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667 Palm Ave South San Francisco, CA 94080

3 Beds 3 Baths 1,910 sqft Built 1955

$1,288,000

List Price

$4,320

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $674.35
  • 2 Days on Market
  • MLS # : ML81819335
  • Updated Date : 11/07/2020 at 15:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,910 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Palo Alto

Listing Agent's Description

This Custom home with 2 Master Suites. Upstairs Specious Master Suites is huge and with balcony. Bright natural lights Living room, Family room, Dining room and Kitchen. 2 Fire place living room and Family room. Serene and Flat Back yard with lots of Fruits Trees perfect for a Families. Formal Dining room can be easily converted to a 4th bed room. County record shows 4 bed room 3 bath. Easy access HWY 101, 280. Restaurants, Bank, City Hall, Shops,, Must See!

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: Parkway Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $392k1383k

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

Neighborhood: Parkway Terrace

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $17464566

* 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
Spruce Elementary School Primary Regular 652 29 3
Parkway Heights Middle School Middle Regular 628 28 4
South San Francisco High School High Regular 1,403 58 6

Spruce Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 29
3
GreatSchools Rating

Parkway Heights Middle School

  • Education Level: Middle
  • # of students: 628
  • # of teachers: 28
4
GreatSchools Rating

South San Francisco High School

  • Education Level: High
  • # of students: 1,403
  • # of teachers: 58
6
GreatSchools Rating
 

$1,159,200$1,416,800$1,288,000

PURCHASE PRICE

$3,888$4,752$4,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,320
EXPENSES Loan Payment -$4,752
Property Tax -$1,298
Property Insurance -$73
Property Management Fees -$168
CASH FLOW
-$1,972

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.

$1,288,000

PROJECTED PRICE

$4,320

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$347,070

INVESTMENT

$347,070

Down Payment
$322,000
Rehab Estimate
$5,750
Closing Costs
$19,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $322,000
Loan Amount $966,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$491

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
  • $4,565

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,0003$4,300
$4,300
RENT COMPS ANALYSIS
  • 667 Palm Ave South San Francisco, CA 1
    • 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 557 Serra Dr South San Francisco, CA 2
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1955
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.48
    •  
  • 2110 Valleywood Dr San Bruno, CA 3
    • 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 1958
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.30
    •  
PROPERTY LISTING DETAILS
Shin J Kim
Keller Williams Palo Alto
BESbswy