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443 Oconnor St Menlo Park, CA 94025

4 Beds 4 Baths 2,225 sqft Built 1964

$1,988,000

List Price

$7,270

$7K - $7.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $893.48
  • 2 Days on Market
  • MLS # : ML81818271
  • Updated Date : 11/02/2020 at 09:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,225 sqft
  • Baths : 4 full
Listing Agent

Deleon Realty

Listing Agent's Description

Boasting a great location that puts you close to Stanford University, Facebook, and both downtown Menlo Park and Palo Alto, this beautiful contemporary home offers 4 bedrooms, 4 bathrooms, and 2,225 square feet of living space, plus 430 square feet of beautiful bonus space, all set on a lot of 7,950 square feet. Stylish appointments are everywhere you turn, including shining wood floors, crown molding, and plantation shutters, while abundant natural light crafts a bright, airy ambiance. Expansive gathering spaces include the living room centered by a fireplace, the kitchen with granite countertops and stainless-steel appliances, and the dining room that opens to the grounds of the home. Enjoy the convenience of three en suite bedrooms, two of which with their own outside entrances. And entertain guests with ease in the peaceful backyard featuring a lawn and patio space. Within walking distance of beautiful Willow Oaks Park, this home is also convenient to US 101 for Bay Area commuting.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000kPrice in $450k2199k

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2200025003000350040004500500055006000Rent in $19136248

* 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
Willow Oaks Elementary School Primary Regular 705 28 1
Willow Oaks Elementary School Middle Regular 705 28 1
Menlo-atherton High School High Regular 2,158 112 8

Willow Oaks Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 28
1
GreatSchools Rating

Willow Oaks Elementary School

  • Education Level: Middle
  • # of students: 705
  • # of teachers: 28
1
GreatSchools Rating

Menlo-atherton High School

  • Education Level: High
  • # of students: 2,158
  • # of teachers: 112
8
GreatSchools Rating
 

$1,789,200$2,186,800$1,988,000

PURCHASE PRICE

$6,543$7,997$7,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $7,270
EXPENSES Loan Payment -$7,335
Property Tax -$2,001
Property Insurance -$81
Property Management Fees -$284
CASH FLOW
-$2,430

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.

$1,988,000

PROJECTED PRICE

$7,270

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 9.0%
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$10k$20k$30k

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$532,570

INVESTMENT

$532,570

Down Payment
$497,000
Rehab Estimate
$5,750
Closing Costs
$29,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,335

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $497,000
Loan Amount $1,491,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$6,200

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
  • $7,862

    COMP ESTIMATED VALUE
  • $3.53

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7,5003$8,5004$8,800
$8,800
RENT COMPS ANALYSIS
  • 443 Oconnor St Menlo Park, CA 1
    • 4 beds 4 baths ∙ 2,225 Sqft ∙ Built 1964 4 beds 4 baths ∙ 2,225 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 755 Northampton Dr Palo Alto, CA 2
    • 5 beds 3 baths ∙ 2,395 Sqft ∙ Built 1948 5 beds 3 baths ∙ 2,395 Sqft ∙ Built 1948
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,500
    • $3.13
    •  
  • 300 Sherwood Way Menlo Park, CA 3
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 1953 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 1953
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $8,500
    • $3.71
    •  
  • 1530 University Ave Palo Alto, CA 4
    • 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 1962
    LEASED 05/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $8,800
    • $3.76
    •  
PROPERTY LISTING DETAILS
Deleon Team
Deleon Realty
BESbswy