ZIP CODE 95123 // SAN JOSE-SUNNYVALE-SANTA CLARA, CA // DATA AS OF 2026-09-30
San Jose, CA (95123) Rental Property Cap Rate & Cash Flow Report
Located in Santa Clara County (San Jose, CA), Zip Code 95123 ranks #461 of 500 within this selected sample (8th percentile) with a Zillow ZHVI typical home-value index of $1,300,855 (-0.9% YoY) and a ZORI observed market rent of $3,503/mo (+8.0% YoY). Requires at least 78.9% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$4,842/mo
Annual: -$58,103/yr
Modeled Cap Rate
1.60%
NOI: $20,831/yr
Cash-on-Cash Return
-19.42%
Cash Needed: $299,197
1% Rule Ratio
0.27%
Gross Yield: 3.23%
Break-Even Rent
$9,068/mo
State Tax: 0.71%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 95123 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (CA Avg 0.71%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$6,578/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$1,767/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (95123)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $1,071,707 | $2,768/mo | 3.10% |
| 2022 | $1,216,911 | $3,059/mo | 3.02% |
| 2023 | $1,214,542 | $3,057/mo | 3.02% |
| 2024 | $1,366,662 | $3,102/mo | 2.72% |
| 2025 | $1,313,235 | $3,243/mo | 2.96% |
| 2026 | $1,300,855 | $3,503/mo | 3.23% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 90255 Huntington Park, CA | $668,582 | $1,807/mo | 1.61% | -$2,483/mo |
| 92630 Lake Forest, CA | $1,171,463 | $3,204/mo | 1.65% | -$4,317/mo |
| 94538 Fremont, CA | $1,254,332 | $3,296/mo | 1.53% | -$4,740/mo |
| 95035 Milpitas, CA | $1,384,570 | $3,614/mo | 1.52% | -$5,253/mo |
| 92683 Westminster, CA | $1,093,863 | $2,851/mo | 1.51% | -$4,154/mo |
| 90706 Bellflower, CA | $793,218 | $2,221/mo | 1.71% | -$2,879/mo |