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6061 Foothill Glen Ct San Jose, CA 95123

4 Beds 3 Baths 2,124 sqft Built 1970

$1,199,000

List Price

$3,810

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $564.50
  • 4 Days on Market
  • MLS # : ML81821520
  • Updated Date : 11/26/2020 at 11:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,124 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great Acadia family home in Blossom Valley. Formal entry. Large living and dining areas. Spacious eat-in kitchen with plenty of cabinet and counter space, double ovens and view of the backyard and access to large deck. Sunken family room with fireplace and newer sliding glass door to backyard. Also on this level are a powder room and indoor laundry. Large 2 car garage with sideyard access and storage. Generous master bedroom spans the rear of the house with a large walk-in closet, ensuite bathroom and view of Santa Teresa Foothills. Upstairs are 3 secondary bedrooms which share a large hallway bathroom. House also has central AC, whole house fan, and numerous ceiling fans. This home is ready for the next family.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: West Santa Teresa Foothill

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1234k

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

Neighborhood: West Santa Teresa Foothill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
 

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,429$4,191$3,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,810
EXPENSES Loan Payment -$4,424
Property Tax -$1,339
Property Insurance -$78
Property Management Fees -$149
CASH FLOW
-$2,180

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.

$1,199,000

PROJECTED PRICE

$3,810

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.7%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,424

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$51

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,810

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $4,128

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,810
1$3,8102$4,0003$4,1004$4,150
$4,150
RENT COMPS ANALYSIS
  • 6061 Foothill Glen Ct San Jose, CA 1
    • 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $3,810
    • $1.79
    •  
  • 5894 Paddon Cir San Jose, CA 2
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.17
    •  
  • 1014 Redmond Ct San Jose, CA 3
    • 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 4
    • 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
    •  
PROPERTY LISTING DETAILS
Thomas G. Nixon
Coldwell Banker Realty
BESbswy