Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

471 Cestaric Dr Milpitas, CA 95035

3 Beds 2 Baths 1,574 sqft Built 1971

$1,049,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $666.45
  • 3 Days on Market
  • MLS # : ML81823010
  • Updated Date : 12/12/2020 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,574 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Beautiful move-in ready home located within walking distance to William Burnett Elementary and Cardoza Park. This single story, 3 bed, 2 bath, 1574sf home features a spacious living/dining combo with abundant natural light, fireplace and vaulted ceiling. Expansive master suite with recessed lighting, walk-in closet and large shower. Two-car garage with electric vehicle charging station. Other amenities include dual pane windows, recessed lighting, laminate flooring throughout, fresh interior paint and more. Professionally landscaping in front and backyard with a lush lawn, large deck, a variety of fruit trees, plants and shrubs. Walk to schools, shops, parks (Ed Levin & Cardoza) and easy access to freeways, minutes to all Silicon Valley has to offer. Top Milpitas schools, Burnett, Russell Middle, Milpitas High.

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: Northeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Northeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17313804

* 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
William Burnett Elementary School Primary Regular 659 25 7
Thomas Russell Middle School Middle Regular 824 31 9
Milpitas High School High Regular 3,105 117 9

William Burnett Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 25
7
GreatSchools Rating

Thomas Russell Middle School

  • Education Level: Middle
  • # of students: 824
  • # of teachers: 31
9
GreatSchools Rating

Milpitas High School

  • Education Level: High
  • # of students: 3,105
  • # of teachers: 117
9
GreatSchools Rating
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$3,870
Property Tax -$1,043
Property Insurance -$65
Property Management Fees -$141
CASH FLOW
-$1,500

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.

$1,049,000

PROJECTED PRICE

$3,620

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.8%
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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,134

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,762

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,300
$3,300
RENT COMPS ANALYSIS
  • 471 Cestaric Dr Milpitas, CA 1
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1830 Vegas Ave Milpitas, CA 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.22
    •  
  • 1513 Adams Ave Milpitas, CA 3
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1960
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.56
    •  
PROPERTY LISTING DETAILS
Boyenga Team
Compass
BESbswy