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3950 Springfield Dr San Jose, CA 95130

3 Beds 2 Baths 1,489 sqft Built 1961

$1,499,000

List Price

$3,760

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $1,006.72
  • 3 Days on Market
  • MLS # : ML81824992
  • Updated Date : 01/09/2021 at 12:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,489 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

This Single Story home in West Campbell neighborhood is a must see! Single Story home has 3 Bedrooms + separate family room and 2 Bathrooms in 1,823 SqFt (Huge permitted patio room of 334 Sqft included) and a large 8,642SqFt Lot with Fruit trees! This well maintained home has a nice flow throughout with lots of natural lighting and has been recently updated throughout with recessed lighting, flooring, clean white cabinets and backslash. The Living Room opens up to the Dining Room and flows through to the Kitchen with easy access to a covered patio dining area for outdoor entertaining with huge large backyard. Copper plumbing, A/C, Dual pane windows and extra large driveway allows extra parking space. Both bathroom has been upgraded plus huge family room which can be easily converted to 4th bedroom or office/den. These features are only a few of things on top of the award winning school system! Conveniently located for shopping, expressways and highways.

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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: West Valley

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: West Valley

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $16644493

* 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
Payne Elementary School Primary Regular 652 26 7
Moreland Middle School Middle Regular 1,027 40 7
Westmont High School High Regular 1,537 68 8

Payne Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 26
7
GreatSchools Rating

Moreland Middle School

  • Education Level: Middle
  • # of students: 1,027
  • # of teachers: 40
7
GreatSchools Rating

Westmont High School

  • Education Level: High
  • # of students: 1,537
  • # of teachers: 68
8
GreatSchools Rating
 

$1,349,100$1,648,900$1,499,000

PURCHASE PRICE

$3,384$4,136$3,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,760
EXPENSES Loan Payment -$5,207
Property Tax -$1,739
Property Insurance -$63
Property Management Fees -$147
CASH FLOW
-$3,395

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.

$1,499,000

PROJECTED PRICE

$3,760

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$402,985

INVESTMENT

$402,985

Down Payment
$374,750
Rehab Estimate
$5,750
Closing Costs
$22,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$5,207

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $374,750
Loan Amount $1,124,250
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,760

    LIST RENT
  • $2.53

    LIST RENT PER SQFT
  • $4,173

    COMP ESTIMATED VALUE
  • $2.8

    COMP AVG. RENT PER SQFT
Comps Range
$3,650
1$3,6502$3,7503$3,7504$3,7605$4,600
$4,600
RENT COMPS ANALYSIS
  • 3950 Springfield Dr San Jose, CA 4
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $3,760
    • $2.53
    •  
  • 771 Century Campbell, CA 1
    • 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 1958
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.83
    •  
  • 4297 Mckinnon Dr San Jose, CA 2
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1960
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.67
    •  
  • 4172 Lemoyne Way San Jose, CA 3
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1963
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.81
    •  
  • 2101 Saverio Ct San Jose, CA 5
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1964
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.90
    •  
PROPERTY LISTING DETAILS
Jun Chung
Compass
BESbswy