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753 Feller Ave San Jose, CA 95127

4 Beds 2 Baths 1,488 sqft Built 1972

INVESTimate

$780,000

List Price

$3,820

$3,570 - $4,070

Rent Est.

$868,686  ( +11.37%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $524.19
  • 7 Days on Market
  • MLS # : ML81806841
  • Updated Date : 08/24/2020 at 20:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,488 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Desirable single story 4-bedroom 2-bathroom starter home with 1,488 sq ft of living space on a huge 14,160 sq ft lot located in the quiet neighborhood of San Jose. Close to San Jose Country Club, Alum Rock Park and Sierra Vista Open Space Preserve. This house has a very functional floorplan and a good bone. Start to reap the sweet equity of the property by just performing some cosmetic upgrades. You have lots of choices and tons of potentials: live in it, remodel it, expand it, or totally rebuild it. Take advantage of the historic low interest rate too. Excellent opportunity for first-time buyers and savvy investors. Dont miss it

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: Candlestick

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: Candlestick

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17833804

* 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
Mt. Pleasant High School High Regular 1,452 67 6

Mt. Pleasant High School

  • Education Level: High
  • # of students: 1,452
  • # of teachers: 67
6
GreatSchools Rating
 

$702,000$858,000$780,000

PURCHASE PRICE

$3,438$4,202$3,820

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,820
EXPENSES Loan Payment -$2,878
Property Tax -$945
Property Insurance -$63
Property Management Fees -$149
CASH FLOW
-$215

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$780,000

PROJECTED PRICE

$3,820

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 11.37%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$50,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,820

    LIST RENT
  • $2.57

    LIST RENT PER SQFT
  • $4,300

    COMP ESTIMATED VALUE
  • $2.89

    COMP AVG. RENT PER SQFT
Comps Range
$3,750
1$3,7502$3,8003$3,820
$3,820
RENT COMPS ANALYSIS
  • 753 Feller Ave San Jose, 3
    • 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,820
    • $2.57
    •  
  • 1191 Tallahassee Dr San Jose, 1
    • 4 beds 2 baths ∙ 1,283 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,283 Sqft ∙ Built 1963
    property image
    LEASED 03/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.92
    •  
  • 1470 Mount Shasta Dr San Jose, 2
    • 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.86
    •  
PROPERTY LISTING DETAILS
Mark Wong
Compass
BESbswy