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864 Orkney Ave Santa Clara, CA 95054

3 Beds 2 Baths 1,207 sqft Built 1962

$1,099,950

List Price

$3,270

$3K - $3.5K

Rent Est.

$297,237

Investment Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $911.31
  • 3 Days on Market
  • MLS # : ML81820210
  • Updated Date : 11/14/2020 at 13:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,207 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Centrally Located Well Maintained 3 Bedroom/ 2 Bathroom Santa Clara Home Nestled in a Popular Neighborhood near Top Attractions. New Interior Paint. New Carpet. Remodeled Kitchen with Granite Countertops, Stainless Steel Appliances, Recessed Lighting and Tile Floors. Living Room, Diining Area and Family Room with Fireplace. Remodeled Bathrooms. Copper Plumbing. Double Pane Windows. Central Forced Air Heating & A/C. Fruit Trees in the Backyard. Easy Access to Local Shopping & Dining, the Rivermark Shopping Center, The Great Mall, Levi's Stadium, San Jose Airport, Great America, Expressways, and Freeways 101, 880 & 237. Low Santa Clara Utilities.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North 101

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $396k1665k

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

Neighborhood: North 101

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2150020002500300035004000Rent in $10054493

* 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
Montague Elementary School Primary Regular 383 17 5
Buchser Middle School Middle Regular 1,007 46 5
Santa Clara High School High Regular 1,911 82 7

Montague Elementary School

  • Education Level: Primary
  • # of students: 383
  • # of teachers: 17
5
GreatSchools Rating

Buchser Middle School

  • Education Level: Middle
  • # of students: 1,007
  • # of teachers: 46
5
GreatSchools Rating

Santa Clara High School

  • Education Level: High
  • # of students: 1,911
  • # of teachers: 82
7
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$989,955$1,209,945$1,099,950

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$4,058
Property Tax -$1,057
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$2,031

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.

$1,099,950

PROJECTED PRICE

$3,270

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.6%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

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$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,237

INVESTMENT

$297,237

Down Payment		 $274,988
Rehab Estimate		 $5,750
Closing Costs		 $16,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,058

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $274,988
Loan Amount $824,963
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$44

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT

  • $2.71

    LIST RENT PER SQFT

  • $2,873

    COMP ESTIMATED VALUE

  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$3,270
1$3,2702$3,3003$3,500
$3,500
RENT COMPS ANALYSIS
  • 864 Orkney Ave Santa Clara, CA 1
    • 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $2.71
    •  
  • 2474 Poett Ln Santa Clara, CA 2
    • 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1972
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.44
    •  
  • 2512 Roblar Ln Santa Clara, CA 3
    • 4 beds 3 baths ∙ 1,506 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,506 Sqft ∙ Built 1972
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.32
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Al Moridi
Intero Real Estate Services

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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