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521 Cheyenne Ln San Jose, CA 95123

3 Beds 2 Baths 1,208 sqft Built 1965

INVESTimate

$925,000

List Price

$3,250

$3,000 - $3,500

Rent Est.

$1,038,960  ( +12.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $765.73
  • 8 Days on Market
  • MLS # : ML81805220
  • Updated Date : 08/24/2020 at 05:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,208 sqft
  • Baths : 2 full
Listing Agent

Keller Williams San Jose Gateway

Listing Agent's Description

Great location in Blossom Valley San Jose overlooking the Santa Teresa foothills! This beautiful home greets you with newly refinished hardwood floors throughout, upgraded kitchen & baths, dual pane windows, and added living space in your relaxing sun room. You'll love the peaceful neighborhood which is nestled close to shopping, restaurants, schools, and easy commute to Hwy 85,87, &101. Welcome home...

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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: Blossom Valley

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $372k1220k

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

Neighborhood: Blossom Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17803804

* 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
Herman Intermediate School And Adventure Primary Regular 822 38 8
Herman Intermediate School And Adventure Middle Regular 822 38 8
Santa Teresa High School High Magnet 2,306 89 9

Herman Intermediate School And Adventure

  • Education Level: Primary
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Herman Intermediate School And Adventure

  • Education Level: Middle
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Santa Teresa High School

  • Education Level: High
  • # of students: 2,306
  • # of teachers: 89
9
GreatSchools Rating
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$3,413
Property Tax -$1,117
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$1,465

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.

$925,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.32%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,413

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$187

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $2.69

    LIST RENT PER SQFT
  • $3,268

    COMP ESTIMATED VALUE
  • $2.7

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2503$3,2954$3,6005$3,600
$3,600
RENT COMPS ANALYSIS
  • 521 Cheyenne Ln San Jose, 2
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.69
    •  
  • 390 Grandpark Cir San Jose, 1
    • 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,153 Sqft ∙ Built 1972
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.78
    •  
  • 5924 Mohawk Dr San Jose, 3
    • 3 beds 2 baths ∙ 1,173 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,173 Sqft ∙ Built 1967
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.81
    •  
  • 569 Shawnee Ln San Jose, 4
    • 4 beds 2 baths ∙ 1,345 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,345 Sqft ∙ Built 1966
    LEASED 03/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.68
    •  
  • 6103 Vale Ct San Jose, 5
    • 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.55
    •  
PROPERTY LISTING DETAILS
Yvonne Zinsman
Keller Williams San Jose Gateway
BESbswy