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601 Calero Ave San Jose, CA 95123

4 Beds 2 Baths 2,100 sqft Built 1977

INVESTimate

$1,199,999

List Price

$3,880

$3,630 - $4,130

Rent Est.

$1,347,839  ( +12.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1977
  • Price/Sqft : $571.43
  • 7 Days on Market
  • MLS # : ML81804906
  • Updated Date : 08/24/2020 at 15:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Located in wonderful Blossom Valley! 4 bedroom, 2 bath, home plus bonus room. This home has 2100 square feet of living space. Perfect home for large or extended families. The home has freshly painted interior and upgrades. Updated Kitchen with granite countertops, center island, dual built-in oven, gas cooktop, open layout to the casual dining & family room. Master Suite has a walk-in closet and other outstanding features of the home include: Dual zone heating/cooling, updated electrical, newer light fixtures throughout home, hardwood floor. Large backyard that's over 9000 square feet- perfect for entertaining, outdoor living, space for kids to run & play, and has many mature fruit trees. Don't miss out on this great home!

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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: Blossom Valley

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $372k1220k

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

Neighborhood: Blossom Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17803804

* 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
Herman Intermediate School And Adventure Primary Regular 822 38 8
Herman Intermediate School And Adventure Middle Regular 822 38 8
Santa Teresa High School High Magnet 2,306 89 9

Herman Intermediate School And Adventure

  • Education Level: Primary
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Herman Intermediate School And Adventure

  • Education Level: Middle
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Santa Teresa High School

  • Education Level: High
  • # of students: 2,306
  • # of teachers: 89
9
GreatSchools Rating
 

$1,079,999$1,319,999$1,199,999

PURCHASE PRICE

$3,492$4,268$3,880

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

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 $3,880
EXPENSES Loan Payment -$4,427
Property Tax -$1,449
Property Insurance -$78
Property Management Fees -$151
CASH FLOW
-$2,225

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.

$1,199,999

PROJECTED PRICE

$3,880

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.32%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,427

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $300,000
Loan Amount $899,999
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$27

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
  • $4,284

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,6003$4,0004$4,100
$4,100
RENT COMPS ANALYSIS
  • 601 Calero Ave San Jose, 1
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • Azule Ave San Jose, 2
    • 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 1963
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.03
    •  
  • 5894 Paddon Cir San Jose, 3
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.17
    •  
  • 1014 Redmond Ct San Jose, 4
    • 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
    •  
PROPERTY LISTING DETAILS
Marylou Lopez
Compass
BESbswy