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702 Crossway Rd Burlingame, CA 94010

3 Beds 2 Baths 1,360 sqft Built 1949

$1,850,000

List Price

$4,400

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1949
  • Price/Sqft : $1,360.29
  • 6 Days on Market
  • MLS # : ML81817936
  • Updated Date : 11/02/2020 at 08:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,360 sqft
  • Baths : 1 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Enjoy the very best of Burlingame living in this absolutely lovely home. The single-level design has an inviting flow and features open floor plan and an abundance of windows that fill the home with light and offer views of the lush wrap around garden setting. Great indoor/outdoor dynamics with entertainment or relaxation deck, updated chefs kitchen, extra bonus family room and office or zoom room and all enhance the ambiance. Large level lot with beautiful mature foliage and verdant canopied trees. This sensational neighborhood is conveniently located close to Downtown Burlingame, Access to exceptional schools, recreation, transportation, CalTrain, shopping, dining and commute routes to Silicon Valley and SF. MUST SEE! DO NOT MISS THIS OPPORTUNITY!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Burlingame Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000k2200kPrice in $450k2244k

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

Neighborhood: Burlingame Terrace

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2250030003500400045005000550060006500Rent in $24556933

* 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
Mckinley Elementary School Primary Regular 522 23 8
Burlingame Intermediate School Middle Regular 1,004 46 9
Burlingame High School High Regular 1,316 64 10

Mckinley Elementary School

  • Education Level: Primary
  • # of students: 522
  • # of teachers: 23
8
GreatSchools Rating

Burlingame Intermediate School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 46
9
GreatSchools Rating

Burlingame High School

  • Education Level: High
  • # of students: 1,316
  • # of teachers: 64
10
GreatSchools Rating
 

$1,665,000$2,035,000$1,850,000

PURCHASE PRICE

$3,960$4,840$4,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,400
EXPENSES Loan Payment -$6,826
Property Tax -$1,802
Property Insurance -$60
Property Management Fees -$172
CASH FLOW
-$4,460

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.

$1,850,000

PROJECTED PRICE

$4,400

PROJECTED RENT

0.24%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
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$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$70k-$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$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$496,000

INVESTMENT

$496,000

Down Payment
$462,500
Rehab Estimate
$5,750
Closing Costs
$27,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$6,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $462,500
Loan Amount $1,387,500
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,400

    LIST RENT
  • $3.24

    LIST RENT PER SQFT
  • $4,386

    COMP ESTIMATED VALUE
  • $3.23

    COMP AVG. RENT PER SQFT
Comps Range
$3,550
1$3,5502$4,3003$4,4004$4,4005$4,695
$4,695
RENT COMPS ANALYSIS
  • 702 Crossway Rd Burlingame, CA 4
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $3.24
    •  
  • 523 N Idaho St San Mateo, CA 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1944
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $2.91
    •  
  • 1411 Cabrillo Ave Burlingame, CA 2
    • 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1950
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $3.44
    •  
  • 410 E Ellsworth Ct San Mateo, CA 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1942
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $3.14
    •  
  • 711 Neuchatel Ave Burlingame, CA 5
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1947
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,695
    • $3.41
    •  
PROPERTY LISTING DETAILS
The Patty Dwyer Group
Compass
BESbswy