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741 Foothill Dr San Mateo, CA 94402

3 Beds 2 Baths 2,030 sqft Built 1951

$1,995,000

List Price

$5,710

$5.5K - $6K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $982.76
  • 5 Days on Market
  • MLS # : ML81825549
  • Updated Date : 01/16/2021 at 16:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,030 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Located in the desirable west side Foothill Terrace neighborhood, this 3bd/2ba single level home offers great potential. The well positioned open family room and kitchen provide great indoor/outdoor entertaining ease. A separate studio is perfect for a home office, exercise room, or art studio. Amenities include a laundry room and 2 car attached garage. The residence is conveniently situated near San Mateo schools, Laurelwood and Hillsdale Shopping Centers, and highways 92, 101, and 280. Welcome home!

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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: Foothill Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000k2200kPrice in $438k2220k

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

Neighborhood: Foothill Terrace

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22500300035004000450050005500Rent in $21875633

* 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
Baywood Elementary School Primary Regular 738 29 7
Borel Middle School Middle Magnet 958 43 6
Aragon High School High Regular 1,423 68 9

Baywood Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 29
7
GreatSchools Rating

Borel Middle School

  • Education Level: Middle
  • # of students: 958
  • # of teachers: 43
6
GreatSchools Rating

Aragon High School

  • Education Level: High
  • # of students: 1,423
  • # of teachers: 68
9
GreatSchools Rating
 

$1,795,500$2,194,500$1,995,000

PURCHASE PRICE

$5,139$6,281$5,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,710
EXPENSES Loan Payment -$6,929
Property Tax -$2,134
Property Insurance -$76
Property Management Fees -$223
CASH FLOW
-$3,652

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.

$1,995,000

PROJECTED PRICE

$5,710

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.3%
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-$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$534,425

INVESTMENT

$534,425

Down Payment
$498,750
Rehab Estimate
$5,750
Closing Costs
$29,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,929

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $498,750
Loan Amount $1,496,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$26

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,710

    LIST RENT
  • $2.81

    LIST RENT PER SQFT
  • $5,714

    COMP ESTIMATED VALUE
  • $2.82

    COMP AVG. RENT PER SQFT
Comps Range
$4,800
1$4,8002$5,5003$5,7104$5,9005$6,000
$6,000
RENT COMPS ANALYSIS
  • 741 Foothill Dr San Mateo, CA 3
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $5,710
    • $2.81
    •  
  • 765 Sequoia Ave San Mateo, CA 1
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1950
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.62
    •  
  • 2607 Mason Ln San Mateo, CA 2
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1951
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.94
    •  
  • 704 27th Ave San Mateo, CA 4
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1948
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,900
    • $2.84
    •  
  • 670 Barneson Ave San Mateo, CA 5
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1951 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1951
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.86
    •  
PROPERTY LISTING DETAILS
Judy Hong Meuschke
Compass
BESbswy