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1131 Westwood St Redwood City, CA 94061

3 Beds 3 Baths 2,180 sqft Built 1953

$1,895,000

List Price

$5,500

$5.3K - $5.8K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $869.27
  • 7 Days on Market
  • MLS # : ML81821216
  • Updated Date : 11/24/2020 at 04:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,180 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Wonderful location across from Westwood Park in the sought after location. Freshly painted and well maintained home with open family room, dining room and updated kitchen. Floor-to-ceiling windows span the front and rear of the living and dining room combination, which features a fireplace, modern chandelier, and access to the rear yard. The remodeled kitchen in a palette of white, with contrasting quartz on the angular island, enjoys leafy views through a wall of windows, a built-in office center, perfect for todays needs, plus quality stainless steel appliances. Three bedrooms including huge master suite with vaulted ceiling, marble bath and walk in closet. Downstairs office or bedroom. Sheltered back yard with entertaining deck, play area and heritage Redwood trees providing a tranquil environment. Easy access to commute routes and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Farm Hill

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $445k1829k

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

Neighborhood: Farm Hill

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $17055362

* 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
Roosevelt Elementary School Primary Regular 658 25 6
Roosevelt Elementary School Middle Regular 658 25 6
Woodside High School High Magnet 1,815 106 7

Roosevelt Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 25
6
GreatSchools Rating

Roosevelt Elementary School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 25
6
GreatSchools Rating

Woodside High School

  • Education Level: High
  • # of students: 1,815
  • # of teachers: 106
7
GreatSchools Rating
 

$1,705,500$2,084,500$1,895,000

PURCHASE PRICE

$4,950$6,050$5,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,500
EXPENSES Loan Payment -$6,992
Property Tax -$1,737
Property Insurance -$80
Property Management Fees -$215
CASH FLOW
-$3,523

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.

$1,895,000

PROJECTED PRICE

$5,500

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 10.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$507,925

INVESTMENT

$507,925

Down Payment
$473,750
Rehab Estimate
$5,750
Closing Costs
$28,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$6,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $473,750
Loan Amount $1,421,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$43

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,500

    LIST RENT
  • $2.52

    LIST RENT PER SQFT
  • $5,848

    COMP ESTIMATED VALUE
  • $2.68

    COMP AVG. RENT PER SQFT
Comps Range
$5,200
1$5,2002$5,5003$5,5004$5,5005$5,900
$5,900
RENT COMPS ANALYSIS
  • 1131 Westwood St Redwood City, CA 4
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 1953 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.52
    •  
  • Westwood St Redwood City, CA 1
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1951
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,200
    • $2.81
    •  
  • 2022 Hampton Ave Redwood City, CA 2
    • 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1950 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1950
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.91
    •  
  • 1228 Fairview Ave Redwood City, CA 3
    • 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1949 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1949
    property image
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.61
    •  
  • 3639 Country Club Dr Redwood City, CA 5
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1959
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,900
    • $2.40
    •  
PROPERTY LISTING DETAILS
Judy Citron
Compass
BESbswy