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404 Inverness Dr Pacifica, CA 94044

4 Beds 2 Baths 1,440 sqft Built 1955

$998,000

List Price

$3,930

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $693.06
  • 4 Days on Market
  • MLS # : ML81819988
  • Updated Date : 11/14/2020 at 19:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,440 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Desirable Cape Cod style four bedroom- two bathroom home in prime Pacifica neighborhood w/ unobstructed picturesque ocean and sunset views. Enter into the living rm with adjacent dining area & updated kitchen w/ stainless steel appliances, and abundance of cabinetry. This leads to a beautifully landscaped 5800 sq. ft lot with expansive patio designed for entertaining while enjoying the open views offering relaxations & quintessential indoor/outdoor living. Two bedrooms and updated full bath completes the main lvl and upper lvl consists of two more bedrooms with ocean views and fully updated bath. Features: hardwood flooring, freshly painted interior, ample closet space & completely updated siding & insulation for energy efficiency completes this home's allure. Ideal location, minutes to HWY 1/ 280, Skyline Blvd. Ocean Beach, Pacifica restaurants, & located 15 minutes from SF for great commuting options. Irresistible value for a comfortable 4bdrm/2bth home in prime location w/ views!

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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
 

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

PURCHASE PRICE

$3,537$4,323$3,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,930
EXPENSES Loan Payment -$3,682
Property Tax -$1,113
Property Insurance -$62
Property Management Fees -$153
CASH FLOW
-$1,081

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

$3,930

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$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 65% 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

1.25

YEARS SAVED

$7,242

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
  • $4,237

    COMP ESTIMATED VALUE
  • $2.94

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2003$3,5704$3,6005$3,950
$3,950
RENT COMPS ANALYSIS
  • 404 Inverness Dr Pacifica, CA 1
    • 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 120 Simpson Dr Daly City, CA 2
    • 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 3
    • 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
    •  
  • 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
    •  
  • 3854 Howard Ct South San Francisco, CA 5
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1972
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.56
    •  
PROPERTY LISTING DETAILS
Lucy Goldenshteyn
Redfin
BESbswy