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6016 Mcabee Rd San Jose, CA 95120

4 Beds 3 Baths 2,219 sqft Built 1972

INVESTimate

$1,522,000

List Price

$4,440

$4,190 - $4,690

Rent Est.

$1,691,703  ( +11.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $685.89
  • 6 Days on Market
  • MLS # : ML81807276
  • Updated Date : 08/24/2020 at 03:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,219 sqft
  • Baths : 2 full , 1 half
Listing Agent

8 Blocks Real Estate

Listing Agent's Description

This Almaden beauty checks all of the boxes. It is a bright, spacious single-level home on a large corner lot with a sparkling backyard pool, spa & gazebo ~ party central! Upgrades & amenities include modernized kitchen & baths, high-end appliances, hardwood floors, Nest thermostat, overhead/recessed lighting & flexible living spaces. Gather your family around this stunning kitchen featuring granite countertops, glass tile backsplash, espresso cabinetry, high end stainless steel appliances (including a wine & standard refrigerator) & informal dining options. The sunlit living room is adjacent to an entertainment room with a large wet bar (or formal dining room). The family room has a warm fireplace and leads directly to the backyard patio for dining al fresco anytime. Four bedrooms include an expansive master suite w/his & her closets & luxurious remodeled bath. Indoor laundry with Samsung washer/dryer. Near Whole Foods, Almaden Ranch shopping/dining, trails, parks & great schools!

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: Guadalupe Oak Grove

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Guadalupe Oak Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q220002200240026002800300032003400360038004000420044004600Rent in $19074644

* 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
Los Alamitos Elementary School Primary Regular 722 24 8
Castillero Middle School Middle Regular 1,222 54 6
Pioneer High School High Regular 1,570 67 9

Los Alamitos Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 24
8
GreatSchools Rating

Castillero Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 54
6
GreatSchools Rating

Pioneer High School

  • Education Level: High
  • # of students: 1,570
  • # of teachers: 67
9
GreatSchools Rating
 

$1,369,800$1,674,200$1,522,000

PURCHASE PRICE

$3,996$4,884$4,440

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$5.0M

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$5.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,440
EXPENSES Loan Payment -$5,616
Property Tax -$1,700
Property Insurance -$81
Property Management Fees -$173
CASH FLOW
-$3,129

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.

$1,522,000

PROJECTED PRICE

$4,440

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.15%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$409,080

INVESTMENT

$409,080

Down Payment
$380,500
Rehab Estimate
$5,750
Closing Costs
$22,830

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,616

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $380,500
Loan Amount $1,141,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$46

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,440

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $4,194

    COMP ESTIMATED VALUE
  • $1.89

    COMP AVG. RENT PER SQFT
Comps Range
$4,100
1$4,1002$4,1503$4,4404$4,875
$4,875
RENT COMPS ANALYSIS
  • 6016 Mcabee Rd San Jose, 3
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,440
    • $2.00
    •  
  • 1014 Redmond Ct San Jose, 1
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1967
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.92
    •  
  • 6468 Hirabayashi Dr San Jose, 2
    • 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 1989
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $1.74
    •  
  • 5876 Sentinel St San Jose, 4
    • 4 beds 2 baths ∙ 2,423 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,423 Sqft ∙ Built 1976
    property image
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,875
    • $2.01
    •  
PROPERTY LISTING DETAILS
Mei Ling
8 Blocks Real Estate
BESbswy