tomo logo

$1,249,000

Beds
8
Baths
5.0
sq ft
1,172

551 McLaughlin Ave, San Jose, CA 95116

551 McLaughlin Ave

San Jose, CA 95116

  • 15 days on market
    • Open house Jun 29
Welcome to this charming property that offers more than just a place to call home. There are multiple units on this property, of which one unit that is a 2 bedroom 1 bath will be delivered vacant. The property is complemented by additional rental units producing around $8100 in income! This presents a unique opportunity to offset your living expenses or just make it into a pure rental, the choices are endless. This property is ideally located, ensuring everything you need is just a stone's throw away. With the added convenience of ample parking and privacy for each unit, managing your new investment is hassle-free. Whether you're stepping into the world of property investment or seeking a smart way to make your home work for you, is an excellent choice. It's not just a home; it's a smart financial move towards a brighter future.

Details

Property type

Single Family Residence

Est. home value

$1,189,870

Lot size

9,583 sq ft

Price per sq ft

$1,066

Year built

1941

Price History

06/13/2024
BridgeMLS

BridgeMLS #ML81959015

Removed
$1,288,880
+3.19%
06/13/2024
BridgeMLS

BridgeMLS #ML81969550

Listed
$1,249,000
-3.09%
03/26/2024
BridgeMLS

BridgeMLS #ML81959015

Listed
$1,288,880
+9.69%

Schools & Community

Neighborhood: 

Downtown

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

High school district: 

East Side Union High

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$134,787
Asking price
$1,249,000
Closing costs (~8% of asking)
-$99,920
Est. remaining loan balance
-$1,014,293
Cash to seller
$134,787

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

United Wholesale Mortgage

Loan start date

April 2022

Original loan amount

$1,056,325

Est. remaining balance

$1,014,293

Interest rate

3.89%

Loan type

New Conventional, 30 year

Seller

Loi Thanh Lam and Tuyet Bich Phan

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 06/29/2024 at 7:00 AM

Listing updated: 06/27/2024 at 10:53 PM

Listed by: Johnny Hoang, Keller Williams East County Phone #: (408) 705-8121

MLS: BridgeMLS #ML81969550

BridgeMLS logo

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