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1129 Clovelly Ln Burlingame, CA 94010

3 Beds 2 Baths 1,418 sqft Built 1941

$1,728,000

List Price

$4,430

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $1,218.62
  • 4 Days on Market
  • MLS # : ML81820435
  • Updated Date : 11/20/2020 at 12:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,418 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Situated on an ideal tree-lined�cul de sac�in Burlingame Village, this charming home welcomes you into a large living room with a cozy wood burning fireplace flanked by built-in bookshelves. A lovely archway moves you into the dining room and kitchen which feature white shaker cabinets and stainless steel appliances, including a gas range and a reverse osmosis water filtration system. Off the kitchen is the laundry room and garage. The bedroom wing of the home enjoys 3 beds and 2 full baths. Both the dining and master bedroom open to your large back deck with built-in bench seating and a gas BBQ hook-up, perfect for entertaining with friends & family. Stepping down from the deck, you are greeted with�a mature Redwood Tree, lawn area, playhouse�and planter boxes. New interior paint throughout, updated lighting, tankless water heater and Ring doorbell. Short walk to Village Park and easy access to SFO, Hwys 280 & 101, shopping & restaurants!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Burlingame Village

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000k2200kPrice in $450k2244k

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

Neighborhood: Burlingame Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2250030003500400045005000550060006500Rent in $23036933

* 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
Lincoln Elementary School Primary Regular 495 21 9
Burlingame Intermediate School Middle Regular 1,004 46 9
Burlingame High School High Regular 1,316 64 10

Lincoln Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 21
9
GreatSchools Rating

Burlingame Intermediate School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 46
9
GreatSchools Rating

Burlingame High School

  • Education Level: High
  • # of students: 1,316
  • # of teachers: 64
10
GreatSchools Rating
 

$1,555,200$1,900,800$1,728,000

PURCHASE PRICE

$3,987$4,873$4,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,430
EXPENSES Loan Payment -$6,376
Property Tax -$1,672
Property Insurance -$61
Property Management Fees -$173
CASH FLOW
-$3,852

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.

$1,728,000

PROJECTED PRICE

$4,430

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.1%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$463,670

INVESTMENT

$463,670

Down Payment
$432,000
Rehab Estimate
$5,750
Closing Costs
$25,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,376

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $432,000
Loan Amount $1,296,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$127

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
  • $4,421

    COMP ESTIMATED VALUE
  • $3.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,0003$4,4954$4,8005$5,750
$5,750
RENT COMPS ANALYSIS
  • 1129 Clovelly Ln Burlingame, CA 1
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 22 Poplar Ave Millbrae, CA 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1961
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $3.08
    •  
  • 1644 Marco Polo Way Burlingame, CA 3
    • 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1950
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $3.00
    •  
  • 930 Sequoia Ave Millbrae, CA 4
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1956
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.12
    •  
  • 1105 Hamilton Ln Burlingame, CA 5
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1942
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,750
    • $3.27
    •  
PROPERTY LISTING DETAILS
Sternsmith Group
Compass
BESbswy