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11 Bacon Ct Daly City, CA 94015

3 Beds 2 Baths 1,240 sqft Built 1976

INVESTimate

$948,000

List Price

$3,790

$3,540 - $4,040

Rent Est.

$1,039,577  ( +9.66%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1976
  • Price/Sqft : $764.52
  • 6 Days on Market
  • MLS # : ML81807232
  • Updated Date : 08/25/2020 at 15:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

This is a Serramonte classic! Conveniently located by the Serramonte Shopping Center, public transportation, and several schools, 11 Bacon Court offers the ideal blend of indoor and outdoor space. Upstairs, the open living room and formal dining area feature sleek hardwood floors and a cozy fireplace for the colder months, while the kitchen has space for a breakfast nook and double wall ovens that are ready for you to cook up a storm. Downstairs is a family room and a bonus bedroom, or a work-from-home office, that connects to a private and protected backyard thats perfect for lounging or growing your own vegetable garden.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Serramonte

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $342k1381k

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

Neighborhood: Serramonte

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $16104566

* 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
Daniel Webster Elementary School Primary Regular 455 18 4
Fernando Rivera Middle School Middle Regular 477 21 8
Terra Nova High School High Regular 1,037 46 8

Daniel Webster Elementary School

  • Education Level: Primary
  • # of students: 455
  • # of teachers: 18
4
GreatSchools Rating

Fernando Rivera Middle School

  • Education Level: Middle
  • # of students: 477
  • # of teachers: 21
8
GreatSchools Rating

Terra Nova High School

  • Education Level: High
  • # of students: 1,037
  • # of teachers: 46
8
GreatSchools Rating
 

$853,200$1,042,800$948,000

PURCHASE PRICE

$3,411$4,169$3,790

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,790
EXPENSES Loan Payment -$3,498
Property Tax -$1,037
Property Insurance -$57
Property Management Fees -$148
CASH FLOW
-$950

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.

$948,000

PROJECTED PRICE

$3,790

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.66%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$256,970

INVESTMENT

$256,970

Down Payment
$237,000
Rehab Estimate
$5,750
Closing Costs
$14,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,498

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,000
Loan Amount $711,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$9,902

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,790

    LIST RENT
  • $3.06

    LIST RENT PER SQFT
  • $3,763

    COMP ESTIMATED VALUE
  • $3.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4003$3,5704$3,6005$3,790
$3,790
RENT COMPS ANALYSIS
  • 11 Bacon Ct Daly City, 5
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,790
    • $3.06
    •  
  • 120 Simpson Dr Daly City, 1
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1969
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.91
    •  
  • 74 Norwood Ave Daly City, 2
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1971
    property image
    LEASED 03/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.93
    •  
  • 621 Forest Lake Dr Pacifica, 3
    • 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1964
    property image
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,570
    • $3.22
    •  
  • 198 Canterbury Ave Daly City, 4
    • 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1967
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.08
    •  
PROPERTY LISTING DETAILS
Lin Storer
Compass
BESbswy