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805 S 22nd St San Jose, CA 95116

4 Beds 3 Baths 1,816 sqft Built 2006

INVESTimate

$899,000

List Price

$3,760

$3,510 - $4,010

Rent Est.

$996,272  ( +10.82%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $495.04
  • 2 Days on Market
  • MLS # : ML81807766
  • Updated Date : 08/25/2020 at 20:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,816 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw Silicon City

Listing Agent's Description

Beautiful Single Family Home in the heart of San Jose. Minutes from the newly proposed Google campus & downtown of San Jose. Featuring 4 beds/ 2.5 baths, 1,816 Sq.Ft. Home with 9-feet high ceilings, dual pane windows, light & bright, recessed lights, pergo floor through out. Larger master suite with walk-in closet, double sink, separate shower & tub. Central AC. Low maintenance side and back yard. Easy access to freeway 101 and 280/680. Close to parks, schools & shopping center.

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: McKinley

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: McKinley

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
Olinder Elementary School Primary Regular 469 26 2
Burnett Middle School Middle Magnet 877 45 3
San Jose High Academy High Magnet 1,034 51 4

Olinder Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
2
GreatSchools Rating

Burnett Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 45
3
GreatSchools Rating

San Jose High Academy

  • Education Level: High
  • # of students: 1,034
  • # of teachers: 51
4
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$3,384$4,136$3,760

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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,760
EXPENSES Loan Payment -$3,317
Property Tax -$996
Property Insurance -$71
HOA -$120
Property Management Fees -$147
CASH FLOW
-$891

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.

$899,000

PROJECTED PRICE

$3,760

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 10.82%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$10,867

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
  • $4,304

    COMP ESTIMATED VALUE
  • $2.37

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,600
$4,600
RENT COMPS ANALYSIS
  • 805 S 22nd St San Jose, 1
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 255 N 19th St San Jose, 2
    • 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2019
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.37
    •  
PROPERTY LISTING DETAILS
Kim-an Truong
Kw Silicon City
BESbswy