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400 Center St 
Redwood City, CA
94061
3 Beds 1 Baths 1,000 sqft
Built 1943
INVESTimate
$1,198,000
List Price
$323,220
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PROPERTY INFO
FACTS
- Built In 1943
- Price/Sqft : $1,198.00
- 3 Days on Market
- MLS # : ML81806912
- Updated Date : 08/24/2020 at 09:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,000 sqft
- Baths : 1 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Perfectly situated on a corner lot, this warm & inviting home is a MUST-SEE! Upon entry, the light-filled living room has a charming fireplace & hardwood floors, while the eat-in kitchen is perfect for week night meals at home. Just off the living room, 3 bright & airy bedrooms & 1 bathroom complete the main residence. The rear yard offers a wonderful outdoor space that includes a covered patio, storage shed, mature fruit trees & a good sized lawn thats perfect for play. The rear yard also has a detached 1 car garage w/ Washer/Dryer hook-ups & an attached 1-car carport space that is accessed through an electric gate on the side of the home. On the opposite side of the garage, an attached bedroom w/half bath & a private entrance is perfect for a private home office or as an additional room of your choice. This home has been newly painted & offers dual pane windows throughout. Close to nearby shopping, restaurants & more, this home is perfect for daily living & celebratory gatherings!
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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 Villa Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Redwood Villa Park
* 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 | $3,580 |
| EXPENSES | Loan Payment | -$4,420 |
| Property Tax | -$1,098 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$140 | |
|
CASH FLOW
-$2,129
|
||
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.
$1,198,000
PROJECTED PRICE
$3,580
PROJECTED RENT
0.30%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.98% |
| Appreciation Year (1-5) | 13.59% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.18% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$323,220
LOAN DETAILS
$4,420
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $299,500 |
| Loan Amount | $898,500 |
0.08
YEARS SAVED
$63
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,580
LIST RENT -
$3.58
LIST RENT PER SQFT
-
$3,188
COMP ESTIMATED VALUE -
$3.19
COMP AVG. RENT PER SQFT
Comps Range
-
400 Center St Redwood City, 1
- 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1943 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1943
![property image]()
- Rent
- Rent Per SQFT
- $3,580
- $3.58
-
119 Park St Front Unit Redwood City, 2
- 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1942
![property image]()
LEASED 07/01/20- Rent
- Rent Per SQFT
- $3,600
- $3.00
-
816 6th Ave Redwood City, 3
- 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1948
![property image]()
LEASED 03/15/20- Rent
- Rent Per SQFT
- $4,200
- $3.31
-
1124 Grand St Redwood City, 4
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1953
![property image]()
LEASED 06/10/20- Rent
- Rent Per SQFT
- $4,200
- $3.11
-
825 Fulton St Redwood City, 5
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1925
![property image]()
LEASED 04/20/19- Rent
- Rent Per SQFT
- $4,500
- $3.33
PROPERTY LISTING DETAILS
Coldwell Banker Realty
