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213 Baltimore Way Daly City, CA 94014

3 Beds 1 Baths 1,130 sqft Built 1961

INVESTimate

$798,000

List Price

$3,450

$3,200 - $3,700

Rent Est.

$898,548  ( +12.60%)   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 1961
  • Price/Sqft : $706.19
  • 7 Days on Market
  • MLS # : ML81806045
  • Updated Date : 08/21/2020 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,130 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Gorgeous city views of neighboring San Francisco! First time on the market since the original owner purchased the home in 1961. Pride of ownership is evident in this well-maintained home with beautiful original hardwood floors throughout and newly painted interior and exterior. New double pane windows, high-end "Top Down Bottom Up" Shades, garage doors, water heater, and ceiling insulation. Enormous two-car garage and adjoining basement lead to a private backyard. The original owner used the ground floor basement as a woodworking workshop. Potential to create a new primary suite, playroom, fourth bedroom/guest room, office, workout room, or second unit. The roof was replaced less than ten years ago and is in great shape. You'll enjoy the location near commute routes, SFO, shopping, restaurants, entertainment, and lovely San Francisco. This home is a real gem!

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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: Crocker Amazon

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $344k1381k

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

Neighborhood: Crocker Amazon

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
Brisbane Elementary School Primary Regular 191 9 7
Lipman Middle School Middle Regular 159 11 7
Terra Nova High School High Regular 1,037 46 8

Brisbane Elementary School

  • Education Level: Primary
  • # of students: 191
  • # of teachers: 9
7
GreatSchools Rating

Lipman Middle School

  • Education Level: Middle
  • # of students: 159
  • # of teachers: 11
7
GreatSchools Rating

Terra Nova High School

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

$718,200$877,800$798,000

PURCHASE PRICE

$3,105$3,795$3,450

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-$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 $3,450
EXPENSES Loan Payment -$2,944
Property Tax -$882
Property Insurance -$54
Property Management Fees -$135
CASH FLOW
-$565

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.

$798,000

PROJECTED PRICE

$3,450

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.98%
Appreciation Year (1-5) 12.60%
Maintenance Year (1-5) 8.00%
Vacancy 6.18%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,220

INVESTMENT

$217,220

Down Payment
$199,500
Rehab Estimate
$5,750
Closing Costs
$11,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,944

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,500
Loan Amount $598,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$19,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,450

    LIST RENT
  • $3.05

    LIST RENT PER SQFT
  • $3,853

    COMP ESTIMATED VALUE
  • $3.41

    COMP AVG. RENT PER SQFT
Comps Range
$3,450
1$3,4502$4,200
$4,200
RENT COMPS ANALYSIS
  • 213 Baltimore Way Daly City, 1
    • 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $3.05
    •  
  • 132 Bellevue Ave Daly City, 2
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1952
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.41
    •  
PROPERTY LISTING DETAILS
Colleen Marchbank
Compass
BESbswy