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387 Cedar St San Carlos, CA 94070

2 Beds 1 Baths 1,360 sqft Built 1950

$1,399,888

List Price

$4,310

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $1,029.33
  • 7 Days on Market
  • MLS # : ML81820547
  • Updated Date : 11/19/2020 at 14:48
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,360 sqft
  • Baths : 1 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Distinctively Designed Home with Living Space over the Two Car Garage. Formal Living Room and Bay Window Alcove for the Dining Area. Adjoining Kitchen with warm oak cabinets and tile counters. New appliances are on order. 2 good sized Bedrooms with plenty of closet space. Updated full Bathroom with unique claw foot tub, new shower plumbing over the tub, new commode. Expansive Family Room offers endless potential! Could be 3rd Primary Bedroom or perfect for working from home, home schooling, relaxing...offering space when sheltering at home. Side deck and rear side patio nicely extend the living area. Large rear yard is just awaiting your green thumb. Newly refinished hardwood floors, new interior paint, new interior ceiling lights. Nestled in a popular San Carlos Neighborhood, just moments away from charming downtown, restaurants, shopping, adult community center, library, transportation. Truly the only thing missing is you!

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: Cordes

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $450k1852k

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

Neighborhood: Cordes

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $17345455

* 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
Arundel Elementary School Primary Charter 513 23 9
Tierra Linda Middle School Middle Charter 639 29 9
Carlmont High School High Regular 2,183 107 9

Arundel Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 23
9
GreatSchools Rating

Tierra Linda Middle School

  • Education Level: Middle
  • # of students: 639
  • # of teachers: 29
9
GreatSchools Rating

Carlmont High School

  • Education Level: High
  • # of students: 2,183
  • # of teachers: 107
9
GreatSchools Rating
 

$1,259,899$1,539,877$1,399,888

PURCHASE PRICE

$3,879$4,741$4,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,310
EXPENSES Loan Payment -$5,165
Property Tax -$1,508
Property Insurance -$60
Property Management Fees -$168
CASH FLOW
-$2,591

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.

$1,399,888

PROJECTED PRICE

$4,310

PROJECTED RENT

0.31%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$376,720

INVESTMENT

$376,720

Down Payment
$349,972
Rehab Estimate
$5,750
Closing Costs
$20,998

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,165

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,972
Loan Amount $1,049,916
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$20

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
  • $4,828

    COMP ESTIMATED VALUE
  • $3.55

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,9953$4,2954$4,375
$4,375
RENT COMPS ANALYSIS
  • 387 Cedar St San Carlos, CA 1
    • 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1950 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1730 Robin Whipple Belmont, CA 2
    • 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $3.63
    •  
  • 1415 Greenwood Ave San Carlos, CA 3
    • 2 beds 1 baths ∙ 1,240 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,240 Sqft ∙ Built 1947
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,295
    • $3.46
    •  
  • 1117 Cedar St San Carlos, CA 4
    • 2 beds 1 baths ∙ 1,230 Sqft ∙ Built 1945 2 beds 1 baths ∙ 1,230 Sqft ∙ Built 1945
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,375
    • $3.56
    •  
PROPERTY LISTING DETAILS
David Blewett
Intero Real Estate Services
BESbswy