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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bowie Estate
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$349,720
LOAN DETAILS
$4,789
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $324,500 |
| Loan Amount | $973,500 |
-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.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$3,740
COMP ESTIMATED VALUE -
$3.4
COMP AVG. RENT PER SQFT
Comps Range
-
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
Living Estates Realty
