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906 Chevy St Belmont, CA 94002

2 Beds 1 Baths 970 sqft Built 1951

$1,295,000

List Price

$3,680

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $1,335.05
  • 5 Days on Market
  • MLS # : ML81823360
  • Updated Date : 12/18/2020 at 06:28
CONSTRUCTION
  • Beds : 2
  • Floor Size : 970 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

This adorable and charming 2 bedroom 1 Bathroom home with front porch entry sits on large park like lot ! Perfect for first time home buyer or those who want a house and yard at Condo pricing or those with vision of expanding! Freshly painted interior, refinished hardwood floors and a refreshed Bathroom. Open concept living room with gas log/starter fireplace and dining room with sliding doors to huge yard studded with majestic Redwood trees and a large deck for entertaining! Eat in Kitchen. Close to schools, shopping and freeways yet tucked away in a quiet neighborhood setting. https://drive.google.com/file/d/1Aegx9x74cmc0yCyvc58yMqCilgPpTkaZ/view

SEE MORE

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: Belburn Village

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000k2200k2400k2600k2800k3000k3200kPrice in $450k3361k

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

Neighborhood: Belburn Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q220002500300035004000450050005500600065007000750080008500Rent in $16798661

* 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
Ralston Middle School Middle Regular 1,130 49 9
Carlmont High School High Regular 2,183 107 9

Ralston Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 49
9
GreatSchools Rating

Carlmont High School

  • Education Level: High
  • # of students: 2,183
  • # of teachers: 107
9
GreatSchools Rating
 

$1,165,500$1,424,500$1,295,000

PURCHASE PRICE

$3,312$4,048$3,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,680
EXPENSES Loan Payment -$4,778
Property Tax -$1,067
Property Insurance -$51
Property Management Fees -$144
CASH FLOW
-$2,359

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,295,000

PROJECTED PRICE

$3,680

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.17%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$348,925

INVESTMENT

$348,925

Down Payment
$323,750
Rehab Estimate
$5,750
Closing Costs
$19,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,778

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $323,750
Loan Amount $971,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$14

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,680

    LIST RENT
  • $3.79

    LIST RENT PER SQFT
  • $3,458

    COMP ESTIMATED VALUE
  • $3.57

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,6803$3,995
$3,995
RENT COMPS ANALYSIS
  • 906 Chevy St Belmont, CA 2
    • 2 beds 1 baths ∙ 970 Sqft ∙ Built 1951 2 beds 1 baths ∙ 970 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,680
    • $3.79
    •  
  • 906 Academy Belmont, CA 1
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1964 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1964
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $3.50
    •  
  • 1730 Robin Whipple Belmont, CA 3
    • 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $3.63
    •  
PROPERTY LISTING DETAILS
Cheryl Price
Compass
BESbswy