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284 41st Ave San Mateo, CA 94403

4 Beds 3 Baths 2,310 sqft Built 1946

INVESTimate

$1,898,000

List Price

$5,810

$5,560 - $6,060

Rent Est.

$2,077,741  ( +9.47%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1946
  • Price/Sqft : $821.65
  • 6 Days on Market
  • MLS # : ML81807201
  • Updated Date : 08/23/2020 at 13:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,310 sqft
  • Baths : 3 full
Listing Agent

Dwell Realtors, Inc.

Listing Agent's Description

Absolutely stunning views from this spacious four bedroom, three bath home, which is tucked away in a scenic location in the lower San Mateo hills. Upon entering the front door, you will immediately have your attention drawn to the captivating views through the large picture windows in the living room. The main level of the home has a large living room, formal dining, a kitchen with views, a full bath, master suite and a second bedroom. Downstairs you will find two spacious bedrooms, a full bathroom, family room and laundry room. The large deck off the living room and kitchen allows for countless entertaining possibilities with views that are endless and offer different scenery as day changes to night. The backyard offers a lower deck, fire pit area, grass and mature trees. Enjoy a true mid-peninsula location with easy access to many key commuter access points. This home is available to view by appointment only in full compliance with San Mateo County health protocols.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Westwood Knolls

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $438k1630k

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

Neighborhood: Westwood Knolls

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2220024002600280030003200340036003800400042004400460048005000Rent in $21575135

* 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

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
 

$1,708,200$2,087,800$1,898,000

PURCHASE PRICE

$5,229$6,391$5,810

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$50k-$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$6.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,810
EXPENSES Loan Payment -$7,003
Property Tax -$2,030
Property Insurance -$83
Property Management Fees -$227
CASH FLOW
-$3,532

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.

$1,898,000

PROJECTED PRICE

$5,810

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 9.47%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$508,720

INVESTMENT

$508,720

Down Payment
$474,500
Rehab Estimate
$5,750
Closing Costs
$28,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$7,003

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $474,500
Loan Amount $1,423,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$19

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,810

    LIST RENT
  • $2.52

    LIST RENT PER SQFT
  • $6,104

    COMP ESTIMATED VALUE
  • $2.64

    COMP AVG. RENT PER SQFT
Comps Range
$5,500
1$5,5002$5,8103$6,0004$6,0005$6,300
$6,300
RENT COMPS ANALYSIS
  • 284 41st Ave San Mateo, 2
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1946 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1946
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,810
    • $2.52
    •  
  • 237 42nd Ave San Mateo, 1
    • 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1955 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1955
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.43
    •  
  • 704 27th Ave San Mateo, 3
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1948
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.88
    •  
  • 347 Rolling Hills Ave San Mateo, 4
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1954 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1954
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.86
    •  
  • 2211 Ewell Rd Belmont, 5
    • 5 beds 3 baths ∙ 2,630 Sqft ∙ Built 1958 5 beds 3 baths ∙ 2,630 Sqft ∙ Built 1958
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,300
    • $2.40
    •  
PROPERTY LISTING DETAILS
Robert R. Bredel
Dwell Realtors, Inc.
BESbswy