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1741 Hemlock Ave San Mateo, CA 94401

2 Beds 1 Baths 1,060 sqft Built 1951

INVESTimate

$1,098,000

List Price

$3,440

$3,190 - $3,690

Rent Est.

$1,250,293  ( +13.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1951
  • Price/Sqft : $1,035.85
  • 6 Days on Market
  • MLS # : ML81807271
  • Updated Date : 08/24/2020 at 11:09
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,060 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Beautifully Updated with Tasteful Renovations this Wonderful Home offers an Open Floor Plan that Naturally Integrates the Casual Indoor/Outdoor Lifestyle of Bay Area Living with the Perfect Balance of Space and Efficiency. Featuring Two Spacious Bedrooms, & New, Remodeled Bathroom, Hardwood Flooring & Brick Fireplace in a Generous, Living Room, Connecting to Dining Room & Remodeled Chef's Kitchen, with New Quartz Countertops, Brand New Cabinetry, Stainless Steel Appliances, adjacent to the Expansive Family Room, w/walk-in closet & Glass Door Leading into the Beautifully Landscaped Gardens & Patio, with Tasteful Stone Paving Blends, an Open Gazebo,& Lush Greenery with Fruit Trees. The Sun-filled, Open Areas Throughout make it the Perfect spot for Entertaining. Centrally located between San Francisco & Silicon Valley, & only minutes from Nearby Parks, Schools, convenient commuter routes, & Vibrant Downtown San Mateo. Welcome, Home! Additional Sq.Footage has been added; Buyer to verify).

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: 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
Lead Elementary School Primary Magnet 513 22 2
Bayside S.t.e.m. Academy Middle Magnet 625 30 NA
Aragon High School High Regular 1,423 68 9

Lead Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 22
2
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
 

$988,200$1,207,800$1,098,000

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$4,051
Property Tax -$1,175
Property Insurance -$53
Property Management Fees -$134
CASH FLOW
-$1,973

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.

$1,098,000

PROJECTED PRICE

$3,440

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.87%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$296,720

INVESTMENT

$296,720

Down Payment
$274,500
Rehab Estimate
$5,750
Closing Costs
$16,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $274,500
Loan Amount $823,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$58

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $3.25

    LIST RENT PER SQFT
  • $3,441

    COMP ESTIMATED VALUE
  • $3.25

    COMP AVG. RENT PER SQFT
Comps Range
$3,440
1$3,4402$3,6953$3,9504$4,150
$4,150
RENT COMPS ANALYSIS
  • 1741 Hemlock Ave San Mateo, 1
    • 2 beds 1 baths ∙ 1,060 Sqft ∙ Built 1951 2 beds 1 baths ∙ 1,060 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $3.25
    •  
  • 132 N Rochester St San Mateo, 2
    • 2 beds 1 baths ∙ 1,050 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,050 Sqft ∙ Built 1947
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $3.52
    •  
  • 2226 Isabelle Ave San Mateo, 3
    • 2 beds 1 baths ∙ 1,250 Sqft ∙ Built 1938 2 beds 1 baths ∙ 1,250 Sqft ∙ Built 1938
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $3.16
    •  
  • 554 S El Camino Real San Mateo, 4
    • 2 beds 2 baths ∙ 1,354 Sqft ∙ Built 1946 2 beds 2 baths ∙ 1,354 Sqft ∙ Built 1946
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $3.06
    •  
PROPERTY LISTING DETAILS
Ronda O'leary
Compass
BESbswy