1248 S 2nd Street, San Jose, California 95112, San Jose, 95112 - 5 bed, 3 bath
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1248 S 2nd Street
San Jose, California 95112
ACTIVE
CONDITION: EXCELLENT
5Beds
3Baths
1,648Sq Ft
5,452Lot Size
Property Price
LIST PRICE$1,045,000
EST. MARKET VALUE
$1,121,963
6% BelowMARKET VALUE
SUMMARY
This dual-residence property represents a Strong Value Opportunity, listed at $1,045,000—positioned well below the $1,121,963 Fair Market Value by 6%. This valuation gap offers $76,963 in Instant Equity. Featuring a Turnkey Condition Rating with modern updates and C2 Mixed-Use Zoning, the asset provides exceptional rental yield potential through its 5bd/3ba configuration. This is an ideal acquisition for Buy-and-Hold Investors seeking cash flow or Owner-Occupants looking to leverage multi-generational living or home-based business flexibility near Downtown San Jose.
Estimated Market Value
$1,121,963+$76,963 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in San Jose.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1248 S 2nd Street Subject 5 bd · 3 ba · 1,648 sqft · $681 | $1,045,000* List Price | 5 | 3 | 1,648 | $681 | - |
A 1133 S 9th Street Sold 5 bd · 4 ba · 2,170 sqft · $599 · 0.4 mi | $1,300,000 | 5 | 4 | 2,170 | $599 | 0.4 mi |
B 166 E Humboldt Street Sold 3 bd · 2 ba · 1,200 sqft · $792 · 0.1 mi | $950,000 | 3 | 2 | 1,200 | $792 | 0.1 mi |
C 526 S. 5th Street Sold 4 bd · 2 ba · 1,680 sqft · $679 · 0.8 mi | $1,140,000 | 4 | 2 | 1,680 | $679 | 0.8 mi |
D 163 Carrie Street Sold 6 bd · 2 ba · 1,820 sqft · $591 · 0.7 mi | $1,075,000 | 6 | 2 | 1,820 | $591 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although originally built in 1920, the property has undergone a comprehensive recent renovation (likely <5 years) featuring a sleek aesthetic with fully refreshed kitchens, new counters, updated bathrooms, and new flooring throughout, qualifying it as a turnkey, mint-condition residence.
PROSSTRENGTHS & OPPORTUNITIES
- High Income Potential
The dual-residence configuration (2bd/1ba and 3bd/2ba) offers exceptional rental yield potential, previously generating $6,600 monthly, plus additional ADU potential in the detached garage.
- Versatile Mixed-Use Zoning
Rare C2 zoning provides unique flexibility for professional home businesses, such as legal practices or boutique salons, catering to a wider range of buyer needs beyond standard residential use.
- Turnkey Modern Updates
The property features extensive recent renovations, including refreshed kitchens with new counters, updated bathrooms, and sleek new flooring, minimizing immediate capital expenditure for the buyer.
CONSRISKS & DEFICIENCIES
- Unpermitted Square Footage
The garage contains living spaces not included in the official square footage, which may present challenges for financing, appraisals, or future permit verification.
- Aging Infrastructure
Despite modern cosmetic updates, the 1920 construction year suggests potential underlying maintenance requirements typical of century-old homes that may not be immediately visible.
About 1248 S 2nd Street
SIGNIFICANT PRICE IMPROVEMENT! Turnkey opportunity near Downtown San Jose, ideal for buyers, multi-gen living, or savvy investors! Beautifully updated with a sleek aesthetic and versatile layout, this property features a 2bd/1ba front home (past rent $2,800) paired with a 3bd/2ba rear residence (past rent $3,800). Maximize cash flow by leasing all 5 bedrooms to SJSU students, or tap into the detached garage's ADU potential for extra income (buyer to verify permits potential rental 1200). Prime C2 mixed-use zoning offers rare flexibility for client-facing home businesses like legal practices or boutique salons. Fresh updates include interior paint, fully refreshed kitchens with new counters and hardware, updated baths, and sleek new flooring. garage has 2 bedrooms and a living space not in the listed sqf. Set on a sunny, eco friendly corner lot with a brand-new rear fence and sturdy pavers, you're steps from transit and minutes from Downtown SJ's best dining, SAP Center, and major freeways. A high-yield investment with endless potential!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1920
- Lot Size
- 5,452 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 4.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,648 | 1,721.238 |
| Lot Size | 5,452 | 6,271.145 |
| Price | $1.04M | $1.67M |
| Price per sq ft | $634 | $972 |
| Built year | 1920 | 1965 |
| HOA | $0 | $190 |
| Days on market | 44 | 38 |
Pricing History
Listed for Sale
Oct 9, 2026
$1,045,000
$1,095,000
-5% Price Drop
Initial Listing
Price Change
Oct 2, 2026
$1,095,000
$1,195,000
-8% Price Drop
Initial Listing
Price Change
Sep 24, 2026
$1,195,000
$1,230,000
-3% Price Drop
Initial Listing
Price Change
Sep 18, 2026
$1,230,000
$1,275,000
-4% Price Drop
Initial Listing
Price Change
Sep 10, 2026
$1,275,000
Initial Listing
Sold
Jun 29, 2018
$907,000
Public Record
Sold
Mar 30, 2009
$260,000
Public Record
Sold
Oct 30, 2006
$577,000
Public Record
Sold
Mar 4, 1999
$235,000
Public Record