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8531 Wayland Ct. Ct Gilroy, CA 95020

3 Beds 3 Baths 1,712 sqft Built 2005

$749,900

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $438.03
  • 4 Days on Market
  • MLS # : ML81818943
  • Updated Date : 11/05/2020 at 11:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,712 sqft
  • Baths : 3 full
Listing Agent

Re/max Gold Cupertino

Listing Agent's Description

Wonderful open concept home. Home is located within a gated community, a close walk to park and green belts. Light and bright throughout. Solar energy (solar equipment is owned, not leased, custom plantation shutters, custom paint throughout, maple cabinetry, wine refrigerator and large pantry. The private master suite includes a jacuzzi tub in bathroom and views of the green belt from the private master bedroom balcony. Electric car charger in garage!

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
 

$674,910$824,890$749,900

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$2,767
Property Tax -$764
Property Insurance -$68
HOA -$299
Property Management Fees -$129
CASH FLOW
-$748

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.

$749,900

PROJECTED PRICE

$3,280

PROJECTED RENT

0.44%

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$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$8,029

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $3,278

    COMP ESTIMATED VALUE
  • $1.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,0503$3,1004$3,2005$3,280
$3,280
RENT COMPS ANALYSIS
  • 8531 Wayland Ct. Ct Gilroy, CA 5
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $1.92
    •  
  • Tennyson Dr Gilroy, CA 1
    • 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.89
    •  
  • 7955 Kipling Cir Gilroy, CA 2
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2005
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.03
    •  
  • 590 Eden St Gilroy, CA 3
    • 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.71
    •  
  • 7820 Ponderosa Dr Gilroy, CA 4
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
PROPERTY LISTING DETAILS
Angelo Gallo
Re/max Gold Cupertino
BESbswy