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7431 Dowdy St Gilroy, CA 95020

4 Beds 2 Baths 1,497 sqft Built 1944

$769,950

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1944
  • Price/Sqft : $514.33
  • 4 Days on Market
  • MLS # : ML81824934
  • Updated Date : 01/08/2021 at 12:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,497 sqft
  • Baths : 2 full
Listing Agent

The Realty Society

Listing Agent's Description

2 Homes on 1 Lot in the heart of "old town" Gilroy, Primary Home is a 4 bed/2 bath Bungalow at about 1,500 s.f. (estimated) with a proper master suite (with own entrance/foyer), classic hardwood floors throughout, built in an era of charm, usable basement space great for storage, spacious yards and driveway. ADU/Guest House: 1 bedroom/1 bath, complete with its own family room, kitchen, storage, and laundry room, storage shed, yard, private entry. Great property for a buyer to build sweat equity, lots of options, rent roll and I/E/proforma available upon request.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $346k1220k

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16443804

* 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
El Roble Elementary School Primary Regular 645 25 3
Ascencion Solorsano Middle School Middle Regular 853 28 6
Gilroy High School High Regular 1,364 65 5

El Roble Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 25
3
GreatSchools Rating

Ascencion Solorsano Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 28
6
GreatSchools Rating

Gilroy High School

  • Education Level: High
  • # of students: 1,364
  • # of teachers: 65
5
GreatSchools Rating
 

$692,955$846,945$769,950

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$2,674
Property Tax -$793
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$890

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.

$769,950

PROJECTED PRICE

$2,770

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$209,787

INVESTMENT

$209,787

Down Payment
$192,488
Rehab Estimate
$5,750
Closing Costs
$11,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,674

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $192,488
Loan Amount $577,463
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,755

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $2,695

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,770
$2,770
RENT COMPS ANALYSIS
  • 7431 Dowdy St Gilroy, CA 2
    • 4 beds 2 baths ∙ 1,497 Sqft ∙ Built 1944 4 beds 2 baths ∙ 1,497 Sqft ∙ Built 1944
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $1.85
    •  
  • Broadway Gilroy, CA 1
    • 3 beds 1 baths ∙ 1,392 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,392 Sqft ∙ Built 1951
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.80
    •  
PROPERTY LISTING DETAILS
Ryan Mull
The Realty Society
BESbswy