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PROPERTY INFO
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.
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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: Ortega Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ortega Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$508,985
LOAN DETAILS
$7,006
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $474,750 |
| Loan Amount | $1,424,250 |
-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
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- $4,500
- $2.88
PROPERTY LISTING DETAILS
Intero Real Estate Services
