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

861 Inverness Way Sunnyvale, CA 94087

4 Beds 2 Baths 1,578 sqft Built 1959

$1,899,000

List Price

$4,260

$4K - $4.5K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $1,203.42
  • 6 Days on Market
  • MLS # : ML81823298
  • Updated Date : 12/19/2020 at 10:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,578 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Gorgeous remodel! Move in and enjoy this beautiful 4 bedroom 2 bathroom home in highly sought after Ortega Park neighborhood. Designer touches throughout. Stunning new chef's kitchen with large center island, custom cabinetry, quartz countertops, tiled backsplash, gas range, living room has a wood-burning fireplace, and separate family room opens to backyard with large patio area and expansive lawn. Primary suite has dual closets and new bathroom; hall bathroom is also freshly remodeled. Thoughtfully designed flexible floorplan offers plenty of space for working, schooling or relaxing at home. Home also features hardwood flooring, dual pane windows, tank-less water heater, new furnace, 2 car garage, new interior doors, recessed lighting, decorator trim, molding and light fixtures, recently painted inside and out. Conveniently located near highly desired Cupertino Schools, shopping, restaurants, Ortega Park, major tech companies (Apple complex) and easy access to commute routes.

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: Ortega Park

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000kPrice in $411k2056k

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

Neighborhood: Ortega Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074568

* 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
Stocklmeir Elementary School Primary Regular 1,211 50 9
Cupertino Middle School Middle Regular 1,434 63 8
Fremont High School High Regular 1,965 87 7

Stocklmeir Elementary School

  • Education Level: Primary
  • # of students: 1,211
  • # of teachers: 50
9
GreatSchools Rating

Cupertino Middle School

  • Education Level: Middle
  • # of students: 1,434
  • # of teachers: 63
8
GreatSchools Rating

Fremont High School

  • Education Level: High
  • # of students: 1,965
  • # of teachers: 87
7
GreatSchools Rating
 

$1,709,100$2,088,900$1,899,000

PURCHASE PRICE

$3,834$4,686$4,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,260
EXPENSES Loan Payment -$7,006
Property Tax -$1,926
Property Insurance -$65
Property Management Fees -$166
CASH FLOW
-$4,904

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.

$1,899,000

PROJECTED PRICE

$4,260

PROJECTED RENT

0.22%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.5%
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$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$80k-$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$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$508,985

INVESTMENT

$508,985

Down Payment
$474,750
Rehab Estimate
$5,750
Closing Costs
$28,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,006

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $474,750
Loan Amount $1,424,250
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,260

    LIST RENT
  • $2.7

    LIST RENT PER SQFT
  • $4,501

    COMP ESTIMATED VALUE
  • $2.85

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,2603$4,3504$4,4505$4,500
$4,500
RENT COMPS ANALYSIS
  • 861 Inverness Way Sunnyvale, CA 2
    • 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $4,260
    • $2.70
    •  
  • 19866 Beekman Pl Cupertino, CA 1
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1972
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.80
    •  
  • 1479 Chukar Ct Sunnyvale, CA 3
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1971
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $2.82
    •  
  • 1546 Murre Ln Sunnyvale, CA 4
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1961
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $2.91
    •  
  • 1342 Bobolink Cir Sunnyvale, CA 5
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1959
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.88
    •  
PROPERTY LISTING DETAILS
Meryle Sussman
Intero Real Estate Services
BESbswy