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430 State St San Mateo, CA 94401

5 Beds 3 Baths 2,200 sqft Built 1925

$1,685,000

List Price

$5,300

$5.1K - $5.6K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1925
  • Price/Sqft : $765.91
  • 2 Days on Market
  • MLS # : ML81819404
  • Updated Date : 11/07/2020 at 17:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,200 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Bright and spacious! This home is classic and timeless midway between downtown Burlingame and downtown San Mateo. Freshly painted interiors and hardwood floors plus lighted ceiling fans, and a beautiful granite-finished kitchen are just some of the many highlights found throughout. The two-story floor plan offers ample space for today's work-from-home needs with 5 bedrooms and 3 full baths. The spacious and private rear yard invites fresh-air living and gardening, plus a large room attached to the garage offers potential for even more office space. Welcome Home!

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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: Downtown San Mateo

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $344k1432k

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

Neighborhood: Downtown San Mateo

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $17164696

* 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
San Mateo Park Elementary School Primary Magnet 453 19 3
Borel Middle School Middle Magnet 958 43 6
San Mateo High School High Regular 1,555 76 7

San Mateo Park Elementary School

  • Education Level: Primary
  • # of students: 453
  • # of teachers: 19
3
GreatSchools Rating

Borel Middle School

  • Education Level: Middle
  • # of students: 958
  • # of teachers: 43
6
GreatSchools Rating

San Mateo High School

  • Education Level: High
  • # of students: 1,555
  • # of teachers: 76
7
GreatSchools Rating
 

$1,516,500$1,853,500$1,685,000

PURCHASE PRICE

$4,770$5,830$5,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,300
EXPENSES Loan Payment -$6,217
Property Tax -$1,802
Property Insurance -$80
Property Management Fees -$207
CASH FLOW
-$3,006

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.

$1,685,000

PROJECTED PRICE

$5,300

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.4%
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$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M

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$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$452,275

INVESTMENT

$452,275

Down Payment
$421,250
Rehab Estimate
$5,750
Closing Costs
$25,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$6,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $421,250
Loan Amount $1,263,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$93

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
  • $5,801

    COMP ESTIMATED VALUE
  • $2.64

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,8503$5,5004$6,950
$6,950
RENT COMPS ANALYSIS
  • 430 State St San Mateo, CA 1
    • 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 1925 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 1925
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8 Lorton Ave Burlingame, CA 2
    • 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 1912 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 1912
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,850
    • $2.46
    •  
  • 1320 Lincoln Burlingame, CA 3
    • 4 beds 2 baths ∙ 2,440 Sqft ∙ Built 1930 4 beds 2 baths ∙ 2,440 Sqft ∙ Built 1930
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.25
    •  
  • 750 Edgewood Rd San Mateo, CA 4
    • 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 1927 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 1927
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,950
    • $3.20
    •  
PROPERTY LISTING DETAILS
Mark Johnson
Coldwell Banker Realty
BESbswy