Real Estate Investing in San Mateo, California (94402)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 94402 (San Mateo, CA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 51.2 — hard to cash-flow at these prices.
What’s happening in San Mateo, CA (94402)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 94402 San Mateo
ZIP 94402 in San Mateo, CA carries a resilient set of headwinds. Home values near $2.5M and rents of $4,022/mo sit inside a market where underwriting has to be tight.
Rent of $4,022/mo on a $2.5M basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 94402 sits below the stated 0.0% once reality is priced in.
ZIP 94402's metrics run below San Mateo County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Who lives in 94402 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 94402 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in San Mateo:
Property Strategy for 94402
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $809,466 | $3,730 | 3.3% | — | $809,466 |
| 2BR | $1,428,621 | $4,520 | 2.3% | +1.5% | $714,311 |
| 3BR | $2,293,075 | $5,770 | 1.8% | +5.1% | $764,358 |
| 4BR | $2,810,516 | $5,980 | 1.5% | +4.5% | $702,629 |
| 5BR | $3,421,901 | — | — | +3.8% | $684,380 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 94402 Compare?
| Metric | 94402 | San Mateo | San Francisco-Oakland-Berkeley, CA | California |
|---|---|---|---|---|
| Home Value | $2,468,871 | $1,837,893 | N/A | $761,003 |
| 5-Year CAGR | 3.8% | 2.5% | N/A | 5.7% |
| Avg Rent | $4,022 | $3,784 | N/A | - |
| Cap Rate | 1.3% | 1.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 94402 (San Mateo, CA). Anonymous, moderated, never written by AI.
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Property managers serving San Mateo County
Manage rentals here? List your business →Bayside Property Management is a Peninsula Property Management Company serving San Mateo County. summary from their website
Boardwalk Investments Property Management specializes in property management and leasing in San Francisco and the Northern Peninsula. summary from their website
Five Star Property Management is a leader in single-family, condominium, and multi-family apartment rentals property management in San Mateo and Northern California. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $2,468,871 |
| Monthly Rent | $4,022 |
| Price-to-Rent | 51.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.0% |
| Cap Rate | 1.3% |
| 5-Year IRR | 5.0% |
📈 Home Appreciation
| 1-Year | +7.0% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 Rent Trends
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +4.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 94402
Population: 25,498
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 94402
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,398 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do rents currently stand in San Mateo, CA?
The typical rental in San Mateo, CA commands about $4,022/mo monthly. That rent profile steady cash flow against the $2.5M purchase basis.
Are tenants stable in San Mateo, CA?
San Mateo, CA draws a stable base of working renters. Demand at the $4,022/mo rent level is reasonable for standard single-family and small multi rentals.
Where do home prices stand in San Mateo, CA?
San Mateo, CA home values average about $2.5M. That price point suits investors targeting rentals with $4,022/mo in monthly income.
Is CA a landlord-friendly state?
Landlord-friendliness in San Mateo, CA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What are vacancy rates like in San Mateo, CA?
San Mateo, CA sees elevated vacancy, which is reasonable relative to the broader CA rental market.
You know 94402 now. You don’t know where it ranks.
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How 94402 ranks in San Francisco-Oakland-Berkeley, CA
Every ZIP in this metro, ranked. Free.
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