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441 Irving Ave San Jose, CA 95128

2 Beds 1 Baths 1,064 sqft Built 1920

INVESTimate

$899,950

List Price

$3,270

$3,020 - $3,520

Rent Est.

$1,025,043  ( +13.90%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1920
  • Price/Sqft : $845.82
  • 6 Days on Market
  • MLS # : ML81807314
  • Updated Date : 08/25/2020 at 13:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,064 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Character and charm abound in this turnkey home. Beautifully appointed throughout with decorative mouldings on the ceilings and walls. A classic arched wall separates the living room from the dining room. All new kitchen includes craftsman style cabinets, quartz solid surface countertops and decorative backsplash. Stainless steel appliances complete the remodel. Indoor laundry room. Refinished hardwood floors compliment the living and dining rooms. Wood burning fireplace in Living room. Plush carpeting accent the bedrooms and hallway. Master bedroom features a walk in closet. Bathroom is completely redone to include new tub and vanities. New central air gas heating system. All new dual pane windows throughout. Professionally painted interior and exterior. Low maintenance landscaping.Unfinished basement.Detached 2 car garage. Easy short walk to Santana Row and the new Westfield Valley Fair. Great neighborhood.

SEE MORE

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: Burbank

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $292k1220k

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

Neighborhood: Burbank

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2160018002000220024002600280030003200340036003800Rent in $14503804

* 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
Luther Burbank Elementary School Primary Regular 552 24 5
Luther Burbank Elementary School Middle Regular 552 24 5
Del Mar High School High Regular 1,108 49 6

Luther Burbank Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 24
5
GreatSchools Rating

Luther Burbank Elementary School

  • Education Level: Middle
  • # of students: 552
  • # of teachers: 24
5
GreatSchools Rating

Del Mar High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 49
6
GreatSchools Rating
 

$809,955$989,945$899,950

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

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-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$3,320
Property Tax -$1,071
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$1,303

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.

$899,950

PROJECTED PRICE

$3,270

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 13.90%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,237

INVESTMENT

$244,237

Down Payment
$224,988
Rehab Estimate
$5,750
Closing Costs
$13,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,320

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,988
Loan Amount $674,963
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $3.07

    LIST RENT PER SQFT
  • $3,852

    COMP ESTIMATED VALUE
  • $3.62

    COMP AVG. RENT PER SQFT
Comps Range
$3,270
1$3,2702$3,5003$4,595
$4,595
RENT COMPS ANALYSIS
  • 441 Irving Ave San Jose, 1
    • 2 beds 1 baths ∙ 1,064 Sqft ∙ Built 1920 2 beds 1 baths ∙ 1,064 Sqft ∙ Built 1920
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $3.07
    •  
  • 1280 Hester Ave San Jose, 2
    • 2 beds 1 baths ∙ 884 Sqft ∙ Built 1924 2 beds 1 baths ∙ 884 Sqft ∙ Built 1924
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $3.96
    •  
  • 1128 Settle Ave San Jose, 3
    • 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $3.28
    •  
PROPERTY LISTING DETAILS
Rick Zea
Compass
BESbswy