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564 E Empire St San Jose, CA 95112

4 Beds 3 Baths 1,712 sqft Built 1921

$1,299,900

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1921
  • Price/Sqft : $759.29
  • 3 Days on Market
  • MLS # : ML81819228
  • Updated Date : 11/06/2020 at 13:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,712 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

Nestle near Japan Town and minutes away from SJSU, you will find a Newly Rebuilt Home with premium materials, Great! Location, 5 min drive to downtown SJ, the future Google campus, & SJ Airport. This newly renovated home features 3 bedrooms & 2 full baths in the main house, an upgraded kitchen with custom-built cabinets, quartz countertops & stainless still appliances. New AC, New HVAC, New Roofs New tankless water heaters. Income property or in-law qtrs. Newly constructed 1 bd, 1 bth with full kitchen, living room, and washer/dryer. Private backyard and long driveway. Walking distance to schools, library, Backesto park, shopping centers, restaurants, and much more. Easy access to freeways 101, 680, 280, 87, 880 & 17.

SEE MORE

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: West Northside

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $306k1220k

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

Neighborhood: West Northside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $11863804

* 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
Grant Elementary School Primary Regular 587 25 3
Burnett Middle School Middle Magnet 877 45 3
San Jose High Academy High Magnet 1,034 51 4

Grant Elementary School

  • Education Level: Primary
  • # of students: 587
  • # of teachers: 25
3
GreatSchools Rating

Burnett Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 45
3
GreatSchools Rating

San Jose High Academy

  • Education Level: High
  • # of students: 1,034
  • # of teachers: 51
4
GreatSchools Rating
 

$1,169,910$1,429,890$1,299,900

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 -$4,796
Property Tax -$1,453
Property Insurance -$68
Property Management Fees -$137
CASH FLOW
-$2,954

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.

$1,299,900

PROJECTED PRICE

$3,500

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 14.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$350,224

INVESTMENT

$350,224

Down Payment
$324,975
Rehab Estimate
$5,750
Closing Costs
$19,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,796

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,975
Loan Amount $974,925
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$103

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
  • $2.04

    LIST RENT PER SQFT
  • $3,861

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,5003$4,180
$4,180
RENT COMPS ANALYSIS
  • 564 E Empire St San Jose, CA 2
    • 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 1921 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 1921
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.04
    •  
  • 263 Washington St San Jose, CA 1
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.12
    •  
  • 454 N 21st St San Jose, CA 3
    • 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 1910 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 1910
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,180
    • $2.39
    •  
PROPERTY LISTING DETAILS
Si Nguyen
Exp Realty Of California Inc.
BESbswy