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3606 Bassett Ct South San Francisco, CA 94080

3 Beds 3 Baths 1,780 sqft Built 1970

$1,198,000

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $673.03
  • 7 Days on Market
  • MLS # : ML81824499
  • Updated Date : 01/05/2021 at 11:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Numerous updates, great location, and iconic views its all here at this attached single-family home tucked away at the end of a cul-de-sac. The floor plan is open and spacious with beautiful engineered wood floors on the main level, a flexible layout for living, dining, and todays office needs, including a large family room, plus an open, granite-finished gourmet kitchen with stainless steel appliances. The homes 3 bedrooms are privately located upstairs, including the primary suite and two bedrooms that look out to the iconic hillside with the historic South San Francisco sign. Adding to the appeal of this lovely home is an attached 2-car garage with direct access to the home plus a private rear yard with plenty of room for play and/or gardening. Plus, with Westborough shops and restaurants and Highway 280 access less than one mile away, this is a wonderfully convenient place to call home.

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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: Westborough

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $392k1381k

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

Neighborhood: Westborough

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $17464566

* 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
Monte Verde Elementary School Primary Regular 551 22 9
Westborough Middle School Middle Regular 640 29 8
South San Francisco High School High Regular 1,403 58 6

Monte Verde Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 22
9
GreatSchools Rating

Westborough Middle School

  • Education Level: Middle
  • # of students: 640
  • # of teachers: 29
8
GreatSchools Rating

South San Francisco High School

  • Education Level: High
  • # of students: 1,403
  • # of teachers: 58
6
GreatSchools Rating
 

$1,078,200$1,317,800$1,198,000

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,200
EXPENSES Loan Payment -$4,161
Property Tax -$1,225
Property Insurance -$70
Property Management Fees -$164
CASH FLOW
-$1,420

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.

$1,198,000

PROJECTED PRICE

$4,200

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.2%
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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,220

INVESTMENT

$323,220

Down Payment
$299,500
Rehab Estimate
$5,750
Closing Costs
$17,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,161

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,500
Loan Amount $898,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,883

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,200

    LIST RENT
  • $2.36

    LIST RENT PER SQFT
  • $4,628

    COMP ESTIMATED VALUE
  • $2.6

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$4,0003$4,2004$4,5005$4,995
$4,995
RENT COMPS ANALYSIS
  • 3606 Bassett Ct South San Francisco, CA 3
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.36
    •  
  • 3091 Medina Dr San Bruno, CA 1
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1963
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.64
    •  
  • 557 Serra Dr South San Francisco, CA 2
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1955
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.48
    •  
  • 3601 Fleetwood Dr San Bruno, CA 4
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1964
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.73
    •  
  • 3850 Madera Way San Bruno, CA 5
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1959
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $2.55
    •  
PROPERTY LISTING DETAILS
Cameron Thompson
Coldwell Banker Realty
BESbswy