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26 N Delaware St San Mateo, CA 94401

3 Beds 2 Baths 1,100 sqft Built 1907

$1,298,000

List Price

$3,630

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1907
  • Price/Sqft : $1,180.00
  • 5 Days on Market
  • MLS # : ML81822830
  • Updated Date : 12/12/2020 at 09:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,100 sqft
  • Baths : 2 full
Listing Agent

Living Estates Realty

Listing Agent's Description

Craftsman bungalow with modern amenities on a multi-residential lot entice the possibilities! Regal covered porch & living room w/ wainscoting, crown decorative inlays floor to tall ceiling w/ electric fireplace, fan light & remote. Enclosed solarium filled with light. 3 bedrooms with tall pane windows, brand new carpet and ceiling fans w/ light & remotes. New shaker cabinets w/ slow close & with quartz countertop, full back splash, new Samsung gas range& hood, GE Adora stainless dishwasher, large stainless sink w/ wand faucet. New tub and shower w/ quartz surround, tile shower floor & glass door, vanity sink & mirror. Laundry room w/ washer & dryer, vinyl flooring, new lighting & handle sets throughout. Turf inlay in front & privacy fenced backyard. New foundation 1998, partial sewer lateral replacement 2011, new roof, gutters & furnace 2017. 26 North Delaware is ideally located close to downtown San Mateo's exquisite dining, shopping and rail commute. Envision it for your own!

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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: Bowie Estate

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $289k1432k

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

Neighborhood: Bowie Estate

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $16884696

* 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
Laurel Elementary School Primary Regular 517 23 4
Abbott Middle School Middle Magnet 802 38 5
San Mateo High School High Regular 1,555 76 7

Laurel Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 23
4
GreatSchools Rating

Abbott Middle School

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

San Mateo High School

  • Education Level: High
  • # of students: 1,555
  • # of teachers: 76
7
GreatSchools Rating
 

$1,168,200$1,427,800$1,298,000

PURCHASE PRICE

$3,267$3,993$3,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,630
EXPENSES Loan Payment -$4,789
Property Tax -$1,388
Property Insurance -$54
Property Management Fees -$142
CASH FLOW
-$2,743

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.

$1,298,000

PROJECTED PRICE

$3,630

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.8%
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$4.5M

PROJECTED ANNUAL CASH FLOW

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

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$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,720

INVESTMENT

$349,720

Down Payment
$324,500
Rehab Estimate
$5,750
Closing Costs
$19,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,500
Loan Amount $973,500
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.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,740

    COMP ESTIMATED VALUE
  • $3.4

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,7503$3,9004$4,000
$4,000
RENT COMPS ANALYSIS
  • 26 N Delaware St San Mateo, CA 1
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1907 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1907
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 451 Villa Ter San Mateo, CA 2
    • 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1908 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1908
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $3.35
    •  
  • 35 N Idaho St San Mateo, CA 3
    • 3 beds 2 baths ∙ 1,027 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,027 Sqft ∙ Built 1925
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $3.80
    •  
  • 804 Morrell Burlingame, CA 4
    • 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1922
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $3.05
    •  
PROPERTY LISTING DETAILS
Andrew Lomano
Living Estates Realty
BESbswy