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6638 Crown Blvd San Jose, CA 95120

3 Beds 2 Baths 1,856 sqft Built 1973

INVESTimate

$1,350,000

List Price

$4,230

$3,980 - $4,480

Rent Est.

$1,471,905  ( +9.03%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $727.37
  • 7 Days on Market
  • MLS # : ML81807129
  • Updated Date : 08/21/2020 at 07:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,856 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This wonderful 3 bedroom/ 2 bathroom home is located in the desirable Almaden Country Club neighborhood, with top rated schools. Close to shopping and Starbucks. Featuring a beautiful living room and separate dining room that are bathed in natural light. Curl up in front of the fire in the inviting separate family room. The large master bedroom has a nice slider bringing in natural light and inviting you into the backyard. The large kitchen has a center island and a garden window along with a nice little breakfast nook to enjoy your morning coffee. This home has been well loved and gently used...many holidays, birthdays and anniversaries have been celebrated in this home. Lots of great memories...ready for a new family to make their own memories.

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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: Almaden Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700kPrice in $380k1761k

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

Neighborhood: Almaden Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2200022002400260028003000320034003600380040004200440046004800Rent in $19074813

* 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
Williams Elementary School Primary Regular 688 23 9
Bret Harte Middle School Middle Regular 1,215 52 8
Leland High School High Regular 1,784 71 9

Williams Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 23
9
GreatSchools Rating

Bret Harte Middle School

  • Education Level: Middle
  • # of students: 1,215
  • # of teachers: 52
8
GreatSchools Rating

Leland High School

  • Education Level: High
  • # of students: 1,784
  • # of teachers: 71
9
GreatSchools Rating
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$3,807$4,653$4,230

RENT

DOWN PAYMENT
FINANCING

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$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$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$4.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,230
EXPENSES Loan Payment -$4,981
Property Tax -$1,507
Property Insurance -$72
Property Management Fees -$165
CASH FLOW
-$2,495

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.

$1,350,000

PROJECTED PRICE

$4,230

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.03%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$42

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,230

    LIST RENT
  • $2.28

    LIST RENT PER SQFT
  • $4,225

    COMP ESTIMATED VALUE
  • $2.28

    COMP AVG. RENT PER SQFT
Comps Range
$3,595
1$3,5952$3,8003$3,9004$4,230
$4,230
RENT COMPS ANALYSIS
  • 6638 Crown Blvd San Jose, 4
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $4,230
    • $2.28
    •  
  • 6554 Crown Blvd San Jose, 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1967
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,595
    • $2.25
    •  
  • 6121 Maree Ct San Jose, 2
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1970
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.24
    •  
  • 1292 Juli Lynn Dr San Jose, 3
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1971
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.34
    •  
PROPERTY LISTING DETAILS
Lori Ferrito
Coldwell Banker Realty
BESbswy