456 E San Salvador Street, San Jose, California 95112, San Jose, 95112 - 3 bed, 2 bath
ACTIVE$1,225,000
456 E San Salvador Street, San Jose, California 95112
3Beds
2Baths
1,444Sqft
2,070Lot
Price Vs. Estimate
The estimated value ($1,098,867.855) is $126,132.145 (10%) lower than the list price ($1,225,000). This property may be overpriced.
Key pros and cons
Top Pros:
Exceptional Rental Income & Occupancy: The property boasts a proven track record of 'no vacancy' for the past 13 years, generating a strong $5600 monthly income, indicating high demand and a reliable income stream.
Top Cons:
Landlord-Covered Utilities: Utilities are included in the rent at approximately $500 per month, which reduces the net operating income and exposes the landlord to fluctuating utility costs.
Compared to the nearby listings
Price:$1.23M vs avg $1.20M (+$25,000)53%
Size:1,444 sqft vs avg 1,430.5 sqft53%
Price/sqft:$848 vs avg $85550%
More Insights
Built in 1923 (102 years old).
Condition: The property was built in 2010, making it 15 years old, which falls within the 'Good' condition age range. Despite being a student rental for 13 years, the images show a well-maintained interior. The kitchen features modern dark shaker cabinets, light countertops, subway tile backsplash, and stainless steel appliances, all appearing in good condition. Bathrooms also exhibit modern vanities and tiled showers. Flooring is a mix of durable tile/laminate and carpet. Overall, the property is move-in ready with no immediate renovations required, consistent with a 'Good' rating.
Year Built
1923
Close
-
List price
$1.23M
Original List price
$1.23M
Price/Sqft
$848
HOA
-
Days on market
-
Sold On
-
MLS number
ML81999162
Home ConditionGood
Features
View-
About this home
This 15-year-old single family was built in 2010 offering 3 bedrooms, office and garage. Property is located within a block from San Jose State university and for the past 13 years has been used as a rental to mostly university students with no vacancy. Currently $5600 monthly income. Utilities are included about $500 a month. accommodating 5 single room rentals. Perfect location and great condition of the property makes it ideal for income producing investment or enjoying low maintenance home centrally located.
Nearby schools
3/10
Lowell Elementary School
Public,•K-5•0.3mi
2/10
Selma Olinder Elementary School
Public,•K-5•0.6mi
4/10
Horace Mann Elementary School
Public,•K-5•0.6mi
4/10
Washington Elementary School
Public,•K-5•0.9mi
2/10
Grant Elementary School
Public,•K-5•1.4mi
4/10
Empire Gardens Elementary School
Public,•K-5•1.4mi
4/10
Gardner Elementary School
Public,•K-5•1.5mi
4/10
Merritt Trace Elementary School
Public,•K-5•2.8mi
4/10
Peter Burnett Middle School
Public,•6-8•1.9mi
3/10
Herbert Hoover Middle School
Public,•6-8•2.6mi
5/10
Willow Glen Middle School
Public,•6-8•3.2mi
6/10
Orchard Elementary School
Public,•K-8•4.0mi
3/10
San Jose High School
Public,•9-12•1.1mi
6/10
Independence High School
Public,•9-12•2.5mi
5/10
Abraham Lincoln High School
Public,•9-12•2.7mi
6/10
Willow Glen High School
Public,•9-12•3.2mi
Condition Rating
Good
The property was built in 2010, making it 15 years old, which falls within the 'Good' condition age range. Despite being a student rental for 13 years, the images show a well-maintained interior. The kitchen features modern dark shaker cabinets, light countertops, subway tile backsplash, and stainless steel appliances, all appearing in good condition. Bathrooms also exhibit modern vanities and tiled showers. Flooring is a mix of durable tile/laminate and carpet. Overall, the property is move-in ready with no immediate renovations required, consistent with a 'Good' rating.
Pros & Cons
Pros
Exceptional Rental Income & Occupancy: The property boasts a proven track record of 'no vacancy' for the past 13 years, generating a strong $5600 monthly income, indicating high demand and a reliable income stream.
Prime University-Adjacent Location: Strategically located 'within a block from San Jose State university,' ensuring a consistent and robust pool of student tenants and sustained rental demand.
Modern Construction & Good Condition: Described as a '15-year-old single family built in 2010' and in 'great condition,' suggesting lower immediate maintenance costs and a more contemporary living experience.
Optimized for Multi-Room Rental: The property is explicitly configured for 'accommodating 5 single room rentals,' maximizing its income potential from the existing footprint.
Versatile Investment Opportunity: Ideal for both an 'income producing investment' and potentially an owner-occupied 'low maintenance home centrally located,' broadening its appeal to diverse buyers.
Cons
Landlord-Covered Utilities: Utilities are included in the rent at approximately $500 per month, which reduces the net operating income and exposes the landlord to fluctuating utility costs.
Small Lot Size: The property sits on a very small lot of 2070 sqft, limiting outdoor space, privacy, and potential for future expansion or significant landscaping.
Discrepancy in Property Data: There's a significant discrepancy between the MLS 'year_built:1923' and the description 'built in 2010,' which requires clarification. Additionally, the 3-bedroom MLS count versus '5 single room rentals' suggests potential non-conforming conversions or layout ambiguities that need verification.