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909 Feller Ave San Jose, CA 95127

3 Beds 2 Baths 1,673 sqft Built 1969

INVESTimate

$898,800

List Price

$3,510

$3,260 - $3,760

Rent Est.

$243,932

Investment Est.

$1,000,994  ( +11.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $537.24
  • 2 Days on Market
  • MLS # : ML81805346
  • Updated Date : 08/25/2020 at 13:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-silicon Valley

Listing Agent's Description

Remodeled single story 3-bedroom, 2-bathroom home nestled in a tranquil neighborhood at the base of the foothills. Great floor plan which includes a living room with picture windows that have a view of the foothills and a cozy family room with a fireplace. Floor plan also boasts a large bonus room with high ceilings and plenty of natural light that would be an excellent home office or play room for the kids. Kitchen has been updated with new appliances and custom-built pantry. The backyard is an entertainers dream complete with a waterfall, new pavers, new landscaping and custom built arbor perfect for entertaining friends and family. Close to San Jose Country Club, Alum Rock Park, Sierra Vista Open Space Preserve, 680/280 and major shopping. Excellent opportunity for first-time home buyers, buyers looking to downsize or investors looking for strong rental income.

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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: Candlestick

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: Candlestick

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17833804

* 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
Mt. Pleasant High School High Regular 1,452 67 6

Mt. Pleasant High School

  • Education Level: High
  • # of students: 1,452
  • # of teachers: 67
6
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$808,920$988,680$898,800

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

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-$20k-$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$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,510
EXPENSES Loan Payment -$3,316
Property Tax -$1,089
Property Insurance -$68
Property Management Fees -$137
CASH FLOW
-$1,099

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.

$898,800

PROJECTED PRICE

$3,510

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 11.37%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,932

INVESTMENT

$243,932

Down Payment		 $224,700
Rehab Estimate		 $5,750
Closing Costs		 $13,482

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,316

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,700
Loan Amount $674,100
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$4,245

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

  • $3,890

    COMP ESTIMATED VALUE

  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3953$3,800
$3,800
RENT COMPS ANALYSIS
  • 909 Feller Ave San Jose, 1
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3344 Flintmont Dr San Jose, 2
    • 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1981
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.79
    •  
  • 1470 Mount Shasta Dr San Jose, 3
    • 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.86
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Catherine Clock
Keller Williams Realty-silicon Valley

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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