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648 Florence St Daly City, CA 94014

3 Beds 2 Baths 1,730 sqft Built 1953

$1,050,000

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $606.94
  • 4 Days on Market
  • MLS # : ML81825832
  • Updated Date : 01/15/2021 at 11:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,730 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This recently updated home shows pride of ownership. Beautiful kitchen, remodeled baths with hardwood floors, skylights and lots of natural light. The floor plan offers unique possibilities. Two bedrooms and one bath on the main floor, and downstairs has a living room with a bed and bath down.

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: Callan Heights

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $315k1381k

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

Neighborhood: Callan Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2160018002000220024002600280030003200340036003800400042004400Rent in $15644566

* 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
Susan B. Anthony Elementary School Primary Regular 548 22 4
Thomas R. Pollicita Middle School Middle Regular 696 29 4
Terra Nova High School High Regular 1,037 46 8

Susan B. Anthony Elementary School

  • Education Level: Primary
  • # of students: 548
  • # of teachers: 22
4
GreatSchools Rating

Thomas R. Pollicita Middle School

  • Education Level: Middle
  • # of students: 696
  • # of teachers: 29
4
GreatSchools Rating

Terra Nova High School

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

$945,000$1,155,000$1,050,000

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,200
EXPENSES Loan Payment -$3,647
Property Tax -$1,140
Property Insurance -$69
Property Management Fees -$164
CASH FLOW
-$819

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.

$1,050,000

PROJECTED PRICE

$4,200

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.98%
Appreciation Year (1-5) 12.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.18%
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

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$284,000

INVESTMENT

$284,000

Down Payment
$262,500
Rehab Estimate
$5,750
Closing Costs
$15,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,647

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $262,500
Loan Amount $787,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$14,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,200

    LIST RENT
  • $2.43

    LIST RENT PER SQFT
  • $4,435

    COMP ESTIMATED VALUE
  • $2.56

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,2003$4,3954$4,800
$4,800
RENT COMPS ANALYSIS
  • 648 Florence St Daly City, CA 2
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.43
    •  
  • 441 Saint Francis Daly City, CA 1
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1959 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1959
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.10
    •  
  • 154 Westdale Ave Daly City, CA 3
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1949 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1949
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,395
    • $2.59
    •  
  • 16 Westdale Daly City, CA 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1950
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.00
    •  
PROPERTY LISTING DETAILS
David Tapper
Coldwell Banker Realty
BESbswy