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PROPERTY INFO
FACTS
- Single Family
- Built In 1924
- Price/Sqft : $1,343.70
- 7 Days on Market
- MLS # : ML81824477
- Updated Date : 01/05/2021 at 08:25
CONSTRUCTION
- Beds : 2
- Floor Size : 1,190 sqft
- Baths : 1 full
Listing Agent
Compass
Listing Agent's Description
Welcome to 1235 Paloma Ave. This charming, well-maintained bungalow-style home is located one block away from iconic downtown Broadway. As you enter this illuminated home, a brick fireplace invites you and your family to a lovely and cozy living space. The classic hardwood floors, plantation shutters, and the bright bedrooms supplement the appeal as well. A large kitchen and bathroom gives the next buyer an opportunity to remodel to their liking. In addition, a spacious detached garage provides ample room for multiple vehicles or a potential ADU conversion. The palm tree-lined backyard with a custom deck offers a daily private getaway. This home is also convenient to Burlingame Ave, U.S. 101, SFO, El Camino, BART, and Caltrain.
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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: Burlingame Grove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Burlingame Grove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,120 |
| EXPENSES | Loan Payment | -$5,554 |
| Property Tax | -$1,558 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$161 | |
|
CASH FLOW
-$3,208
|
||
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.
$1,599,000
PROJECTED PRICE
$4,120
PROJECTED RENT
0.26%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.83% |
| Appreciation Year (1-5) | 11.9% |
| 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
$429,485
LOAN DETAILS
$5,554
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $399,750 |
| Loan Amount | $1,199,250 |
-0.08
YEARS SAVED
-$68
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,120
LIST RENT -
$3.46
LIST RENT PER SQFT
-
$4,125
COMP ESTIMATED VALUE -
$3.47
COMP AVG. RENT PER SQFT
Comps Range
-
1235 Paloma Ave Burlingame, CA 2
- 2 beds 1 baths ∙ 1,190 Sqft ∙ Built 1924 2 beds 1 baths ∙ 1,190 Sqft ∙ Built 1924
![property image]()
- Rent
- Rent Per SQFT
- $4,120
- $3.46
-
1032 Paloma Ave 1032 Burlingame, CA 1
- 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1927 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1927
![property image]()
LEASED 08/31/20- Rent
- Rent Per SQFT
- $3,700
- $3.36
-
1045 Paloma Ave Burlingame, CA 3
- 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1932 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1932
![property image]()
LEASED 11/20/20- Rent
- Rent Per SQFT
- $4,200
- $3.50
-
1225 Drake Ave Burlingame, CA 4
- 2 beds 1 baths ∙ 1,300 Sqft ∙ Built 1923 2 beds 1 baths ∙ 1,300 Sqft ∙ Built 1923
![property image]()
LEASED 09/27/20- Rent
- Rent Per SQFT
- $4,600
- $3.54
PROPERTY LISTING DETAILS
Compass
