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PROPERTY INFO
FACTS
- Single Family
- Built In 1967
- Price/Sqft : $561.44
- 3 Days on Market
- MLS # : ML81824379
- Updated Date : 01/01/2021 at 16:40
CONSTRUCTION
- Beds : 6
- Floor Size : 2,645 sqft
- Baths : 4 full
Listing Agent
Elite Realty Group, Inc.
Listing Agent's Description
Rare opportunity to own an impeccably maintained extended 6 BR, 4 BA home in Serramonte, a highly desirable neighborhood. The downstairs is a residence of its own featuring a legal remodeled 1 BR in-law unit with a separate entrance. This delightful property features an excellent layout, plenty of wonderful upgrades: dual-pane windows, wooden floors, newer paints inside & out, & more. The main level an elegant living room with a wood burning fireplace, dining area, remodeled kitchen with granite counter tops & stainless steel appliances, 4 BR, & 2 BA. In addition to that there is 1BR, 1BA, 1 play & 1 family rooms on the 1st level. The functionality of this home is very versatile great for an expanding family or someone who would like to benefit from the supplemental income from renting a portion of the home. 2 car garages with plenty of storage & private backyard with shed. The location is close to shopping, dining, BART, hwy 280, 35, SF & SFO. Beautiful house is a rare gem, must see!
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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: Serramonte
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Serramonte
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $5,330 |
| EXPENSES | Loan Payment | -$5,479 |
| Property Tax | -$1,490 | |
| Property Insurance | -$91 | |
| Property Management Fees | -$208 | |
|
CASH FLOW
-$1,937
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$1,485,000
PROJECTED PRICE
$5,330
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 5.00% |
| Appreciation Year (1-5) | 9.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.61% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$399,275
LOAN DETAILS
$5,479
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $371,250 |
| Loan Amount | $1,113,750 |
0.5
YEARS SAVED
$3,527
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$5,660
COMP ESTIMATED VALUE -
$2.14
COMP AVG. RENT PER SQFT
Comps Range
-
381 Dennis Dr Daly City, CA 1
- 6 beds 4 baths ∙ 2,645 Sqft ∙ Built 1967 6 beds 4 baths ∙ 2,645 Sqft ∙ Built 1967
![property image]()
- Rent
- Rent Per SQFT
- $0
- $0.00
-
7 Seahaven Ct Pacifica, CA 2
- 5 beds 3 baths ∙ 2,520 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,520 Sqft ∙ Built 1963
![property image]()
LEASED 09/04/20- Rent
- Rent Per SQFT
- $5,400
- $2.14
PROPERTY LISTING DETAILS
Elite Realty Group, Inc.
