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339 N Claremont St San Mateo, CA 94401

3 Beds 1 Baths 1,240 sqft Built 1902

$1,125,000

List Price

$3,850

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1902
  • Price/Sqft : $907.26
  • 5 Days on Market
  • MLS # : ML81825539
  • Updated Date : 01/13/2021 at 05:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

CONTRACTORS SPECIAL! CIRCA 1902 BUNGALOW FIXER UPPER ON A HUGE 8,120 SQ. FT. LOT! WONDERFUL OPPORTUNITY TO REMODEL OR BUILD NEW! PLENTY OF ROOM FOR AN ADDITIONAL ADU. ENJOY THIS CENTRALLY LOCATED PROPERTY CLOSE TO VIBRANT DOWNTOWN SAN MATEO, CENTRAL PARK, JAPANESE GARDENS AND CALTRAIN. SOLD AS-IS

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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: Downtown San Mateo

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $344k1432k

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

Neighborhood: Downtown San Mateo

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $17164696

* 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
Highlands Elementary School Primary Regular 606 24 7
Borel Middle School Middle Magnet 958 43 6
San Mateo High School High Regular 1,555 76 7

Highlands Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 24
7
GreatSchools Rating

Borel Middle School

  • Education Level: Middle
  • # of students: 958
  • # of teachers: 43
6
GreatSchools Rating

San Mateo High School

  • Education Level: High
  • # of students: 1,555
  • # of teachers: 76
7
GreatSchools Rating
 

$1,012,500$1,237,500$1,125,000

PURCHASE PRICE

$3,465$4,235$3,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,850
EXPENSES Loan Payment -$3,908
Property Tax -$1,203
Property Insurance -$57
Property Management Fees -$150
CASH FLOW
-$1,468

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.

$1,125,000

PROJECTED PRICE

$3,850

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.4%
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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$303,875

INVESTMENT

$303,875

Down Payment
$281,250
Rehab Estimate
$5,750
Closing Costs
$16,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,908

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $281,250
Loan Amount $843,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,166

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
  • $4,183

    COMP ESTIMATED VALUE
  • $3.37

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,7503$4,0004$4,500
$4,500
RENT COMPS ANALYSIS
  • 339 N Claremont St San Mateo, CA 1
    • 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1902 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1902
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 451 Villa Ter San Mateo, CA 2
    • 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1908 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1908
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $3.35
    •  
  • 804 Morrell Burlingame, CA 3
    • 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1922
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $3.05
    •  
  • 1324 Edgehill Dr Burlingame, CA 4
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1912 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1912
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.72
    •  
PROPERTY LISTING DETAILS
Anthony Galli
Coldwell Banker Realty
BESbswy