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503 Roxbury Way Belmont, CA 94002

3 Beds 2 Baths 1,200 sqft Built 1953

$1,498,000

List Price

$3,830

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $1,248.33
  • 3 Days on Market
  • MLS # : ML81820290
  • Updated Date : 11/14/2020 at 10:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Located in Belmont's coveted Sterling Downs neighborhood on a premium street, this lovely home offers a flexible floorplan with three bedrooms plus a family room (currently used as the primary suite) and two full bathrooms. The living room, dining room and bedrooms boast beautiful recently installed laminate flooring. The kitchen features granite counters and stainless-steel appliances. The spacious backyard has patios, a separate structure that can be used for storage/playroom/Zoom room, plus two additional storage sheds. Additional amenities include a 2-car garage with electric opener, central heat and air conditioning, tankless water heater. Enjoy Belmont's highly acclaimed schools, fabulous restaurants & shopping. Caltrain, Highway 101, & SamTrans are located nearby. Move-in ready, just call the movers.

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: Sterling Downs

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700kPrice in $433k1769k

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

Neighborhood: Sterling Downs

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $13765147

* 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
Ralston Middle School Middle Regular 1,130 49 9
Carlmont High School High Regular 2,183 107 9

Ralston Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 49
9
GreatSchools Rating

Carlmont High School

  • Education Level: High
  • # of students: 2,183
  • # of teachers: 107
9
GreatSchools Rating
 

$1,348,200$1,647,800$1,498,000

PURCHASE PRICE

$3,447$4,213$3,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,830
EXPENSES Loan Payment -$5,527
Property Tax -$1,668
Property Insurance -$56
Property Management Fees -$149
CASH FLOW
-$3,570

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.

$1,498,000

PROJECTED PRICE

$3,830

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 9.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$402,720

INVESTMENT

$402,720

Down Payment
$374,500
Rehab Estimate
$5,750
Closing Costs
$22,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $374,500
Loan Amount $1,123,500
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$187

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,830

    LIST RENT
  • $3.19

    LIST RENT PER SQFT
  • $3,843

    COMP ESTIMATED VALUE
  • $3.2

    COMP AVG. RENT PER SQFT
Comps Range
$3,830
1$3,8302$3,9503$4,3004$4,5005$4,650
$4,650
RENT COMPS ANALYSIS
  • 503 Roxbury Way Belmont, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $3,830
    • $3.19
    •  
  • 100 Virginia Ave Belmont, CA 2
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1953
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.99
    •  
  • 1515 Solana Dr Belmont, CA 3
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1955
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $3.33
    •  
  • 1510 Williams Ave Belmont, CA 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.33
    •  
  • 264 Boothbay Ave Foster City, CA 5
    • 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1971
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,650
    • $3.16
    •  
PROPERTY LISTING DETAILS
Holly Noto
Coldwell Banker Realty
BESbswy