Hot Pick Home: 'Smart Value' in the Bay Area - December 7, 2020

Every week our data and real estate experts seek out the best homes on the market in the Bay Area. They've even developed a criteria ranking system based on a multitude of factors to aid in their hunt - and so ZeroDown Hot Picks was born.

This is where we'll be sharing the best of the best homes, every week, in the following categories: Smart Value, Green, Restful, and Best Improvements.

A 'Smart Value' home is one that fits a number of the following criteria:

  • Located within an area that has seen positive growth in the last three three years in median sale price/sq ft for homes
  • Located in an area with the best home price appreciation within the last three, five, or ten years
  • Has been recently updated or remodeled, adding value
  • Is at the 50th percentile or more of living space on the block
  • Has an estimated $ per sq ft sale price that does not exceed the area median by more than 10%

The core idea is this: As a purchase that is also an investment, does this home really make for a smart purchase? We believe this one does.

ZeroDown Hot Pick Home: ‘Smart Value’ in the Bay Area - week of 12/7/2020

3404 Del Monte Street, San Mateo, CA 94403

Since 2016, median sale prices per square foot have risen by 25% in the zip code where this four bed, two-and-a-half bath home with an updated kitchen and remodeled bathroom in San Mateo is located. This suggests there should be steady growth in value in the future. 

The property is among the 79th percentile of living space on the block (and the 89th percentile in the number of bedrooms). We expect the final price per square foot will be about 4% lower than the median for similar properties nearby. This combination of historical price appreciation in the zip code, updates, size relative to other homes on the block, and expected sale price per square foot make this a ZeroDown “Smart Value” Hot Pick.

Check out more of this awesome and smart value property through this virtual home tour:

READ MORE: ZeroDown Hot Pick Home: 'Restful' in the Bay Area

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