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974 Kingfisher Dr San Jose, CA 95125

3 Beds 2 Baths 1,388 sqft Built 1956

INVESTimate

$1,075,000

List Price

$3,820

$3,570 - $4,070

Rent Est.

$1,200,668  ( +11.69%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $774.50
  • 7 Days on Market
  • MLS # : ML81807004
  • Updated Date : 08/26/2020 at 00:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,388 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker The Professional Group

Listing Agent's Description

Come see this amazing TURN-KEY home with pride of ownership. This home has all the bells & whistles and a truely beautiful home to enjoy, feels warm & inviting & located in a great family neighborhood. A bright home with a flowing floor plan, large living room, double paned windows, hardwood floors, composition roof, owned-solar, copper plumbing, furnace & A/C unit, spacious bedrooms, beautiful remodeled bathrooms, finished garage with electric car charger, upgraded roll up garage door are just a few to mentioned & inside laundry, oversize backyard 7,059 lot to entertain, re-trackable awning, extra long drive way, mins to the coming- new Goggle SJ campus, Cal-Train, Costco, Shopping, Restaurants, Freeways 85/87. Your buyers will not be disappointed.

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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: Canoas Garden

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Canoas Garden

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21400160018002000220024002600280030003200340036003800400042004400Rent in $13764493

* 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
Canoas Elementary School Primary Regular 373 16 5
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Canoas Elementary School

  • Education Level: Primary
  • # of students: 373
  • # of teachers: 16
5
GreatSchools Rating

Willow Glen Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 57
6
GreatSchools Rating

Willow Glen High School

  • Education Level: High
  • # of students: 1,660
  • # of teachers: 75
7
GreatSchools Rating
 

$967,500$1,182,500$1,075,000

PURCHASE PRICE

$3,438$4,202$3,820

RENT

DOWN PAYMENT
FINANCING

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$10k

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 $3,820
EXPENSES Loan Payment -$3,966
Property Tax -$1,200
Property Insurance -$61
Property Management Fees -$149
CASH FLOW
-$1,556

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.

$1,075,000

PROJECTED PRICE

$3,820

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.69%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$290,625

INVESTMENT

$290,625

Down Payment
$268,750
Rehab Estimate
$5,750
Closing Costs
$16,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,966

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $268,750
Loan Amount $806,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,820

    LIST RENT
  • $2.75

    LIST RENT PER SQFT
  • $4,141

    COMP ESTIMATED VALUE
  • $2.98

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,8203$4,9954$5,495
$5,495
RENT COMPS ANALYSIS
  • 974 Kingfisher Dr San Jose, 2
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $3,820
    • $2.75
    •  
  • 3119 Lowry Dr San Jose, 1
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1960
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.64
    •  
  • 2432 Fairoak Ct San Jose, 3
    • 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1960
    LEASED 06/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $3.09
    •  
  • 1034 Laurie Ave San Jose, 4
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1941
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,495
    • $3.22
    •  
PROPERTY LISTING DETAILS
Kathy Low
Coldwell Banker The Professional Group
BESbswy