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1801 Bahia St San Mateo, CA 94403

3 Beds 2 Baths 1,340 sqft Built 1960

INVESTimate

$1,198,000

List Price

$4,150

$3,900 - $4,400

Rent Est.

$1,337,447  ( +11.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $894.03
  • 7 Days on Market
  • MLS # : ML81804443
  • Updated Date : 08/24/2020 at 23:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Opportunity is knocking!! Welcome to tour this beautiful Los Prados Charmer located in the desirable Lakeshore neighborhood of San Mateo! This perfect modernized home features 3 bedrooms 2 full baths, that has been extensively remodeled with exceptional attention to detail. The inviting open floor plan features a gourmet kitchen with brand new stainless-steel appliances, abundant cabinets and a modern style breakfast bar. Double sided fireplace separates living room and family room. Beautiful new wide-plank flooring & new baseboards throughout, new recessed lighting, new doors and freshly painted exterior and interior, double pane windows and only 2-year old roof, new garage door and more... Huge low maintenance, drought-resistant front yard, with a nice size backyard perfect for entertaining. Amazing location minutes to Highway 101 / 82, Caltrain, Whole Foods, and recently renovated Hillsdale Mall. Easy access to the Bay Trail for biking to Oracle tech park. A MUST SEE!!

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: Los Prados

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $327k1432k

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

Neighborhood: Los Prados

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22200240026002800300032003400360038004000420044004600Rent in $21624696

* 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

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
 

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

PURCHASE PRICE

$3,735$4,565$4,150

RENT

DOWN PAYMENT
FINANCING

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-$30k-$20k-$10k$0.0$10k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,150
EXPENSES Loan Payment -$4,420
Property Tax -$1,307
Property Insurance -$60
Property Management Fees -$162
CASH FLOW
-$1,798

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

$4,150

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.64%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

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 75% 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

0.25

YEARS SAVED

$576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,150

    LIST RENT
  • $3.1

    LIST RENT PER SQFT
  • $4,553

    COMP ESTIMATED VALUE
  • $3.4

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$4,1503$4,3004$4,6505$5,000
$5,000
RENT COMPS ANALYSIS
  • 1801 Bahia St San Mateo, 2
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $3.10
    •  
  • 316 Cupertino Way San Mateo, 1
    • 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1948
    LEASED 04/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.52
    •  
  • 1717 Brooks St San Mateo, 3
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1956
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $3.36
    •  
  • 264 Boothbay Ave Foster City, 4
    • 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1971
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,650
    • $3.16
    •  
  • 3610 Branson Dr San Mateo, 5
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1949
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $3.55
    •  
PROPERTY LISTING DETAILS
Maggie Guo
Compass
BESbswy