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533 Hobart Ave San Mateo, CA 94402

3 Beds 2 Baths 1,810 sqft Built 1942

$1,898,000

List Price

$5,030

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1942
  • Price/Sqft : $1,048.62
  • 3 Days on Market
  • MLS # : ML81819156
  • Updated Date : 11/06/2020 at 19:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,810 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Home Sweet Home! This Charming home has been lovingly cared for by one owner for over 40 years! Located in a highly desirable San Mateo neighborhood it offers an exquisite Formal living room and Dining room. The Modern kitchen features a professional gas stove and double ovens with a super cozy breakfast nook, perfect for your morning java! First floor space offers two good size bedrooms and remodeled bath featuring an antique vanity with marble top! Upstairs Master en-suite has walk-in closet and stunning remodeled bath. Additional deck off Master suite adds additional space for just getting away and taking a break. Extra Large family room opens to professionally landscaped yard with outdoor kitchen for summer barbecues. Custom outdoor covered patio is perfect for year round entertaining or just relaxing. The bonus tuft shed is perfect for your extra office space or children's play house. Walking distance to top San Mateo Schools is a real bonus!. Make this one your New HOME!

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: Devereux Manor

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800k1900kPrice in $438k1902k

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

Neighborhood: Devereux Manor

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2220024002600280030003200340036003800400042004400460048005000Rent in $21875135

* 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
Baywood Elementary School Primary Regular 738 29 7
Borel Middle School Middle Magnet 958 43 6
Aragon High School High Regular 1,423 68 9

Baywood Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 29
7
GreatSchools Rating

Borel Middle School

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

Aragon High School

  • Education Level: High
  • # of students: 1,423
  • # of teachers: 68
9
GreatSchools Rating
 

$1,708,200$2,087,800$1,898,000

PURCHASE PRICE

$4,527$5,533$5,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,030
EXPENSES Loan Payment -$7,003
Property Tax -$2,030
Property Insurance -$71
Property Management Fees -$196
CASH FLOW
-$4,270

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.

$1,898,000

PROJECTED PRICE

$5,030

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$70k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$508,720

INVESTMENT

$508,720

Down Payment
$474,500
Rehab Estimate
$5,750
Closing Costs
$28,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,003

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $474,500
Loan Amount $1,423,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,030

    LIST RENT
  • $2.78

    LIST RENT PER SQFT
  • $5,149

    COMP ESTIMATED VALUE
  • $2.84

    COMP AVG. RENT PER SQFT
Comps Range
$4,600
1$4,6002$4,7503$5,0304$5,5005$5,900
$5,900
RENT COMPS ANALYSIS
  • 533 Hobart Ave San Mateo, CA 3
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1942
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,030
    • $2.78
    •  
  • 234 22nd Ave San Mateo, CA 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1937
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.79
    •  
  • 1715 Palm Ave San Mateo, CA 2
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1927
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.77
    •  
  • 2607 Mason Ln San Mateo, CA 4
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1951
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.94
    •  
  • 538 Maple St San Mateo, CA 5
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1947 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1947
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,900
    • $2.88
    •  
PROPERTY LISTING DETAILS
Thomas Huff
Coldwell Banker Realty
BESbswy