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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Burlingame Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$463,670
LOAN DETAILS
$6,376
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $432,000 |
| Loan Amount | $1,296,000 |
-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.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$4,421
COMP ESTIMATED VALUE -
$3.12
COMP AVG. RENT PER SQFT
Comps Range
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- $4,495
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- 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
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1105 Hamilton Ln Burlingame, CA 5
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LEASED 11/20/19- Rent
- Rent Per SQFT
- $5,750
- $3.27
PROPERTY LISTING DETAILS
Compass
