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2114 Brewster Ave Redwood City, CA 94062

2 Beds 3 Baths 1,482 sqft Built 1946

$1,698,000

List Price

$5,020

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1946
  • Price/Sqft : $1,145.75
  • 3 Days on Market
  • MLS # : ML81819235
  • Updated Date : 11/06/2020 at 17:26
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,482 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Welcome home to this Mt. Carmel charmer - located just minutes from Downtown Redwood City, the CalTrain station, Whole Foods, Stafford Park and more! Set back from the tree lined street, this spacious 2 bedroom 2.5 bathroom home is inviting both inside and out. Beautiful hardwood and marble floors throughout, remodeled kitchen with stainless steel appliances and updated bathrooms. The primary bedroom suite offers a large ensuite bathroom with dual vanity sinks and walk-in closet. The patio area in the courtyard offers a private outdoor setting for both entertainment and relaxation. The thoughtful updates throughout have already been completed, now this home is ready for you to enjoy your next chapter.

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 Q220002500300035004000450050005500Rent in $17055971

* 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
John Gill Elementary School Primary Regular 408 16 6
John F. Kennedy Middle School Middle Regular 728 36 5
Sequoia High School High Regular 2,135 109 6

John Gill Elementary School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 16
6
GreatSchools Rating

John F. Kennedy Middle School

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

Sequoia High School

  • Education Level: High
  • # of students: 2,135
  • # of teachers: 109
6
GreatSchools Rating
 

$1,528,200$1,867,800$1,698,000

PURCHASE PRICE

$4,518$5,522$5,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,020
EXPENSES Loan Payment -$6,265
Property Tax -$1,788
Property Insurance -$63
Property Management Fees -$196
CASH FLOW
-$3,292

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.

$1,698,000

PROJECTED PRICE

$5,020

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.4%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$455,720

INVESTMENT

$455,720

Down Payment
$424,500
Rehab Estimate
$5,750
Closing Costs
$25,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,265

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $424,500
Loan Amount $1,273,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$5

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,020

    LIST RENT
  • $3.39

    LIST RENT PER SQFT
  • $5,419

    COMP ESTIMATED VALUE
  • $3.66

    COMP AVG. RENT PER SQFT
Comps Range
$4,295
1$4,2952$4,3753$4,8954$5,020
$5,020
RENT COMPS ANALYSIS
  • 2114 Brewster Ave Redwood City, CA 4
    • 2 beds 3 baths ∙ 1,482 Sqft ∙ Built 1946 2 beds 3 baths ∙ 1,482 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $5,020
    • $3.39
    •  
  • 1415 Greenwood Ave San Carlos, CA 1
    • 2 beds 1 baths ∙ 1,240 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,240 Sqft ∙ Built 1947
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,295
    • $3.46
    •  
  • 1117 Cedar St San Carlos, CA 2
    • 2 beds 1 baths ∙ 1,230 Sqft ∙ Built 1945 2 beds 1 baths ∙ 1,230 Sqft ∙ Built 1945
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,375
    • $3.56
    •  
  • 1448 White Oak Way San Carlos, CA 3
    • 2 beds 2 baths ∙ 1,240 Sqft ∙ Built 1950 2 beds 2 baths ∙ 1,240 Sqft ∙ Built 1950
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,895
    • $3.95
    •  
PROPERTY LISTING DETAILS
Patrick Taylor
Compass
BESbswy