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4823 Banberry Way San Jose, CA 95124

3 Beds 2 Baths 1,240 sqft Built 1960

$1,377,777

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $1,111.11
  • 79 Days on Market
  • MLS # : ML81816255
  • Updated Date : 01/02/2021 at 20:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Offer due: 1/6/2020 ( Wednesday) 2 pm. CHARMING HOME IN A HIGHLY DESIRED CAMBRIAN LOCATION !! Move-in-ready home in a quiet neighborhood with excellent schools - Carlton Elementary, Union Middle, and Leigh High (buyer to confirm). East facing home brings in a lot of sunlight, featuring a beautiful and practical floor plan with laminate flooring, crown molding, double pane windows with plantation shutters, central air conditioning & heating throughout along with fans & fixtures in all the rooms. Copper piping throughout, composition shingle roof, and big size kitchen with sky tunnels and newer oven. Beautiful and Serene, low maintenance, covered and stamped cemented backyard for a lot of space to relax, family gatherings and BBQ, kids to play, and a shed for extra storage! Close to shopping, fwys, and schools. Try walking virtual tour: https://my.matterport.com/show/?m=t4uX4kTmZPi

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: Little Branham-Rosswood

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Little Branham-Rosswood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $18444493

* 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
Carlton Elementary School Primary Regular 705 28 9
Union Middle School Middle Regular 976 40 9
Leigh High School High Magnet 1,665 73 9

Carlton Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 28
9
GreatSchools Rating

Union Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 40
9
GreatSchools Rating

Leigh High School

  • Education Level: High
  • # of students: 1,665
  • # of teachers: 73
9
GreatSchools Rating
 

$1,239,999$1,515,555$1,377,777

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$5,083
Property Tax -$1,616
Property Insurance -$57
Property Management Fees -$133
CASH FLOW
-$3,489

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.

$1,377,777

PROJECTED PRICE

$3,400

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$370,861

INVESTMENT

$370,861

Down Payment
$344,444
Rehab Estimate
$5,750
Closing Costs
$20,667

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,083

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $344,444
Loan Amount $1,033,333
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$231

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $2.74

    LIST RENT PER SQFT
  • $3,413

    COMP ESTIMATED VALUE
  • $2.75

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,4953$3,5004$3,8505$4,200
$4,200
RENT COMPS ANALYSIS
  • 4823 Banberry Way San Jose, CA 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.74
    •  
  • 4954 Alan Ave San Jose, CA 2
    • 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 1956
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.54
    •  
  • 5036 Noella Way San Jose, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.92
    •  
  • 14815 Los Gatos-almaden Rd San Jose, CA 4
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.67
    •  
  • 4547 Tomrick Ave San Jose, CA 5
    • 4 beds 2 baths ∙ 1,457 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,457 Sqft ∙ Built 1965
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.88
    •  
PROPERTY LISTING DETAILS
Anuradha Gupta
Intero Real Estate Services
BESbswy