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1143 King St Redwood City, CA 94061

2 Beds 1 Baths 940 sqft Built 1948

$1,198,000

List Price

$3,350

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $1,274.47
  • 4 Days on Market
  • MLS # : ML81824347
  • Updated Date : 01/02/2021 at 00:20
CONSTRUCTION
  • Beds : 2
  • Floor Size : 940 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Charming Bungalow Home in the Mid-Peninsula! An inviting front porch welcomes you home to an open living room filled with light and a wood-burning fireplace. A Spa-like bathroom with deep soaking tub is across the hall from the two bright bedrooms. Cozy, updated eat-in kitchen with granite countertops ushers into the separate laundry area. This home features a secluded and shaded backyard with a unique redwood fence. Just a short walk from Red Morton Park, Key Market grocery store, and Roosevelt Shopping Center. Redwood City is sure to please with its charming downtown atmosphere. Close to HWY 101 & 280, and an easy commute to anywhere in the Bay Area.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Redwood City

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $392k1433k

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

Neighborhood: Redwood City

ZipNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $15445138

* 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
Hawes Community School Primary Regular 399 15 5
John F. Kennedy Middle School Middle Regular 728 36 5
Woodside High School High Magnet 1,815 106 7

Hawes Community School

  • Education Level: Primary
  • # of students: 399
  • # of teachers: 15
5
GreatSchools Rating

John F. Kennedy Middle School

  • Education Level: Middle
  • # of students: 728
  • # of teachers: 36
5
GreatSchools Rating

Woodside High School

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

$1,078,200$1,317,800$1,198,000

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$4,420
Property Tax -$1,098
Property Insurance -$50
Property Management Fees -$131
CASH FLOW
-$2,349

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.

$1,198,000

PROJECTED PRICE

$3,350

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
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

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,220

INVESTMENT

$323,220

Down Payment
$299,500
Rehab Estimate
$5,750
Closing Costs
$17,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,500
Loan Amount $898,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,973

    COMP ESTIMATED VALUE
  • $3.16

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8003$2,9954$3,1005$3,695
$3,695
RENT COMPS ANALYSIS
  • 1143 King St Redwood City, CA 1
    • 2 beds 1 baths ∙ 940 Sqft ∙ Built 1948 2 beds 1 baths ∙ 940 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1670 Palm Ave Redwood City, CA 2
    • 2 beds 1 baths ∙ 950 Sqft ∙ Built 1958 2 beds 1 baths ∙ 950 Sqft ∙ Built 1958
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.95
    •  
  • 1120 Palm Ave Redwood City, CA 3
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1949 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1949
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $3.00
    •  
  • 3327 Jefferson Ave Redwood City, CA 4
    • 2 beds 2 baths ∙ 920 Sqft ∙ Built 1955 2 beds 2 baths ∙ 920 Sqft ∙ Built 1955
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $3.37
    •  
  • 547 Ruby St Front Unit Redwood City, CA 5
    • 2 beds 1 baths ∙ 1,110 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,110 Sqft ∙ Built 1947
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $3.33
    •  
PROPERTY LISTING DETAILS
Mary Abolmoluki
Coldwell Banker Realty
BESbswy