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856 15th Ave Menlo Park, CA 94025

3 Beds 1 Baths 1,040 sqft Built 1950

$1,489,000

List Price

$3,640

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1950
  • Price/Sqft : $1,431.73
  • 7 Days on Market
  • MLS # : ML81817810
  • Updated Date : 10/28/2020 at 14:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,040 sqft
  • Baths : 1 full
Listing Agent

Parc Agency Corporation

Listing Agent's Description

Completely Remodeled 3 Bedroom 1 Bath Home with Beautiful Custom Landscaped Backyard. Elegant Living Room with Fireplace. Stunning Eat-in Kitchen with Custom New White Cabinets and High End Appliances. Inside Washer/Dryer. Formal Dining Area. Recently Remodeled Bathroom with Herringbone Designed Floor Tile. Three Spacious Bedrooms. Backyard Includes New Landscaping with Deck and Expansive Sunny Lawn. Beautiful Tree-lined Street. Steps from Starbucks and Delucchi's Market.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Athlone Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019400k600k800k1000k1200k1400k1600k1800k2000kPrice in $386k2199k

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

Neighborhood: Athlone Terrace

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q21500200025003000350040004500500055006000Rent in $14296248

* 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
Garfield Elementary Charter School Primary Regular 644 26 2
John F. Kennedy Middle School Middle Regular 728 36 5
Menlo-atherton High School High Regular 2,158 112 8

Garfield Elementary Charter School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 26
2
GreatSchools Rating

John F. Kennedy Middle School

  • Education Level: Middle
  • # of students: 728
  • # of teachers: 36
5
GreatSchools Rating

Menlo-atherton High School

  • Education Level: High
  • # of students: 2,158
  • # of teachers: 112
8
GreatSchools Rating
 

$1,340,100$1,637,900$1,489,000

PURCHASE PRICE

$3,276$4,004$3,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,640
EXPENSES Loan Payment -$5,494
Property Tax -$1,558
Property Insurance -$52
Property Management Fees -$142
CASH FLOW
-$3,606

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.

$1,489,000

PROJECTED PRICE

$3,640

PROJECTED RENT

0.24%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 12.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$400,335

INVESTMENT

$400,335

Down Payment
$372,250
Rehab Estimate
$5,750
Closing Costs
$22,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $372,250
Loan Amount $1,116,750
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,640

    LIST RENT
  • $3.5

    LIST RENT PER SQFT
  • $3,345

    COMP ESTIMATED VALUE
  • $3.22

    COMP AVG. RENT PER SQFT
Comps Range
$3,625
1$3,6252$3,6403$3,9004$4,200
$4,200
RENT COMPS ANALYSIS
  • 856 15th Ave Menlo Park, CA 2
    • 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $3,640
    • $3.50
    •  
  • 1053 Jones Ct Redwood City, CA 1
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1940
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,625
    • $3.24
    •  
  • 1007 Henderson Menlo Park, CA 3
    • 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1949
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $3.10
    •  
  • 816 6th Ave Redwood City, CA 4
    • 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1948
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.31
    •  
PROPERTY LISTING DETAILS
Keri Nicholas
Parc Agency Corporation
BESbswy