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864 Paseo Estero Dr San Jose, CA 95122

3 Beds 3 Baths 1,118 sqft Built 1987

INVESTimate

$700,000

List Price

$2,780

$2,530 - $3,030

Rent Est.

$784,700  ( +12.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $626.12
  • 6 Days on Market
  • MLS # : ML81807204
  • Updated Date : 08/25/2020 at 07:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,118 sqft
  • Baths : 2 full , 1 half
Listing Agent

Silvertree Properties

Listing Agent's Description

Welcome home! This detached home was built in 1987. The home is spacious with an open floorplan and vaulted ceilings which create an abundance of natural light throughout. Pergo flooring throughout the home except kitchen and bathrooms have tile flooring. This home has 3 bedrooms and 2.5 bathrooms, a total of 1118 sq. ft.. The washer/dryer hookups are located in the one car garage. The master bedroom has plenty of space for a sitting area. All bathrooms have been upgraded with granite counter tops. Kitchen has tile counter tops and a breakfast nook. Low maintenance yard with no rear neighbors. The HOA covers front landscaping and common areas.The home is centrally located in a quiet community. A must see!

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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: Summerside

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $239k1220k

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

Neighborhood: Summerside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16253804

* 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
Robert F. Kennedy Elementary School Primary Regular 532 21 4
Robert F. Kennedy Elementary School Middle Regular 532 21 4
Yerba Buena High School High Magnet 1,782 74 6

Robert F. Kennedy Elementary School

  • Education Level: Primary
  • # of students: 532
  • # of teachers: 21
4
GreatSchools Rating

Robert F. Kennedy Elementary School

  • Education Level: Middle
  • # of students: 532
  • # of teachers: 21
4
GreatSchools Rating

Yerba Buena High School

  • Education Level: High
  • # of students: 1,782
  • # of teachers: 74
6
GreatSchools Rating
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$2,583
Property Tax -$846
Property Insurance -$54
HOA -$200
Property Management Fees -$129
CASH FLOW
-$1,032

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$700,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 12.10%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$573

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
  • $2,761

    COMP ESTIMATED VALUE
  • $2.47

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,850
$2,850
RENT COMPS ANALYSIS
  • 864 Paseo Estero Dr San Jose, 1
    • 3 beds 3 baths ∙ 1,118 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,118 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3289 Lantern Way San Jose, 2
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1977
    property image
    LEASED 03/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.47
    •  
PROPERTY LISTING DETAILS
Rosie Park
Silvertree Properties
BESbswy