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3693 Highland Ave Redwood City, CA 94062

3 Beds 3 Baths 2,570 sqft Built 1963

$1,995,000

List Price

$5,650

$5.4K - $5.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $776.26
  • 3 Days on Market
  • MLS # : ML81822304
  • Updated Date : 12/04/2020 at 18:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,570 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw Peninsula Estates

Listing Agent's Description

Beautifully updated in Farm Hills Estates bordering lower Emerald Hills! Expansive living room/dining room space highlighted by stunning bay views framed by sliders offering indoor/outdoor access to expansive deck & yard. Updated kitchen with gleaming quartz counters, modern tile backsplash, newly installed stainless appliances, and a charming breakfast nook with view. Main bedroom suite with your own patio, lovely updated en-suite bath, and wall to wall closets. Two additional bedrooms & second full bath with new flooring, quartz counters & tub/shower. Amazing bonus room with patio fireplace, bar, 1/2 bath with shower & laundry room, opening to the patio and backyard. What a wonderful flex space for a 4th extra bedroom, home office or distance learning space! Unique lot size has 4 parking spaces in front plus a detached garage with rear access. Just two blocks to the Peninsula Community Center (swim & tennis), and close to Roy Cloud School, Emerald Hills Golf Course, trails, & more!

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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: Farm Hill

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $445k1829k

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

Neighborhood: Farm Hill

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $17055362

* 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
Roy Cloud Elementary School Primary Regular 776 29 8
Roy Cloud Elementary School Middle Regular 776 29 8
Woodside High School High Magnet 1,815 106 7

Roy Cloud Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 29
8
GreatSchools Rating

Roy Cloud Elementary School

  • Education Level: Middle
  • # of students: 776
  • # of teachers: 29
8
GreatSchools Rating

Woodside High School

  • Education Level: High
  • # of students: 1,815
  • # of teachers: 106
7
GreatSchools Rating
 

$1,795,500$2,194,500$1,995,000

PURCHASE PRICE

$5,085$6,215$5,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,650
EXPENSES Loan Payment -$7,361
Property Tax -$1,829
Property Insurance -$89
Property Management Fees -$220
CASH FLOW
-$3,849

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

$5,650

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 10.3%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$534,425

INVESTMENT

$534,425

Down Payment
$498,750
Rehab Estimate
$5,750
Closing Costs
$29,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $498,750
Loan Amount $1,496,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$3

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
  • $6,605

    COMP ESTIMATED VALUE
  • $2.57

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,2003$5,9004$6,8005$7,000
$7,000
RENT COMPS ANALYSIS
  • 3693 Highland Ave Redwood City, CA 1
    • 3 beds 3 baths ∙ 2,570 Sqft ∙ Built 1963 3 beds 3 baths ∙ 2,570 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11 Krista Ln San Carlos, CA 2
    • 3 beds 3 baths ∙ 2,230 Sqft ∙ Built 1972 3 beds 3 baths ∙ 2,230 Sqft ∙ Built 1972
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,200
    • $2.33
    •  
  • 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
    •  
  • 920 Pleasant Hill Rd Redwood City, CA 4
    • 4 beds 4 baths ∙ 2,590 Sqft ∙ Built 1956 4 beds 4 baths ∙ 2,590 Sqft ∙ Built 1956
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,800
    • $2.63
    •  
  • 925 Durlston Rd Redwood City, CA 5
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1951 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1951
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,000
    • $2.92
    •  
PROPERTY LISTING DETAILS
Caroline Huo
Kw Peninsula Estates
BESbswy