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910 Sunset Dr San Carlos, CA 94070

3 Beds 3 Baths 1,495 sqft Built 1934

INVESTimate

$1,998,888

List Price

$3,940

$3,690 - $4,190

Rent Est.

$2,229,760  ( +11.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1934
  • Price/Sqft : $1,337.05
  • 7 Days on Market
  • MLS # : ML81807120
  • Updated Date : 08/24/2020 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,495 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

This magical property is truly one-of-a-kind. Impeccable craftsmanship, lush landscaping, magnificent Bay views are the hallmark characteristics of this unique property. Owned, updated and maintained by one of the Peninsula's finest contractors, no detail was spared. The main house offers 2bd/2ba. Enjoy cooking in the chefs kitchen boasting custom cabinetry with soft-close drawers and doors, honed Carrera marble counter-tops, & top-of-the-line Thermador appliances. Relax in the living room by the fireplace with custom stainless-steel surround & walnut mantle flanked by custom built-in cabinetry. Retire for the night in the primary bedroom with gorgeous en-suite bathroom featuring Carrera marble floors and counters, custom walnut cabinetry and heated floor. Rounding out the main house is a second bedroom, another full bathroom and mudroom complete with laundry. There is also a split-level cottage complete with its own private deck, a chef's kitchen & in-unit laundry.

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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

Neighborhood: Beverly Hills

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $450k1852k

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

Neighborhood: Beverly Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $17225455

* 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
Heather Elementary School Primary Charter 444 21 9
Tierra Linda Middle School Middle Charter 639 29 9
Carlmont High School High Regular 2,183 107 9

Heather Elementary School

  • Education Level: Primary
  • # of students: 444
  • # of teachers: 21
9
GreatSchools Rating

Tierra Linda Middle School

  • Education Level: Middle
  • # of students: 639
  • # of teachers: 29
9
GreatSchools Rating

Carlmont High School

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

$1,798,999$2,198,777$1,998,888

PURCHASE PRICE

$3,546$4,334$3,940

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$6.0M$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$80k-$60k-$40k-$20k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,940
EXPENSES Loan Payment -$7,375
Property Tax -$2,154
Property Insurance -$50
Property Management Fees -$154
CASH FLOW
-$5,792

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.

$1,998,888

PROJECTED PRICE

$3,940

PROJECTED RENT

0.20%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.55%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$535,455

INVESTMENT

$535,455

Down Payment
$499,722
Rehab Estimate
$5,750
Closing Costs
$29,983

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,375

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $499,722
Loan Amount $1,499,166
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$7,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,940

    LIST RENT
  • $4.19

    LIST RENT PER SQFT
  • $3,257

    COMP ESTIMATED VALUE
  • $3.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,940
1$3,9402$4,2003$4,500
$4,500
RENT COMPS ANALYSIS
  • 910 Sunset Dr San Carlos, 1
    • 3 beds 3 baths ∙ 940 Sqft ∙ Built 1934 3 beds 3 baths ∙ 940 Sqft ∙ Built 1934
    • Rent
    • Rent Per SQFT
    •  
    • $3,940
    • $4.19
    •  
  • 1110 Orange Ave San Carlos, 2
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1947
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.36
    •  
  • 1523 Arguello St Redwood City, 3
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1946
    LEASED 05/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.57
    •  
PROPERTY LISTING DETAILS
Caroline Dinsmore
Compass
BESbswy