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126 16th Ave San Mateo, CA 94402

3 Beds 2 Baths 2,035 sqft Built 1927

$1,980,000

List Price

$4,970

$4.7K - $5.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1927
  • Price/Sqft : $972.97
  • 92 Days on Market
  • MLS # : ML81802741
  • Updated Date : 10/30/2020 at 09:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,035 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Prepare to be amazed by this re-defined modern lifestyle, boasting two stunning designer residences on one lot! A new dimension for Hayward Park, masterminding a luxury Accessory Dwelling Unit on the rear grounds. SIP work-at-home supreme! San Francisco-style front home of 2 beds, 1 bath, plus office. *Owner has architectural plans to easily expand the main home into a one-level 3 bed, 2 bath!* Imagine and Dream! Classic hardwood floors, high barrel-vaulted ceilings, tall arched windows, and the original brick fireplace take a page from San Francisco's Marina District, benchmarking that legendary 1920s character. Brand new 1-bedroom, 1-bath guesthouse with a soaring loft-like ambiance. Ceilings rise to nearly 15 feet. Self-sufficient layout incorporates a marble-clad kitchen with island, media lounge, breakfast nook, showcase bathroom, full bedroom, laundry in unit, private courtyard. Mini orchard of apple, peach, and Avocado! Huge garage for 1-car, plus motorcycle. Alley Access.

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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: Hayward Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $392k1461k

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

Neighborhood: Hayward Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q220002200240026002800300032003400360038004000420044004600Rent in $19974696

* 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
Sunnybrae Elementary School Primary Magnet 527 23 2
Borel Middle School Middle Magnet 958 43 6
Aragon High School High Regular 1,423 68 9

Sunnybrae Elementary School

  • Education Level: Primary
  • # of students: 527
  • # of teachers: 23
2
GreatSchools Rating

Borel Middle School

  • Education Level: Middle
  • # of students: 958
  • # of teachers: 43
6
GreatSchools Rating

Aragon High School

  • Education Level: High
  • # of students: 1,423
  • # of teachers: 68
9
GreatSchools Rating
 

$1,782,000$2,178,000$1,980,000

PURCHASE PRICE

$4,473$5,467$4,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,970
EXPENSES Loan Payment -$7,305
Property Tax -$2,118
Property Insurance -$76
Property Management Fees -$194
CASH FLOW
-$4,723

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.

$1,980,000

PROJECTED PRICE

$4,970

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.7%
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$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M$8.0M

PROJECTED ANNUAL CASH FLOW

11530-$70k-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M$8.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$530,450

INVESTMENT

$530,450

Down Payment
$495,000
Rehab Estimate
$5,750
Closing Costs
$29,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$7,305

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $495,000
Loan Amount $1,485,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,970

    LIST RENT
  • $2.44

    LIST RENT PER SQFT
  • $5,723

    COMP ESTIMATED VALUE
  • $2.81

    COMP AVG. RENT PER SQFT
Comps Range
$4,750
1$4,7502$4,9703$5,0004$5,9005$6,250
$6,250
RENT COMPS ANALYSIS
  • 126 16th Ave San Mateo, CA 2
    • 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 1927 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 1927
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,970
    • $2.44
    •  
  • 1715 Palm Ave San Mateo, CA 1
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1927
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.77
    •  
  • 109 Hickory Ln San Mateo, CA 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1941
    property image
    LEASED 02/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.78
    •  
  • 538 Maple St San Mateo, CA 4
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1947 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1947
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,900
    • $2.88
    •  
  • 354 Franklin St San Mateo, CA 5
    • 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 1927 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 1927
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,250
    • $2.82
    •  
PROPERTY LISTING DETAILS
Geoffrey Nelson
Coldwell Banker Realty
BESbswy