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390 Heathcliff Dr Pacifica, CA 94044

3 Beds 2 Baths 1,220 sqft Built 1955

$998,000

List Price

$3,640

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $818.03
  • 2 Days on Market
  • MLS # : ML81818455
  • Updated Date : 11/02/2020 at 09:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,220 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Step into this absolutly charming remodeled home to find a large spacious living dining room, kitchen with quartz countertops, new stainless appliances, gas range, 3 bedrooms, 2 fully remodeled baths, designer light fixtures thoughout, new hardwood floors, new carpeting, large backyard ready for your creative design and newly landscaped front. Close to Highway 1, 280 and 35. Easy commute to SF or the Peninsula. A must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,276$4,004$3,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,640
EXPENSES Loan Payment -$3,682
Property Tax -$1,113
Property Insurance -$57
Property Management Fees -$142
CASH FLOW
-$1,354

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.

$998,000

PROJECTED PRICE

$3,640

PROJECTED RENT

0.36%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,502

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,640

    LIST RENT
  • $2.98

    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$3,640
$3,640
RENT COMPS ANALYSIS
  • 390 Heathcliff Dr 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
    •  
    • $3,640
    • $2.98
    •  
  • 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
Lynnette Giusti
Compass
BESbswy