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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $895.14
- 4 Days on Market
- MLS # : BE40933526
- Updated Date : 01/07/2021 at 18:04
CONSTRUCTION
- Beds : 3
- Floor Size : 1,440 sqft
- Baths : 2 full
Listing Agent
Adams Adams & Morris
Listing Agent's Description
Bright, modern. move-in ready mid century modern home featuring 1440 sq ft, 3 bedrooms, 2 baths, and 2-car garage. Beam ceilings in family room, kitchen and bedrooms. Wood burning fireplace. LVT throughout living space with original parquet flooring in formal dining room. Light filled kitchen with granite counters, stainless steel appliances and skylight. Updated baths. Large yard is great for entertaining with vegetable garden and lots of storage. Sheds can easily utilized as chicken coop and/or playhouse. Side access for boat, RV or extra vehicles. Fenced front courtyard for additional entertainment space. Property meanders along lovely Leslie Creek. Walking distance to water front paths, park, shopping and restaurants. Easy access to 101 and 92.
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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: South Shoreview
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South Shoreview
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,320 |
| EXPENSES | Loan Payment | -$4,477 |
| Property Tax | -$1,379 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$168 | |
|
CASH FLOW
-$1,766
|
||
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.
$1,289,000
PROJECTED PRICE
$4,320
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$347,335
LOAN DETAILS
$4,477
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $322,250 |
| Loan Amount | $966,750 |
0.33
YEARS SAVED
$720
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,320
LIST RENT -
$3
LIST RENT PER SQFT
-
$4,648
COMP ESTIMATED VALUE -
$3.23
COMP AVG. RENT PER SQFT
Comps Range
-
1653 S Norfolk St San Mateo, CA 3
- 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1954
![property image]()
- Rent
- Rent Per SQFT
- $4,320
- $3.00
-
1531 Dix St San Mateo, CA 1
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954
![property image]()
LEASED 05/24/20- Rent
- Rent Per SQFT
- $4,150
- $2.96
-
1717 Brooks St San Mateo, CA 2
- 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1956
![property image]()
LEASED 08/17/20- Rent
- Rent Per SQFT
- $4,300
- $3.36
-
1657 Wolf Dr San Mateo, CA 4
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956
![property image]()
LEASED 08/07/20- Rent
- Rent Per SQFT
- $4,500
- $3.21
-
1757 Dewey St San Mateo, CA 5
- 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1956
![property image]()
LEASED 11/20/20- Rent
- Rent Per SQFT
- $4,500
- $3.38
PROPERTY LISTING DETAILS
Adams Adams & Morris
