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446 Irving Ave San Jose, CA 95128

2 Beds 1 Baths 1,104 sqft Built 1945

$699,000

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1945
  • Price/Sqft : $633.15
  • 4 Days on Market
  • MLS # : ML81819035
  • Updated Date : 11/05/2020 at 15:40
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,104 sqft
  • Baths : 1 full
Listing Agent

Kw Bay Area Estates

Listing Agent's Description

Centrally located and tastefully executed, this humble Burbank abode is the definition of easy living. Spend weekends exploring your flourishing neighborhood, wander through the nearby historic Rose Garden, or simply hop on the 280 for an 8-minute drive to downtown San Jose. The low-maintenance, xeriscaped front yard and stucco facade provide a charming greeting to this freshly painted 2bed/1 bath home. Step up through an arched entryway into 1,104 sq ft of bright and cozy living space. Warm sunshine pours in through the living rooms large colonial window, reflecting off the vibrant hardwood flooring that runs into the adjacent dining room. The eat-in kitchen features ample, crisp white cabinetry and access to the laundry room. Peak through the kitchen window to find a serene sunroom with views of the private, landscaped backyard. Two spacious bedrooms, custom-built ins, and a 3,988 sq ft lot that can be used for expansion add to this valuable home teeming with possibilities.

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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: 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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$2,579
Property Tax -$831
Property Insurance -$54
Property Management Fees -$129
CASH FLOW
-$363

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.

$699,000

PROJECTED PRICE

$3,230

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 13.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$29,228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,230

    LIST RENT
  • $2.93

    LIST RENT PER SQFT
  • $3,621

    COMP ESTIMATED VALUE
  • $3.28

    COMP AVG. RENT PER SQFT
Comps Range
$3,230
1$3,2302$4,595
$4,595
RENT COMPS ANALYSIS
  • 446 Irving Ave San Jose, CA 1
    • 2 beds 1 baths ∙ 1,104 Sqft ∙ Built 1945 2 beds 1 baths ∙ 1,104 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $3,230
    • $2.93
    •  
  • 1128 Settle Ave San Jose, CA 2
    • 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
David Giambruno
Kw Bay Area Estates
BESbswy