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30 Westridge Ave Daly City, CA 94015

3 Beds 1 Baths 1,310 sqft Built 1955

$988,000

List Price

$3,570

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $754.20
  • 5 Days on Market
  • MLS # : ML81823949
  • Updated Date : 12/24/2020 at 16:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,310 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

The moment you enter the home, you're immediately captivated by the breathtaking views of the Pacific Ocean, scenic San Francisco hills & iconic Sutro Tower from the large bay window of the living & dining rms. A newly remodeled kitchen w/hardwood floors adds to the desirability of this mid century detached home in Westlake Highlands. 3 bedrooms along w/a split bathroom, including a separate shower stall & tub, completes the floor plan upstairs. Using the interior staircase to access the garage level, you'll be inspired with the vast amount of garage space! With enough room to park multiple cars in tandem, there's also space to potentially build a recreational room, office, gym or any kind of flex space. Other upgrades include refinished hardwood floors, new interior and exterior paint, new and updated electrical panel, and new landscaping. The back yard is easy to maintain with both a grass and a concrete area to enjoy. Convenient location to Westlake, Serramonte, and freeway access.

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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: Westlake

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $344k1381k

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

Neighborhood: Westlake

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $16104566

* 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
Marjorie Helen Tobias School Primary Regular 401 16 8
Marjorie Helen Tobias School Middle Regular 401 16 8
Terra Nova High School High Regular 1,037 46 8

Marjorie Helen Tobias School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 16
8
GreatSchools Rating

Marjorie Helen Tobias School

  • Education Level: Middle
  • # of students: 401
  • # of teachers: 16
8
GreatSchools Rating

Terra Nova High School

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

$889,200$1,086,800$988,000

PURCHASE PRICE

$3,213$3,927$3,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,570
EXPENSES Loan Payment -$3,645
Property Tax -$1,063
Property Insurance -$59
Property Management Fees -$139
CASH FLOW
-$1,336

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.

$988,000

PROJECTED PRICE

$3,570

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.9%
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-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$267,570

INVESTMENT

$267,570

Down Payment
$247,000
Rehab Estimate
$5,750
Closing Costs
$14,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,645

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $247,000
Loan Amount $741,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,535

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,570

    LIST RENT
  • $2.73

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,570
1$3,570
$3,570
RENT COMPS ANALYSIS
  • 30 Westridge Ave Daly City, CA
    • 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,570
    • $2.73
    •  
PROPERTY LISTING DETAILS
Samantha Competente
Compass
BESbswy