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6524 Pemba Dr San Jose, CA 95119

4 Beds 3 Baths 2,081 sqft Built 1970

$1,199,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $576.17
  • 3 Days on Market
  • MLS # : ML81826010
  • Updated Date : 01/16/2021 at 10:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,081 sqft
  • Baths : 2 full , 1 half
Listing Agent

1 Team Realtors

Listing Agent's Description

LUXURY & SOPHISTICATION awaits you and your family here! Renovations inside with durable and quality materials, Stainless Steel appliance package makes the kitchen area shine. 2,081 sq ft of living space including desirable master bedroom downstairs. Natural light throughout home makes space inviting and cozy. Unique separate family room that you will find nowhere else with built in rock fireplace is a showstopper! Neutral color palette easy to decorate with any type of style and preference. Ample backyard & ideal location to catch the light rail train. Gate at rear of property can be unlocked and used to walk to train station. Side yard has space and for boat or RV (hookups ready for RV). Close to new Costco store and near Village Oaks Cottle Shopping center. Kaiser Hospital nearby as well. Highway 85 and 101 are also conveniently located. 3 blocks away from Stratford Private School. This house is waiting for your most demanding clients!

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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: Rancho Santa Teresa

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Rancho Santa Teresa

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
Santa Teresa Elementary School Primary Regular 646 24 7
Bernal Intermediate School Middle Regular 807 36 7
Santa Teresa High School High Magnet 2,306 89 9

Santa Teresa Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 24
7
GreatSchools Rating

Bernal Intermediate School

  • Education Level: Middle
  • # of students: 807
  • # of teachers: 36
7
GreatSchools Rating

Santa Teresa High School

  • Education Level: High
  • # of students: 2,306
  • # of teachers: 89
9
GreatSchools Rating
 

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

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$4,165
Property Tax -$1,447
Property Insurance -$77
Property Management Fees -$137
CASH FLOW
-$2,326

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

$3,500

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.2%
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 100% down payment or higher enables the proceeds from the asset to cover all costs.

$4,165

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$37

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $1.68

    LIST RENT PER SQFT
  • $3,881

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,8953$3,9004$3,9805$4,495
$4,495
RENT COMPS ANALYSIS
  • 6524 Pemba Dr San Jose, CA 1
    • 4 beds 3 baths ∙ 2,081 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,081 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.68
    •  
  • 7250 Rosencrans Way San Jose, CA 2
    • 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 1977
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $1.82
    •  
  • 285 El Portal Way San Jose, CA 3
    • 5 beds 3 baths ∙ 2,181 Sqft ∙ Built 1970 5 beds 3 baths ∙ 2,181 Sqft ∙ Built 1970
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.79
    •  
  • 159 Venado Way San Jose, CA 4
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1966
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,980
    • $1.82
    •  
  • 363 El Portal Way San Jose, CA 5
    • 5 beds 3 baths ∙ 2,215 Sqft ∙ Built 1972 5 beds 3 baths ∙ 2,215 Sqft ∙ Built 1972
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $2.03
    •  
PROPERTY LISTING DETAILS
Gerardo Aguilar
1 Team Realtors
BESbswy