1500 Virginia Pl #127 · San Jose, CA 95116

$179,000

2 bd · 1.0 ba · 576 sqft · Manufactured · 204 Days on market

Built 1986 $311/sqft · 9% below area Est $197k · 9% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +11.6/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Schools +5.5/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated home in a prime San Jose location! Remodeled about one year ago with new flooring, fresh interior paint, upgraded kitchen cabinets, and a modern automatic toilet. Move-in ready and comes complete with essential furnishings, including a bed, table, refrigerator, and oven. Low space rent of just $1,018/month. An affordable and convenient opportunity in the heart of Silicon Valley dont miss it!

Key facts

• Move-in ready
• Remodeled
• Updated home

Tags

• UPDATED HOME
• PRIME SAN JOSE LOCATION
• REMODELED
• UPGRADED KITCHEN CABINETS
• MODERN AUTOMATIC TOILET
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $179k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 1.6% in San Jose — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#68 in CA, #2,559 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• East Side Union High (urban): math 53% / reading 70% proficiency, ranked #69 of 517 in CA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.5%/yr); 67 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• This rent runs 34% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $179k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 204 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.38%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (median comp): $197,042
• List price: $179,000
• Delta: -9.16%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
655 S 34th St #15	0.04mi	3/2.0 (+1)	600 (+4%)	10mo	$215,000	$358	74
661 Bonita Ave #12	0.21mi	2/1.0	624 (+8%)	13mo	$230,000	$369	66
540 Bonita #719	0.25mi	2/1.0	648 (+12%)	13mo	$285,000	$440	56
1300 E San Antonio St #85	0.54mi	1/1.0 (-1)	550 (-4%)	7mo	$135,000	$245	56
1300 E San Antonio St #55	0.54mi	1/1.0 (-1)	550 (-4%)	10mo	$110,000	$200	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 7.54% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.52×
• Total profit: $26,208
• Equity at exit: $26,689

10-year hold

• IRR: 24.7%
• Equity multiple: 3.62×
• Total profit: $131,420
• Equity at exit: $15,477

Cash invested: $50,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City San Jose: 0 Strongly Tenant-Friendly · D+24

Apartment Rent Ordinance covers pre-1979 multifamily.

Methodology + full state rankings →

ZIP-level market 95116

• Rents YoY: 7.5%
• Active inventory: 67
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,432 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $684

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 67%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 S 33rd St Unit 57B San Jose, CA	1.0	1.0	600	$1,900	$3.17	17d	1	0.57mi
374 S 21st St Unit 2 San Jose, CA	2.0	2.0	749	$3,199	$4.27	43d	1	0.69mi
1390 E Santa Clara St San Jose, CA	1.0	1.0	469	$2,298	$4.90	21d	1	0.70mi
1390 E Santa Clara St San Jose, CA	1.0	1.0	429	$2,298	$5.36	43d	1	0.70mi
1150 McLaughlin Ave San Jose, CA	1.0	1.0	530	$1,698	$3.20	1d	1	0.75mi
93 N 26th St Unit 95A San Jose, CA	1.0	1.0	600	$2,300	$3.83	43d	1	0.88mi
710 E San Fernando St Unit 2 San Jose, CA	1.0	1.0	500	$2,195	$4.39	17d	1	1.19mi
2340 Lendrum Ave San Jose, CA	2.0	1.0	735	$2,900	$3.95	3d	1	1.25mi
399 Court San Jose, CA	1.0	1.0	637	$1,699	$2.67	43d	1	1.26mi
2050 McKee Rd San Jose, CA	1.0–2.0	1.0	734	$3,629	$4.94	1d	7	1.29mi
382 S 10th St Unit B San Jose, CA	1.0	1.0	400	$1,795	$4.49	12d	1	1.41mi
524 S 9th St San Jose, CA	2.0	1.0	305	$1,995	$6.54	21d	1	1.46mi
2555 Alum Rock Ave San Jose, CA	1.0–2.0	1.0	620	$2,116	$3.41	1d	1	1.47mi

Listing history 14 events

1. 2026-06-05
   days on market $179,000 Active 204 DOM
2. 2026-06-03
   days on market $179,000 Active 203 DOM
3. 2026-06-02
   days on market $179,000 Active 202 DOM
4. 2026-06-01
   days on market $179,000 Active 201 DOM
5. 2026-05-31
   days on market $179,000 Active 200 DOM
6. 2026-05-07
   price $179,000 414-char remark

   Show marketing remark (414 chars)

   Beautifully updated home in a prime San Jose location! Remodeled about one year ago with new flooring, fresh interior paint, upgraded kitchen cabinets, and a modern automatic toilet. Move-in ready and comes complete with essential furnishings, including a bed, table, refrigerator, and oven. Low space rent of just $1,018/month. An affordable and convenient opportunity in the heart of Silicon Valley dont miss it!

