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5813 Soltero Dr San Jose, CA 95123

4 Beds 2 Baths 1,683 sqft Built 1972

$1,187,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $705.29
  • 6 Days on Market
  • MLS # : ML81817983
  • Updated Date : 10/31/2020 at 15:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,683 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Contemporary & beautifully remodeled home in great Blossom Valley neighborhood! Spacious kitchen features Quartz counters, stainless steel appliances, white shaker cabinets, subway tile backsplash, double oven w/ range hood, oversize sink, & two skylights which flood both kitchen and dining area with natural light! Spacious master bedroom suite w/ sliding door to backyard, remodeled bathroom w/ frameless glass shower doors, and walk-in closet complete w/ custom closet organizer. Step down living room w/ view window & ideally setup for TV watching enjoyment. Separate family room w/ cozy fireplace & mantle, & sliding door to patio & backyard. Relax in the private backyard which features various Citrus trees, Rose bushes, a pergola, concrete patio, & small sport court area. Other features: gleaming hardwood floors throughout, central AC/heating, dual pane windows, & fresh interior paint. Ideally located within short driving distance to Oakridge Mall, Costco, Whole Foods, & 85/87 freeways

SEE MORE

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: Cahalan

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $371k1220k

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

Neighborhood: Cahalan

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17663804

* 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
Allen At Steinbeck Elementary School Primary Regular 763 31 5
Castillero Middle School Middle Regular 1,222 54 6
Gunderson High School High Magnet 1,149 52 5

Allen At Steinbeck Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 31
5
GreatSchools Rating

Castillero Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 54
6
GreatSchools Rating

Gunderson High School

  • Education Level: High
  • # of students: 1,149
  • # of teachers: 52
5
GreatSchools Rating
 

$1,068,300$1,305,700$1,187,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$4,380
Property Tax -$1,325
Property Insurance -$68
Property Management Fees -$140
CASH FLOW
-$2,323

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.

$1,187,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.7%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$320,305

INVESTMENT

$320,305

Down Payment
$296,750
Rehab Estimate
$5,750
Closing Costs
$17,805

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,380

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $296,750
Loan Amount $890,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$7

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
  • $3,694

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,6003$3,8004$3,9005$4,000
$4,000
RENT COMPS ANALYSIS
  • 5813 Soltero Dr San Jose, CA 1
    • 4 beds 2 baths ∙ 1,683 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,683 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 755 Azule Ave San Jose, CA 2
    • 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 1963
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.03
    •  
  • 6121 Maree Ct San Jose, CA 3
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1970
    property image
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.24
    •  
  • 1292 Juli Lynn Dr San Jose, CA 4
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1971
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.34
    •  
  • 5894 Paddon Cir San Jose, CA 5
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.17
    •  
PROPERTY LISTING DETAILS
Omar Ruano
Coldwell Banker Realty
BESbswy