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829 Hermiston Dr San Jose, CA 95136

5 Beds 3 Baths 2,137 sqft Built 1967

INVESTimate

$1,115,999

List Price

$4,340

$4,090 - $4,590

Rent Est.

$1,229,273  ( +10.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1967
  • Price/Sqft : $522.23
  • 6 Days on Market
  • MLS # : ML81804291
  • Updated Date : 08/23/2020 at 17:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,137 sqft
  • Baths : 2 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Welcome to Pinehurst, a small neighborhood in San Jose, with its very own cabana club, offering swimming during the summer months along with multiple other activities for members. Conveniently located near shopping, light rail, Highways 87 & 85. This solid home has the perfect layout for a family, w/a large open kitchen family room that leads to the dining room and living room. One bedroom down stairs & 1/2 bath, huge laundry room with access to the back yard. 4 bedrooms upstairs with the master bedroom having it's own bathroom. Middle bathroom has been updated with marble & a soaking tub. We have renters in the home until the 14th and will have the home professionally cleaned prior to the close of escrow.

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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: Pinehurst

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Pinehurst

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
Terrell Elementary School Primary Regular 501 19 4
Muir Middle School Middle Regular 1,118 51 6
Gunderson High School High Magnet 1,149 52 5

Terrell Elementary School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 19
4
GreatSchools Rating

Muir Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 51
6
GreatSchools Rating

Gunderson High School

  • Education Level: High
  • # of students: 1,149
  • # of teachers: 52
5
GreatSchools Rating
 

$1,004,399$1,227,599$1,115,999

PURCHASE PRICE

$3,906$4,774$4,340

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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$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$3.5M$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,340
EXPENSES Loan Payment -$4,118
Property Tax -$1,246
Property Insurance -$79
Property Management Fees -$169
CASH FLOW
-$1,272

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.

$1,115,999

PROJECTED PRICE

$4,340

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.15%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$301,490

INVESTMENT

$301,490

Down Payment
$279,000
Rehab Estimate
$5,750
Closing Costs
$16,740

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,118

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $279,000
Loan Amount $836,999
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$7,311

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
  • $4,979

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,500
$4,500
RENT COMPS ANALYSIS
  • 829 Hermiston Dr San Jose, 1
    • 5 beds 3 baths ∙ 2,137 Sqft ∙ Built 1967 5 beds 3 baths ∙ 2,137 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1477 Husted Ave San Jose, 2
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.33
    •  
PROPERTY LISTING DETAILS
Pamela Alise
Intero Real Estate Services
BESbswy