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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1961
- Price/Sqft : $731.80
- 4 Days on Market
- MLS # : ML81820856
- Updated Date : 11/21/2020 at 19:14
CONSTRUCTION
- Beds : 5
- Floor Size : 2,528 sqft
- Baths : 3 full
Listing Agent
1 Team Realtors
Listing Agent's Description
Large home at a quiet location in highly desirable Westmont neighborhood on the border of Saratoga, close to Westgate Mall, YMCA, El Paseo Shopping Center, Los Gatos. Excellent schools: Forest Hill, Rolling Hills, Westmont High. Offers due by Wed., Nov 25 at 3:00 pm. 1st floor. Modern kitchen with stainless appliances, granite, movable island, new range with 6 gas burners and dual electric oven. Large dining room. Master suite with walk-in closet, another bedroom, and full bath. Additional room for home office. 2nd floor: 3 bedrooms, full bath, family room, hobby room, storage. Great views of mountains. Central A/C, high-quality windows & flooring. Copper piping, new tiles. New cabinets in a 2-car garage. Private backyard with concrete patio, side yard, new fencing. Space for RV or boat parking.
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: Westmont
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Westmont
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $5,200 |
| EXPENSES | Loan Payment | -$6,826 |
| Property Tax | -$2,068 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$203 | |
|
CASH FLOW
-$3,984
|
||
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.
$1,850,000
PROJECTED PRICE
$5,200
PROJECTED RENT
0.28%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 5.00% |
| Appreciation Year (1-5) | 11.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.40% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$496,000
LOAN DETAILS
$6,826
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $462,500 |
| Loan Amount | $1,387,500 |
-0.08
YEARS SAVED
-$99
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$5,200
LIST RENT -
$2.06
LIST RENT PER SQFT
-
$4,753
COMP ESTIMATED VALUE -
$1.88
COMP AVG. RENT PER SQFT
Comps Range
-
4766 Bannock Cir San Jose, CA 2
- 5 beds 3 baths ∙ 2,528 Sqft ∙ Built 1961 5 beds 3 baths ∙ 2,528 Sqft ∙ Built 1961
- Rent
- Rent Per SQFT
- $5,200
- $2.06
-
18530 Marshall Ln Saratoga, CA 1
- 5 beds 3 baths ∙ 2,662 Sqft ∙ Built 1951 5 beds 3 baths ∙ 2,662 Sqft ∙ Built 1951
LEASED 12/22/19- Rent
- Rent Per SQFT
- $4,495
- $1.69
-
116 Granada Way Los Gatos, CA 3
- 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1975
LEASED 10/05/20- Rent
- Rent Per SQFT
- $5,500
- $2.07
PROPERTY LISTING DETAILS
1 Team Realtors
