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815 Avenue Balboa El Granada, CA 94018

3 Beds 3 Baths 1,900 sqft Built 1989

INVESTimate

$1,399,000

List Price

$4,340

$4,090 - $4,590

Rent Est.

$1,549,393  ( +10.75%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $736.32
  • 5 Days on Market
  • MLS # : ML81807379
  • Updated Date : 08/22/2020 at 11:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,900 sqft
  • Baths : 2 full , 1 half
Listing Agent

Golden Gate Sotheby's International Realty

Listing Agent's Description

Stunning, magical multi story light filled home with high ceilings just steps away from the beach! The perfect costal retreat offers, 3 bedrooms and a large den. 2 Master Suites one with a kitchenette that can be used as a fantastic vacation rental. Views of the ocean from the living room and a short walk down the street to the ocean. A wood beam and glass ceiling sun room makes the most perfect office, workout, recreation studio or additional 4th star gazing bedroom. An upper and lower deck and a large backyard perfect for all entertaining needs. Multiple living and dining areas with a semi open concept to allow an easy flow throughout the home. This home has many amazing features and is truly a must see home!

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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

Zip Code: 94018

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $391k1528k

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

Zip Code: 94018

ZipNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $14365135

* 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
El Granada Elementary School Primary Regular 490 22 5
Cunha Intermediate School Middle Regular 745 29 5
Half Moon Bay High School High Regular 1,018 41 8

El Granada Elementary School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 22
5
GreatSchools Rating

Cunha Intermediate School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 29
5
GreatSchools Rating

Half Moon Bay High School

  • Education Level: High
  • # of students: 1,018
  • # of teachers: 41
8
GreatSchools Rating
 

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

PURCHASE PRICE

$3,906$4,774$4,340

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 $4,340
EXPENSES Loan Payment -$5,162
Property Tax -$1,404
Property Insurance -$73
Property Management Fees -$169
CASH FLOW
-$2,468

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

$4,340

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 10.75%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
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 80% 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

$72

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 815 Avenue Balboa El Granada,
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
The Kockos Group
Golden Gate Sotheby's International Realty
BESbswy