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1312 Dix St San Mateo, CA 94401

3 Beds 2 Baths 1,260 sqft Built 1954

$1,228,000

List Price

$3,840

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $974.60
  • 5 Days on Market
  • MLS # : ML81818296
  • Updated Date : 11/02/2020 at 08:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 2 full
Listing Agent

Living Estates Realty

Listing Agent's Description

Modern amenities include central air conditioning & a privacy fenced backyard with Heavenly Greens premium turf. Living room with vaulted ceiling, double pane windows, plantation shutters, and the warmth of a gas log fireplace. Distress wood look impervious vinyl flooring throughout, this open concept floor plan has a separate family room and sliding door to large patio. Kitchen with its natural light solar tube, recessed lights, generous work surfaces, abundant cabinets, water filtration system & a full grate gas range with microwave range hood inspires culinary delight. Three sizeable bedrooms adjacent a remodeled bath with shower over tub, main bedroom with en-suite bathroom & rainfall shower. A separate shed and concrete wraparound patio and walkway with gates on both sides allow for ease of movement and access to all the toys. Nestled on a low traffic street close to Joinville Pool, Parkside Aquatic Park & Beach, Bay Trail, shopping, Cal Train, 101, 92, & the Pacific coast.

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: South Shoreview

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $357k1432k

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

Neighborhood: South Shoreview

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $17894696

* 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
Parkside Elementary School Primary Magnet 371 17 6
Bayside S.t.e.m. Academy Middle Magnet 625 30 NA
Aragon High School High Regular 1,423 68 9

Parkside Elementary School

  • Education Level: Primary
  • # of students: 371
  • # of teachers: 17
6
GreatSchools Rating

Bayside S.t.e.m. Academy

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 30
NA
GreatSchools Rating

Aragon High School

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

$1,105,200$1,350,800$1,228,000

PURCHASE PRICE

$3,456$4,224$3,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,840
EXPENSES Loan Payment -$4,531
Property Tax -$1,314
Property Insurance -$58
Property Management Fees -$150
CASH FLOW
-$2,212

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.

$1,228,000

PROJECTED PRICE

$3,840

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$331,170

INVESTMENT

$331,170

Down Payment
$307,000
Rehab Estimate
$5,750
Closing Costs
$18,420

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $307,000
Loan Amount $921,000
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$61

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,840

    LIST RENT
  • $3.05

    LIST RENT PER SQFT
  • $4,010

    COMP ESTIMATED VALUE
  • $3.18

    COMP AVG. RENT PER SQFT
Comps Range
$3,840
1$3,8402$4,0753$4,1504$4,3505$4,500
$4,500
RENT COMPS ANALYSIS
  • 1312 Dix St San Mateo, CA 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $3,840
    • $3.05
    •  
  • 1694 Taylor St San Mateo, CA 2
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1954
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,075
    • $3.34
    •  
  • 1531 Dix St San Mateo, CA 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $2.96
    •  
  • 1816 Byron Ave San Mateo, CA 4
    • 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1952
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $3.22
    •  
  • 1657 Wolf Dr San Mateo, CA 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.21
    •  
PROPERTY LISTING DETAILS
Andrew Lomano
Living Estates Realty
BESbswy