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224 Forest View Dr South San Francisco, CA 94080

4 Beds 2 Baths 2,490 sqft Built 1953

$1,299,000

List Price

$5,700

$5.5K - $6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $521.69
  • 5 Days on Market
  • MLS # : ML81825688
  • Updated Date : 01/14/2021 at 19:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,490 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

This large and turn key in the ever so popular Sunshine Gardens has all the new finishes one can wish for in this well kept home. The sizable 4 bedroom layout has a grand master with its own walk in closet and chic en suite modern bath. Peekaboo views and has a 2 car garage and private spacious backyard. With its own side gate for recreational vehicles or a boat. Convenient location near BART Station, Trader Joe's, Costco, Starbucks, Kaiser Hospital, Highway 101 & 280 for easy commute to San Francisco & Silicon Valley. Genentech & other Biotech Companies are just a few minutes away.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunshine Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $367k1381k

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

Neighborhood: Sunshine Gardens

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $16334566

* 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
Sunshine Gardens Elementary School Primary Regular 405 17 3
Parkway Heights Middle School Middle Regular 628 28 4
El Camino High School High Regular 1,430 59 8

Sunshine Gardens Elementary School

  • Education Level: Primary
  • # of students: 405
  • # of teachers: 17
3
GreatSchools Rating

Parkway Heights Middle School

  • Education Level: Middle
  • # of students: 628
  • # of teachers: 28
4
GreatSchools Rating

El Camino High School

  • Education Level: High
  • # of students: 1,430
  • # of teachers: 59
8
GreatSchools Rating
 

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$5,130$6,270$5,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,700
EXPENSES Loan Payment -$4,512
Property Tax -$1,309
Property Insurance -$87
Property Management Fees -$222
CASH FLOW
-$431

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.

$1,299,000

PROJECTED PRICE

$5,700

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$4,512

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$59,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,700

    LIST RENT
  • $2.29

    LIST RENT PER SQFT
  • $8,665

    COMP ESTIMATED VALUE
  • $3.48

    COMP AVG. RENT PER SQFT
Comps Range
$5,700
1$5,7002$7,800
$7,800
RENT COMPS ANALYSIS
  • 224 Forest View Dr South San Francisco, CA 1
    • 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1953 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $5,700
    • $2.29
    •  
  • 2340 Donegal Ave South San Francisco, CA 2
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1963
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,800
    • $3.48
    •  
PROPERTY LISTING DETAILS
Mariana Pappalardo
Compass
BESbswy