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371 Saint Julie Dr San Jose, CA 95119

3 Beds 2 Baths 1,493 sqft Built 1976

$998,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $668.45
  • 5 Days on Market
  • MLS # : ML81819882
  • Updated Date : 11/13/2020 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,493 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Great Santa Teresa location with easy access to Highways 101 and 85. Close to shopping & schools. Wonderfull views of the Santa Teresa hills. Turn key well maintained property Nicely remodeled kitchen with granite counter tops. Duel pane windows, Hot tub just outside the family room door. The rear yard features a dog run or the possibility of a Bocci court, live chicken coup. however the chickens can stay or go at the option of the buyer. Stainless Steel kitchen appliances. Rare Gas cook top for the area. Also, close to the foot hills and walking trails.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rancho Santa Teresa

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Rancho Santa Teresa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
Santa Teresa Elementary School Primary Regular 646 24 7
Bernal Intermediate School Middle Regular 807 36 7
Santa Teresa High School High Magnet 2,306 89 9

Santa Teresa Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 24
7
GreatSchools Rating

Bernal Intermediate School

  • Education Level: Middle
  • # of students: 807
  • # of teachers: 36
7
GreatSchools Rating

Santa Teresa High School

  • Education Level: High
  • # of students: 2,306
  • # of teachers: 89
9
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$3,682
Property Tax -$1,205
Property Insurance -$63
Property Management Fees -$140
CASH FLOW
-$1,500

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.

$998,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.2%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $2.4

    LIST RENT PER SQFT
  • $3,628

    COMP ESTIMATED VALUE
  • $2.43

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,5003$3,5904$3,6005$3,600
$3,600
RENT COMPS ANALYSIS
  • 371 Saint Julie Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $2.40
    •  
  • 6184 Lavendula Way San Jose, CA 1
    • 3 beds 3 baths ∙ 1,318 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,318 Sqft ∙ Built 1996
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.43
    •  
  • 6349 Cottle Rd San Jose, CA 2
    • 4 beds 2 baths ∙ 1,412 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,412 Sqft ∙ Built 1971
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.48
    •  
  • 6103 Vale Ct San Jose, CA 4
    • 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.55
    •  
  • 428 Sautner Dr San Jose, CA 5
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1968
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.26
    •  
PROPERTY LISTING DETAILS
Dave Tonna
Compass
BESbswy