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366 Mina Ln Pacifica, CA 94044

3 Beds 2 Baths 1,220 sqft Built 1955

$970,000

List Price

$3,740

$3.5K - $4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $795.08
  • 4 Days on Market
  • MLS # : ML81825779
  • Updated Date : 01/14/2021 at 15:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,220 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Amr

Listing Agent's Description

Great opportunity to own a turnkey property! This spacious home has a great interior and exterior. Huge lot with endless space/opportunity in the backyard. Being centrally located with great access to the main roads and highways makes maneuvering around town a BREEZE! Buyers to verify schools with the school district.

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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: Pacific Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $326k1381k

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

Neighborhood: Pacific Highlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2160018002000220024002600280030003200340036003800400042004400Rent in $15184566

* 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
 

$873,000$1,067,000$970,000

PURCHASE PRICE

$3,366$4,114$3,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,740
EXPENSES Loan Payment -$3,369
Property Tax -$1,082
Property Insurance -$57
Property Management Fees -$146
CASH FLOW
-$914

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.

$970,000

PROJECTED PRICE

$3,740

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.2%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$262,800

INVESTMENT

$262,800

Down Payment
$242,500
Rehab Estimate
$5,750
Closing Costs
$14,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,369

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $242,500
Loan Amount $727,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$8,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,740

    LIST RENT
  • $3.07

    LIST RENT PER SQFT
  • $3,797

    COMP ESTIMATED VALUE
  • $3.11

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,5703$3,6004$3,6005$3,740
$3,740
RENT COMPS ANALYSIS
  • 366 Mina Ln Pacifica, CA 5
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,740
    • $3.07
    •  
  • 120 Simpson Dr Daly City, CA 1
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1969
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.91
    •  
  • 621 Forest Lake Dr Pacifica, CA 2
    • 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1964
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,570
    • $3.22
    •  
  • 115 Paradise Dr Pacifica, CA 3
    • 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1967
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.24
    •  
  • 198 Canterbury Ave Daly City, CA 4
    • 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1967
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.08
    •  
PROPERTY LISTING DETAILS
Arjun Atwal
Realty One Group Amr
BESbswy