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471 Wainwright Ave San Jose, CA 95128

3 Beds 1 Baths 1,173 sqft Built 1947

$1,099,000

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $936.91
  • 6 Days on Market
  • MLS # : ML81821820
  • Updated Date : 12/03/2020 at 20:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,173 sqft
  • Baths : 1 full
Listing Agent

Maxreal

Listing Agent's Description

Charming, spacious and affordable 3-bedroom single family house located at one of the most upcoming neighborhoods at the border of San Jose and Santa Clara. Superb location for commuters! Very decent neighborhood! Open, bright and airy floor plan. Well maintained and move in ready! Recessed Lighting, Hardwood Floor, Dual Pane Windows, Central Air Conditioning and Heating, Wood-burning Fireplace, Attached Garage, .etc. Stylish kitchen and open dining area leading to the relaxing, large and easy-to-maintain backyard. Large backyard has huge potentials! Nearby Santana Row & Westfield Valley Fair Mall! Just minutes to New Apple Campus, future Google Campus, Diridon Station, Rose Garden and more! This is Santa Clara unincorporated area and no city of San Jose transfer tax! Two additional gifts from seller to buyer: (1) New Roof will be installed with permit and 30-year warranty; (2) A permitted architectural plan for around 500 sqft expansion approved by the County of Santa Clara.

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: 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
Lynhaven Elementary School Primary Charter 595 26 3
Monroe Middle School Middle Regular 884 39 5
Del Mar High School High Regular 1,108 49 6

Lynhaven Elementary School

  • Education Level: Primary
  • # of students: 595
  • # of teachers: 26
3
GreatSchools Rating

Monroe Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 39
5
GreatSchools Rating

Del Mar High School

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

$989,100$1,208,900$1,099,000

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$4,055
Property Tax -$1,257
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$2,356

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.

$1,099,000

PROJECTED PRICE

$3,140

PROJECTED RENT

0.29%

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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$296,985

INVESTMENT

$296,985

Down Payment
$274,750
Rehab Estimate
$5,750
Closing Costs
$16,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$4,055

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $274,750
Loan Amount $824,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$48

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,140

    LIST RENT
  • $2.68

    LIST RENT PER SQFT
  • $3,155

    COMP ESTIMATED VALUE
  • $2.69

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1403$3,5004$3,750
$3,750
RENT COMPS ANALYSIS
  • 471 Wainwright Ave San Jose, CA 2
    • 3 beds 1 baths ∙ 1,173 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,173 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $2.68
    •  
  • 2524 Fernwood Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1952
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.70
    •  
  • 914 S Baywood Ave San Jose, CA 3
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.37
    •  
  • 1347 Lexington St Santa Clara, CA 4
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1940
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $3.00
    •  
PROPERTY LISTING DETAILS
Jolin Zhu
Maxreal
BESbswy