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2084 San Carlos Ave San Carlos, CA 94070

2 Beds 1 Baths 1,020 sqft Built 1947

INVESTimate

$1,288,000

List Price

$3,730

$3,480 - $3,980

Rent Est.

$1,444,106  ( +12.12%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1947
  • Price/Sqft : $1,262.75
  • 2 Days on Market
  • MLS # : ML81804048
  • Updated Date : 08/25/2020 at 17:18
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,020 sqft
  • Baths : 1 full
Listing Agent

Kw Peninsula Estates

Listing Agent's Description

Welcome to the least expensive single family home in the City of Good Living. This home is close to downtown and on an oversized flat lot allowing for possible expansion and the addition of an ADU. Fantastic opportunity for first time buyer and investors alike. Virtually staged.

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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: Cordes

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $450k1852k

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

Neighborhood: Cordes

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $17345455

* 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
Arundel Elementary School Primary Charter 513 23 9
Tierra Linda Middle School Middle Charter 639 29 9
Carlmont High School High Regular 2,183 107 9

Arundel Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 23
9
GreatSchools Rating

Tierra Linda Middle School

  • Education Level: Middle
  • # of students: 639
  • # of teachers: 29
9
GreatSchools Rating

Carlmont High School

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

$1,159,200$1,416,800$1,288,000

PURCHASE PRICE

$3,357$4,103$3,730

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

PROJECTED ANNUAL CASH FLOW

11530-$45k-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,730
EXPENSES Loan Payment -$4,752
Property Tax -$1,388
Property Insurance -$52
Property Management Fees -$145
CASH FLOW
-$2,607

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.

$1,288,000

PROJECTED PRICE

$3,730

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 12.12%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$347,070

INVESTMENT

$347,070

Down Payment
$322,000
Rehab Estimate
$5,750
Closing Costs
$19,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $322,000
Loan Amount $966,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$41

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,730

    LIST RENT
  • $3.66

    LIST RENT PER SQFT
  • $3,677

    COMP ESTIMATED VALUE
  • $3.61

    COMP AVG. RENT PER SQFT
Comps Range
$3,730
1$3,7302$3,9003$3,995
$3,995
RENT COMPS ANALYSIS
  • 2084 San Carlos Ave San Carlos, 1
    • 2 beds 1 baths ∙ 1,020 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,020 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,730
    • $3.66
    •  
  • Paloma Ave Belmont, 2
    • 2 beds 1 baths ∙ 1,090 Sqft ∙ Built 1929 2 beds 1 baths ∙ 1,090 Sqft ∙ Built 1929
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $3.58
    •  
  • 1730 Robin Whipple Belmont, 3
    • 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $3.63
    •  
PROPERTY LISTING DETAILS
Jeff Lang
Kw Peninsula Estates
BESbswy