Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

803 Cascade Dr San Jose, CA 95129

3 Beds 2 Baths 1,403 sqft Built 1955

$1,680,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $1,197.43
  • 5 Days on Market
  • MLS # : ML81819960
  • Updated Date : 11/11/2020 at 22:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,403 sqft
  • Baths : 2 full
Listing Agent

Maxreal Property

Listing Agent's Description

Welcome to this newly remodeled, single-level home located in the heart of Silicon Valley. Open floor plan with 9ft tray ceiling in kitchen/ living area. New Milgard title 24 green energy windows. New drywalls throughout house including garage. New insulations in exterior walls & ceilings. New concrete driver way, side walk & back yard, New landscaping with auto sprinkler & drip system. New 200 AMP main electrical panel, New 60 AMP subpanel with 50 AMP car charge in garage. GFCI & AFCI breakers per new code. New wires throughout the house. New 60KBTU high efficiency furnace & AC /new duct. New water line & new sewer lines throughout the house. Updated chef's kitchen with new maple cabinets, Quartz counter tops & waterfall island. This home features a large master suite & luxurious bathrooms, engineering hardwood floors, designer LED lighting, stainless steel appliances, wine cooler. Easy access to schools, tech companies, freeways, shops & restaurant, 303 sq. foot addition with permit.

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

Neighborhood: Strawberry Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1677k

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

Neighborhood: Strawberry Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $16674493

* 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
Easterbrook Discovery School Primary Regular 1,027 45 8
Easterbrook Discovery School Middle Regular 1,027 45 8
Prospect High School High Regular 1,343 60 8

Easterbrook Discovery School

  • Education Level: Primary
  • # of students: 1,027
  • # of teachers: 45
8
GreatSchools Rating

Easterbrook Discovery School

  • Education Level: Middle
  • # of students: 1,027
  • # of teachers: 45
8
GreatSchools Rating

Prospect High School

  • Education Level: High
  • # of students: 1,343
  • # of teachers: 60
8
GreatSchools Rating
 

$1,512,000$1,848,000$1,680,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$6,198
Property Tax -$1,948
Property Insurance -$61
Property Management Fees -$137
CASH FLOW
-$4,844

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.

$1,680,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.21%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$70k-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$450,950

INVESTMENT

$450,950

Down Payment
$420,000
Rehab Estimate
$5,750
Closing Costs
$25,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$6,198

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $420,000
Loan Amount $1,260,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$5,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $2.49

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,500
$3,500
RENT COMPS ANALYSIS
  • 803 Cascade Dr San Jose, CA
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.49
    •  
PROPERTY LISTING DETAILS
Yan Tian
Maxreal Property
BESbswy