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1130 Ridgewood Dr Millbrae, CA 94030

3 Beds 2 Baths 1,690 sqft Built 1956

INVESTimate

$1,899,999

List Price

$4,700

$4,450 - $4,950

Rent Est.

$2,129,139  ( +12.06%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $1,124.26
  • 6 Days on Market
  • MLS # : ML81807183
  • Updated Date : 08/21/2020 at 10:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 2 full
Listing Agent

Green Banker Realty

Listing Agent's Description

BEAUTIFUL HOME WITH LIGHT-FILLED ROOMS, FLOWING FLOOR PLAN, HUGE BACKYARD & BREATHTAKING SF BAY & BAY VIEWS! LARGE FLOOR TO CEILING PANELED WINDOWS SPANS FROM THE LIVING ROOM TO THE FAMILY ROOM/DINING AREA SHOWCASING THE LARGE PATIO. VAULTED BEAMED CEILINGS & PARQUET HARDWOOD FLOORS THROUGHOUT. EASY ACCESS TO HWY 280, 101, CALTRAIN & BART STATIONS. PARKS/OUTDOOR RECREATION AREAS, MANY SHOPS & RESTAURANTS @ DOWNTOWN MILLBRAE.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Millbrae Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700kPrice in $450k1763k

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

Neighborhood: Millbrae Meadows

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2220024002600280030003200340036003800400042004400460048005000Rent in $20355135

* 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
Green Hills Elementary School Primary Regular 410 17 9
Taylor Middle School Middle Regular 881 40 7
Mills High School High Regular 1,214 56 9

Green Hills Elementary School

  • Education Level: Primary
  • # of students: 410
  • # of teachers: 17
9
GreatSchools Rating

Taylor Middle School

  • Education Level: Middle
  • # of students: 881
  • # of teachers: 40
7
GreatSchools Rating

Mills High School

  • Education Level: High
  • # of students: 1,214
  • # of teachers: 56
9
GreatSchools Rating
 

$1,709,999$2,089,999$1,899,999

PURCHASE PRICE

$4,230$5,170$4,700

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,700
EXPENSES Loan Payment -$7,010
Property Tax -$1,839
Property Insurance -$68
Property Management Fees -$183
CASH FLOW
-$4,400

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.

$1,899,999

PROJECTED PRICE

$4,700

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 12.06%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$509,250

INVESTMENT

$509,250

Down Payment
$475,000
Rehab Estimate
$5,750
Closing Costs
$28,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,010

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $475,000
Loan Amount $1,424,999
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,700

    LIST RENT
  • $2.78

    LIST RENT PER SQFT
  • $4,964

    COMP ESTIMATED VALUE
  • $2.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,950
1$3,9502$4,2953$4,5004$4,7005$5,300
$5,300
RENT COMPS ANALYSIS
  • 1130 Ridgewood Dr Millbrae, 4
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $2.78
    •  
  • 328 Juanita Ave Millbrae, 1
    • 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1946
    LEASED 04/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.76
    •  
  • 352 Oak Ave San Bruno, 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1950
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,295
    • $3.07
    •  
  • 1290 Hillcrest Blvd Millbrae, 3
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1951
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.87
    •  
  • 20 Queen Anne Ct Millbrae, 5
    • 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1951
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,300
    • $3.05
    •  
PROPERTY LISTING DETAILS
Stanley Lo
Green Banker Realty
BESbswy