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393 Springpark Cir San Jose, CA 95136

4 Beds 3 Baths 2,075 sqft Built 1968

$1,098,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $529.16
  • 2 Days on Market
  • MLS # : ML81826103
  • Updated Date : 01/16/2021 at 14:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,075 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome home to this lovely 4-bedroom, 3 updated bath, 2000+ sf home in the centrally located Parkview neighborhood of Blossom Valley. Light-filled and spacious, this home features HW floors throughout & a bedroom & full bath on the ground floor, perfect for multi-generational living. Beautiful remodeled eat-in kitchen with white shaker style cabinetry, granite countertops, tiled backsplash, 5- burner gas cooktop, stainless appliances, recessed lights & a large island/breakfast bar w/dome pendant lighting. Huge family room with vaulted ceiling, fireplace, new carpeting & slider affording easy access to a nicely manicured back yard*Formal living room with fireplace*Separate dining room*Large primary suite has vaulted ceilings*DP windows*Freshly painted in/out*Newer furnace & water heater*Perfectly situated near neighborhood parks including Martial Cottle County Park & offering easy access to major commute arteries (87, 85), shopping & schools, make this an excellent place to call home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Parkview

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Parkview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17803804

* 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
Parkview Elementary School Primary Regular 603 22 6
Parkview Elementary School Middle Regular 603 22 6
Andrew P. Hill High School High Magnet 2,015 87 5

Parkview Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 22
6
GreatSchools Rating

Parkview Elementary School

  • Education Level: Middle
  • # of students: 603
  • # of teachers: 22
6
GreatSchools Rating

Andrew P. Hill High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 87
5
GreatSchools Rating
 

$988,200$1,207,800$1,098,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$3,814
Property Tax -$1,323
Property Insurance -$77
Property Management Fees -$152
CASH FLOW
-$1,456

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.

$1,098,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.3%
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$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

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

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$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$296,720

INVESTMENT

$296,720

Down Payment
$274,500
Rehab Estimate
$5,750
Closing Costs
$16,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,814

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $274,500
Loan Amount $823,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,026

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
  • $4,102

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,7003$3,8954$3,900
$3,900
RENT COMPS ANALYSIS
  • 393 Springpark Cir San Jose, CA 1
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5682 Taconic Ct San Jose, CA 2
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1973
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.89
    •  
  • 5592 Sunny Oaks Dr San Jose, CA 3
    • 5 beds 2 baths ∙ 1,910 Sqft ∙ Built 1962 5 beds 2 baths ∙ 1,910 Sqft ∙ Built 1962
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $2.04
    •  
  • 5050 Severance Dr San Jose, CA 4
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1973
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.00
    •  
PROPERTY LISTING DETAILS
Judy O'brien
Coldwell Banker Realty
BESbswy