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405 Santa Clara Way San Mateo, CA 94403

4 Beds 4 Baths 2,404 sqft Built 1948

$1,899,000

List Price

$6,100

$5.9K - $6.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $789.93
  • 25 Days on Market
  • MLS # : ML81819999
  • Updated Date : 12/04/2020 at 17:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,404 sqft
  • Baths : 4 full
Listing Agent

Compass

Listing Agent's Description

A terrific find in San Mateo Village with $150,000 in additions and upgrades. This updated home welcomes you to discover its abundant light-filled rooms with open floor plan to accommodate a range of home desires. Entertain guests in the formal front living room w/ fireplace. Engage with friends in the family room while creating favorite recipes in the adjacent chef's kitchen w/ granite counters, gas Viking stove & generous cabinetry. Steps away, gather in the generous dining area. This level also offers an owners suite, second bedroom, guest bathroom w/ shower, and convenient laundry room. Upstairs you'll find the 2nd owners suite, walk-in closet and bathroom with shower and jetted tub. A spacious bonus room is ideal for office/study, yoga/exercise, or game room, and offers glass doors leading to an expansive front deck. Permitted ADU, w/ private entrance, kitchen & bath - perfect for au pair, in-laws, or income. Close proximity to Caltrain, 101, 280 & 92. http://www.405santaclara.com

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: 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
 

$1,709,100$2,088,900$1,899,000

PURCHASE PRICE

$5,490$6,710$6,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,100
EXPENSES Loan Payment -$7,006
Property Tax -$2,031
Property Insurance -$85
Property Management Fees -$238
CASH FLOW
-$3,261

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.

$1,899,000

PROJECTED PRICE

$6,100

PROJECTED RENT

0.32%

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$6.0M$7.0M$8.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$50k-$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$6.0M$7.0M$8.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$508,985

INVESTMENT

$508,985

Down Payment
$474,750
Rehab Estimate
$5,750
Closing Costs
$28,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$7,006

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $474,750
Loan Amount $1,424,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$110

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
  • $6,539

    COMP ESTIMATED VALUE
  • $2.72

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$6,0003$6,500
$6,500
RENT COMPS ANALYSIS
  • 405 Santa Clara Way San Mateo, CA 1
    • 4 beds 4 baths ∙ 2,404 Sqft ∙ Built 1948 4 beds 4 baths ∙ 2,404 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 347 Rolling Hills Ave San Mateo, CA 2
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1954 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1954
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.86
    •  
  • 409 W 20th Ave San Mateo, CA 3
    • 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 1947 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 1947
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,500
    • $2.58
    •  
PROPERTY LISTING DETAILS
Julie Flouty
Compass
BESbswy