5092 Cribari Pl

San Jose, CA 95135

$365,000D

1 bd · 1.0 ba · 947 sqft · Built 1969 · Condo · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,400/mo
• Mortgage (P&I): −$1,914
• Tax + insurance: −$678
• HOA: −$1,081
• Vac / Maint / Mgmt: −$714
• Net cashflow: $-987/mo
• Annual: $-11,846/yr
• Cap rate: 3.05%
• Cash-on-cash: -11.59%
• DSCR: 0.48
• 1% rule: 0.93%
• Cash to close: $102,200

Investor read

• This is a 1-bed/1.0-bath condo listed at $365k.
• At list price, monthly cash flow is $-987 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (47.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $340k (6.8% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $191k (47.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-1.6%/yr); year-one equity from $3k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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.
• Evergreen Elementary (urban): math 61% / reading 66% proficiency, ranked #132 of 1,400 in CA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chaboya Middle (853 students, 14% FRL); Evergreen Valley High (math 76% / reading 83%, grade A-, #45 of 1,170 statewide, top 4%, 2,767 students, 13% FRL).
• Zoned-school proficiency averages 80% at this address vs 64% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Evergreen Elementary average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: HOA is 32% of rent.
• Market conditions: 80 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $265k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 3.0% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.