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4766 Bannock Cir San Jose, CA 95130

5 Beds 3 Baths 2,528 sqft Built 1961

$1,850,000

List Price

$5,200

$5K - $5.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
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

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Westmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17224493

* 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
Forest Hill Elementary School Primary Regular 632 29 9
Rolling Hills Middle School Middle Regular 985 45 7
Westmont High School High Regular 1,537 68 8

Forest Hill Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 29
9
GreatSchools Rating

Rolling Hills Middle School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 45
7
GreatSchools Rating

Westmont High School

  • Education Level: High
  • # of students: 1,537
  • # of teachers: 68
8
GreatSchools Rating
 

$1,665,000$2,035,000$1,850,000

PURCHASE PRICE

$4,680$5,720$5,200

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$496,000

INVESTMENT

$496,000

Down Payment
$462,500
Rehab Estimate
$5,750
Closing Costs
$27,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $462,500
Loan Amount $1,387,500
See What Happens When You Reinvest Cash Flow

-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
$4,495
1$4,4952$5,2003$5,500
$5,500
RENT COMPS ANALYSIS
  • 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
Irene Borz
1 Team Realtors
BESbswy