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43 Southlake Dr San Jose, CA 95138

3 Beds 2 Baths 1,356 sqft Built 1982

$975,000

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
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!

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $362k1220k

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

Neighborhood: Silver Leaf

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
Bernal Intermediate School Middle Regular 807 36 7
Oak Grove High School High Magnet 1,903 78 6

Bernal Intermediate School

  • Education Level: Middle
  • # of students: 807
  • # of teachers: 36
7
GreatSchools Rating

Oak Grove High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 78
6
GreatSchools Rating
 

$877,500$1,072,500$975,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$264,125

INVESTMENT

$264,125

Down Payment
$243,750
Rehab Estimate
$5,750
Closing Costs
$14,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$3,597

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $243,750
Loan Amount $731,250
See What Happens When You Reinvest Cash Flow

-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
$3,050
1$3,0502$3,2003$3,3004$3,5505$3,650
$3,650
RENT COMPS ANALYSIS
  • 43 Southlake Dr San Jose, CA 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.25
    •  
  • 6184 Lavendula Way San Jose, CA 2
    • 3 beds 3 baths ∙ 1,318 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,318 Sqft ∙ Built 1996
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.43
    •  
  • 406 Knollcrest Ave San Jose, CA 3
    • 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 1998
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.26
    •  
  • 436 Knollcrest Ave San Jose, CA 4
    • 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1997
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $2.15
    •  
  • 427 Chelsea Xing San Jose, CA 5
    • 4 beds 3 baths ∙ 1,643 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,643 Sqft ∙ Built 1998
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.22
    •  
PROPERTY LISTING DETAILS
Alvaro Nevarez
Eq1
BESbswy