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875 Oak Park Dr Morgan Hill, CA 95037

4 Beds 3 Baths 1,887 sqft Built 1987

$939,888

List Price

$3,510

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $498.09
  • 5 Days on Market
  • MLS # : ML81818196
  • Updated Date : 10/31/2020 at 18:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,887 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Come and relax in this beautiful 4 bedroom 2.5 bathroom home with 1887 sq. ft. of living space. This home boast many great amenities including a remodeled kitchen and bathrooms, fireplace in the living room, beautiful dinning room, owned solar system, along with a gorgeous backyard with a "she shed" or "play house." The backyard has a beautiful view of El Toro! HOA includes a swimming pool! Don't miss the chance to living in one of Morgan Hill's desirable neighborhoods.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
P. A. Walsh Steam Academy Primary Regular 601 24 2
Lewis H. Britton Middle School Middle Regular 624 25 4
Ann Sobrato High School High Regular 1,451 62 8

P. A. Walsh Steam Academy

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 24
2
GreatSchools Rating

Lewis H. Britton Middle School

  • Education Level: Middle
  • # of students: 624
  • # of teachers: 25
4
GreatSchools Rating

Ann Sobrato High School

  • Education Level: High
  • # of students: 1,451
  • # of teachers: 62
8
GreatSchools Rating
 

$845,899$1,033,877$939,888

PURCHASE PRICE

$3,159$3,861$3,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,510
EXPENSES Loan Payment -$3,468
Property Tax -$949
Property Insurance -$73
HOA -$164
Property Management Fees -$137
CASH FLOW
-$1,281

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.

$939,888

PROJECTED PRICE

$3,510

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.6%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$254,820

INVESTMENT

$254,820

Down Payment
$234,972
Rehab Estimate
$5,750
Closing Costs
$14,098

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,468

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $234,972
Loan Amount $704,916
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,457

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,510

    LIST RENT
  • $1.86

    LIST RENT PER SQFT
  • $3,746

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$3,510
1$3,5102$4,0003$4,100
$4,100
RENT COMPS ANALYSIS
  • 875 Oak Park Dr Morgan Hill, CA 1
    • 4 beds 3 baths ∙ 1,887 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,887 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $3,510
    • $1.86
    •  
  • 17825 Calle Hermosa Morgan Hill, CA 2
    • 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 2005
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.97
    •  
  • 105 Mathilda Ct Morgan Hill, CA 3
    • 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 1979
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.00
    •  
PROPERTY LISTING DETAILS
Gary Palacios
Compass
BESbswy