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367 Jeter St 
Redwood City, CA
94062
4 Beds 4 Baths 2,900 sqft
Built 1940
INVESTimate
$1,995,000
List Price
$534,425
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PROPERTY INFO
FACTS
- Built In 1940
- Price/Sqft : $687.93
- 3 Days on Market
- MLS # : ML81807507
- Updated Date : 08/25/2020 at 16:21
CONSTRUCTION
- Beds : 4
- Floor Size : 2,900 sqft
- Baths : 3 full , 1 half
Listing Agent
Re/max Star Properties
Listing Agent's Description
Welcome Home to this Gorgeous Spanish 4 bedroom 3.5 bath in Desirable Mount Carmel. Two master suites one on first floor, large bedrooms, three full bathrooms with another half bath.State of art kitchen opens to spacious family room. Spacious formal dining. Family room looks out to large fenced yard with black bottom pool . Long driveway leads to detached over sized two car garage. with finished attic space for ample storage . several balconies to relax and view the pool . The spacious yard with pool beckons future gatherings but lots of room for stay at home fun now. Wonderful neighborhood with block parties for all families to enjoy. Truly a Beautiful home with Mediterranean flair!!. Show and Sell this Spanish Charmer!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Redwood Highlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Redwood Highlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $7,120 |
| EXPENSES | Loan Payment | -$7,361 |
| Property Tax | -$1,829 | |
| Property Insurance | -$97 | |
| Property Management Fees | -$278 | |
|
CASH FLOW
-$2,444
|
||
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.
$1,995,000
PROJECTED PRICE
$7,120
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.83% |
| Appreciation Year (1-5) | 13.94% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.92% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$534,425
LOAN DETAILS
$7,361
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $498,750 |
| Loan Amount | $1,496,250 |
0.67
YEARS SAVED
$6,330
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$7,120
LIST RENT -
$2.46
LIST RENT PER SQFT
-
$8,536
COMP ESTIMATED VALUE -
$2.94
COMP AVG. RENT PER SQFT
Comps Range
-
367 Jeter St Redwood City, 2
- 4 beds 4 baths ∙ 2,900 Sqft ∙ Built 1940 4 beds 4 baths ∙ 2,900 Sqft ∙ Built 1940
- Rent
- Rent Per SQFT
- $7,120
- $2.46
-
1559 Walnut St San Carlos, 1
- 5 beds 3 baths ∙ 2,710 Sqft ∙ Built 1954 5 beds 3 baths ∙ 2,710 Sqft ∙ Built 1954
LEASED 03/19/19- Rent
- Rent Per SQFT
- $6,500
- $2.40
-
3773 Farm Hill Blvd Redwood City, 3
- 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 1958 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 1958
LEASED 09/01/19- Rent
- Rent Per SQFT
- $8,750
- $3.24
-
503 Iris St Redwood City, 4
- 5 beds 4 baths ∙ 2,790 Sqft ∙ Built 1931 5 beds 4 baths ∙ 2,790 Sqft ∙ Built 1931
LEASED 08/17/20- Rent
- Rent Per SQFT
- $8,900
- $3.19
PROPERTY LISTING DETAILS
Re/max Star Properties
