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593 Chapman Ct Santa Clara, CA 95050

3 Beds 3 Baths 2,029 sqft Built 1925

INVESTimate

$1,100,000

List Price

$3,950

$3,700 - $4,200

Rent Est.

$1,258,290  ( +14.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1925
  • Price/Sqft : $542.14
  • 5 Days on Market
  • MLS # : ML81806674
  • Updated Date : 08/25/2020 at 07:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,029 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty-silicon Valley

Listing Agent's Description

Welcome to the Old Quad area near Santa Clara University! Charming and well-loved, this 1925 home is centrally located for ideal access to Santa Clara University, downtown San Jose, Santana Row, and major commute hubs. Kitchen includes stainless steel appliances and plenty of granite counter space for the busy cook. Gas Cooktop for high temp cooking. Central heat and air conditioning. Living room offers built-in 20's original cabinets. Inside laundry room. Very large finished 625ft below grade room with full bath and large closet perfect for family room, large office or extra bedroom. Solar system with no lease or lien included. Garage converted to a shop and extra room which can be changed back. Santa Clara Utilities!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Old Quad

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $373k1373k

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

Neighborhood: The Old Quad

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200340036003800Rent in $8793824

* 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
Westwood Elementary School Primary Regular 443 19 7
Buchser Middle School Middle Regular 1,007 46 5
Santa Clara High School High Regular 1,911 82 7

Westwood Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 19
7
GreatSchools Rating

Buchser Middle School

  • Education Level: Middle
  • # of students: 1,007
  • # of teachers: 46
5
GreatSchools Rating

Santa Clara High School

  • Education Level: High
  • # of students: 1,911
  • # of teachers: 82
7
GreatSchools Rating
 

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

PURCHASE PRICE

$3,555$4,345$3,950

RENT

DOWN PAYMENT
FINANCING

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-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,950
EXPENSES Loan Payment -$4,059
Property Tax -$1,057
Property Insurance -$61
Property Management Fees -$154
CASH FLOW
-$1,381

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

$3,950

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.39%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

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 70% 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

0.67

YEARS SAVED

$3,749

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
  • $4,598

    COMP ESTIMATED VALUE
  • $3.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,7503$4,600
$4,600
RENT COMPS ANALYSIS
  • 593 Chapman Ct Santa Clara, 1
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1925 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1925
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1347 Lexington St Santa Clara, 2
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1940
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $3.00
    •  
  • 1111 Morse San Jose, 3
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1920
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.55
    •  
PROPERTY LISTING DETAILS
Rod Hibner
Keller Williams Realty-silicon Valley
BESbswy