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365 Hazen St Milpitas, CA 95035

3 Beds 2 Baths 1,460 sqft Built 1958

$1,180,000

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $808.22
  • 2 Days on Market
  • MLS # : ML81823119
  • Updated Date : 12/12/2020 at 22:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,460 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

!!! Your First Dream Home !!! Desirable location in the heart of Milpitas ! Easy access to HW 680, 880 and 237. Near the newly opened BART station, VTA, and a short commute to Cisco, Tesla, Google SJ campus and other tech companies. One block from parks and walking distance to excellent schools: Joseph Weller, Thomas Russell, and Milpitas High. Beautifully updated 3 charming bedrooms, 1 full and 1/2 bath. Home well kept with hardwood flooring and lots of sunlights throughout. Updated large windows in every room of the house. Kitchen and bathrooms with quality materials are updated. Gararage has been converted into a huge bonus, family/entertainment room (20x20) included in living square foot (permitted). This property has a spacious backyard which provides endless ideas for outdoor use, and also ideal for building an ADU (Accessory Dwelling Unit). Take this rare opportunity and make this your home sweet home ! ! Welcome to see !

SEE MORE

MARKET HIGHLIGHTS

  • San Jose metro's economy has been worth $282.2 billion in Gross Metro Product (GMP) in 2018 and is projected to grow to $298.6 billion in 2019. GMP measures the productivity of the metro. (USMayors.org, 2018)
  • San Jose metro employment growth has been at 2.2% in 2018 and predicted to grow at 1.9% in 2019 (USMayors.org, 2018)
  • San Jose metro contributes to 9% of California state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Palo Alto, Redwood City, Mountain View and San Mateo together attracted around $11 billion in venture capital funding in 2019 making Silicon Valley still attractive to technology investments (Crunchbase News, 2020)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sunnyhills

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $365k1220k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Sunnyhills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16963804

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Joseph Weller Elementary School Primary Regular 438 20 7
Thomas Russell Middle School Middle Regular 824 31 9
Milpitas High School High Regular 3,105 117 9

Joseph Weller Elementary School

  • Education Level: Primary
  • # of students: 438
  • # of teachers: 20
7
GreatSchools Rating

Thomas Russell Middle School

  • Education Level: Middle
  • # of students: 824
  • # of teachers: 31
9
GreatSchools Rating

Milpitas High School

  • Education Level: High
  • # of students: 3,105
  • # of teachers: 117
9
GreatSchools Rating
 

$1,062,000$1,298,000$1,180,000

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$4,354
Property Tax -$1,174
Property Insurance -$62
Property Management Fees -$129
CASH FLOW
-$2,579

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$1,180,000

PROJECTED PRICE

$3,140

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$318,450

INVESTMENT

$318,450

Down Payment
$295,000
Rehab Estimate
$5,750
Closing Costs
$17,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$4,354

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $295,000
Loan Amount $885,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$63

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,455

    COMP ESTIMATED VALUE
  • $2.37

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,3004$3,600
$3,600
RENT COMPS ANALYSIS
  • 365 Hazen St Milpitas, CA 1
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1830 Vegas Ave Milpitas, CA 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.22
    •  
  • 1513 Adams Ave Milpitas, CA 3
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1960
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.56
    •  
  • 994 Pescadero St Milpitas, CA 4
    • 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1977
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.32
    •  
PROPERTY LISTING DETAILS
Jennifer Nguyen
Coldwell Banker Realty
BESbswy