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167 Lakeview Way Redwood City, CA 94062

3 Beds 2 Baths 2,110 sqft Built 1928

INVESTimate

$1,788,000

List Price

$5,450

$5,200 - $5,700

Rent Est.

$1,949,993  ( +9.06%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1928
  • Price/Sqft : $847.39
  • 10 Days on Market
  • MLS # : ML81806557
  • Updated Date : 08/22/2020 at 09:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,110 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Remodeled woodland retreat with luxury upgrades and easy access to town and nature. With mid-century design notes throughout, this meticulously maintained home is set among oak, redwood and bay trees and offers peace, sunlight and utter privacy. Multiple outdoor living spaces and extensive native landscaping blend inside and outside living. Kitchen features new top of the line appliances, custom teak cabinetry with under-shelf lighting, Heath tile backsplash, Velux skylight, fir ceilings. Bathrooms feature heated floors, floor to ceiling Heath tile, Japanese-style soaking tub, reclaimed redwood walls. Lutron switches for adjustable lighting. Vented gas fireplace with auto-controller. Terraced gardens, Ipe hardwood decks, elegant hardscape, and outdoor lighting enhance an expansive woodland setting. Close to the I-280 and 101 and miles of hiking trails and the lively downtown of Redwood City. Work from home in a vacation destination at 167 Lakeview Way.

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: Emerald Lake

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000kPrice in $450k2065k

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

Neighborhood: Emerald Lake

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q225003000350040004500500055006000Rent in $20036039

* 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
Clifford Elementary School Primary Regular 727 31 7
Clifford Elementary School Middle Regular 727 31 7
Woodside High School High Magnet 1,815 106 7

Clifford Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 31
7
GreatSchools Rating

Clifford Elementary School

  • Education Level: Middle
  • # of students: 727
  • # of teachers: 31
7
GreatSchools Rating

Woodside High School

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

$1,609,200$1,966,800$1,788,000

PURCHASE PRICE

$4,905$5,995$5,450

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,450
EXPENSES Loan Payment -$6,597
Property Tax -$1,644
Property Insurance -$78
Property Management Fees -$213
CASH FLOW
-$3,082

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.

$1,788,000

PROJECTED PRICE

$5,450

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 9.06%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$479,570

INVESTMENT

$479,570

Down Payment
$447,000
Rehab Estimate
$5,750
Closing Costs
$26,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$6,597

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $447,000
Loan Amount $1,341,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$112

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
  • $6,028

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5003$5,9954$6,700
$6,700
RENT COMPS ANALYSIS
  • 167 Lakeview Way Redwood City, 1
    • 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 1928 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 1928
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 150 Somerset St Redwood City, 2
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1937
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.89
    •  
  • 2469 Brewster Ave Redwood City, 3
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1938 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1938
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,995
    • $3.00
    •  
  • 37 Nevada St Redwood City, 4
    • 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1940 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1940
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,700
    • $3.68
    •  
PROPERTY LISTING DETAILS
Mariana Pappalardo
Compass
BESbswy