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PROPERTY INFO
FACTS
- Single Family
- Built In 2012
- Price/Sqft : $598.95
- 2 Days on Market
- MLS # : BE40929385
- Updated Date : 11/14/2020 at 21:00
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Central Milpitas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$368,270
LOAN DETAILS
$5,047
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $342,000 |
| Loan Amount | $1,026,000 |
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.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$4,694
COMP ESTIMATED VALUE -
$2.05
COMP AVG. RENT PER SQFT
Comps Range
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915 Smith Ln Milpitas, CA 1
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- Rent
- Rent Per SQFT
- $0
- $0.00
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759 Claridad Loop Milpitas, CA 2
- 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2006
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
LEASED 01/09/20- Rent
- Rent Per SQFT
- $4,495
- $2.23
PROPERTY LISTING DETAILS
Compass
