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PROPERTY INFO
FACTS
- Single Family
- Built In 1982
- Price/Sqft : $719.03
- 7 Days on Market
- MLS # : ML81824127
- Updated Date : 01/02/2021 at 19:24
CONSTRUCTION
- Beds : 3
- Floor Size : 1,356 sqft
- Baths : 2 full
Listing Agent
Eq1
Listing Agent's Description
Immaculately presented, this single-family home in the heart of Santa Teresa is designed to impress the most discerning of tastes. The kitchen has been flawlessly remodeled and features high-end finishes with newer cabinets & granite countertops, waterfall island w/ gas stove top & high-end exhaust. Other unique features include tile backsplash & under cabinet lighting, built in microwave & oven combo, tile floor, & walk in pantry with shelving. Both bathrooms have been recently�remodeled & boast decorative�tile & gorgeous finishes. Other highlights: laminate 12mm hardwood flooring, surround sound in living room, crown molding & decorative window trims, recessed lighting, & dual pane windows. The backyard oasis features artificial turf, decorative�planters & pavers, storage shed & gazebo. Entertain guests under the attached patio w/ lighting & speakers, perfect for BBQs. The garage has been transformed to watch your favorite sports, work-from-home office, or even your own gym!
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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: Silver Leaf
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Silver Leaf
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,050 |
| EXPENSES | Loan Payment | -$3,597 |
| Property Tax | -$1,181 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,917
|
||
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.
$975,000
PROJECTED PRICE
$3,050
PROJECTED RENT
0.31%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 5.00% |
| Appreciation Year (1-5) | 9.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.19% |
| 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
$264,125
LOAN DETAILS
$3,597
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $243,750 |
| Loan Amount | $731,250 |
-0.08
YEARS SAVED
-$5
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,050
LIST RENT -
$2.25
LIST RENT PER SQFT
-
$3,071
COMP ESTIMATED VALUE -
$2.27
COMP AVG. RENT PER SQFT
Comps Range
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- $3,650
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PROPERTY LISTING DETAILS
Eq1
