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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 95020
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$209,787
LOAN DETAILS
$2,674
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $192,488 |
| Loan Amount | $577,463 |
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
-
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
The Realty Society
