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1050 Pinehurst Ct Millbrae, CA 94030

3 Beds 2 Baths 1,832 sqft Built 1956

$1,900,000

List Price

$4,670

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $1,037.12
  • 91 Days on Market
  • MLS # : ML81816312
  • Updated Date : 01/14/2021 at 13:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,832 sqft
  • Baths : 2 full
Listing Agent

Perisson Real Estate, Inc.

Listing Agent's Description

Ideally situated at the end of a quiet culdesac in the desirable Meadows area, this lovely home features a large family room (~331sf) which can be used as an office, expansion as an in-law and more. Includes bright and spacious living room with fireplace, separate dining room area with custom stained glass decoration to capture natural light. Updated kitchen includes newer SS appliances and well-sized breakfast nook w/easy access to amazing backyard. Well-sized bedrooms, including full master suite, and updated bathrooms. HW flooring, new carpet, newly painted inside & out, this home is ready to move in with room for new owners to update further. Abundant backyard with pear, orange, lemon, apple and apricot trees PLUS room for both a flower garden and vegetable garden. Large back patio is perfect for BBQ with friends & family to gather with direct access to the Meadows school playground. Prime location with easy access to highway, downtown, award-winning schools and more!

SEE MORE

MARKET HIGHLIGHTS

  • Palo Alto, Redwood City, Mountain View and San Mateo together attracted around $11 billion in venture capital funding in 2019 making Silicon Valley still attractive to technology investments (Crunchbase News, 2020)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • San Jose metro's economy has been worth $282.2 billion in Gross Metro Product (GMP) in 2018 and is projected to grow to $298.6 billion in 2019. GMP measures the productivity of the metro. (USMayors.org, 2018)
  • San Jose metro employment growth has been at 2.2% in 2018 and predicted to grow at 1.9% in 2019 (USMayors.org, 2018)
  • San Jose metro contributes to 9% of California state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Millbrae Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700kPrice in $450k1763k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Millbrae Meadows

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2220024002600280030003200340036003800400042004400460048005000Rent in $20355135

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Meadows Elementary School Primary Regular 424 17 7
Taylor Middle School Middle Regular 881 40 7
Mills High School High Regular 1,214 56 9

Meadows Elementary School

  • Education Level: Primary
  • # of students: 424
  • # of teachers: 17
7
GreatSchools Rating

Taylor Middle School

  • Education Level: Middle
  • # of students: 881
  • # of teachers: 40
7
GreatSchools Rating

Mills High School

  • Education Level: High
  • # of students: 1,214
  • # of teachers: 56
9
GreatSchools Rating
 

$1,710,000$2,090,000$1,900,000

PURCHASE PRICE

$4,203$5,137$4,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,670
EXPENSES Loan Payment -$6,599
Property Tax -$1,839
Property Insurance -$71
Property Management Fees -$182
CASH FLOW
-$4,022

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,900,000

PROJECTED PRICE

$4,670

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 12.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$509,250

INVESTMENT

$509,250

Down Payment
$475,000
Rehab Estimate
$5,750
Closing Costs
$28,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$6,599

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $475,000
Loan Amount $1,425,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$133

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $5,139

    COMP ESTIMATED VALUE
  • $2.81

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,4003$4,8754$5,1005$5,400
$5,400
RENT COMPS ANALYSIS
  • 1050 Pinehurst Ct Millbrae, CA 1
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1109 Fernwood Dr Millbrae, CA 2
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1956
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.66
    •  
  • 311 Lowell Ave San Bruno, CA 3
    • 4 beds 3 baths ∙ 1,670 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,670 Sqft ∙ Built 1959
    property image
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,875
    • $2.92
    •  
  • 2804 Trousdale Dr Burlingame, CA 4
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1959
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,100
    • $2.90
    •  
  • 1467 Madera Way Millbrae, CA 5
    • 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1964
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,400
    • $2.74
    •  
PROPERTY LISTING DETAILS
Jean Joh
Perisson Real Estate, Inc.
BESbswy