7. 2026-05-07
   price $179,000 414-char remark

   Show marketing remark (414 chars)

   Beautifully updated home in a prime San Jose location! Remodeled about one year ago with new flooring, fresh interior paint, upgraded kitchen cabinets, and a modern automatic toilet. Move-in ready and comes complete with essential furnishings, including a bed, table, refrigerator, and oven. Low space rent of just $1,018/month. An affordable and convenient opportunity in the heart of Silicon Valley dont miss it!

8. 2026-01-14
   price $195,000 414-char remark

   Show marketing remark (414 chars)

   Beautifully updated home in a prime San Jose location! Remodeled about one year ago with new flooring, fresh interior paint, upgraded kitchen cabinets, and a modern automatic toilet. Move-in ready and comes complete with essential furnishings, including a bed, table, refrigerator, and oven. Low space rent of just $1,018/month. An affordable and convenient opportunity in the heart of Silicon Valley dont miss it!

9. 2026-01-14
   price $195,000 414-char remark

   Show marketing remark (414 chars)

   Beautifully updated home in a prime San Jose location! Remodeled about one year ago with new flooring, fresh interior paint, upgraded kitchen cabinets, and a modern automatic toilet. Move-in ready and comes complete with essential furnishings, including a bed, table, refrigerator, and oven. Low space rent of just $1,018/month. An affordable and convenient opportunity in the heart of Silicon Valley dont miss it!

10. 2025-11-13
    listed $199,000 Active 414-char remark

    Show marketing remark (414 chars)

    Beautifully updated home in a prime San Jose location! Remodeled about one year ago with new flooring, fresh interior paint, upgraded kitchen cabinets, and a modern automatic toilet. Move-in ready and comes complete with essential furnishings, including a bed, table, refrigerator, and oven. Low space rent of just $1,018/month. An affordable and convenient opportunity in the heart of Silicon Valley dont miss it!

11. 2025-11-13
    listed $199,000 Active 414-char remark

    Show marketing remark (414 chars)

    Beautifully updated home in a prime San Jose location! Remodeled about one year ago with new flooring, fresh interior paint, upgraded kitchen cabinets, and a modern automatic toilet. Move-in ready and comes complete with essential furnishings, including a bed, table, refrigerator, and oven. Low space rent of just $1,018/month. An affordable and convenient opportunity in the heart of Silicon Valley dont miss it!

12. 2016-03-02
    soldstatus $89,000 Sold 222-char remark

    Show marketing remark (222 chars)

    * * * Very Nice 1986 home with 2 bedrooms 1 full bath. Refrigerator, washer, dryer included. .. Wood floor through out. .. all double pane windows. .reset lights. .. beautiful moldings. .lots of upgrades. . low rent $751

13. 2016-02-08
    status Pending (Do Not Show) 222-char remark

    Show marketing remark (222 chars)

    * * * Very Nice 1986 home with 2 bedrooms 1 full bath. Refrigerator, washer, dryer included. .. Wood floor through out. .. all double pane windows. .reset lights. .. beautiful moldings. .lots of upgrades. . low rent $751

14. 2016-01-07
    listed $89,000 Active 222-char remark

    Show marketing remark (222 chars)

    * * * Very Nice 1986 home with 2 bedrooms 1 full bath. Refrigerator, washer, dryer included. .. Wood floor through out. .. all double pane windows. .reset lights. .. beautiful moldings. .lots of upgrades. . low rent $751

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 17 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,180
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,334
• − Management: −$2,334
• − Depreciation: −$5,207
• Taxable income: $5,697
• Est. tax owed @ 24.0%: −$1,367
• After-tax cash flow: $6,840/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: East Side Union High
• NCES district ID: 0611820
• Math proficiency: 53% ▲ 12.00%
• Reading proficiency: 70% ▲ 8.00%
• Median HH income: $80,293
• Composite: 55.15/100
• National rank: #1278
• State rank: #69 of 517 in CA

Livability — San Jose

• Score: 78/100
• State rank: #68
• US rank: #2559

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing B- Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Jose, CA
• County: Santa Clara County · 1,806,974 people
• City population: 954,479
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 48,042
• Household income: $85,818
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 2058.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 59% Asian 29% Two or more races 22% White 8% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Russian 2% Slovak 1% Subsaharan African 1%
• Foreign-born: 48% · Canada, Vietnam, China
• Languages at home: 22% English-only · Spanish 49% Vietnamese 12% Tagalog/Filipino 6%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -623.43%
• Current HPI: 352.328
• Rent YoY: ▲ 7.54%
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+101.1% since first listed

9 events — show timeline

• 2026-05-07 Price Changed $179,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-07 Price Changed $179,000 MLSListings
• 2026-01-14 Price Changed $195,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-01-14 Price Changed $195,000 MLSListings
• 2025-11-13 Listed $199,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-11-13 Listed $199,000 MLSListings
• 2016-03-02 Sold (MLS) $89,000 MLSListings
• 2016-02-08 Pending — MLSListings
• 2016-01-07 Listed $89,000 MLSListings