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INVESTimate
$1,499,999
List Price
$403,250
REQUEST INFO
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PROPERTY INFO
FACTS
- Built In 1962
- Price/Sqft : $608.77
- 2 Days on Market
- MLS # : ML81806897
- Updated Date : 08/25/2020 at 17:52
CONSTRUCTION
- Beds : 4
- Floor Size : 2,464 sqft
- Baths : 2 full
Listing Agent
Re/max Santa Clara Valley
Listing Agent's Description
Make your Eichler dreams come true today!!! Remarkable opportunity to own this expansive 2,464 +\- sq ft atrium model Eichler home. Located on a spacious 7,800 +/- lot., this home features floor-to-ceiling windows in the dining room and living room, a wood-burning brick fireplace, sliders for easy access to the backyard and atrium, radiant floor heating, an add-on consisting of a large family room with a wet bar, an additional bathroom, and two additional rooms upstairs. Choose to relax on your upstairs balcony, read a book under the trees on your lawn, or entertain guests with your majestic backyard and covered concrete patio. Situated in the Fairglen Eichler neighborhood, you are centrally located next to shopping, freeways, entertainment, and just minutes from downtown Willow Glen, downtown Campbell, and The Pruneyard. This opportunity does not come often.
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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: Doerr - Steindorf
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Doerr - Steindorf
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $5,150 |
EXPENSES | Loan Payment | -$5,534 |
Property Tax | -$1,675 | |
Property Insurance | -$87 | |
Property Management Fees | -$201 | |
CASH FLOW
-$2,347
|
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.
$1,499,999
PROJECTED PRICE
$5,150
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 5.00% |
Appreciation Year (1-5) | 12.27% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 5.19% |
Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$403,250
LOAN DETAILS
$5,534
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $375,000 |
Loan Amount | $1,124,999 |
0.17
YEARS SAVED
$445
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
-
$5,926
COMP ESTIMATED VALUE -
$2.41
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Re/max Santa Clara Valley