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1183 Hanover Daly City, CA 94014

3 Beds 2 Baths 1,030 sqft Built 1952

$899,000

List Price

$3,350

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1952
  • Price/Sqft : $872.82
  • 4 Days on Market
  • MLS # : BE40927660
  • Updated Date : 11/01/2020 at 14:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,030 sqft
  • Baths : 2 full
Listing Agent

Everest Realty Group

Listing Agent's Description

Don't Miss the Opportunity: Beautiful Remodeled Semi Detached Home with 3 Bedrooms, 2 Bath in Nice Neighborhood. Excellent location near Transportation (MUNI), BART and minutes to San Francisco downtown, SFO Airport, malls, and shopping.. Property is priced aggressively and won't last long! New Interior and Exterior Paint,. New remodeled Baths, Bedroom Floors, Granite counter Tops. Stainless Steel Stove, Microwave, Garbage Disposal & Many More. Come & See

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Crocker

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $322k1381k

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

Neighborhood: Crocker

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2160018002000220024002600280030003200340036003800400042004400Rent in $15384566

* 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
George Washington Elementary School Primary Regular 379 18 4
Thomas R. Pollicita Middle School Middle Regular 696 29 4
Terra Nova High School High Regular 1,037 46 8

George Washington Elementary School

  • Education Level: Primary
  • # of students: 379
  • # of teachers: 18
4
GreatSchools Rating

Thomas R. Pollicita Middle School

  • Education Level: Middle
  • # of students: 696
  • # of teachers: 29
4
GreatSchools Rating

Terra Nova High School

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

$809,100$988,900$899,000

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$3,317
Property Tax -$967
Property Insurance -$52
Property Management Fees -$131
CASH FLOW
-$1,117

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.

$899,000

PROJECTED PRICE

$3,350

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,832

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,350

    LIST RENT
  • $3.25

    LIST RENT PER SQFT
  • $3,667

    COMP ESTIMATED VALUE
  • $3.56

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,7503$4,200
$4,200
RENT COMPS ANALYSIS
  • 1183 Hanover Daly City, CA 1
    • 3 beds 2 baths ∙ 1,030 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,030 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $3.25
    •  
  • 8 Randall Ct Daly City, CA 2
    • 3 beds 2 baths ∙ 1,010 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,010 Sqft ∙ Built 1950
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $3.71
    •  
  • 132 Bellevue Ave Daly City, CA 3
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1952
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.41
    •  
PROPERTY LISTING DETAILS
Suraj Pakhrin
Everest Realty Group
BESbswy