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957 Norton St San Mateo, CA 94401

4 Beds 3 Baths 2,300 sqft Built 1950

$1,500,000

List Price

$5,680

$5.4K - $5.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $652.17
  • 41 Days on Market
  • MLS # : ML81821853
  • Updated Date : 01/08/2021 at 10:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,300 sqft
  • Baths : 3 full
Listing Agent

Kw San Francisco

Listing Agent's Description

Enjoy this spacious, updated 4BD, 3BA home with a fully detached office conveniently located near the Bay Trail, Coyote Point, downtown San Mateo and shopping centers. Handsomely positioned on a 5,850 sqft lot, amenity-rich home ft solar panels, tankless water heater, EV station, Nest, & recessed lighting. Stylish details include hardwood laminate flooring, new paint, a chef-grade kitchen, and detached 120 sqft office. Kitchen ft French cabinets, sleek stone countertops, stainless steel 5 burner gas range, double oven, large French door fridge. Primary suite offers long closet, en suite bath in natural stone and mosaic tile. 2nd primary suite has plush carpet, walk-in closet, remodeled bath w/ shower. Low maintenance, landscaped auto-irrigated front/rear yards bordered by fruit trees plus wrap-around composite deck, built in seating and a fire pit. Tons of storage including full height, easy access 550 sqft attic, multiple closets. 1 car garage, 2 car driveway with easy access to 101.

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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: South Shoreview

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $357k1432k

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

Neighborhood: South Shoreview

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $17894696

* 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
Lead Elementary School Primary Magnet 513 22 2
Bayside S.t.e.m. Academy Middle Magnet 625 30 NA
Aragon High School High Regular 1,423 68 9

Lead Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 22
2
GreatSchools Rating

Bayside S.t.e.m. Academy

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 30
NA
GreatSchools Rating

Aragon High School

  • Education Level: High
  • # of students: 1,423
  • # of teachers: 68
9
GreatSchools Rating
 

$1,350,000$1,650,000$1,500,000

PURCHASE PRICE

$5,112$6,248$5,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,680
EXPENSES Loan Payment -$5,210
Property Tax -$1,605
Property Insurance -$83
Property Management Fees -$222
CASH FLOW
-$1,439

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.

$1,500,000

PROJECTED PRICE

$5,680

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.9%
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$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k$30k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$403,250

INVESTMENT

$403,250

Down Payment
$375,000
Rehab Estimate
$5,750
Closing Costs
$22,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$5,210

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $375,000
Loan Amount $1,125,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$12,016

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
  • $5,917

    COMP ESTIMATED VALUE
  • $2.57

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,0003$5,4504$5,6955$6,000
$6,000
RENT COMPS ANALYSIS
  • 957 Norton St San Mateo, CA 1
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 715 N Idaho San Mateo, CA 2
    • 3 beds 4 baths ∙ 2,050 Sqft ∙ Built 1939 3 beds 4 baths ∙ 2,050 Sqft ∙ Built 1939
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.44
    •  
  • 538 Maple St San Mateo, CA 3
    • 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 1947 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 1947
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,450
    • $2.66
    •  
  • 1720 Gum St San Mateo, CA 4
    • 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 1952 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 1952
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,695
    • $2.64
    •  
  • 318 Aragon Blvd San Mateo, CA 5
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1941 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1941
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $2.55
    •  
PROPERTY LISTING DETAILS
Jeff Lang
Kw San Francisco
BESbswy