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PROPERTY INFO
FACTS
- Single Family
- Built In 1978
- Price/Sqft : $824.01
- 3 Days on Market
- MLS # : ML81819889
- Updated Date : 11/27/2020 at 18:16
CONSTRUCTION
- Beds : 2
- Floor Size : 983 sqft
- Baths : 1 full
Listing Agent
California Gold Realty
Listing Agent's Description
Why pay an Expensive HOA fee when a tastefully updated Single Family home is available? This home boasts a spacious living room with Vaulted Ceilings and custom tile Fireplace. Remodeled Kitchen is equipped with newer Stainless Steel appliances. The updated 1 and 1/4 bathroom features updated tile and a new Vanities. Throughout the home is brand new laminate flooring. The Master bedroom includes a 48 inch matching Vanity and walk-in closet! Fresh interior paint thoughout whole home. Step out the back door to a fully landscaped low Maintenance backyard with an Artificial turf Lawn and Stamped concrete patio area. Roof, exterior paint, Furnance, AC and Windows all less than 7 years old! Great location across from Martial Cottle park and walking trails, within 1 mile of multiple shopping centers and grocery stores, and less than 3 miles away for Oakridge mall! Close and easy access to both 85 and 101 freeways for the morning commute. This home is turnkey and ready to go. Dont miss out!
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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: Banana Grove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Banana Grove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,610 |
| EXPENSES | Loan Payment | -$2,989 |
| Property Tax | -$978 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,536
|
||
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.
$809,999
PROJECTED PRICE
$2,610
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 5.00% |
| Appreciation Year (1-5) | 11.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.19% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$220,400
LOAN DETAILS
$2,989
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $202,500 |
| Loan Amount | $607,499 |
0
YEARS SAVED
$20
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,521
COMP ESTIMATED VALUE -
$2.57
COMP AVG. RENT PER SQFT
Comps Range
-
5316 Dexter Dr San Jose, CA 1
- 2 beds 1 baths ∙ 983 Sqft ∙ Built 1978 2 beds 1 baths ∙ 983 Sqft ∙ Built 1978
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- Rent
- Rent Per SQFT
- $0
- $0.00
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Don Carlos Ct San Jose, CA 2
- 2 beds 2 baths ∙ 950 Sqft ∙ Built 1970 2 beds 2 baths ∙ 950 Sqft ∙ Built 1970
![property image]()
LEASED 10/07/20- Rent
- Rent Per SQFT
- $2,350
- $2.47
-
256 Tradewinds Ct 2 San Jose, CA 3
- 2 beds 1 baths ∙ 903 Sqft ∙ Built 1970 2 beds 1 baths ∙ 903 Sqft ∙ Built 1970
![property image]()
LEASED 03/31/20- Rent
- Rent Per SQFT
- $2,400
- $2.66
PROPERTY LISTING DETAILS
California Gold Realty
