tomo logo

$1,080,000

Beds
6
Baths
3.5
sq ft
1,060

7221 Forest St, Gilroy, CA 95020

7221 Forest St

GILROY, CA 95020

  • 14 days on market
One of a lifetime opportunity to buy one property and get TWO HOMES! The main house has 3 bedroom and 2 bathrooms, with a private backyard and driveway. The rear unit has 3 bedrooms and 1 bathrooms, with separate own entrance, private backyard, and driveway; built with permits perfect as a rental unit or multi-generational living. Rear unit has brand new laminate flooring and new paint ready to rent out. Both units are on separate meters. This is a perfect opportunity to own a property where you can generate rental income from the rear unit and still live privately in the main unit. Convenient location close to schools, shopping centers, and freeway access.

Details

Property type

Single Family Residence

Est. home value

$694,857

Lot size

9,148 sq ft

Price per sq ft

$1,019

Year built

1890

Price History

06/17/2024
MLSL

MLSL #ML81969970

Listed
$1,080,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

High school district: 

Gilroy Unified

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

$503,127
Asking price
$1,080,000
Closing costs (~8% of asking)
-$86,400
Est. remaining loan balance
-$490,473
Cash to seller
$503,127

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

Seller’s Loan History

Lender

Quicken Loans Inc

Loan start date

August 2019

Original loan amount

$542,500

Est. remaining balance

$490,473

Interest rate

3.73%

Loan type

New Conventional, 30 year

Seller

Roy A Moreno and Mary I Moreno

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?

Status: Active

Tomo last checked: 07/01/2024 at 8:30 PM

Listing updated: 06/24/2024 at 1:46 PM

Listed by: Tino Le, Pacificwide Real Estate & Mortgage Phone #: (408) 532-1278

MLS: MLSL #ML81969970

MLSL logo

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