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910 Las Palmas Dr Santa Clara, CA 95051

3 Beds 2 Baths 1,567 sqft Built 1955

$1,448,000

List Price

$3,780

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $924.06
  • 3 Days on Market
  • MLS # : ML81826048
  • Updated Date : 01/15/2021 at 20:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,567 sqft
  • Baths : 2 full
Listing Agent

Cecille Waller, Broker

Listing Agent's Description

Talk about...Location! Location! Location! This Single-story home with an Open floor Plan is located in Santa Claras very desirable Homestead Estates neighborhood. This beautiful family home has 3 Bedrooms, 2 Full Bathrooms, a Den or Office, and a Separate Family Room. One room has its own entry, great for a guest room or for home sharing. Home is recently upgraded, new laminate wood floors, carpeting throughout, and painting. Bathrooms have been upgraded, as well as the Den w/ a new stylish Wood Barn Door! Centrally located, a short walk through the Central Park, one-minute walk to the award winning Central Library, George Haines International Swim Center, Tennis center, and all that Central Park has to offer. Close distance to St. Justin School, Central Park Elementary school, Santa Clara's first STEM school, and just 4 blocks to the award winning Millikin School. Centrally located with easy commute to San Tomas and Lawrence Expressways, near Highway 880, 280, 101! 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: Santa Clara West Central

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $369k1665k

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

Neighborhood: Santa Clara West Central

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2150020002500300035004000Rent in $10054493

* 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
Central Park Elementary School Primary Regular NA
Cabrillo Middle School Middle Regular 851 43 6
Santa Clara High School High Regular 1,911 82 7

Central Park Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Cabrillo Middle School

  • Education Level: Middle
  • # of students: 851
  • # of teachers: 43
6
GreatSchools Rating

Santa Clara High School

  • Education Level: High
  • # of students: 1,911
  • # of teachers: 82
7
GreatSchools Rating
 

$1,303,200$1,592,800$1,448,000

PURCHASE PRICE

$3,402$4,158$3,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,780
EXPENSES Loan Payment -$5,029
Property Tax -$1,399
Property Insurance -$65
Property Management Fees -$147
CASH FLOW
-$2,860

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.

$1,448,000

PROJECTED PRICE

$3,780

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$389,470

INVESTMENT

$389,470

Down Payment
$362,000
Rehab Estimate
$5,750
Closing Costs
$21,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$5,029

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $362,000
Loan Amount $1,086,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$44

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,780

    LIST RENT
  • $2.41

    LIST RENT PER SQFT
  • $4,176

    COMP ESTIMATED VALUE
  • $2.67

    COMP AVG. RENT PER SQFT
Comps Range
$3,780
1$3,7802$3,7903$4,3004$4,5005$4,500
$4,500
RENT COMPS ANALYSIS
  • 910 Las Palmas Dr Santa Clara, CA 1
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,780
    • $2.41
    •  
  • 962 Sunlite Dr Santa Clara, CA 2
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1949
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,790
    • $2.59
    •  
  • 2466 Austin Pl Santa Clara, CA 3
    • 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 1956
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.79
    •  
  • 2909 Toyon Dr Santa Clara, CA 4
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1963
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.72
    •  
  • 536 Barto St Santa Clara, CA 5
    • 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 1963
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.56
    •  
PROPERTY LISTING DETAILS
Cecille Waller
Cecille Waller, Broker
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