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2322 Hacienda St San Mateo, CA 94403

2 Beds 1 Baths 1,200 sqft Built 1938

$1,375,000

List Price

$3,750

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $1,145.83
  • 3 Days on Market
  • MLS # : ML81825016
  • Updated Date : 01/08/2021 at 09:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,200 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Newly renovated home features hardwood floors, new paint inside and out, and dazzling vintage-style lighting. Open and flowing floor plan has a living room with half-circle adobe fireplace, formal dining room, and beautifully updated granite kitchen with stainless steel appliances. Large office or potential third bedroom, with fireplace and outside entrance to the rear yard and side gate for visitors. Two large bedrooms, each with plantation shutters, served by a remodeled bath in limestone and Kohler fixtures. Wonderful fully fenced corner lot has tropical and colorful foliage, plus ample space for fresh air living, gardening, and play. Perfect Beresford Manor location just 2 blocks from 25th Avenue with great restaurants, less than 2 miles to downtown San Mateo, a 10-minute drive to SFO, and ideal for commuting location to San Francisco or Silicon Valley.

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: Beresford Manor

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $434k1528k

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

Neighborhood: Beresford Manor

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2220024002600280030003200340036003800400042004400460048005000Rent in $21695135

* 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
Beresford Elementary School Primary Regular 287 11 7
Abbott Middle School Middle Magnet 802 38 5
Aragon High School High Regular 1,423 68 9

Beresford Elementary School

  • Education Level: Primary
  • # of students: 287
  • # of teachers: 11
7
GreatSchools Rating

Abbott Middle School

  • Education Level: Middle
  • # of students: 802
  • # of teachers: 38
5
GreatSchools Rating

Aragon High School

  • Education Level: High
  • # of students: 1,423
  • # of teachers: 68
9
GreatSchools Rating
 

$1,237,500$1,512,500$1,375,000

PURCHASE PRICE

$3,375$4,125$3,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,750
EXPENSES Loan Payment -$4,776
Property Tax -$1,471
Property Insurance -$56
Property Management Fees -$146
CASH FLOW
-$2,699

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.

$1,375,000

PROJECTED PRICE

$3,750

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$370,125

INVESTMENT

$370,125

Down Payment
$343,750
Rehab Estimate
$5,750
Closing Costs
$20,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$4,776

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $343,750
Loan Amount $1,031,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$55

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,750

    LIST RENT
  • $3.13

    LIST RENT PER SQFT
  • $3,756

    COMP ESTIMATED VALUE
  • $3.13

    COMP AVG. RENT PER SQFT
Comps Range
$3,375
1$3,3752$3,4503$3,7504$3,9505$4,200
$4,200
RENT COMPS ANALYSIS
  • 2322 Hacienda St San Mateo, CA 3
    • 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1938 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $3.13
    •  
  • 130 27th Ave San Mateo, CA 1
    • 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1947 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1947
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,375
    • $3.07
    •  
  • 115 27th Ave San Mateo, CA 2
    • 2 beds 2 baths ∙ 1,101 Sqft ∙ Built 1946 2 beds 2 baths ∙ 1,101 Sqft ∙ Built 1946
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $3.13
    •  
  • 2226 Isabelle Ave San Mateo, CA 4
    • 2 beds 1 baths ∙ 1,250 Sqft ∙ Built 1938 2 beds 1 baths ∙ 1,250 Sqft ∙ Built 1938
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $3.16
    •  
  • 171 31st Ave San Mateo, CA 5
    • 2 beds 1 baths ∙ 1,330 Sqft ∙ Built 1941 2 beds 1 baths ∙ 1,330 Sqft ∙ Built 1941
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.16
    •  
PROPERTY LISTING DETAILS
Raziel A. Ungar
Compass
BESbswy