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71 La Prenda Millbrae, CA 94030

3 Beds 2 Baths 1,300 sqft Built 1948

$1,598,000

List Price

$4,120

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $1,229.23
  • 5 Days on Market
  • MLS # : ML81824797
  • Updated Date : 01/07/2021 at 13:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

Kw Peninsula Estates

Listing Agent's Description

Located in Millbrae's sought after Highlands neighborhood, this amazing one-story beauty features three spacious bedrooms, two luxuriously remodeled bathrooms, along with an open living room, dining and kitchen area. The kitchen has also been newly remodeled with stunning quartz counters, modern cabinets & stainless-steel appliances. The sunroom looking out into the serene backyard with mature fruit trees compliments the interior. Amazing location close to hiking trails, top-rated schools, shopping, Caltrain, BART and convenient freeway access makes this a commuters dream. Move-in ready!

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: Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $450k1895k

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

Neighborhood: Highlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2220024002600280030003200340036003800400042004400460048005000Rent in $20935135

* 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
Meadows Elementary School Primary Regular 424 17 7
Taylor Middle School Middle Regular 881 40 7
Mills High School High Regular 1,214 56 9

Meadows Elementary School

  • Education Level: Primary
  • # of students: 424
  • # of teachers: 17
7
GreatSchools Rating

Taylor Middle School

  • Education Level: Middle
  • # of students: 881
  • # of teachers: 40
7
GreatSchools Rating

Mills High School

  • Education Level: High
  • # of students: 1,214
  • # of teachers: 56
9
GreatSchools Rating
 

$1,438,200$1,757,800$1,598,000

PURCHASE PRICE

$3,708$4,532$4,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,120
EXPENSES Loan Payment -$5,550
Property Tax -$1,520
Property Insurance -$59
Property Management Fees -$161
CASH FLOW
-$3,169

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.

$1,598,000

PROJECTED PRICE

$4,120

PROJECTED RENT

0.26%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$429,220

INVESTMENT

$429,220

Down Payment
$399,500
Rehab Estimate
$5,750
Closing Costs
$23,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,550

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $399,500
Loan Amount $1,198,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$57

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,120

    LIST RENT
  • $3.17

    LIST RENT PER SQFT
  • $4,108

    COMP ESTIMATED VALUE
  • $3.16

    COMP AVG. RENT PER SQFT
Comps Range
$4,120
1$4,1202$4,4953$4,5004$4,6005$4,800
$4,800
RENT COMPS ANALYSIS
  • 71 La Prenda Millbrae, CA 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $4,120
    • $3.17
    •  
  • 1644 Marco Polo Way Burlingame, CA 2
    • 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1950
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $3.00
    •  
  • 1047 Pinehurst Ct Millbrae, CA 3
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1956
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.26
    •  
  • 1369 Ridgewood Dr Millbrae, CA 4
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1955
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.26
    •  
  • 930 Sequoia Ave Millbrae, CA 5
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1956
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.12
    •  
PROPERTY LISTING DETAILS
Disen Cai Re Group
Kw Peninsula Estates
BESbswy