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1502 S Delaware St San Mateo, CA 94402

4 Beds 3 Baths 1,697 sqft Built 1946

$1,995,000

List Price

$4,850

$4.6K - $5.1K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $1,175.60
  • 7 Days on Market
  • MLS # : ML81825289
  • Updated Date : 01/11/2021 at 08:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,697 sqft
  • Baths : 3 full
Listing Agent

Golden Gate Sotheby's International Realty

Listing Agent's Description

Recently upgraded with beautiful finishes, this San Mateo home is 'move-in' ready with 4 bedrooms, 3 baths in 1697 sq. ft. (buyer to verify sq. ft.) on a 5,000 sq. ft. lot. A cozy living room with fireplace flows easily into the breakfast nook and kitchen, fully equipped with Jenn-Air and Bosch appliances surrounded by marble countertops. A 2nd level with 2 spacious bedrooms and bathroom leads to a private 'split level' elegant master bedroom and bathroom. An attached ADU of 426 sq.ft. features 1 bedroom and bath, a nicely appointed kitchen with access to both the living room and kitchen. It also opens to the spacious back yard with lawn, orange and lemons trees, perfect for entertainment and relaxation. A single car garage is attached and large enough for storage racks if desired. Situated on Delaware Street, access to San Mateo and Highway 92 makes travel on the Peninsula easy and convenient.

SEE MORE

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: 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
 

$1,795,500$2,194,500$1,995,000

PURCHASE PRICE

$4,365$5,335$4,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,850
EXPENSES Loan Payment -$6,929
Property Tax -$2,134
Property Insurance -$68
Property Management Fees -$189
CASH FLOW
-$4,471

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.

$1,995,000

PROJECTED PRICE

$4,850

PROJECTED RENT

0.24%

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$534,425

INVESTMENT

$534,425

Down Payment
$498,750
Rehab Estimate
$5,750
Closing Costs
$29,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,929

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $498,750
Loan Amount $1,496,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,850

    LIST RENT
  • $2.86

    LIST RENT PER SQFT
  • $5,023

    COMP ESTIMATED VALUE
  • $2.96

    COMP AVG. RENT PER SQFT
Comps Range
$4,600
1$4,6002$4,8503$4,9504$4,9905$5,000
$5,000
RENT COMPS ANALYSIS
  • 1502 S Delaware St San Mateo, CA 2
    • 4 beds 3 baths ∙ 1,697 Sqft ∙ Built 1946 4 beds 3 baths ∙ 1,697 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $4,850
    • $2.86
    •  
  • 234 22nd Ave San Mateo, CA 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1937
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.79
    •  
  • 1724 Palm Ave San Mateo, CA 3
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1934 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1934
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.93
    •  
  • 601 Maple St San Mateo, CA 4
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1948
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,990
    • $3.18
    •  
  • 1721 Hamlet St San Mateo, CA 5
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1954
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.94
    •  
PROPERTY LISTING DETAILS
Sarah Ravella
Golden Gate Sotheby's International Realty
BESbswy