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2701 Oakmont Dr San Bruno, CA 94066

3 Beds 2 Baths 1,440 sqft Built 1962

$1,188,000

List Price

$3,980

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $825.00
  • 4 Days on Market
  • MLS # : ML81824344
  • Updated Date : 01/02/2021 at 12:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

With an inviting courtyard entry and a serene backyard that looks out onto a forest of trees, 2701 Oakmont is like living in your own half-acre park. It has just undergone renovations with permits and features a new roof, gutters, attic insulation, furnace, and paint; fully updated bathrooms with a curbless shower in the master bath; refinished hardwood floors; and new double-pane windows and recessed lighting in the bedrooms. The move-in ready living room and kitchen also have limitless potential for future expansion and renovations, allowing future owners to pin their own style. Very desirable Mount Verde with great schools, minutes from shopping and easy access to 280.

SEE MORE

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: Monte Verde

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $366k1390k

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

Neighborhood: Monte Verde

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $17064566

* 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
Monte Verde Elementary School Primary Regular 551 22 9
Westborough Middle School Middle Regular 640 29 8
South San Francisco High School High Regular 1,403 58 6

Monte Verde Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 22
9
GreatSchools Rating

Westborough Middle School

  • Education Level: Middle
  • # of students: 640
  • # of teachers: 29
8
GreatSchools Rating

South San Francisco High School

  • Education Level: High
  • # of students: 1,403
  • # of teachers: 58
6
GreatSchools Rating
 

$1,069,200$1,306,800$1,188,000

PURCHASE PRICE

$3,582$4,378$3,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,980
EXPENSES Loan Payment -$4,383
Property Tax -$1,047
Property Insurance -$62
Property Management Fees -$155
CASH FLOW
-$1,667

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.

$1,188,000

PROJECTED PRICE

$3,980

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.3%
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-$30k-$20k-$10k$0.0$10k

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$320,570

INVESTMENT

$320,570

Down Payment
$297,000
Rehab Estimate
$5,750
Closing Costs
$17,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $297,000
Loan Amount $891,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,980

    LIST RENT
  • $2.76

    LIST RENT PER SQFT
  • $3,989

    COMP ESTIMATED VALUE
  • $2.77

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,9803$4,0004$4,2505$4,400
$4,400
RENT COMPS ANALYSIS
  • 2701 Oakmont Dr San Bruno, CA 2
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,980
    • $2.76
    •  
  • 3091 Medina Dr San Bruno, CA 1
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1963
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.64
    •  
  • 2500 Tipperary Ave South San Francisco, CA 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1963
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.67
    •  
  • 2440 Wexford Ave South San Francisco, CA 4
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1964
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.99
    •  
  • 2300 Evergreen Dr San Bruno, CA 5
    • 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 1956 4 beds 3 baths ∙ 1,580 Sqft ∙ Built 1956
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.78
    •  
PROPERTY LISTING DETAILS
Lin Storer
Compass
BESbswy