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PROPERTY INFO
FACTS
- Single Family
- Built In 1952
- Price/Sqft : $1,046.15
- 3 Days on Market
- MLS # : ML81821545
- Updated Date : 11/27/2020 at 10:04
CONSTRUCTION
- Beds : 3
- Floor Size : 1,040 sqft
- Baths : 1 full
Listing Agent
Berkshire Hathaway Home Services California Realty
Listing Agent's Description
Truly a special Mills Park elevated ranch style plan on a desirable block. Stunning bay and airport views. Enjoy the large deck with awesome bay views and pretty yard. Fresh interior and exterior paint and beautifully refinished hardwood floors. Roomy garage area, nice kitchen and bright and cheerful living and dining rooms areas. Lots of extra storage also! Very close to BART, CalTrain, SFO ,Bayhill and Tanforan Centers, and easy 101/380/280 freeway access. A wonderful home in a popular neighborhood!
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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: Mills Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mills Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $3,140 |
EXPENSES | Loan Payment | -$4,014 |
Property Tax | -$983 | |
Property Insurance | -$52 | |
Property Management Fees | -$129 | |
CASH FLOW
-$2,038
|
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$1,088,000
PROJECTED PRICE
$3,140
PROJECTED RENT
0.29%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 4.83% |
Appreciation Year (1-5) | 11.7% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 5.92% |
Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$294,070
LOAN DETAILS
$4,014
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $272,000 |
Loan Amount | $816,000 |
0
YEARS SAVED
$20
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
-
$3,489
COMP ESTIMATED VALUE -
$3.36
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Berkshire Hathaway Home Services California Realty