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948 Tamarack Ave San Jose, CA 95128

3 Beds 2 Baths 1,225 sqft Built 1950

INVESTimate

$998,000

List Price

$3,310

$3,060 - $3,560

Rent Est.

$270,220

Investment Est.

$1,135,924  ( +13.82%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1950
  • Price/Sqft : $814.69
  • 2 Days on Market
  • MLS # : ML81807624
  • Updated Date : 08/25/2020 at 11:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,225 sqft
  • Baths : 2 full
Listing Agent

Dpl Real Estate

Listing Agent's Description

Move in and enjoy this beautiful 3 bedroom single-story home on large lot in a spectacular commute location. Huge chef's kitchen with lots of counter space, expansive windows and a large casual dining area. Gleaming hardwood floors. Bright and beautiful living and formal dining spaces. Elegant baseboards. Double-pane windows and central A/C. Spacious bedrooms. Beautiful hall bathroom. Wonderful Master suite with updated master bathroom with quartz countertops and double vanity. Attached two car garage. Deep and private backyard with patio, lawn and shed. Walking distance to Westfield Valley Fair and Santana Row. Amazing commuter access to San Tomas Expressway, Stevens Creek Boulevard, El Camino Real, Highway 880, Highway 280 and Interstate 101. Wow.

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: Cory

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $363k1220k

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

Neighborhood: Cory

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2160018002000220024002600280030003200340036003800Rent in $15853804

* 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
Trace Elementary School Primary Regular 979 35 4
Hoover Middle School Middle Magnet 1,074 49 3
Abraham Lincoln High School High Regular 1,851 79 7

Trace Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 35
4
GreatSchools Rating

Hoover Middle School

  • Education Level: Middle
  • # of students: 1,074
  • # of teachers: 49
3
GreatSchools Rating

Abraham Lincoln High School

  • Education Level: High
  • # of students: 1,851
  • # of teachers: 79
7
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$898,200$1,097,800$998,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING
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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation

  • Principal

  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$3,682
Property Tax -$1,114
Property Insurance -$57
Property Management Fees -$129
CASH FLOW
-$1,672

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.

$998,000

PROJECTED PRICE

$3,310

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.82%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment		 $249,500
Rehab Estimate		 $5,750
Closing Costs		 $14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$84

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

  • $3,549

    COMP ESTIMATED VALUE

  • $2.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,7504$3,8005$3,985
$3,985
RENT COMPS ANALYSIS
  • 948 Tamarack Ave San Jose, 1
    • 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2524 Fernwood Ave San Jose, 2
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1952
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.70
    •  
  • 1347 Lexington St Santa Clara, 3
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1940
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $3.00
    •  
  • 623 Pineview Dr San Jose, 4
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1953
    property image
    LEASED 03/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.04
    •  
  • 3314 Lindenoaks Dr San Jose, 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956
    property image
    LEASED 05/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,985
    • $2.85
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
David Lillo
Dpl Real Estate

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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