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8450 Hanna St Gilroy, CA 95020

3 Beds 2 Baths 1,442 sqft Built 1961

$745,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $516.64
  • 3 Days on Market
  • MLS # : ML81819200
  • Updated Date : 11/06/2020 at 21:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,442 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Quiet location near end of street with great neighbors. Near schools and easy access to Fwy 101. Large rear yard for kids to play, secured by fencing and plenty of room for your storage shed or workshop area. Beautiful gleaming honey colored hardwood flooring in living room, hall, bedrooms and bonus room all accented with wide white baseboards. Double pane windows, tile counters in kitchen and bathrooms. Roof is approximately 8 years old. Family room has been converted into a bonus/office or possible 4th bedroom with sliding doors leading to rear yard., permits unknown. A portion of the garage has been modified and walled off to accommodate for storage. This is a rental, please allow 24 hour notice for showing. Tenants are very cooperative and very accommodating.

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

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
Rod Kelley Elementary School Primary Regular 771 28 7
Ascencion Solorsano Middle School Middle Regular 853 28 6
Christopher High School High Regular 1,889 80 7

Rod Kelley Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 28
7
GreatSchools Rating

Ascencion Solorsano Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 28
6
GreatSchools Rating

Christopher High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 80
7
GreatSchools Rating
 

$670,500$819,500$745,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,749
Property Tax -$759
Property Insurance -$62
Property Management Fees -$129
CASH FLOW
-$849

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.

$745,000

PROJECTED PRICE

$2,850

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

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$203,175

INVESTMENT

$203,175

Down Payment
$186,250
Rehab Estimate
$5,750
Closing Costs
$11,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,749

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $186,250
Loan Amount $558,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$5,433

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
  • $2,596

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,500
$2,500
RENT COMPS ANALYSIS
  • 8450 Hanna St Gilroy, CA 1
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • Broadway Gilroy, CA 2
    • 3 beds 1 baths ∙ 1,392 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,392 Sqft ∙ Built 1951
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.80
    •  
PROPERTY LISTING DETAILS
Lilia Guerra
Coldwell Banker Realty
BESbswy