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915 Smith Ln Milpitas, CA 95035

4 Beds 4 Baths 2,284 sqft Built 2012

$1,368,000

List Price

$4,490

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $598.95
  • 2 Days on Market
  • MLS # : ML81820239
  • Updated Date : 11/14/2020 at 10:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,284 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Welcome home to this open & elegant north facing detached home built by Robson homes in 2012. Corner lot! Includes newly completed hardwood floor, carpet and 2 tone paint, its ready for you to move right in! The 1st floor has a suite with private bath and open to the side patio that is ideal for guests or in-laws. The 2nd floor features a gourmet kitchen w/SS appliances, granite countertops and a center-island overlooks the family and great room. There is a bonus office nook off the great room w/views to the park. The laundry room is located on the 3rd floor w/ abundant storage cabinets. The master suite has a walk-in closet and a luxurious bath w/ double sinks, shower, soaking tub, marble countertop, marble tile floor and views to the hills! Shutters, multi-zone HVAC, tankless hot water, epoxy floor in garage and so much more! The community park is just a few steps from your front door! Walk to shops and restaurants. A short drive to BART and easy access to 237/680/880. A must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Central Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $376k1665k

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

Neighborhood: Central Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17314493

* 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
Robert Randall Elementary School Primary Regular 434 18 3
Rancho Milpitas Middle School Middle Regular 714 30 8
Milpitas High School High Regular 3,105 117 9

Robert Randall Elementary School

  • Education Level: Primary
  • # of students: 434
  • # of teachers: 18
3
GreatSchools Rating

Rancho Milpitas Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 30
8
GreatSchools Rating

Milpitas High School

  • Education Level: High
  • # of students: 3,105
  • # of teachers: 117
9
GreatSchools Rating
 

$1,231,200$1,504,800$1,368,000

PURCHASE PRICE

$4,041$4,939$4,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,490
EXPENSES Loan Payment -$5,047
Property Tax -$1,384
Property Insurance -$82
HOA -$145
Property Management Fees -$175
CASH FLOW
-$2,344

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.

$1,368,000

PROJECTED PRICE

$4,490

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$368,270

INVESTMENT

$368,270

Down Payment
$342,000
Rehab Estimate
$5,750
Closing Costs
$20,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$5,047

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $342,000
Loan Amount $1,026,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$91

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
  • $4,694

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8503$4,495
$4,495
RENT COMPS ANALYSIS
  • 915 Smith Ln Milpitas, CA 1
    • 4 beds 4 baths ∙ 2,284 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,284 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 759 Claridad Loop Milpitas, CA 2
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2006
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.88
    •  
  • 262 Wild Rose Way Milpitas, CA 3
    • 4 beds 4 baths ∙ 2,018 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,018 Sqft ∙ Built 2018
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $2.23
    •  
PROPERTY LISTING DETAILS
Lily Mcclanahan
Compass
BESbswy