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360 Tampa Ct Foster City, CA 94404

4 Beds 3 Baths 2,360 sqft Built 1970

$1,798,000

List Price

$5,400

$5.2K - $5.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $761.86
  • 4 Days on Market
  • MLS # : ML81819086
  • Updated Date : 11/06/2020 at 13:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,360 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Spacious and terrific home with open-flow floor plan located in sought-after Dolphin Bay neighborhood! Excellent cul-de-sac location with wide, tranquil tree-lined streets. Home boasts impressive vaulted ceilings, freshly painted interior and new carpeting throughout. Light and bright living room, dining room, separate family room, and eat-in kitchen. Ideal tri-level living with three bedrooms, two baths upstairs, living, dining and kitchen at main level and family room, bedroom, bathroom, laundry and 2-car garage on lower level. Step outside to find a terrific lawn and patio area, perfect for warm relaxation or entertaining! Incredibly desirable location- close to top-rated schools, Boothbay Park, shopping and transportation. Incredible opportunity!

SEE MORE

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: Dolphin Bay

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $450k1819k

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

Neighborhood: Dolphin Bay

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2240026002800300032003400360038004000420044004600480050005200Rent in $23785283

* 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
Foster City Elementary School Primary Regular 900 36 10
Bowditch Middle School Middle Regular 998 43 9

Foster City Elementary School

  • Education Level: Primary
  • # of students: 900
  • # of teachers: 36
10
GreatSchools Rating

Bowditch Middle School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 43
9
GreatSchools Rating
 

$1,618,200$1,977,800$1,798,000

PURCHASE PRICE

$4,860$5,940$5,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,400
EXPENSES Loan Payment -$6,634
Property Tax -$1,674
Property Insurance -$84
Property Management Fees -$211
CASH FLOW
-$3,202

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.

$1,798,000

PROJECTED PRICE

$5,400

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 12.1%
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-$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$482,220

INVESTMENT

$482,220

Down Payment
$449,500
Rehab Estimate
$5,750
Closing Costs
$26,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,634

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $449,500
Loan Amount $1,348,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$92

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
  • $5,853

    COMP ESTIMATED VALUE
  • $2.48

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,3003$5,8004$5,8005$6,200
$6,200
RENT COMPS ANALYSIS
  • 360 Tampa Ct Foster City, CA 1
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 20 Lyme Ln Foster City, CA 2
    • 3 beds 4 baths ∙ 2,240 Sqft ∙ Built 1987 3 beds 4 baths ∙ 2,240 Sqft ∙ Built 1987
    LEASED 01/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,300
    • $2.37
    •  
  • 620 Waterbury Ln Foster City, CA 3
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1977
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,800
    • $2.59
    •  
  • 431 Boothbay Ave Foster City, CA 4
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1984
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,800
    • $2.46
    •  
  • 369 Bowfin St. Foster City, CA 5
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1975
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,200
    • $2.50
    •  
PROPERTY LISTING DETAILS
Marybeth Dorst
Compass
BESbswy