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121 Paradise Dr Pacifica, CA 94044

3 Beds 1 Baths 1,110 sqft Built 1967

INVESTimate

$925,000

List Price

$3,650

$3,400 - $3,900

Rent Est.

$1,032,763  ( +11.65%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1967
  • Price/Sqft : $833.33
  • 10 Days on Market
  • MLS # : ML81806515
  • Updated Date : 08/24/2020 at 17:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,110 sqft
  • Baths : 1 full
Listing Agent

Eccleston Incorporated

Listing Agent's Description

Jack and Jill roll up your sleeves, make this house your own and build sweat equity. Three bedroom 1 bathroom rancher has a very functional floor plan with 3 large bedrooms and plenty of closet space. Freshly painted with new carpets in bedrooms and hall. The nice sized formal dining room and separate large living room with fireplace make this home the perfect place to entertain guests. With a nice sized backyard. A commuter dream come true with Sam Trans bus stop very close by and the airport is only 20 minutes away. Very close to San Francisco, but in tranquil scenic Pacifica.

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: Fairmont West

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $327k1528k

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

Neighborhood: Fairmont West

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $14765135

* 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
Franklin Delano Roosevelt Elementary School Primary Regular 334 16 4
Fernando Rivera Middle School Middle Regular 477 21 8
Terra Nova High School High Regular 1,037 46 8

Franklin Delano Roosevelt Elementary School

  • Education Level: Primary
  • # of students: 334
  • # of teachers: 16
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
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$3,285$4,015$3,650

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$3.5M

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$3.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,650
EXPENSES Loan Payment -$3,413
Property Tax -$916
Property Insurance -$54
Property Management Fees -$142
CASH FLOW
-$875

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.

$925,000

PROJECTED PRICE

$3,650

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.65%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,413

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$10,675

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,650

    LIST RENT
  • $3.29

    LIST RENT PER SQFT
  • $3,852

    COMP ESTIMATED VALUE
  • $3.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,570
1$3,5702$3,6003$3,6504$3,8655$4,000
$4,000
RENT COMPS ANALYSIS
  • 121 Paradise Dr Pacifica, 3
    • 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $3.29
    •  
  • 621 Forest Lake Dr Pacifica, 1
    • 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1964
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,570
    • $3.22
    •  
  • 115 Paradise Dr Pacifica, 2
    • 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1967
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.24
    •  
  • 178 Catalina Ave Pacifica, 4
    • 3 beds 1 baths ∙ 1,060 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,060 Sqft ∙ Built 1964
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,865
    • $3.65
    •  
  • 7 Montebello Dr Daly City, 5
    • 3 beds 1 baths ∙ 1,060 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,060 Sqft ∙ Built 1960
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $3.77
    •  
PROPERTY LISTING DETAILS
Lisa Eccleston
Eccleston Incorporated
BESbswy