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PROPERTY INFO
FACTS
- Single Family
- Built In 1950
- Price/Sqft : $1,029.33
- 7 Days on Market
- MLS # : ML81820547
- Updated Date : 11/19/2020 at 14:48
CONSTRUCTION
- Beds : 2
- Floor Size : 1,360 sqft
- Baths : 1 full
Listing Agent
Intero Real Estate Services
Listing Agent's Description
Distinctively Designed Home with Living Space over the Two Car Garage. Formal Living Room and Bay Window Alcove for the Dining Area. Adjoining Kitchen with warm oak cabinets and tile counters. New appliances are on order. 2 good sized Bedrooms with plenty of closet space. Updated full Bathroom with unique claw foot tub, new shower plumbing over the tub, new commode. Expansive Family Room offers endless potential! Could be 3rd Primary Bedroom or perfect for working from home, home schooling, relaxing...offering space when sheltering at home. Side deck and rear side patio nicely extend the living area. Large rear yard is just awaiting your green thumb. Newly refinished hardwood floors, new interior paint, new interior ceiling lights. Nestled in a popular San Carlos Neighborhood, just moments away from charming downtown, restaurants, shopping, adult community center, library, transportation. Truly the only thing missing is you!
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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: Cordes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cordes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $4,310 |
EXPENSES | Loan Payment | -$5,165 |
Property Tax | -$1,508 | |
Property Insurance | -$60 | |
Property Management Fees | -$168 | |
CASH FLOW
-$2,591
|
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.
$1,399,888
PROJECTED PRICE
$4,310
PROJECTED RENT
0.31%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 4.83% |
Appreciation Year (1-5) | 12.1% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 5.92% |
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
$376,720
LOAN DETAILS
$5,165
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $349,972 |
Loan Amount | $1,049,916 |
0
YEARS SAVED
$20
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
-
$4,828
COMP ESTIMATED VALUE -
$3.55
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Intero Real Estate Services