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606 Magnolia Dr San Mateo, CA 94402

3 Beds 2 Baths 1,463 sqft Built 1946

$1,525,000

List Price

$4,660

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $1,042.38
  • 2 Days on Market
  • MLS # : ML81825173
  • Updated Date : 01/09/2021 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,463 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Picture perfect home, inside and out in the sought after Sunnybrae neighborhood just blocks from Park, amenities and easy access to Hwy 101 and 280. Newly designed front and rear landscaping allowing the ultimate of indoor-outdoor California living. Welcoming porch invite you inside the living room with fireplace and adjacent dining room with wainscot detail and both with hardwood floors and access to the front and rear yards. Updated kitchen with newer cabinetry, slate floor, Corian countertops and stainless steel appliances.In addition there is a large family room with cathedral ceilings, expansive windows and doors to the rear yard. Three bedrooms with two beds in a private wing off the living room and one bed upstairs perfect for home office or guest bed. Primary suite has two closets and remodeled bath. Separate mud room with laundry. Enchanting yard with built-in BBQ center, patio and lush landscaping including fruit trees. Excellent location and acclaimed Aragon High School.

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: Sunnybrae

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $392k1523k

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

Neighborhood: Sunnybrae

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q220002200240026002800300032003400360038004000420044004600Rent in $18934696

* 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
Sunnybrae Elementary School Primary Magnet 527 23 2
Borel Middle School Middle Magnet 958 43 6
Aragon High School High Regular 1,423 68 9

Sunnybrae Elementary School

  • Education Level: Primary
  • # of students: 527
  • # of teachers: 23
2
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
 

$1,372,500$1,677,500$1,525,000

PURCHASE PRICE

$4,194$5,126$4,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,660
EXPENSES Loan Payment -$5,297
Property Tax -$1,631
Property Insurance -$62
Property Management Fees -$182
CASH FLOW
-$2,512

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.

$1,525,000

PROJECTED PRICE

$4,660

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.4%
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$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$409,875

INVESTMENT

$409,875

Down Payment
$381,250
Rehab Estimate
$5,750
Closing Costs
$22,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$5,297

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $381,250
Loan Amount $1,143,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$72

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,660

    LIST RENT
  • $3.19

    LIST RENT PER SQFT
  • $4,656

    COMP ESTIMATED VALUE
  • $3.18

    COMP AVG. RENT PER SQFT
Comps Range
$4,150
1$4,1502$4,5003$4,6604$4,8005$4,990
$4,990
RENT COMPS ANALYSIS
  • 606 Magnolia Dr San Mateo, CA 3
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1946
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,660
    • $3.19
    •  
  • 1531 Dix St San Mateo, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $2.96
    •  
  • 1657 Wolf Dr San Mateo, CA 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.21
    •  
  • 1209 S Claremont St San Mateo, CA 4
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1949
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.38
    •  
  • 601 Maple St San Mateo, CA 5
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1948
    property image
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,990
    • $3.18
    •  
PROPERTY LISTING DETAILS
Judy Citron
Compass
BESbswy