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2006 Bishop Rd Belmont, CA 94002

4 Beds 2 Baths 1,620 sqft Built 1964

INVESTimate

$1,650,000

List Price

$4,770

$4,520 - $5,020

Rent Est.

$1,872,090  ( +13.46%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1964
  • Price/Sqft : $1,018.52
  • 2 Days on Market
  • MLS # : ML81806564
  • Updated Date : 08/25/2020 at 16:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Located in one of the most desirable neighborhoods in Belmont. Lovely Ranch Style home offers 4 bedrooms, 2 bathrooms, Eat-in Kitchen, leads to living room with fireplace and beautiful light from wall of windows and patio doors to the backyard. Upgrades include: double pane windows, beautiful oak front door with stained glass, refinished driveway and exterior paint. Hardwood floors under the carpets. Entry from 2 car garage has utility room with laundry and pantry shelves. Extra large shed in back for storage, seasoned fruit trees: peach, apple and lemon. Enjoy the beautiful views of canyons and sugarloaf open space nearby. Easy access to Hwy 92 & Hwy 280 & Crystal Springs Shopping Center. Excellent Belmont Schools!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Plateau-Skymont

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700kPrice in $450k1769k

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

Neighborhood: Plateau-Skymont

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $17085195

* 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
Ralston Middle School Middle Regular 1,130 49 9
Carlmont High School High Regular 2,183 107 9

Ralston Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 49
9
GreatSchools Rating

Carlmont High School

  • Education Level: High
  • # of students: 2,183
  • # of teachers: 107
9
GreatSchools Rating
 

$1,485,000$1,815,000$1,650,000

PURCHASE PRICE

$4,293$5,247$4,770

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$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,770
EXPENSES Loan Payment -$6,088
Property Tax -$1,686
Property Insurance -$66
Property Management Fees -$186
CASH FLOW
-$3,256

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.

$1,650,000

PROJECTED PRICE

$4,770

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 13.46%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$443,000

INVESTMENT

$443,000

Down Payment
$412,500
Rehab Estimate
$5,750
Closing Costs
$24,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $412,500
Loan Amount $1,237,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$28

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $5,034

    COMP ESTIMATED VALUE
  • $3.11

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,3003$4,8004$5,5005$5,600
$5,600
RENT COMPS ANALYSIS
  • 2006 Bishop Rd Belmont, 1
    • 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2177 Bunker Hill Dr San Mateo, 2
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1959
    property image
    LEASED 03/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $3.10
    •  
  • 1811 Randall Rd San Mateo, 3
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1969
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.89
    •  
  • 2920 Sunset Ter San Mateo, 4
    • 3 beds 1 baths ∙ 1,730 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,730 Sqft ∙ Built 1951
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $3.18
    •  
  • 2205 Bunker Hill Dr San Mateo, 5
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1958
    property image
    LEASED 04/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,600
    • $3.26
    •  
PROPERTY LISTING DETAILS
Lisa Sgarlato
Compass
BESbswy