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5857 Taormino Ave San Jose, CA 95123

3 Beds 2 Baths 2,335 sqft Built 1972

$1,450,000

List Price

$4,090

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $620.99
  • 4 Days on Market
  • MLS # : ML81825819
  • Updated Date : 01/15/2021 at 14:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,335 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Excellent 2,335 sq. ft. home with an open floor plan and an additional room that can be used as an office . This home was completely remodeled from the foundation up in 2008. It features an expanded master suite, spacious kitchen with granite counter tops including a large island with a sink and hardwood/marble floors throughout. Large master bathroom with built-in steam shower and bath tub with jets. The whole house is equipped with carbon salt-free water filtration system with reverse osmosis. Garage has epoxy floor coating and plenty of additional storage space. Private backyard with outdoor kitchen is great for entertaining. . New landscaping design by Water and Earth Landscape Design paid for by the seller can be transferred to new owner.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$1,305,000$1,595,000$1,450,000

PURCHASE PRICE

$3,681$4,499$4,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,090
EXPENSES Loan Payment -$5,036
Property Tax -$1,619
Property Insurance -$83
Property Management Fees -$160
CASH FLOW
-$2,808

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.

$1,450,000

PROJECTED PRICE

$4,090

PROJECTED RENT

0.28%

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$1.0M$2.0M$3.0M$4.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$390,000

INVESTMENT

$390,000

Down Payment
$362,500
Rehab Estimate
$5,750
Closing Costs
$21,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,036

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $362,500
Loan Amount $1,087,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$37

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,090

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $4,328

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$4,090
1$4,0902$4,1003$4,1504$4,975
$4,975
RENT COMPS ANALYSIS
  • 5857 Taormino Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $4,090
    • $1.75
    •  
  • 1014 Redmond Ct San Jose, CA 2
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1967
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.92
    •  
  • 6468 Hirabayashi Dr San Jose, CA 3
    • 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 1989
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $1.74
    •  
  • 6068 Burnbank Pl San Jose, CA 4
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1976
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,975
    • $1.90
    •  
PROPERTY LISTING DETAILS
Michaela Kusner
Coldwell Banker Realty
BESbswy