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5820 Soltero Dr San Jose, CA 95123

3 Beds 2 Baths 1,755 sqft Built 1972

$1,100,000

List Price

$3,580

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $626.78
  • 2 Days on Market
  • MLS # : ML81824060
  • Updated Date : 12/26/2020 at 14:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,755 sqft
  • Baths : 2 full
Listing Agent

Starritt Realtors

Listing Agent's Description

Beautiful single story lovingly maintained home.. corner lot ..desirable Blossom Valley location. Open floor plan from the family room, dining area and kitchen. Granite kitchen counters with white cabinets all freshly painted and tile floors. Separate cozy living room . New carpet in guest bedrooms. Updated Master and guest bathrooms. Sliders from Master bedroom and dining area allow views to the large private spacious backyard. Air solar that is prepaid and can easily transfer to the new owner. Refrigerator, washer and dryer stay. Interior painted throughout. Don't miss this lovely home its all ready for a new family to enjoy.

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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: 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
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,222$3,938$3,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,580
EXPENSES Loan Payment -$4,059
Property Tax -$1,228
Property Insurance -$69
Property Management Fees -$140
CASH FLOW
-$1,916

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.

$1,100,000

PROJECTED PRICE

$3,580

PROJECTED RENT

0.33%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,059

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$68

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,580

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,580
1$3,580
$3,580
RENT COMPS ANALYSIS
  • 5820 Soltero Dr San Jose, CA
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,580
    • $2.04
    •  
PROPERTY LISTING DETAILS
Sheila White
Starritt Realtors
BESbswy