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828 Alameda De Las Pulgas Belmont, CA 94002

2 Beds 1 Baths 960 sqft Built 1948

$1,295,000

List Price

$3,650

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $1,348.96
  • 3 Days on Market
  • MLS # : ML81820268
  • Updated Date : 11/13/2020 at 16:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 960 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This is such a doll house and what a fantastic opportunity for a variety of buyers! The first time buyer who prefers a home instead of a condo, the buyer who wants to add sweat equity, the buyer who wants to add on and make the home their own or the buyer who has a vision for a more majestic use of this lot. This move in condition home is waiting for someone to put their personal touches on it. Don't let the street fool you, plenty of off street parking in the long driveway in addition to the extra large garage with a huge storage area too! Gleaming hardwood Floors, views of the hills from the deck where you can sit and enjoy your morning coffee, double paned windows in most of the house provide an abundance of natural light. Access to the decks from each bedroom. The living room features a cozy brick fireplace and a picture window with peek a boo views to the west hills. Dog lovers will love the fully fenced yard. Walk to dinner, coffee or groceries at the Carlmont Shopping Center.

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: Cipriani

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700kPrice in $450k1794k

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

Neighborhood: Cipriani

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $17085170

* 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
Ralston Middle School Middle Regular 1,130 49 9
Carlmont High School High Regular 2,183 107 9

Ralston Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 49
9
GreatSchools Rating

Carlmont High School

  • Education Level: High
  • # of students: 2,183
  • # of teachers: 107
9
GreatSchools Rating
 

$1,165,500$1,424,500$1,295,000

PURCHASE PRICE

$3,285$4,015$3,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,650
EXPENSES Loan Payment -$4,778
Property Tax -$1,389
Property Insurance -$50
Property Management Fees -$142
CASH FLOW
-$2,710

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.

$1,295,000

PROJECTED PRICE

$3,650

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$348,925

INVESTMENT

$348,925

Down Payment
$323,750
Rehab Estimate
$5,750
Closing Costs
$19,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,778

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $323,750
Loan Amount $971,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$58

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,650

    LIST RENT
  • $3.8

    LIST RENT PER SQFT
  • $3,422

    COMP ESTIMATED VALUE
  • $3.57

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,6503$3,995
$3,995
RENT COMPS ANALYSIS
  • 828 Alameda De Las Pulgas Belmont, CA 2
    • 2 beds 1 baths ∙ 960 Sqft ∙ Built 1948 2 beds 1 baths ∙ 960 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $3.80
    •  
  • 906 Academy Belmont, CA 1
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1964 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1964
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $3.50
    •  
  • 1730 Robin Whipple Belmont, CA 3
    • 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,100 Sqft ∙ Built 1947
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $3.63
    •  
PROPERTY LISTING DETAILS
Liza Vernazza
Coldwell Banker Realty
BESbswy