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PROPERTY INFO
FACTS
- Single Family
- Built In 1947
- Price/Sqft : $1,088.98
- 28 Days on Market
- MLS # : ML81823778
- Updated Date : 01/15/2021 at 21:11
CONSTRUCTION
- Beds : 2
- Floor Size : 1,652 sqft
- Baths : 2 full
Listing Agent
Dwell Realtors, Inc.
Listing Agent's Description
On the highly coveted Robin Whipple Way cul de sac, this home welcomes you with refinished hardwood floors & an ideal layout. Two bedrooms are off the main living space & there is a 3rd sleeping/work space in the permitted loft area above the second living space; a perfect set-up for today's work at home needs. The primary suite has a spa-like bathroom w/ heated floors, natural light & soaking tub. The hall bathroom was renovated with marble floors & rain showerhead. Discerning chefs will love the kitchen fashioned w/ real stone Quartzite countertops, ample storage & stainless steel appliances including Thermador 6-burner range & dishwasher. The oversized backyard is a gardeners & entertainers delight with mature fruit trees, large deck, plumbed gas line for a BBQ & lawn area. This neighborhood of Belmont is prized for its proximity to Carlmont Shopping Center, Barrett Community Center, Safeway, public library, hiking trails, parks & highly rated K-12 schools.
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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: 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 | $4,620 |
| EXPENSES | Loan Payment | -$6,249 |
| Property Tax | -$1,930 | |
| Property Insurance | -$67 | |
| Property Management Fees | -$180 | |
|
CASH FLOW
-$3,805
|
||
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.
$1,799,000
PROJECTED PRICE
$4,620
PROJECTED RENT
0.26%
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
$482,485
LOAN DETAILS
$6,249
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $449,750 |
| Loan Amount | $1,349,250 |
-0.17
YEARS SAVED
-$167
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,620
LIST RENT -
$2.8
LIST RENT PER SQFT
-
$5,220
COMP ESTIMATED VALUE -
$3.16
COMP AVG. RENT PER SQFT
Comps Range
-
1870 Robin Whipple Way Belmont, CA 2
- 2 beds 2 baths ∙ 1,652 Sqft ∙ Built 1947 2 beds 2 baths ∙ 1,652 Sqft ∙ Built 1947
![property image]()
- Rent
- Rent Per SQFT
- $4,620
- $2.80
-
171 31st Ave San Mateo, CA 1
- 2 beds 1 baths ∙ 1,330 Sqft ∙ Built 1941 2 beds 1 baths ∙ 1,330 Sqft ∙ Built 1941
![property image]()
LEASED 10/19/19- Rent
- Rent Per SQFT
- $4,200
- $3.16
PROPERTY LISTING DETAILS
Dwell Realtors, Inc.
