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680 Catamaran St Foster City, CA 94404

3 Beds 2 Baths 1,810 sqft Built 1981

INVESTimate

$1,800,000

List Price

$4,880

$4,630 - $5,130

Rent Est.

$2,007,180  ( +11.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $994.48
  • 6 Days on Market
  • MLS # : ML81806819
  • Updated Date : 08/25/2020 at 08:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,810 sqft
  • Baths : 2 full
Listing Agent

Wrigley Real Estate

Listing Agent's Description

Enjoy living in Foster City, near fine schools, parks, shopping, and easy freeway access. Terrific location on a large, 5,900sf lot. 1 story home, spacious (1,810sf) open floorplan with tall ceilings. Light and airy, centered around a lovely atrium. Energy efficient with solar power, ceiling fans, and dual pane windows. The formal entry leads to a spacious Living Room with tall ceilings, large windows, and handsome fireplace. Entertain in the Dining Room overlooking the front yard. Fully equipped eat-in Kitchen with breakfast bar. Relax in the Family Room with tall ceilings, casual dining area, and sliding glass door to the rear patio and yard. 3 Bedrooms and 2 Bathrooms, including a large Master Suite with tall ceilings, remodeled bathroom, walk-in closet, and sliding glass door to the rear yard. 2 car Garage, with washer, dryer, storage closets, workbench, and loads of storage. Nicely landscaped front and rear with mature landscaping, sprinkler system, and patio.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Catamaran Estates

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000kPrice in $450k2073k

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

Neighborhood: Catamaran Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22500300035004000450050005500Rent in $24515831

* 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
Audubon Elementary School Primary Regular 688 27 7
Bowditch Middle School Middle Regular 998 43 9
San Mateo High School High Regular 1,555 76 7

Audubon Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 27
7
GreatSchools Rating

Bowditch Middle School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 43
9
GreatSchools Rating

San Mateo High School

  • Education Level: High
  • # of students: 1,555
  • # of teachers: 76
7
GreatSchools Rating
 

$1,620,000$1,980,000$1,800,000

PURCHASE PRICE

$4,392$5,368$4,880

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,880
EXPENSES Loan Payment -$6,641
Property Tax -$1,678
Property Insurance -$71
Property Management Fees -$190
CASH FLOW
-$3,700

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.

$1,800,000

PROJECTED PRICE

$4,880

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.51%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$482,750

INVESTMENT

$482,750

Down Payment
$450,000
Rehab Estimate
$5,750
Closing Costs
$27,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,641

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $450,000
Loan Amount $1,350,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$59

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,880

    LIST RENT
  • $2.7

    LIST RENT PER SQFT
  • $5,217

    COMP ESTIMATED VALUE
  • $2.88

    COMP AVG. RENT PER SQFT
Comps Range
$4,880
1$4,8802$5,0003$5,4004$5,5005$6,025
$6,025
RENT COMPS ANALYSIS
  • 680 Catamaran St Foster City, 1
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $4,880
    • $2.70
    •  
  • 888 Lurline Dr Foster City, 2
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1964
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.94
    •  
  • 784 Vespucci Ln Foster City, 3
    • 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 1977
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,400
    • $2.80
    •  
  • 604 San Nicholas Ln Foster City, 4
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1977
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.93
    •  
  • 760 Coronado Ln Foster City, 5
    • 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 1977
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,025
    • $2.86
    •  
PROPERTY LISTING DETAILS
Robin Wrigley
Wrigley Real Estate
BESbswy