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69 Mill Stone Ln San Jose, CA 95136

3 Beds 3 Baths 1,773 sqft Built 1988

$998,000

List Price

$3,530

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $562.89
  • 4 Days on Market
  • MLS # : BE40930901
  • Updated Date : 12/03/2020 at 09:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,773 sqft
  • Baths : 2 full , 1 half
Listing Agent

Alex Cyriac, Re Broker

Listing Agent's Description

Gorgeous Blossom Valley newly remodeled home. Bright open floor plan with soaring ceiling. LED recessed lights in every room create an open & bright atmosphere .Beautiful upgraded kitchen has granite counter tops, custom cherry cabinets and all new stainless steel GE appliances , Electric Range/Stove, Dishwasher, Refrigerator and Microwave. New waterproof Laminated 1st floor. Stairs and 2nd floor new upgraded carpeting. All bathrooms remodeled with Cabinets and granite counter and sinks. Wi-Fi implemented garage door. Move-in ready. Close to schools, shopping and public transportation.

SEE MORE

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: Deer Run

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $362k1220k

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

Neighborhood: Deer Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17513804

* 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
Hayes Elementary School Primary Regular 517 23 6
Hayes Elementary School Middle Regular 517 23 6
Oak Grove High School High Magnet 1,903 78 6

Hayes Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 23
6
GreatSchools Rating

Hayes Elementary School

  • Education Level: Middle
  • # of students: 517
  • # of teachers: 23
6
GreatSchools Rating

Oak Grove High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 78
6
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,177$3,883$3,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,530
EXPENSES Loan Payment -$3,682
Property Tax -$1,205
Property Insurance -$70
HOA -$95
Property Management Fees -$138
CASH FLOW
-$1,660

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.

$998,000

PROJECTED PRICE

$3,530

PROJECTED RENT

0.35%

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$5.0k

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$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$83

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,530

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $3,771

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,4953$3,5304$4,000
$4,000
RENT COMPS ANALYSIS
  • 69 Mill Stone Ln San Jose, CA 3
    • 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $3,530
    • $1.99
    •  
  • 478 Verano Ct San Jose, CA 1
    • 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 1989
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.94
    •  
  • 240 Branham Ln San Jose, CA 2
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1976
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.27
    •  
  • 5894 Paddon Cir San Jose, CA 4
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.17
    •  
PROPERTY LISTING DETAILS
Alex Cyriac
Alex Cyriac, Re Broker
BESbswy