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781 Penitencia St Milpitas, CA 95035

3 Beds 3 Baths 1,497 sqft Built 1962

$1,148,000

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $766.87
  • 4 Days on Market
  • MLS # : ML81823999
  • Updated Date : 12/26/2020 at 12:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,497 sqft
  • Baths : 2 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Curtner Estates Single Story Beauty Elegantly Remodeled*Update Kitchen with Quart Counter Tops, Designer Cabinets, Tile Flooring & New Light Fixtures*Refinished Hardwood Flooring Through Out*Copper Plumbing*Updated Baths with Single Sink Vanities & New Light Fixtures*Two Bonus Rooms - Can be used as Office or Spare Bedroom*Custom Interior Paint*Screen Room in Back Great for Entertaining*Wood Burning Fireplace in Living Room*Walking Distance to Award Winning Curtner Elementary*Convenient Location Close to Parks, Shopping & Freeway*Must See!

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: Curtner Estates

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Curtner Estates

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17313804

* 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
Curtner Elementary School Primary Regular 735 27 9
Curtner Elementary School Middle Regular 735 27 9
Milpitas High School High Regular 3,105 117 9

Curtner Elementary School

  • Education Level: Primary
  • # of students: 735
  • # of teachers: 27
9
GreatSchools Rating

Curtner Elementary School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 27
9
GreatSchools Rating

Milpitas High School

  • Education Level: High
  • # of students: 3,105
  • # of teachers: 117
9
GreatSchools Rating
 

$1,033,200$1,262,800$1,148,000

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$4,236
Property Tax -$1,187
Property Insurance -$63
Property Management Fees -$135
CASH FLOW
-$2,161

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.

$1,148,000

PROJECTED PRICE

$3,460

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.6%
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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$309,970

INVESTMENT

$309,970

Down Payment
$287,000
Rehab Estimate
$5,750
Closing Costs
$17,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,000
Loan Amount $861,000
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$29

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,664

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,1004$3,3005$3,600
$3,600
RENT COMPS ANALYSIS
  • 781 Penitencia St Milpitas, CA 1
    • 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1830 Vegas Ave Milpitas, CA 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.22
    •  
  • 155 Manferd St Milpitas, CA 3
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1958
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.69
    •  
  • 1513 Adams Ave Milpitas, CA 4
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1960
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.56
    •  
  • 994 Pescadero St Milpitas, CA 5
    • 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1977
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.32
    •  
PROPERTY LISTING DETAILS
Malik Husain
Intero Real Estate Services
BESbswy