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967 Orange Ave San Carlos, CA 94070

3 Beds 2 Baths 1,600 sqft Built 1938

$1,999,998

List Price

$4,500

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $1,250.00
  • 3 Days on Market
  • MLS # : ML81819532
  • Updated Date : 11/13/2020 at 19:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Lg Realty

Listing Agent's Description

This charming and elegantly updated home offers today's modern conveniences, open floor plan, wide plank floor, recessed lighting, updated bathrooms, and much more. 3 bedrooms, 2 bathrooms, including a master suite, and a detached office for remote working. Beautiful chef's kitchen, w/SS appliances, quartz countertop, and large island designed to keep your family and guests engaged while you show off your culinary skills. The private yard is perfect for family gatherings and entertainment. Only steps to the nearby park with play area. The private backyard invites your imagination for new outdoor living ideas and peaceful enjoyment. Unbeatable Downtown San Carlos walking location! Just a short stroll to all the fantastic restaurants, coffee shops, the park, schools.

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: Howard Park

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $450k1852k

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

Neighborhood: Howard Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $17255455

* 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
Central Middle School Primary Regular 687 31 10
Central Middle School Middle Regular 687 31 10
Sequoia High School High Regular 2,135 109 6

Central Middle School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 31
10
GreatSchools Rating

Central Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 31
10
GreatSchools Rating

Sequoia High School

  • Education Level: High
  • # of students: 2,135
  • # of teachers: 109
6
GreatSchools Rating
 

$1,799,998$2,199,998$1,999,998

PURCHASE PRICE

$4,050$4,950$4,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,500
EXPENSES Loan Payment -$7,379
Property Tax -$2,155
Property Insurance -$66
Property Management Fees -$176
CASH FLOW
-$5,275

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.

$1,999,998

PROJECTED PRICE

$4,500

PROJECTED RENT

0.23%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.9%
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$6.0M$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$80k-$70k-$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$6.0M$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$535,749

INVESTMENT

$535,749

Down Payment
$500,000
Rehab Estimate
$5,750
Closing Costs
$30,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,379

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $500,000
Loan Amount $1,499,999
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

-$169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,500

    LIST RENT
  • $2.81

    LIST RENT PER SQFT
  • $4,880

    COMP ESTIMATED VALUE
  • $3.05

    COMP AVG. RENT PER SQFT
Comps Range
$4,400
1$4,4002$4,5003$4,8954$4,9505$5,800
$5,800
RENT COMPS ANALYSIS
  • 967 Orange Ave San Carlos, CA 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.81
    •  
  • 167 Fairmont Ave San Carlos, CA 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1940
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.86
    •  
  • 2085 Eaton Ave San Carlos, CA 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1941
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,895
    • $3.10
    •  
  • 1149 Woodland Ave San Carlos, CA 4
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1941
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $3.02
    •  
  • 2000 Arroyo Ave San Carlos, CA 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1946 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1946
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,800
    • $3.22
    •  
PROPERTY LISTING DETAILS
Lena Griffin
Lg Realty
BESbswy