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147 Hiawatha Ave Pacifica, CA 94044

3 Beds 2 Baths 1,050 sqft Built 1958

$1,198,000

List Price

$3,360

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $1,140.95
  • 6 Days on Market
  • MLS # : ML81818035
  • Updated Date : 10/29/2020 at 15:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,050 sqft
  • Baths : 1 full , 1 half
Listing Agent

Kw Peninsula Estates

Listing Agent's Description

Charming home located in Pacificas desirable Vallemar neighborhood. Features include newly refinished hardwood floors throughout, new LED recessed lighting, and a gorgeous private lot. The living room offers a lovely brick wood burning stove, creating the perfect space to warm up after a day at the beach. The bright and inviting kitchen and dining area offer a great space for enjoying a night in. The master suite features an en suite half bath and private access to the side deck. The large side deck offers ample space to entertain and enjoy the sun setting over the Pacifica Ocean. Ideally located with quick access to Pacifica's stunning beaches and hiking trails, and HWY 1 for easy commuting.

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: Vallemar

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $356k1528k

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

Neighborhood: Vallemar

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $16205135

* 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
Ocean Shore Elementary School Primary Regular 414 17 8
Ocean Shore Elementary School Middle Regular 414 17 8
Terra Nova High School High Regular 1,037 46 8

Ocean Shore Elementary School

  • Education Level: Primary
  • # of students: 414
  • # of teachers: 17
8
GreatSchools Rating

Ocean Shore Elementary School

  • Education Level: Middle
  • # of students: 414
  • # of teachers: 17
8
GreatSchools Rating

Terra Nova High School

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

$1,078,200$1,317,800$1,198,000

PURCHASE PRICE

$3,024$3,696$3,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,360
EXPENSES Loan Payment -$4,420
Property Tax -$1,340
Property Insurance -$53
Property Management Fees -$131
CASH FLOW
-$2,584

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.

$1,198,000

PROJECTED PRICE

$3,360

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

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$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$45k-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

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$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,220

INVESTMENT

$323,220

Down Payment
$299,500
Rehab Estimate
$5,750
Closing Costs
$17,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,500
Loan Amount $898,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$78

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,360

    LIST RENT
  • $3.2

    LIST RENT PER SQFT
  • $3,686

    COMP ESTIMATED VALUE
  • $3.51

    COMP AVG. RENT PER SQFT
Comps Range
$3,360
1$3,3602$3,7953$4,0954$4,2005$4,300
$4,300
RENT COMPS ANALYSIS
  • 147 Hiawatha Ave Pacifica, CA 1
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $3,360
    • $3.20
    •  
  • 3850 Coronado Way San Bruno, CA 2
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1959
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $3.30
    •  
  • 616 Brighton Rd Pacifica, CA 3
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1956
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,095
    • $3.66
    •  
  • 269 Piedmont Ave Pacifica, CA 4
    • 3 beds 3 baths ∙ 1,140 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,140 Sqft ∙ Built 1963
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.68
    •  
  • 401 Pacific Ave Pacifica, CA 5
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1956
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $3.40
    •  
PROPERTY LISTING DETAILS
Len Stone Group
Kw Peninsula Estates
BESbswy