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682 Teal St Foster City, CA 94404

3 Beds 2 Baths 1,700 sqft Built 1965

INVESTimate

$1,649,888

List Price

$4,450

$4,200 - $4,700

Rent Est.

$1,836,490  ( +11.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $970.52
  • 6 Days on Market
  • MLS # : ML81806332
  • Updated Date : 08/25/2020 at 19:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Kw Peninsula Estates

Listing Agent's Description

Don't miss this Foster City gem! Beautifully updated & maintained ranch style home with low maintenance front and rear yard. Double-paned windows, updated kitchen, and bathrooms. The exterior has been recently painted and new pavers for the driveway & front walkway installed. Original solid hardwood floors thru-out much of the home just refinished for you. The breakfast room, kitchen, and adjoining informal entertaining area opens to the rear yard thru oversized sliding doors- this will be the heart of your home! Relax under the vine-covered pergola or enjoy the sun on the artificial lawn. The ensuite bedroom is a sun-filled haven for relaxation and sliding door access to the rear yard. Located one-half block from the Bay Trail, ideal for walking or biking, close proximity to Foster City's highly ranked elementary and middle schools. Ideally located with easy access to local parks, lagoon system, shopping, RT 92 & 101 leading to San Francisco, Silicon Valley, SFO, & the East Bay.

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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: Bay Vista

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $450k1687k

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

Neighborhood: Bay Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2240026002800300032003400360038004000420044004600480050005200Rent in $22875267

* 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
 

$1,484,899$1,814,877$1,649,888

PURCHASE PRICE

$4,005$4,895$4,450

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-$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 $4,450
EXPENSES Loan Payment -$6,087
Property Tax -$1,538
Property Insurance -$68
Property Management Fees -$174
CASH FLOW
-$3,417

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.

$1,649,888

PROJECTED PRICE

$4,450

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.31%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$442,970

INVESTMENT

$442,970

Down Payment
$412,472
Rehab Estimate
$5,750
Closing Costs
$24,748

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,087

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $412,472
Loan Amount $1,237,416
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$55

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,450

    LIST RENT
  • $2.62

    LIST RENT PER SQFT
  • $4,743

    COMP ESTIMATED VALUE
  • $2.79

    COMP AVG. RENT PER SQFT
Comps Range
$4,450
1$4,4502$5,0003$5,0004$5,4005$5,800
$5,800
RENT COMPS ANALYSIS
  • 682 Teal St Foster City, 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $2.62
    •  
  • 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
    •  
  • 1339 Marlin Ave Foster City, 3
    • 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 1969
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.59
    •  
  • 784 Vespucci Ln Foster City, 4
    • 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
    •  
  • 634 Greenwich Ln Foster City, 5
    • 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1977
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,800
    • $2.83
    •  
PROPERTY LISTING DETAILS
Jeanne Gallagher
Kw Peninsula Estates
BESbswy