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PROPERTY INFO
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.
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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: Howard Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Howard Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$535,749
LOAN DETAILS
$7,379
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $500,000 |
| Loan Amount | $1,499,999 |
-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
-
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
Lg Realty
