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488 Ivanhoe Ct San Jose, CA 95136

3 Beds 3 Baths 1,903 sqft Built 1973

$1,199,000

List Price

$4,070

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $630.06
  • 5 Days on Market
  • MLS # : ML81818174
  • Updated Date : 11/02/2020 at 10:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,903 sqft
  • Baths : 2 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Beautifully updated Vista Park residence on a manicured Cul-de-Sac. Great open floor plan with an abundance of natural light, great for entertaining w/ separate living & family room / 3 beds, Office & 2.5 baths / Double paned windows / Oversized master bedroom with walk-in closet / Indoor Laundry / Huge backyard with covered deck for entertaining, built in outdoor kitchen with gas grill and water. Two side houses, One is a Pool changing room with sauna, Other lil house used as Yoga room. Pool has over $30K in upgrades with Solar & Gas assisted Heating, automatic cover and sparkling Salt Water system. Location, Location, Location, neighborhood features Vista Park a 10 acre play friendly park with baseball fields, two play structures and sand lot to enjoy. 2 Blocks away you enter Martial Cottle Park featuring 287 Acres offering running/walking trails, organic farming and children play structures an amazing feature in your backyard! So much to list you need to visit to appreciate!

SEE MORE

MARKET HIGHLIGHTS

  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Vista Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Vista Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853982

* 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
Carson Elementary School Primary Regular 396 17 5
Muir Middle School Middle Regular 1,118 51 6
Gunderson High School High Magnet 1,149 52 5

Carson Elementary School

  • Education Level: Primary
  • # of students: 396
  • # of teachers: 17
5
GreatSchools Rating

Muir Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 51
6
GreatSchools Rating

Gunderson High School

  • Education Level: High
  • # of students: 1,149
  • # of teachers: 52
5
GreatSchools Rating
 

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,663$4,477$4,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,070
EXPENSES Loan Payment -$4,424
Property Tax -$1,339
Property Insurance -$73
Property Management Fees -$159
CASH FLOW
-$1,924

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.

$1,199,000

PROJECTED PRICE

$4,070

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.8%
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-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,424

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$211

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,070

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $4,225

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,9003$4,0004$4,070
$4,070
RENT COMPS ANALYSIS
  • 488 Ivanhoe Ct San Jose, CA 4
    • 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $4,070
    • $2.14
    •  
  • 6121 Maree Ct San Jose, CA 1
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1970
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.24
    •  
  • 5324 Entrada Oleandros San Jose, CA 2
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 1971
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.25
    •  
  • 5894 Paddon Cir San Jose, CA 3
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.17
    •  
PROPERTY LISTING DETAILS
Roberto Ruiz
Intero Real Estate Services
BESbswy