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957 Higate Dr Daly City, CA 94015

3 Beds 2 Baths 1,670 sqft Built 1961

$1,050,000

List Price

$3,640

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $628.74
  • 7 Days on Market
  • MLS # : ML81821684
  • Updated Date : 12/01/2020 at 21:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,670 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Welcome to this bright and stylish Saint Francis Heights home in Daly City. This home offers a versatile floor plan for todays work and play from home needs. Modern updates include stylish flooring, recessed lighting, crown molding, remodeled bathrooms, fresh exterior paint and stonework, newer roof and a stamped concrete patio. The main level offers an open living room with partial views, wood burning fireplace, large dining room and an eat in kitchen. The lower level offers 2 bonus rooms, laundry and a tandem garage, plus plenty of space for a workshop. Driveway is extended to allow for additional parking and the open space across the street allows for ample guest parking. Convenient location with easy access to shopping, transportation and commute routes.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: St. Francis Heights

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $344k1381k

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

Neighborhood: St. Francis Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q218002000220024002600280030003200340036003800400042004400Rent in $16104566

* 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
Thomas Edison Elementary School Primary Regular 407 15 6
Fernando Rivera Middle School Middle Regular 477 21 8
Terra Nova High School High Regular 1,037 46 8

Thomas Edison Elementary School

  • Education Level: Primary
  • # of students: 407
  • # of teachers: 15
6
GreatSchools Rating

Fernando Rivera Middle School

  • Education Level: Middle
  • # of students: 477
  • # of teachers: 21
8
GreatSchools Rating

Terra Nova High School

  • Education Level: High
  • # of students: 1,037
  • # of teachers: 46
8
GreatSchools Rating
 

$945,000$1,155,000$1,050,000

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 -$3,874
Property Tax -$1,149
Property Insurance -$67
Property Management Fees -$142
CASH FLOW
-$1,592

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.

$1,050,000

PROJECTED PRICE

$3,640

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$284,000

INVESTMENT

$284,000

Down Payment
$262,500
Rehab Estimate
$5,750
Closing Costs
$15,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,500
Loan Amount $787,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$432

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
  • $4,029

    COMP ESTIMATED VALUE
  • $2.41

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,9503$4,0004$4,2005$4,300
$4,300
RENT COMPS ANALYSIS
  • 957 Higate Dr Daly City, CA 1
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3854 Howard Ct South San Francisco, CA 2
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1972
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.56
    •  
  • 557 Serra Dr South San Francisco, CA 3
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1955
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.48
    •  
  • 441 Saint Francis Daly City, CA 4
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1959 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1959
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.10
    •  
  • 342 Beaumont Blvd Pacifica, CA 5
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1966
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.51
    •  
PROPERTY LISTING DETAILS
Lana Morin Pierce
Intero Real Estate Services
BESbswy