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451 Santa Mesa Dr San Jose, CA 95123

4 Beds 2 Baths 1,342 sqft Built 1971

$998,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $743.67
  • 39 Days on Market
  • MLS # : ML81817985
  • Updated Date : 12/05/2020 at 21:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,342 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

You've seen all the rest now experience the very best that Blossom Valley has to offer! More photos to come soon of this clean, well cared for & move in ready home! Situated on a quiet family friendly street with new stainless dishwasher, gas oven/stove combo, all brand new flooring throughout, sparkling pool/spa & so much more! Check out all the comps in the neighborhood recently sold! We are the best priced 4bd home in the area with a sparkling newer look. Virtual tour & professional photos this weekend! Staged and ready to show!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Calero

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $368k1220k

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

Neighborhood: Calero

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17603804

* 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
Herman Intermediate School And Adventure Primary Regular 822 38 8
Herman Intermediate School And Adventure Middle Regular 822 38 8
Santa Teresa High School High Magnet 2,306 89 9

Herman Intermediate School And Adventure

  • Education Level: Primary
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Herman Intermediate School And Adventure

  • Education Level: Middle
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Santa Teresa High School

  • Education Level: High
  • # of students: 2,306
  • # of teachers: 89
9
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$3,682
Property Tax -$1,205
Property Insurance -$60
Property Management Fees -$140
CASH FLOW
-$1,496

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.

$998,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.4%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $2.68

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,590
1$3,590
$3,590
RENT COMPS ANALYSIS
  • 451 Santa Mesa Dr San Jose, CA
    • 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $2.68
    •  
PROPERTY LISTING DETAILS
Steve Coan
Coldwell Banker Realty
BESbswy