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6742 Cielito Way San Jose, CA 95119

4 Beds 2 Baths 1,790 sqft Built 1969

$1,025,000

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $572.63
  • 95 Days on Market
  • MLS # : ML81811293
  • Updated Date : 12/18/2020 at 15:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,790 sqft
  • Baths : 2 full
Listing Agent

Quintessential Real Estate Firm, Inc.

Listing Agent's Description

Come look at this spacious home tucked away in the quiet Rancho Santa Teresa neighborhood! This lovely home has served as the comfortable abode to one family for many years. Freshened up and ready for the next residents! The living room has a high ceiling and a wood burning fireplace. You will have your choice of two master bedrooms with wall-to-wall closets, one being on the first floor with access to the large backyard via a sliding door. The backyard boasts a beautiful swimming pool with a diving board and slide! Santa Teresa Golf Course, hiking trails, Kaiser Hospital, access to Hwys 85 and 101, shopping and restaurants all nearby!

SEE MORE

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
Baldwin Elementary School Primary Regular 396 14 5
Bernal Intermediate School Middle Regular 807 36 7
Santa Teresa High School High Magnet 2,306 89 9

Baldwin Elementary School

  • Education Level: Primary
  • # of students: 396
  • # of teachers: 14
5
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
 

$922,500$1,127,500$1,025,000

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$3,782
Property Tax -$1,228
Property Insurance -$70
Property Management Fees -$130
CASH FLOW
-$1,870

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.

$1,025,000

PROJECTED PRICE

$3,340

PROJECTED RENT

0.33%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$277,375

INVESTMENT

$277,375

Down Payment
$256,250
Rehab Estimate
$5,750
Closing Costs
$15,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,782

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $256,250
Loan Amount $768,750
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$36

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
  • $3,317

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1953$3,3004$3,895
$3,895
RENT COMPS ANALYSIS
  • 6742 Cielito Way San Jose, CA 1
    • 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 195 Fairway Glen Ln San Jose, CA 2
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1971
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.93
    •  
  • 7100 Indian Wells Ct San Jose, CA 3
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1971
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.81
    •  
  • 7250 Rosencrans Way San Jose, CA 4
    • 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
    •  
PROPERTY LISTING DETAILS
Sally-anne Peterson
Quintessential Real Estate Firm, Inc.
BESbswy