Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

295 Sterling Ave Pacifica, CA 94044

4 Beds 2 Baths 1,840 sqft Built 1964

$1,875,000

List Price

$5,240

$5K - $5.5K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $1,019.02
  • 5 Days on Market
  • MLS # : ML81825533
  • Updated Date : 01/14/2021 at 13:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,840 sqft
  • Baths : 2 full
Listing Agent

Compass Sf

Listing Agent's Description

Breathtaking views from the most desirable neighborhood on the coast, just two blocks above Linda Mar state beach. -- This custom Pedro Point home was built in 1964, with a master bedroom and upstairs Ocean View Room addition completed in 1991, and has had extensive upgrades from 2016-2020, including new floors, custom windows, rooftop deck, hot tub, and fully enclosed exterior fence. Floor to ceiling custom windows capture unobstructed ocean views from both the lower-level and upper-level family rooms, perfect for meditation, yoga, or your Home office. -- The Hot Tub in the backyard is the icing on the cake. -- The extra-large utility room below has a workbench and shelving for all of your tools, camping, surf gear, and excess storage. -- By far, the most desirable neighborhood in Pacifica, located just two blocks from the surf shop, coffee shop, taqueria, breakfast/burger joint, and grocery store. Surfing, hiking, fishing, running/biking trails are all within a few minutes' walk.

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: San Pedro Terrace by the Sea

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $356k1528k

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

Neighborhood: San Pedro Terrace by the Sea

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $16355256

* 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
Ocean Shore Elementary School Primary Regular 414 17 8
Ocean Shore Elementary School Middle Regular 414 17 8
Terra Nova High School High Regular 1,037 46 8

Ocean Shore Elementary School

  • Education Level: Primary
  • # of students: 414
  • # of teachers: 17
8
GreatSchools Rating

Ocean Shore Elementary School

  • Education Level: Middle
  • # of students: 414
  • # of teachers: 17
8
GreatSchools Rating

Terra Nova High School

  • Education Level: High
  • # of students: 1,037
  • # of teachers: 46
8
GreatSchools Rating
 

$1,687,500$2,062,500$1,875,000

PURCHASE PRICE

$4,716$5,764$5,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,240
EXPENSES Loan Payment -$6,513
Property Tax -$2,098
Property Insurance -$72
Property Management Fees -$204
CASH FLOW
-$3,646

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.

$1,875,000

PROJECTED PRICE

$5,240

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

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$7.0M

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$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$502,625

INVESTMENT

$502,625

Down Payment
$468,750
Rehab Estimate
$5,750
Closing Costs
$28,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,513

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $468,750
Loan Amount $1,406,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$67

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
  • $4,894

    COMP ESTIMATED VALUE
  • $2.66

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,9953$4,3504$4,750
$4,750
RENT COMPS ANALYSIS
  • 295 Sterling Ave Pacifica, CA 1
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1651 Rosita Rd Pacifica, CA 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1955
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.47
    •  
  • 952 Anza Dr Pacifica, CA 3
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1954
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $2.65
    •  
  • 343 Reichling Ave Pacifica, CA 4
    • 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 1966
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.86
    •  
PROPERTY LISTING DETAILS
Nathan Gustavson
Compass Sf
BESbswy