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1302 S Mayfair Ave Daly City, CA 94015

2 Beds 1 Baths 1,060 sqft Built 1955

INVESTimate

$949,000

List Price

$3,710

$3,460 - $3,960

Rent Est.

$1,052,821  ( +10.94%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $895.28
  • 7 Days on Market
  • MLS # : ML81807101
  • Updated Date : 08/20/2020 at 18:46
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,060 sqft
  • Baths : 1 full
Listing Agent

Century 21 Baldini Realty

Listing Agent's Description

Trust Sale. This home has been well maintained by the owner. Upstairs has 2 bedrooms, 1 bathroom, kitchen, and open dining area and living room with a fireplace. Downstairs has 2 additional rooms. New paint and carpet throughout the house. A couple of blocks to 99 Ranch, restaurants, and a few minutes to Westlake Shopping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Westlake

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $344k1381k

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

Neighborhood: Westlake

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $16104566

* 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
Marjorie Helen Tobias School Primary Regular 401 16 8
Marjorie Helen Tobias School Middle Regular 401 16 8
Terra Nova High School High Regular 1,037 46 8

Marjorie Helen Tobias School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 16
8
GreatSchools Rating

Marjorie Helen Tobias School

  • Education Level: Middle
  • # of students: 401
  • # of teachers: 16
8
GreatSchools Rating

Terra Nova High School

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

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,339$4,081$3,710

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 $3,710
EXPENSES Loan Payment -$3,501
Property Tax -$1,021
Property Insurance -$53
Property Management Fees -$145
CASH FLOW
-$1,010

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.

$949,000

PROJECTED PRICE

$3,710

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.94%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$7,535

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $4,304

    COMP ESTIMATED VALUE
  • $4.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,950
$4,950
RENT COMPS ANALYSIS
  • 1302 S Mayfair Ave Daly City, 1
    • 2 beds 1 baths ∙ 1,060 Sqft ∙ Built 1955 2 beds 1 baths ∙ 1,060 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 72 Fairmont Dr Daly City, 2
    • 2 beds 1 baths ∙ 1,220 Sqft ∙ Built 1953 2 beds 1 baths ∙ 1,220 Sqft ∙ Built 1953
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $4.06
    •  
PROPERTY LISTING DETAILS
Cisy Hsu
Century 21 Baldini Realty
BESbswy