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1840 Sweetwood Dr Daly City, CA 94015

3 Beds 1 Baths 1,140 sqft Built 1946

INVESTimate

$888,000

List Price

$3,600

$3,350 - $3,850

Rent Est.

$986,479  ( +11.09%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1946
  • Price/Sqft : $778.95
  • 6 Days on Market
  • MLS # : ML81807154
  • Updated Date : 08/22/2020 at 12:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,140 sqft
  • Baths : 1 full
Listing Agent

Redfin

Listing Agent's Description

Located in the highly desirable Broadmoor Village neighborhood. Nicely updated three bedroom one bath home offers an exceptional light filled and modern open floor plan. Living room w/ fireplace and dining area with paneled accent wall that opens up to the recently remodeled kitchen. Boasts stainless steel appliances, quartz countertops, an abundance of cabinets with center island, that leads to a nicely landscaped backyard and expansive deck designed for entertaining offering quintessential California indoor/outdoor living. Enjoy the spacious bedrooms and updated bathroom with both tub and stall shower. Features wood flooring throughout, dual pane windows, freshly painted, solar panels, Hunter Douglas custom window coverings, recessed lighting, nicely landscaped front/backyard and attached 1 car garage with laundry area completes this homes charm. Amazingly convenient yet quiet location minutes to parks, Westlake, Serramonte Shopping Center, BART, HWY/280/101 and more!

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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: Broadmoor

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $336k1381k

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

Neighborhood: Broadmoor

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $16104566

* 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
Margaret Pauline Brown Elementary School Primary Regular 355 15 4
Ben Franklin Intermediate School Middle Regular 696 29 6
Terra Nova High School High Regular 1,037 46 8

Margaret Pauline Brown Elementary School

  • Education Level: Primary
  • # of students: 355
  • # of teachers: 15
4
GreatSchools Rating

Ben Franklin Intermediate School

  • Education Level: Middle
  • # of students: 696
  • # of teachers: 29
6
GreatSchools Rating

Terra Nova High School

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

$799,200$976,800$888,000

PURCHASE PRICE

$3,240$3,960$3,600

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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$3,276
Property Tax -$989
Property Insurance -$55
Property Management Fees -$140
CASH FLOW
-$860

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.

$888,000

PROJECTED PRICE

$3,600

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.09%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$241,070

INVESTMENT

$241,070

Down Payment
$222,000
Rehab Estimate
$5,750
Closing Costs
$13,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,276

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $222,000
Loan Amount $666,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$10,457

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,600

    LIST RENT
  • $3.16

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,600
$3,600
RENT COMPS ANALYSIS
  • 1840 Sweetwood Dr Daly City,
    • 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.16
    •  
PROPERTY LISTING DETAILS
Lucy Goldenshteyn
Redfin
BESbswy