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407 Anita Dr Millbrae, CA 94030

4 Beds 2 Baths 1,750 sqft Built 1946

$1,695,000

List Price

$4,440

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $968.57
  • 3 Days on Market
  • MLS # : ML81825005
  • Updated Date : 01/09/2021 at 07:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,750 sqft
  • Baths : 2 full
Listing Agent

Vincent C. Scherba Real Estate

Listing Agent's Description

2-story home located west side in desirable Meadow Glen area near downtown within walking distance of schools and nearby park. Main floor has 3-bedrooms and 1-bath with large living room and dining area. Eat-in kitchen is good size with handmade cabinets and marble counters/table. Home may be larger than 1750SF as county records only show 3 bedrooms. Upstairs is an extra large master suite of over 400SF [approx.18'x23'] with double closets and its own bathroom and heating system - ideal for a home office. There is a wrap around rear yard with lots of trees, shrubs and rose bushes along with a spacious deck with retractable awning to relax.

SEE MORE

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: Meadow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700kPrice in $450k1739k

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

Neighborhood: Meadow Glen

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $18865135

* 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
Green Hills Elementary School Primary Regular 410 17 9
Taylor Middle School Middle Regular 881 40 7
Mills High School High Regular 1,214 56 9

Green Hills Elementary School

  • Education Level: Primary
  • # of students: 410
  • # of teachers: 17
9
GreatSchools Rating

Taylor Middle School

  • Education Level: Middle
  • # of students: 881
  • # of teachers: 40
7
GreatSchools Rating

Mills High School

  • Education Level: High
  • # of students: 1,214
  • # of teachers: 56
9
GreatSchools Rating
 

$1,525,500$1,864,500$1,695,000

PURCHASE PRICE

$3,996$4,884$4,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,440
EXPENSES Loan Payment -$5,887
Property Tax -$1,641
Property Insurance -$69
Property Management Fees -$173
CASH FLOW
-$3,330

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.

$1,695,000

PROJECTED PRICE

$4,440

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 9.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$454,925

INVESTMENT

$454,925

Down Payment
$423,750
Rehab Estimate
$5,750
Closing Costs
$25,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$5,887

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $423,750
Loan Amount $1,271,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$60

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,440

    LIST RENT
  • $2.54

    LIST RENT PER SQFT
  • $4,554

    COMP ESTIMATED VALUE
  • $2.6

    COMP AVG. RENT PER SQFT
Comps Range
$4,300
1$4,3002$4,4003$4,4004$4,4405$4,900
$4,900
RENT COMPS ANALYSIS
  • 407 Anita Dr Millbrae, CA 4
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 1946 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $4,440
    • $2.54
    •  
  • 261 Taylor Blvd Millbrae, CA 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1930
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.39
    •  
  • 1109 Fernwood Dr Millbrae, CA 2
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1956
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.66
    •  
  • 276 Elder Ave Millbrae, CA 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1929
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.59
    •  
  • 1340 Murchison Dr Millbrae, CA 5
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1961
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.77
    •  
PROPERTY LISTING DETAILS
Vincent C. Scherba
Vincent C. Scherba Real Estate
BESbswy