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279 Evergreen Dr South San Francisco, CA 94080

3 Beds 2 Baths 1,320 sqft Built 1964

$1,098,000

List Price

$3,350

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $831.82
  • 4 Days on Market
  • MLS # : ML81825750
  • Updated Date : 01/15/2021 at 14:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

This classic 3 bedroom, 2 bath home has been lovingly maintained & upgraded by the same family for over 57 years. Updates abound this charming home & include gleaming hardwood flooring throughout, 2 renovated bathrooms, double-pane windows and sliding door, decorative door casings, modern light fixtures & more. The light filled living room provides a contemporary fireplace with marble surround and decorative wood mantle, which opens to the expansive dining room. The updated kitchen offers quartz counter tops, stainless steel appliances, over sink window looking out over the tranquil rear yard and a French door pantry closet with ample storage space. The bedrooms, including a grand suite with ensuite bathroom, are set away from the main living spaces. The backyard features mature rose & bougainvillea bushes, apple, fig & apricot trees, lawn area & spacious patio. Great location -Approx .5 miles from BART, shopping & restaurants. Easy access to 101 & 280. Close to Serramonte, SFO & SF.

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
 

$988,200$1,207,800$1,098,000

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$3,814
Property Tax -$1,107
Property Insurance -$59
Property Management Fees -$131
CASH FLOW
-$1,760

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.

$1,098,000

PROJECTED PRICE

$3,350

PROJECTED RENT

0.31%

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

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$296,720

INVESTMENT

$296,720

Down Payment
$274,500
Rehab Estimate
$5,750
Closing Costs
$16,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,814

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $274,500
Loan Amount $823,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$62

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,350

    LIST RENT
  • $2.54

    LIST RENT PER SQFT
  • $3,346

    COMP ESTIMATED VALUE
  • $2.54

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,6003$3,8004$3,9505$4,000
$4,000
RENT COMPS ANALYSIS
  • 279 Evergreen Dr South San Francisco, CA 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.54
    •  
  • 136 Casey Dr South San Francisco, CA 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1955
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.77
    •  
  • 603 Stonegate Dr South San Francisco, CA 3
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1981
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.33
    •  
  • 3854 Howard Ct South San Francisco, CA 4
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1972
    property image
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.56
    •  
  • 557 Serra Dr South San Francisco, CA 5
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1955
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.48
    •  
PROPERTY LISTING DETAILS
Cynthia Smith
Compass
BESbswy