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7681 Church St B Gilroy, CA 95020

2 Beds 3 Baths 1,367 sqft Built 1991

$659,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $482.08
  • 4 Days on Market
  • MLS # : ML81825812
  • Updated Date : 01/14/2021 at 14:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,367 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cardinalli Real Estate

Listing Agent's Description

This is a wonderful two bedroom , two and one-half bathroom, two story home in Gilroy. The two upstairs bedrooms each have a full master bathroom with a guest half bathroom downstairs. Gas Fire Place, Dual Pane windows, electric stove and range, garbage disposal, built in microwave, dishwasher and refrigerator with water and ice. Large two car garage with washer and dryer hook ups and a laundry sink. Shared common front area with a private fenced in back yard. One common wall with your neighbor, Close to shopping and highways. Available Now !

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
 

$593,100$724,900$659,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,289
Property Tax -$679
Property Insurance -$60
Property Management Fees -$129
CASH FLOW
-$627

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.

$659,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.38%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,385

INVESTMENT

$180,385

Down Payment
$164,750
Rehab Estimate
$5,750
Closing Costs
$9,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,289

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $164,750
Loan Amount $494,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,992

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $2,269

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,530
$2,530
RENT COMPS ANALYSIS
  • 7681 Church St B Gilroy, CA 2
    • 2 beds 3 baths ∙ 1,367 Sqft ∙ Built 1991 2 beds 3 baths ∙ 1,367 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.85
    •  
  • 8266 Gaunt Ave 1-2 Gilroy, CA 1
    • 2 beds 2 baths ∙ 1,265 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,265 Sqft ∙ Built 1983
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.66
    •  
PROPERTY LISTING DETAILS
Steve Cardinalli
Cardinalli Real Estate
BESbswy