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6123 Franciscan Way San Jose, CA 95120

4 Beds 2 Baths 2,031 sqft Built 1968

$1,598,000

List Price

$4,170

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1968
  • Price/Sqft : $786.80
  • 6 Days on Market
  • MLS # : ML81818009
  • Updated Date : 10/31/2020 at 19:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,031 sqft
  • Baths : 2 full
Listing Agent

The O'halloran Group

Listing Agent's Description

Absolutely Gorgeous Single Story Ranch Home Tucked in a Desirable Almaden Neighborhood. Wonderfully Remodeled with Exceptional Upgrades Including New Luxury Vinyl Tile Floors, New Karastan Carpet, Designer Light Fixtures, LED Recessed Lighting, Custom Mecho Window Shades, Beautifully Arched Entryways, Remodeled Bathrooms, Dual Pane Windows and Sliders, High Efficiency Heating & A/C and New Pex Piping. The Stunning Chef's Kitchen Features Gorgeous Wood Cabinetry, Granite Counters, Custom Tile Backsplash, Viking 6 Burner Gas Range with Stainless Steel Hood, Built-in GE Monogram Convection Oven, Warming Drawer, Advantium Speed Cook/Microwave, 42in Refrigerator and InstaHot. The Spectacular Backyard Features a Sparkling Pool, BBQ Area, Waterfall, Blooming Flowers and Covered Redwood Deck for the Best of Outdoor Living. Excellent Curb Appeal with Stamped Colored Concrete and Lush Lawn. Fabulous Family Neighborhood in a Premier Location Convenient to Parks, Schools and Shopping. A MUST SEE!

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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: Almaden Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Almaden Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074493

* 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
 

$1,438,200$1,757,800$1,598,000

PURCHASE PRICE

$3,753$4,587$4,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,170
EXPENSES Loan Payment -$5,896
Property Tax -$1,784
Property Insurance -$76
Property Management Fees -$163
CASH FLOW
-$3,749

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.

$1,598,000

PROJECTED PRICE

$4,170

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$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$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$429,220

INVESTMENT

$429,220

Down Payment
$399,500
Rehab Estimate
$5,750
Closing Costs
$23,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$5,896

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $399,500
Loan Amount $1,198,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,170

    LIST RENT
  • $2.05

    LIST RENT PER SQFT
  • $3,900

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$4,100
1$4,1002$4,170
$4,170
RENT COMPS ANALYSIS
  • 6123 Franciscan Way San Jose, CA 2
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $4,170
    • $2.05
    •  
  • 1014 Redmond Ct San Jose, CA 1
    • 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
Tim O'halloran
The O'halloran Group
BESbswy