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308 Sequoia Ave Redwood City, CA 94061

3 Beds 2 Baths 1,770 sqft Built 1965

$1,999,000

List Price

$5,420

$5.2K - $5.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $1,129.38
  • 7 Days on Market
  • MLS # : ML81818489
  • Updated Date : 11/07/2020 at 00:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Beautifully updated home ready to move right in! Open concept living. Gorgeous new kitchen and baths. Expansive, private backyard and patio. Tucked away down a flag lot for ultimate privacy. Located in the sort-after Selby neighborhood convenient to Sand Hill Rd, Stanford U, Facebook, Rt 280 and within an hour of 3 international airports.

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: Harvard

NeighborhoodNIR Market*CityMarket2010Year20002019400k600k800k1000k1200k1400k1600k1800kPrice in $392k1880k

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

Neighborhood: Harvard

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $16835189

* 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
Selby Lane Elementary School Primary Regular 729 31 5
John F. Kennedy Middle School Middle Regular 728 36 5
Woodside High School High Magnet 1,815 106 7

Selby Lane Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 31
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
 

$1,799,100$2,198,900$1,999,000

PURCHASE PRICE

$4,878$5,962$5,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,420
EXPENSES Loan Payment -$7,375
Property Tax -$2,003
Property Insurance -$70
Property Management Fees -$211
CASH FLOW
-$4,240

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.

$1,999,000

PROJECTED PRICE

$5,420

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.6%
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-$70k-$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$535,485

INVESTMENT

$535,485

Down Payment
$499,750
Rehab Estimate
$5,750
Closing Costs
$29,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$7,375

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $499,750
Loan Amount $1,499,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$88

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,420

    LIST RENT
  • $3.06

    LIST RENT PER SQFT
  • $5,434

    COMP ESTIMATED VALUE
  • $3.07

    COMP AVG. RENT PER SQFT
Comps Range
$5,200
1$5,2002$5,3003$5,4204$6,0005$6,500
$6,500
RENT COMPS ANALYSIS
  • 308 Sequoia Ave Redwood City, CA 3
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $5,420
    • $3.06
    •  
  • 2145 Woodside Rd Redwood City, CA 1
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1947
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,200
    • $2.86
    •  
  • 1746 Kentucky St Redwood City, CA 2
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1950 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1950
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,300
    • $3.17
    •  
  • 351 Montwood Cir Redwood City, CA 4
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1976
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $3.00
    •  
  • 307 Santa Clara Avenue Redwood City, CA 5
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1956
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,500
    • $3.25
    •  
PROPERTY LISTING DETAILS
Maggie Heilman
Compass
BESbswy