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55 Darcy Ave San Mateo, CA 94403

4 Beds 3 Baths 2,188 sqft Built 1942

$1,788,000

List Price

$4,410

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1942
  • Price/Sqft : $817.18
  • 5 Days on Market
  • MLS # : ML81819940
  • Updated Date : 11/13/2020 at 12:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,188 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes And Gardens Real Estate Jff

Listing Agent's Description

Tastefully remodeled contemporary style home with open layout and high ceilings in desirable�Westwood Knolls neighborhood. Over 1,000 square feet of new addition makes this home a must see! This spacious open concept home offers a formal living room, a dining area that opens to the modern kitchen with a large island and spacious family room that offers plenty of natural light! In addition, a 200+�square feet bonus loft can be used as a game room or for entertaining. This home features engineered hardwood floors, designer tiles, new double pane windows, tankless water heater, new roof, EV plug, upgraded electrical, new plumbing and much more. Close proximity to 101, Trader Joe's, Caltrain Station, restaurants and shops at the newly revamped Hillsdale Mall.

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: Westwood Knolls

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $438k1630k

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

Neighborhood: Westwood Knolls

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2220024002600280030003200340036003800400042004400460048005000Rent in $21575135

* 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
Laurel Elementary School Primary Regular 517 23 4
Abbott Middle School Middle Magnet 802 38 5

Laurel Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 23
4
GreatSchools Rating

Abbott Middle School

  • Education Level: Middle
  • # of students: 802
  • # of teachers: 38
5
GreatSchools Rating
 

$1,609,200$1,966,800$1,788,000

PURCHASE PRICE

$3,969$4,851$4,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,410
EXPENSES Loan Payment -$6,597
Property Tax -$1,913
Property Insurance -$80
Property Management Fees -$172
CASH FLOW
-$4,351

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.

$1,788,000

PROJECTED PRICE

$4,410

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 9.5%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$479,570

INVESTMENT

$479,570

Down Payment
$447,000
Rehab Estimate
$5,750
Closing Costs
$26,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,597

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $447,000
Loan Amount $1,341,000
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$249

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
  • $6,077

    COMP ESTIMATED VALUE
  • $2.78

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,5003$5,5004$6,0005$6,000
$6,000
RENT COMPS ANALYSIS
  • 55 Darcy Ave San Mateo, CA 1
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1942 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1942
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 237 42nd Ave San Mateo, CA 2
    • 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1955 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1955
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.43
    •  
  • 2607 Mason Ln San Mateo, CA 3
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1951
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.94
    •  
  • 704 27th Ave San Mateo, CA 4
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1948
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.88
    •  
  • 347 Rolling Hills Ave San Mateo, CA 5
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1954 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1954
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.86
    •  
PROPERTY LISTING DETAILS
Mike Danao
Better Homes And Gardens Real Estate Jff
BESbswy