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2414 Ohio Ave Redwood City, CA 94061

5 Beds 2 Baths 2,170 sqft Built 1951

$1,850,000

List Price

$5,630

$5.4K - $5.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $852.53
  • 2 Days on Market
  • MLS # : ML81822364
  • Updated Date : 12/05/2020 at 10:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,170 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

This 5 bedroom, 2 bath sun-soaked home is a rare opportunity to spread out in the heart of sought after Woodside Plaza. The +/- 2,170 SF home features wonderful indoor/outdoor flow, two living areas downstairs, new paint, carpet, modern light fixtures and more. The +/- 7,150 SF lot offers a blank slate of opportunities with a large back yard and wide side yard for pets or vegetable gardens. The Master Bedroom, bathroom and additional bedroom/office upstairs provide a welcome respite from the downstairs hubbub. Relax on the private upstairs balcony with beautiful Western hills views. Located in a vibrant neighborhood within walking distance to Woodside Plaza shops including a pharmacy, pet store, hardware store, frozen yogurt shop, bike shop, artisan coffee, schools, and more. Close to lovely neighborhood parks including dog-friendly Stulsaft Park. Easy access to 280 and 101. Welcome Home. Visit 2414Ohio.com for more info.

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: Sterling Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $445k1644k

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

Neighborhood: Sterling Highlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $15675138

* 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
Henry Ford Elementary School Primary Regular 426 16 5
John F. Kennedy Middle School Middle Regular 728 36 5
Woodside High School High Magnet 1,815 106 7

Henry Ford Elementary School

  • Education Level: Primary
  • # of students: 426
  • # of teachers: 16
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
 

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

PURCHASE PRICE

$5,067$6,193$5,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,630
EXPENSES Loan Payment -$6,826
Property Tax -$1,696
Property Insurance -$79
Property Management Fees -$220
CASH FLOW
-$3,191

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

$5,630

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 13.5%
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$7.0M

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$7.0M

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 75% 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

$113

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
  • $5,799

    COMP ESTIMATED VALUE
  • $2.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,5003$5,9004$6,5005$6,900
$6,900
RENT COMPS ANALYSIS
  • 2414 Ohio Ave Redwood City, CA 1
    • 5 beds 2 baths ∙ 2,170 Sqft ∙ Built 1951 5 beds 2 baths ∙ 2,170 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1228 Fairview Ave Redwood City, CA 2
    • 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1949 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1949
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.61
    •  
  • 3639 Country Club Dr Redwood City, CA 3
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1959
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,900
    • $2.40
    •  
  • 610 Woodside Dr Woodside, CA 4
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1953 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1953
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $6,500
    • $2.90
    •  
  • 1878 Barton St Redwood City, CA 5
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1950
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,900
    • $2.78
    •  
PROPERTY LISTING DETAILS
Lori Burrows-warren
Compass
BESbswy