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5033 Miramar Ave San Jose, CA 95129

3 Beds 2 Baths 1,188 sqft Built 1956

$1,700,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $1,430.98
  • 4 Days on Market
  • MLS # : ML81820063
  • Updated Date : 11/12/2020 at 14:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,188 sqft
  • Baths : 2 full
Listing Agent

Re/max Real Estate Services

Listing Agent's Description

Amazing Opportunity to send your kids to some of the Best Schools in the Bay Area. Highly sought-after Silicon Valley location just minutes to the New Apple Campus and Kaiser Santa Clara. 3 spacious Bedrooms and 2 Full Baths that have been remodeled. Large Kitchen with Breakfast Nook. Large Living Room with slider opening up into the private backyard with Hot Tub. Hardwood Floors under the carpets. Attached 2 car garage with storage shed attached. Award Wining/Top Ranked Cupertino Schools. Cupertino High School, Hyde Middle School, and Eisenhower Elementary School. Walk to Safeway, Restaurants, and other stores. A quick drive down Stevens Creek Blvd. to Santana Row and Valley Fair Shopping and just few minutes drive to Lawrence Expressway and Highway 280.

SEE MORE

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: Loma Linda

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $337k1220k

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

Neighborhood: Loma Linda

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16033914

* 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
Eisenhower Elementary School Primary Regular 702 30 8
Hyde Middle School Middle Regular 987 43 8
Cupertino High School High Regular 2,168 87 9

Eisenhower Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 30
8
GreatSchools Rating

Hyde Middle School

  • Education Level: Middle
  • # of students: 987
  • # of teachers: 43
8
GreatSchools Rating

Cupertino High School

  • Education Level: High
  • # of students: 2,168
  • # of teachers: 87
9
GreatSchools Rating
 

$1,530,000$1,870,000$1,700,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$6,272
Property Tax -$1,915
Property Insurance -$56
Property Management Fees -$137
CASH FLOW
-$4,879

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.

$1,700,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.21%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.9%
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$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$70k-$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$456,250

INVESTMENT

$456,250

Down Payment
$425,000
Rehab Estimate
$5,750
Closing Costs
$25,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,272

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $425,000
Loan Amount $1,275,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$5,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $2.95

    LIST RENT PER SQFT
  • $3,496

    COMP ESTIMATED VALUE
  • $2.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,5003$3,6004$3,9005$3,900
$3,900
RENT COMPS ANALYSIS
  • 5033 Miramar Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.95
    •  
  • 5639 Kimberly St San Jose, CA 1
    • 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1958
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $3.01
    •  
  • 666 Brentwood Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1955
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.94
    •  
  • 613 Harvard Ave 611 Santa Clara, CA 4
    • 3 beds 3 baths ∙ 1,338 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,338 Sqft ∙ Built 1966
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.91
    •  
  • 4766 Elmhurst Dr San Jose, CA 5
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1955
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.91
    •  
PROPERTY LISTING DETAILS
Michael Garvey
Re/max Real Estate Services
BESbswy