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6003 Ostenberg Dr 
San Jose, CA
95120
5 Beds 4 Baths 2,896 sqft
Built 1972
INVESTimate
$1,720,000
List Price
$461,550
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PROPERTY INFO
FACTS
- Built In 1972
- Price/Sqft : $593.92
- 3 Days on Market
- MLS # : ML81806826
- Updated Date : 08/24/2020 at 12:44
CONSTRUCTION
- Beds : 5
- Floor Size : 2,896 sqft
- Baths : 3 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Say goodbye to tight spaces and an outdated kitchen. Say hello to this expanded, remodeled Almaden Valley oasis, located blocks from top-rated schools, parks & shopping. Live comfortably in approximately 2900 sqft, enjoying the priceless neighborhood that comes with life in Oaktree Park community. Appreciate the elegance of the large permitted great room including custom fireplace, window seat with views of backyard, built-in home office area and expanded kitchen with spacious center island. Cook a feast on the grand 6 burner stovetop with double ovens. Plenty of room for multiple cooks in the gourmet kitchen with 2 sinks and 2 garbage disposals. A built-in wine refrigerator is convenient for entertaining or a relaxing evening at home. Unwind in the amazing backyard space with redwood pergola, beautiful pavers, lush lawn & fruit trees, imagine evenings here! Belongs to neighborhood cabana club. Appointments available, contact your agent. COVID Prevention plan https://bit.ly/CBRPlan
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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: Crossgate
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Crossgate
* 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 | $5,070 |
| EXPENSES | Loan Payment | -$6,346 |
| Property Tax | -$1,921 | |
| Property Insurance | -$97 | |
| HOA | -$640 | |
| Property Management Fees | -$198 | |
|
CASH FLOW
-$4,131
|
||
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.
$1,720,000
PROJECTED PRICE
$5,070
PROJECTED RENT
0.29%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 5.00% |
| Appreciation Year (1-5) | 9.53% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.40% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$461,550
LOAN DETAILS
$6,346
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $430,000 |
| Loan Amount | $1,290,000 |
-0.25
YEARS SAVED
-$246
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$5,070
LIST RENT -
$1.75
LIST RENT PER SQFT
-
$5,488
COMP ESTIMATED VALUE -
$1.9
COMP AVG. RENT PER SQFT
Comps Range
-
6003 Ostenberg Dr San Jose, 3
- 5 beds 4 baths ∙ 2,896 Sqft ∙ Built 1972 5 beds 4 baths ∙ 2,896 Sqft ∙ Built 1972
![property image]()
- Rent
- Rent Per SQFT
- $5,070
- $1.75
-
6068 Burnbank Pl San Jose, 1
- 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1976
![property image]()
LEASED 06/20/20- Rent
- Rent Per SQFT
- $4,975
- $1.90
-
6641 Barnsdale Ct San Jose, 2
- 5 beds 3 baths ∙ 2,649 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,649 Sqft ∙ Built 1978
![property image]()
LEASED 05/21/20- Rent
- Rent Per SQFT
- $4,995
- $1.89
PROPERTY LISTING DETAILS
Coldwell Banker Realty
