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881 Woodcreek Way Gilroy, CA 95020

4 Beds 3 Baths 1,504 sqft Built 1998

$739,995

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $492.02
  • 4 Days on Market
  • MLS # : ML81822138
  • Updated Date : 12/04/2020 at 21:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,504 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Sf

Listing Agent's Description

Lovely four bedroom in desirable West Gilroy. Smart floorplan with soaring high ceilings, great school district, walking distance to neighborhood parks, and pleasing updates throughout, this home checks all the boxes! Remodeled kitchen and bathrooms. Spacious backyard with no neighbors to the rear provides endless opportunities for outdoor activities. Great location close to shops, restaurants, and amenities.

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: 95020

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $346k1220k

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16443804

* 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
Antonio Del Buono Elementary School Primary Regular 620 24 4
Ascencion Solorsano Middle School Middle Regular 853 28 6
Christopher High School High Regular 1,889 80 7

Antonio Del Buono Elementary School

  • Education Level: Primary
  • # of students: 620
  • # of teachers: 24
4
GreatSchools Rating

Ascencion Solorsano Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 28
6
GreatSchools Rating

Christopher High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 80
7
GreatSchools Rating
 

$665,996$813,995$739,995

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,730
Property Tax -$754
Property Insurance -$63
HOA -$97
Property Management Fees -$129
CASH FLOW
-$764

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.

$739,995

PROJECTED PRICE

$3,010

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,849

INVESTMENT

$201,849

Down Payment
$184,999
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,999
Loan Amount $554,996
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$7,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $2,985

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,0003$3,0104$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 881 Woodcreek Way Gilroy, CA 3
    • 4 beds 3 baths ∙ 1,504 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,504 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $2.00
    •  
  • 220 Chappell Ct Gilroy, CA 1
    • 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.10
    •  
  • 8880 Carnation Ln Gilroy, CA 2
    • 4 beds 3 baths ∙ 1,428 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,428 Sqft ∙ Built 1997
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.10
    •  
  • 590 Eden St Gilroy, CA 4
    • 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.71
    •  
  • 7820 Ponderosa Dr Gilroy, CA 5
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
PROPERTY LISTING DETAILS
Alexander Han
Compass Sf
BESbswy