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1228 Fairview Ave Redwood City, CA 94061

4 Beds 3 Baths 2,110 sqft Built 1949

$1,850,000

List Price

$5,040

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1949
  • Price/Sqft : $876.78
  • 8 Days on Market
  • MLS # : ML81814376
  • Updated Date : 11/02/2020 at 08:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,110 sqft
  • Baths : 3 full
Listing Agent

Park Lane Capital Inc

Listing Agent's Description

Location Location Location. Come home to this sanctuary 5 bedrooms 3 bath home. Large bedrooms with all the spaces in the right places! Magnificent and rear 8,880 sq.ft lot invites you to enjoy bay area weather. Freshly painted, new carpets, hardwood floors is to mention few upgrades. Enjoy additional 5th bedroom/ office . This one of a kind home is in close proximity to downtown, schools, major highways like 101-El Camino Real and 280, walking distance to local business center & groceries, parks.

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: Roosevelt

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $392k1450k

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

Neighborhood: Roosevelt

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $14545138

* 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
 

$1,665,000$2,035,000$1,850,000

PURCHASE PRICE

$4,536$5,544$5,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,040
EXPENSES Loan Payment -$6,826
Property Tax -$1,696
Property Insurance -$78
Property Management Fees -$197
CASH FLOW
-$3,756

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.

$1,850,000

PROJECTED PRICE

$5,040

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.8%
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$6.0M$7.0M$8.0M

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$7.0M$8.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$496,000

INVESTMENT

$496,000

Down Payment
$462,500
Rehab Estimate
$5,750
Closing Costs
$27,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $462,500
Loan Amount $1,387,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$36

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
  • $5,481

    COMP ESTIMATED VALUE
  • $2.6

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,4503$5,2004$5,3005$5,500
$5,500
RENT COMPS ANALYSIS
  • 1228 Fairview Ave Redwood City, CA 1
    • 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1949 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1949
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 417 Redwood Ave Redwood City, CA 2
    • 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 1946 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 1946
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $2.24
    •  
  • Westwood St Redwood City, CA 3
    • 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
    •  
  • 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
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,300
    • $2.43
    •  
  • 2022 Hampton Ave Redwood City, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Allen Nazari
Park Lane Capital Inc
BESbswy