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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $728.03
- 5 Days on Market
- MLS # : ML81820727
- Updated Date : 11/18/2020 at 13:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,195 sqft
- Baths : 2 full
Listing Agent
Re/max Santa Clara Valley
Listing Agent's Description
Home for the holidays? Picture your family making memories in this move-in ready 3 bedroom, 2 bath home located in a quiet (think working from home) neighborhood, close to shopping and freeways. Large yard and patio perfect for gardening, gathering, and playing kids. Entertaining is a breeze with the family room kitchen flowing to the rear yard. Upgrades include: new carpet, fresh paint throughout, kitchen refreshed, upgraded electrical including car charging in the garage, Pelican water softener/filtration system, and much, much more. Perfect for first time or move up buyers! Do not miss this outstanding opportunity.
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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: Miner
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Miner
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $3,070 |
EXPENSES | Loan Payment | -$3,210 |
Property Tax | -$1,050 | |
Property Insurance | -$56 | |
Property Management Fees | -$129 | |
CASH FLOW
-$1,375
|
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.
$870,000
PROJECTED PRICE
$3,070
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 5.00% |
Appreciation Year (1-5) | 10.0% |
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
$236,300
LOAN DETAILS
$3,210
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $217,500 |
Loan Amount | $652,500 |
0.17
YEARS SAVED
$189
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,070
LIST RENT -
$2.57
LIST RENT PER SQFT
-
$3,107
COMP ESTIMATED VALUE -
$2.6
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Re/max Santa Clara Valley