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73 Dorchester Dr Daly City, CA 94015

4 Beds 2 Baths 2,290 sqft Built 1952

INVESTimate

$1,399,000

List Price

$4,570

$4,320 - $4,820

Rent Est.

$1,552,051  ( +10.94%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1952
  • Price/Sqft : $610.92
  • 10 Days on Market
  • MLS # : ML81806526
  • Updated Date : 08/17/2020 at 15:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,290 sqft
  • Baths : 2 full
Listing Agent

Compass Sf

Listing Agent's Description

This gorgeous Westlake home has what everyone wants: space! With four bedrooms, two full bathrooms, a separate office/den, formal living room, family room, formal dining room and kitchen, there's room for everyone to find a place to work, Zoom, or just have some peace and quiet. This beautifully-maintained split-level home has been loved by the same family for over 50 years, and awaits new owners to enjoy all it has to offer, including the indoor-outdoor lifestyle with a massive walk-out deck located directly off the family room. Other highlights include a spacious garage, abundant closet space, newly landscaped front yard, and a walkable location that's just a short stroll to Westlake Shopping Mall, Thornton State Beach, and local favorite, Original Joe's Westlake.

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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: Westlake

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $344k1381k

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

Neighborhood: Westlake

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $16104566

* 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
Marjorie Helen Tobias School Primary Regular 401 16 8
Marjorie Helen Tobias School Middle Regular 401 16 8
Terra Nova High School High Regular 1,037 46 8

Marjorie Helen Tobias School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 16
8
GreatSchools Rating

Marjorie Helen Tobias School

  • Education Level: Middle
  • # of students: 401
  • # of teachers: 16
8
GreatSchools Rating

Terra Nova High School

  • Education Level: High
  • # of students: 1,037
  • # of teachers: 46
8
GreatSchools Rating
 

$1,259,100$1,538,900$1,399,000

PURCHASE PRICE

$4,113$5,027$4,570

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,570
EXPENSES Loan Payment -$5,162
Property Tax -$1,505
Property Insurance -$82
Property Management Fees -$178
CASH FLOW
-$2,357

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.

$1,399,000

PROJECTED PRICE

$4,570

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.94%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$376,485

INVESTMENT

$376,485

Down Payment
$349,750
Rehab Estimate
$5,750
Closing Costs
$20,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,750
Loan Amount $1,049,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$98

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,570

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $4,305

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$4,570
1$4,5702$4,950
$4,950
RENT COMPS ANALYSIS
  • 73 Dorchester Dr Daly City, 1
    • 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 1952 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $4,570
    • $2.00
    •  
  • 20 Westpark Dr Daly City, 2
    • 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 1962 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 1962
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $1.88
    •  
PROPERTY LISTING DETAILS
Mary Macpherson
Compass Sf
BESbswy