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PROPERTY INFO
FACTS
- Single Family
- Built In 1974
- Price/Sqft : $554.08
- 3 Days on Market
- MLS # : ML81822966
- Updated Date : 12/12/2020 at 19:37
CONSTRUCTION
- Beds : 4
- Floor Size : 2,256 sqft
- Baths : 2 full , 1 half
Listing Agent
Greenwell Realty
Listing Agent's Description
Semi Open House this Saturday & Sunday, December 12th & 13th, from 2:30pm to 4:30pm * Large home tucked away on a lovely cul-de-sac * 4 Bedrooms / 2.5 Bathrooms with 2,256 SF & 10,873 SF Lot * Newly remodeled 2.5 bathrooms with modern wall hung cabinetry, porcelain tile shower surround & flooring, new light fixtures, new mirrors * New carpet & pad flooring throughout front living room, stairwell & upstairs communal areas & bedrooms * Newer owned Tesla 4 KWh solar panel energy system brings electricity bill to near zero * New copper water piping including to the main water line * New Kelly Moore interior & exterior paint * Newer central heat & air conditioning/cooling * Double pane Milgard vinyl windows * Laundry is located in its own laundry room, near the garage * Upstairs loft ties in upstairs and downstairs living spaces * Ginormous backyard watered via automatic sprinkler system, perfect for sunny gardening & playing futbol
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MARKET HIGHLIGHTS
- 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)
- San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Rancho Santa Teresa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rancho Santa Teresa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,830 |
| EXPENSES | Loan Payment | -$4,612 |
| Property Tax | -$1,509 | |
| Property Insurance | -$82 | |
| Property Management Fees | -$149 | |
|
CASH FLOW
-$2,522
|
||
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.
$1,250,000
PROJECTED PRICE
$3,830
PROJECTED RENT
0.31%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$337,000
LOAN DETAILS
$4,612
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $312,500 |
| Loan Amount | $937,500 |
-0.08
YEARS SAVED
-$31
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$4,181
COMP ESTIMATED VALUE -
$1.85
COMP AVG. RENT PER SQFT
Comps Range
-
6544 Hercus Ct San Jose, CA 1
- 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1974
![property image]()
- Rent
- Rent Per SQFT
- $0
- $0.00
-
467 Curie Dr San Jose, CA 2
- 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1976
![property image]()
LEASED 11/22/19- Rent
- Rent Per SQFT
- $3,849
- $1.71
-
159 Venado Way San Jose, CA 3
- 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1966
![property image]()
LEASED 10/18/19- Rent
- Rent Per SQFT
- $3,980
- $1.82
-
363 El Portal Way San Jose, CA 4
- 5 beds 3 baths ∙ 2,215 Sqft ∙ Built 1972 5 beds 3 baths ∙ 2,215 Sqft ∙ Built 1972
![property image]()
LEASED 08/29/20- Rent
- Rent Per SQFT
- $4,495
- $2.03
PROPERTY LISTING DETAILS
Greenwell Realty
