Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

303 Edgewood Rd Redwood City, CA 94062

3 Beds 2 Baths 1,420 sqft Built 1924

$1,395,000

List Price

$4,360

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $982.39
  • 3 Days on Market
  • MLS # : ML81822291
  • Updated Date : 12/04/2020 at 17:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,420 sqft
  • Baths : 2 full
Listing Agent

Golden Gate Sotheby's International Realty

Listing Agent's Description

Incredible 3 bedroom, 2 bathroom home in the prestigious Edgewood Park neighborhood. Light-filled living room, formal dining room with built-in custom cabinetry. Recently updated kitchen with breakfast room. Two spacious front bedrooms share a full hall bath. Tucked off the rear entry you have a private bedroom, full bathroom and perfectly placed mudroom/laundry room. Just steps away there is a storage loft and attached one car garage. Conveniently located minutes away from the downtown San Carlos and Redwood City restaurants and shops. Close proximity to major commute routes.

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: Wellesley Park

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800kPrice in $445k1983k

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

Neighborhood: Wellesley Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2200025003000350040004500500055006000Rent in $17056242

* 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
Sequoia High School High Regular 2,135 109 6

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

Sequoia High School

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

$1,255,500$1,534,500$1,395,000

PURCHASE PRICE

$3,924$4,796$4,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,360
EXPENSES Loan Payment -$5,147
Property Tax -$1,279
Property Insurance -$61
Property Management Fees -$170
CASH FLOW
-$2,297

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.

$1,395,000

PROJECTED PRICE

$4,360

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 13.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$375,425

INVESTMENT

$375,425

Down Payment
$348,750
Rehab Estimate
$5,750
Closing Costs
$20,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,147

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $348,750
Loan Amount $1,046,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$118

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
  • $4,462

    COMP ESTIMATED VALUE
  • $3.14

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,4003$4,5004$4,8955$5,000
$5,000
RENT COMPS ANALYSIS
  • 303 Edgewood Rd Redwood City, CA 1
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1924
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 167 Fairmont Ave San Carlos, CA 2
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1940
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.86
    •  
  • 11 Arch Redwood City, CA 3
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1940
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.49
    •  
  • 2085 Eaton Ave San Carlos, CA 4
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1941
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,895
    • $3.10
    •  
  • 85 Hillview Ave Redwood City, CA 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1924 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1924
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $3.13
    •  
PROPERTY LISTING DETAILS
John Shroyer
Golden Gate Sotheby's International Realty
BESbswy