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3932 Martin Dr San Mateo, CA 94403

3 Beds 2 Baths 1,600 sqft Built 1950

$1,299,000

List Price

$4,730

$4.5K - $5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1950
  • Price/Sqft : $811.88
  • 4 Days on Market
  • MLS # : ML81818953
  • Updated Date : 11/07/2020 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Kw Peninsula Estates

Listing Agent's Description

On a quiet street in the esteemed San Mateo Village, you'll come across this lovely 3 bed/2 bath ranch-style home. A sense of comfort accompanies you throughout all 1600 sq ft of freshly painted living space. The bright, spacious living room centers around a covered stone fireplace and naturally flows into a charming family room. A classic dutch door grants access to the distinguished eat-in kitchen with crisp, white cabinetry, unique tiled backsplash/countertops, and a picture window providing garden views. Turn down the hall to find 2 well-lit bedrooms, 1 bath, and a generous owners suite. Slide open the family rooms glass doors for views of a beautifully landscaped backyard. A large, covered patio and manicured lawn make it the ideal spot for entertaining and al fresco dining. Appreciate a remarkably convenient location near Whole Foods, Hillsdale Shopping Center, and HWY 101. Spend peaceful days exploring the numerous parks and their amenities in the surrounding area.

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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: San Mateo Village

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $406k1528k

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

Neighborhood: San Mateo Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $18395135

* 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
George Hall Elementary School Primary Magnet 456 20 6
Abbott Middle School Middle Magnet 802 38 5

George Hall Elementary School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 20
6
GreatSchools Rating

Abbott Middle School

  • Education Level: Middle
  • # of students: 802
  • # of teachers: 38
5
GreatSchools Rating
 

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$4,257$5,203$4,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,730
EXPENSES Loan Payment -$4,793
Property Tax -$1,417
Property Insurance -$66
Property Management Fees -$184
CASH FLOW
-$1,730

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.

$1,299,000

PROJECTED PRICE

$4,730

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 13.8%
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-$30k-$20k-$10k$0.0$10k

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$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,894

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,730

    LIST RENT
  • $2.96

    LIST RENT PER SQFT
  • $5,152

    COMP ESTIMATED VALUE
  • $3.22

    COMP AVG. RENT PER SQFT
Comps Range
$4,100
1$4,1002$4,5003$4,7304$4,9755$5,000
$5,000
RENT COMPS ANALYSIS
  • 3932 Martin Dr San Mateo, CA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $4,730
    • $2.96
    •  
  • 158 Mclellan Ave San Mateo, CA 1
    • 3 beds 1 baths ∙ 1,460 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,460 Sqft ∙ Built 1949
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.81
    •  
  • 1510 Williams Ave Belmont, CA 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.33
    •  
  • 10 Eastwood Dr San Mateo, CA 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1951
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,975
    • $3.19
    •  
  • 3610 Branson Dr San Mateo, CA 5
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1949
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $3.55
    •  
PROPERTY LISTING DETAILS
Christine Steel
Kw Peninsula Estates
BESbswy