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59 Westfield Ave Daly City, CA 94015

4 Beds 3 Baths 1,610 sqft Built 1955

$1,200,000

List Price

$4,170

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $745.34
  • 4 Days on Market
  • MLS # : ML81817263
  • Updated Date : 11/01/2020 at 19:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,610 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Gorgeous remodeled Westlake Highlands home with 4 bedrooms and 3 bathrooms. Immaculate move-in condition! Open kitchen with beautiful cherry kitchen cabinets, stainless appliances and granite counters. Hardwood floors throughout. Upper/main level has 2 bedrooms and 1 bathroom. Downstairs has 2 bedrooms and 2 bathrooms plus a family/living room. Laundry appliances in garage. Fabulous 3-level, terraced backyard full of lovely flowers, apple trees and lemon trees that produce fruit year 'round. Newly added garden shed for extra storage. Close to Westlake for all of your shopping and dining pleasure, Lake Merced Golf Course, Civic Center, and Great Highway. Virtual Open Houses: Saturday, October 31, 1-4 pm and Sunday, November 1, 1-4 pm

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: Westlake

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $344k1381k

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

Neighborhood: Westlake

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $16104566

* 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
Marjorie Helen Tobias School Primary Regular 401 16 8
Marjorie Helen Tobias School Middle Regular 401 16 8
Terra Nova High School High Regular 1,037 46 8

Marjorie Helen Tobias School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 16
8
GreatSchools Rating

Marjorie Helen Tobias School

  • Education Level: Middle
  • # of students: 401
  • # of teachers: 16
8
GreatSchools Rating

Terra Nova High School

  • Education Level: High
  • # of students: 1,037
  • # of teachers: 46
8
GreatSchools Rating
 

$1,080,000$1,320,000$1,200,000

PURCHASE PRICE

$3,753$4,587$4,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,170
EXPENSES Loan Payment -$4,427
Property Tax -$1,291
Property Insurance -$66
Property Management Fees -$163
CASH FLOW
-$1,777

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.

$1,200,000

PROJECTED PRICE

$4,170

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.9%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,427

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $300,000
Loan Amount $900,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$680

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
  • $5,190

    COMP ESTIMATED VALUE
  • $3.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,2003$4,8004$4,800
$4,800
RENT COMPS ANALYSIS
  • 59 Westfield Ave Daly City, CA 1
    • 4 beds 3 baths ∙ 1,610 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,610 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 59 Southdale Ave Daly City, CA 2
    • 4 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.31
    •  
  • 1351 Southgate Ave Daly City, CA 3
    • 5 beds 3 baths ∙ 1,430 Sqft ∙ Built 1959 5 beds 3 baths ∙ 1,430 Sqft ∙ Built 1959
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.36
    •  
  • 16 Westdale Daly City, CA 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1950
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.00
    •  
PROPERTY LISTING DETAILS
Angie Xiao
Intero Real Estate Services
BESbswy