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PROPERTY INFO
FACTS
- Single Family
- Built In 1947
- Price/Sqft : $1,287.13
- 3 Days on Market
- MLS # : ML81821558
- Updated Date : 11/27/2020 at 17:24
CONSTRUCTION
- Beds : 2
- Floor Size : 1,010 sqft
- Baths : 1 full
Listing Agent
Compass
Listing Agent's Description
One of the most delightful cul-de-sac locations in Belmont! This property offers you the choice to make the home yours as it is or make it your dream home. A charming 1947 home with trim details also offers an indoor/outdoor orientation that makes full use of the front and back yards. A bonus room over the garage was added by the previous owner and provides that extra touch for storage, projects, play, or a home office. Additionally, a greenhouse was constructed in the backyard that can be adapted easily to your needs. The built-in grill and deck will be the site of entertaining in the years to come. Come and see this delightful home, yard, and street to find out how you might make this one yours. At this time you will see the neighborhood in full autumn color.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Belmont Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Belmont Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,560 |
| EXPENSES | Loan Payment | -$4,796 |
| Property Tax | -$1,394 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$139 | |
|
CASH FLOW
-$2,821
|
||
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.
$1,300,000
PROJECTED PRICE
$3,560
PROJECTED RENT
0.27%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.17% |
| Appreciation Year (1-5) | 10.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.37% |
| 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
$350,250
LOAN DETAILS
$4,796
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $325,000 |
| Loan Amount | $975,000 |
-0.17
YEARS SAVED
-$111
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,560
LIST RENT -
$3.52
LIST RENT PER SQFT
-
$3,560
COMP ESTIMATED VALUE -
$3.53
COMP AVG. RENT PER SQFT
Comps Range
-
1841 Robin Whipple Way Belmont, CA 2
- 2 beds 1 baths ∙ 1,010 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,010 Sqft ∙ Built 1947
- Rent
- Rent Per SQFT
- $3,560
- $3.52
-
906 Academy Belmont, CA 1
- 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1964 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1964
LEASED 11/09/20- Rent
- Rent Per SQFT
- $3,495
- $3.50
-
Paloma Ave Belmont, CA 3
- 2 beds 1 baths ∙ 1,090 Sqft ∙ Built 1929 2 beds 1 baths ∙ 1,090 Sqft ∙ Built 1929
LEASED 08/28/20- Rent
- Rent Per SQFT
- $3,900
- $3.58
-
1730 Robin Whipple Belmont, CA 4
- 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947
LEASED 03/31/20- Rent
- Rent Per SQFT
- $3,995
- $3.63
-
321 42nd Ave San Mateo, CA 5
- 2 beds 2 baths ∙ 1,180 Sqft ∙ Built 1949 2 beds 2 baths ∙ 1,180 Sqft ∙ Built 1949
LEASED 02/15/20- Rent
- Rent Per SQFT
- $4,000
- $3.39
PROPERTY LISTING DETAILS
Compass
