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6709 Elwood Rd San Jose, CA 95120

5 Beds 3 Baths 2,377 sqft Built 1974

$1,750,000

List Price

$4,970

$4.7K - $5.2K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $736.22
  • 7 Days on Market
  • MLS # : ML81821775
  • Updated Date : 12/05/2020 at 16:14
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,377 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

A Delightful 5 Bedroom/3 Bathroom Home in Beautiful Sought-After Almaden Valley. Desirable Floorplan featuring the Master plus 2 Bedrooms & 2 Bathrooms on the ground floor with 2 Bedrooms & 1 Bathroom upstairs. Separate Family Room with sun-tunnels, recessed lights, & gas insert fireplace. Elegant Dining area with chandelier & nearby built-in wine storage. Formal Living room with slider access to a roomy backyard that features a fabulous pergola, sandbox/firepit, shed, & fruit trees. Enjoy the inviting kitchen with gas cooktop, granite countertops, stainless steel appliances, tray ceiling, recessed lights, & views of the backyard. Benefit from Central A/C, inside laundry, dual pane windows, plantation shutters, ceiling fans, attached 3-Car Garage (1 Bay currently being used as a playroom), in-ground basketball hoop, & Excellent nearby Schools: Williams Elementary, Bret Harte Middle, & Leland High. Make Almaden Valley your home within a breath-taking picturesque Silicon Valley setting!

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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: Glenview Serenity

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1695k

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

Neighborhood: Glenview Serenity

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
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
 

$1,575,000$1,925,000$1,750,000

PURCHASE PRICE

$4,473$5,467$4,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,970
EXPENSES Loan Payment -$6,457
Property Tax -$1,954
Property Insurance -$84
Property Management Fees -$194
CASH FLOW
-$3,719

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.

$1,750,000

PROJECTED PRICE

$4,970

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.3%
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$469,500

INVESTMENT

$469,500

Down Payment
$437,500
Rehab Estimate
$5,750
Closing Costs
$26,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $437,500
Loan Amount $1,312,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$79

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
  • $4,936

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,1003$4,9954$6,000
$6,000
RENT COMPS ANALYSIS
  • 6709 Elwood Rd San Jose, CA 1
    • 5 beds 3 baths ∙ 2,377 Sqft ∙ Built 1974 5 beds 3 baths ∙ 2,377 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1014 Redmond Ct San Jose, CA 2
    • 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
    •  
  • 6641 Barnsdale Ct San Jose, CA 3
    • 5 beds 3 baths ∙ 2,649 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,649 Sqft ∙ Built 1978
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $1.89
    •  
  • 6845 Hampton Dr San Jose, CA 4
    • 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1973
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.42
    •  
PROPERTY LISTING DETAILS
Kristin 'kitty' Mora
Coldwell Banker Realty
BESbswy