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601 Choctaw Dr San Jose, CA 95123

4 Beds 2 Baths 1,495 sqft Built 1968

INVESTimate

$1,049,000

List Price

$3,610

$3,360 - $3,860

Rent Est.

$1,178,237  ( +12.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1968
  • Price/Sqft : $701.67
  • 6 Days on Market
  • MLS # : ML81807272
  • Updated Date : 08/24/2020 at 19:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,495 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-silicon Valley

Listing Agent's Description

The views are amazing! A beautiful light and bright home that's nestled in a lovely neighborhood of Blossom Valley with views of the hills. It features big windows to let the sun in, two separate living spaces-Family Room and Living Room, plus 4 bedrooms! A great layout for working at home and doing school from home. Newer roof, dual pane windows, new appliances, lovely laminate flooring in the living room and family room, new carpet in the bedrooms, updated bathrooms, whole house fan, added insulation...what's not to love! The landscaping is easy maintenance with a lovely pool perfect for hot summers and warm fall weather! Close to schools, shopping, freeways, and hiking trails.

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: 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
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$3,249$3,971$3,610

RENT

DOWN PAYMENT
FINANCING

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,610
EXPENSES Loan Payment -$3,870
Property Tax -$1,266
Property Insurance -$63
Property Management Fees -$141
CASH FLOW
-$1,731

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.

$1,049,000

PROJECTED PRICE

$3,610

PROJECTED RENT

0.34%

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$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,610

    LIST RENT
  • $2.41

    LIST RENT PER SQFT
  • $3,883

    COMP ESTIMATED VALUE
  • $2.6

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,2953$3,6004$3,6005$3,610
$3,610
RENT COMPS ANALYSIS
  • 601 Choctaw Dr San Jose, 5
    • 4 beds 2 baths ∙ 1,495 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,495 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $3,610
    • $2.41
    •  
  • 443 Colfax Dr San Jose, 1
    • 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1965
    LEASED 04/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.35
    •  
  • 5924 Mohawk Dr San Jose, 2
    • 3 beds 2 baths ∙ 1,173 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,173 Sqft ∙ Built 1967
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.81
    •  
  • 569 Shawnee Ln San Jose, 3
    • 4 beds 2 baths ∙ 1,345 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,345 Sqft ∙ Built 1966
    LEASED 03/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.68
    •  
  • 6103 Vale Ct San Jose, 4
    • 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.55
    •  
PROPERTY LISTING DETAILS
Kimberly Leal
Keller Williams Realty-silicon Valley
BESbswy