Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1168 Balboa Way Pacifica, CA 94044

3 Beds 1 Baths 1,040 sqft Built 1954

$998,000

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $959.62
  • 2 Days on Market
  • MLS # : ML81820351
  • Updated Date : 11/14/2020 at 14:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,040 sqft
  • Baths : 1 full
Listing Agent

Re/max Star Properties

Listing Agent's Description

Live by the sea in Linda Mar and hike the hills, surf, golf, and enjoy the great outdoors while living in this snazzy updated ranch-style home. Modern kitchen with stainless steel appliances, granite countertops, and extra storage. Easy to clean vinyl plank flooring and updated carpet, updated lighting in all rooms. baseboard and wall trim help create a seaside and warm modern look. The bathroom updates are the modern whites and grays and really sparkle. Nice new lawn in front with white picket fence. Stay at home and enjoy the low maintenance in the back yard with a covered patio and a fun firepit. New driveway and two car garage with washer/dryer. Close conveniences and freeway access. Grab your surfboard and head to beach and spend a day outdoors. Come! Look! See! Buy!

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: West Linda Mar

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $334k1381k

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

Neighborhood: West Linda Mar

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2160018002000220024002600280030003200340036003800400042004400Rent in $15984566

* 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
Ocean Shore Elementary School Primary Regular 414 17 8
Ocean Shore Elementary School Middle Regular 414 17 8
Terra Nova High School High Regular 1,037 46 8

Ocean Shore Elementary School

  • Education Level: Primary
  • # of students: 414
  • # of teachers: 17
8
GreatSchools Rating

Ocean Shore Elementary School

  • Education Level: Middle
  • # of students: 414
  • # of teachers: 17
8
GreatSchools Rating

Terra Nova High School

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

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$3,682
Property Tax -$1,116
Property Insurance -$52
Property Management Fees -$130
CASH FLOW
-$1,641

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.

$998,000

PROJECTED PRICE

$3,340

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,340

    LIST RENT
  • $3.21

    LIST RENT PER SQFT
  • $3,352

    COMP ESTIMATED VALUE
  • $3.22

    COMP AVG. RENT PER SQFT
Comps Range
$3,340
1$3,3402$3,9503$4,3504$4,500
$4,500
RENT COMPS ANALYSIS
  • 1168 Balboa Way Pacifica, CA 1
    • 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,340
    • $3.21
    •  
  • 847 Standish Rd Pacifica, CA 2
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1960
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $3.21
    •  
  • 696 Corona Dr Pacifica, CA 3
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1955
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $3.20
    •  
  • 1523 Valdez Way Pacifica, CA 4
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1960
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.26
    •  
PROPERTY LISTING DETAILS
Team Pete & Christine
Re/max Star Properties
BESbswy