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4972 Wayland Ave San Jose, CA 95118

4 Beds 2 Baths 1,503 sqft Built 1965

$1,299,998

List Price

$3,360

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $864.94
  • 5 Days on Market
  • MLS # : ML81825661
  • Updated Date : 01/14/2021 at 06:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,503 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Enter this wonderful,well maintained 4 bedroom, 2 bathroom home in the Cambrian area through a tastefully landscaped front yard.This house was completely rebuilt from foundation up in 1996. Spacious living room with vaulted ceiling opens to a relaxing, beautifully landscaped backyard w/ lemon trees.4th bedroom was converted to a separate dining room by prev. seller.Remodeled designer kitchen w/ SS JENNAIR appliances, 6 burner gas range, custom designer tile work/ cabinetry,Kohler fixtures, & granite counter tops.Milgard windows w/ plantation Shutters.Brazilian cherry wood flooring.Custom built-in closet organizer.Spacious primary room has access to the backyard. Skylights with blinds.Remodeled bathrooms with quality finishes, double sinks,and attention to details. Water softening system.Gas-log fireplace. Fully finished garage w/ overhead storage. Copper plumbing throughout. Central AC. As per county record the lot size /living space are approx.6186 sf /1503 sf.Close to many amenities.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hammer

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $220k1220k

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

Neighborhood: Hammer

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17833804

* 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
Almaden Elementary School Primary Regular 389 13 4
Muir Middle School Middle Regular 1,118 51 6
Pioneer High School High Regular 1,570 67 9

Almaden Elementary School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 13
4
GreatSchools Rating

Muir Middle School

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

Pioneer High School

  • Education Level: High
  • # of students: 1,570
  • # of teachers: 67
9
GreatSchools Rating
 

$1,169,998$1,429,998$1,299,998

PURCHASE PRICE

$3,024$3,696$3,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,360
EXPENSES Loan Payment -$4,515
Property Tax -$1,452
Property Insurance -$63
Property Management Fees -$131
CASH FLOW
-$2,801

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.

$1,299,998

PROJECTED PRICE

$3,360

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 12.7%
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$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$350,249

INVESTMENT

$350,249

Down Payment
$325,000
Rehab Estimate
$5,750
Closing Costs
$19,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,515

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $325,000
Loan Amount $974,999
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$90

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,360

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $4,118

    COMP ESTIMATED VALUE
  • $2.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3603$3,4954$3,7955$4,150
$4,150
RENT COMPS ANALYSIS
  • 4972 Wayland Ave San Jose, CA 2
    • 4 beds 2 baths ∙ 1,503 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,503 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,360
    • $2.24
    •  
  • 3076 Woodcrest Dr San Jose, CA 1
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1957
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.49
    •  
  • 5085 Wayland Ave San Jose, CA 3
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1965
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.94
    •  
  • 1452 Ridgewood Dr San Jose, CA 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.51
    •  
  • 5012 Moonstone Ct San Jose, CA 5
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1970
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $3.02
    •  
PROPERTY LISTING DETAILS
Mitra Lahidji
Compass
BESbswy