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394 Avenida Manzanos San Jose, CA 95123

3 Beds 2 Baths 1,283 sqft Built 1971

$999,000

List Price

$3,350

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $778.64
  • 2 Days on Market
  • MLS # : ML81823652
  • Updated Date : 12/19/2020 at 22:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,283 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

WOW! A Beautiful Gem! This single family home is located in the desirable Blossom Valley, in vicinity to a plethora of thriving businesses & parks ripe w/ outdoor recreational activities. Front landscape is vitally designed w/ private fence & personal touches, offering a nice curb appeal. Sitting on a big lot 6381 SqFt, this house boasts 1283 SqFt living space, 3BR | 2BA, bonus a huge sunroom, perfect for family activities. Many exciting upgrades: bright & open floor plan, LED recessed lights, dual pane windows, modern light fixture, upgraded baths, copper plumbing, central AC/ Heat, tastefully remodeled kitchen w/ maple cabinets, granite counter top, stainless steel appliances, custom crown molding, Solar panels, EV charger. A thoughtfully designed backyard brings you to the world of calm, zen w/ green belts, flowers, many fruit trees. Location is perfectly close to hitech HQs, freeways, markets, acclaimed schools, prime retailers, Kaiser. Look No Further! This is your dream 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: Del Robles

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: Del Robles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17283804

* 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
Herman Intermediate School And Adventure Primary Regular 822 38 8
Herman Intermediate School And Adventure Middle Regular 822 38 8
Santa Teresa High School High Magnet 2,306 89 9

Herman Intermediate School And Adventure

  • Education Level: Primary
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Herman Intermediate School And Adventure

  • Education Level: Middle
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Santa Teresa High School

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

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$3,686
Property Tax -$1,206
Property Insurance -$58
Property Management Fees -$131
CASH FLOW
-$1,731

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$999,000

PROJECTED PRICE

$3,350

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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

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$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$61

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
  • $3,365

    COMP ESTIMATED VALUE
  • $2.62

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2003$3,3504$3,9005$4,250
$4,250
RENT COMPS ANALYSIS
  • 394 Avenida Manzanos San Jose, CA 1
    • 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 390 Grandpark Cir San Jose, CA 2
    • 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1972
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.78
    •  
  • 5328 Cedar Grove Cir San Jose, CA 3
    • 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1977
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.46
    •  
  • 6162 Blossom Ave San Jose, CA 4
    • 4 beds 2 baths ∙ 1,495 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,495 Sqft ∙ Built 1968
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.61
    •  
  • 4074 Naomi Ct San Jose, CA 5
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1976
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.64
    •  
PROPERTY LISTING DETAILS
Troy Thinh Khuu
Intero Real Estate Services
BESbswy