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402 Sapphire St Redwood City, CA 94062

3 Beds 1 Baths 1,240 sqft Built 1949

$1,685,000

List Price

$3,780

$3.5K - $4K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $1,358.87
  • 7 Days on Market
  • MLS # : ML81820198
  • Updated Date : 11/20/2020 at 14:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 1 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Gem of a bungalow has character & charm! Enjoy thoughtful updates throughout with designer details & modern touches for today's living Prepare to be impressed by the striking gas fireplace & gorgeous wide-plank, white oak floors as you enter this charming home. Cook with ease in the updated kitchen with a breakfast bar, custom cabinets & plenty of storage. The extra-deep backyard is a gardeners paradise with raised beds, many fruits trees, and a potting shed. Enjoy the ultimate rustic backyard retreat with a firepit & two spacious decks with a pergola with an established vining kiwi fruit. Conveniently located to shopping, Stafford Park, commute routes, downtown Redwood City & midway between SFO & SJC 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: Redwood City

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $392k1433k

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

Neighborhood: Redwood City

ZipNIR Market*CityMarket2010Year2000 Q32019 Q220002500300035004000450050005500Rent in $17055971

* 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
John Gill Elementary School Primary Regular 408 16 6
John F. Kennedy Middle School Middle Regular 728 36 5
Sequoia High School High Regular 2,135 109 6

John Gill Elementary School

  • Education Level: Primary
  • # of students: 408
  • # of teachers: 16
6
GreatSchools Rating

John F. Kennedy Middle School

  • Education Level: Middle
  • # of students: 728
  • # of teachers: 36
5
GreatSchools Rating

Sequoia High School

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

$1,516,500$1,853,500$1,685,000

PURCHASE PRICE

$3,402$4,158$3,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,780
EXPENSES Loan Payment -$6,217
Property Tax -$1,545
Property Insurance -$57
Property Management Fees -$147
CASH FLOW
-$4,186

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.

$1,685,000

PROJECTED PRICE

$3,780

PROJECTED RENT

0.22%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$452,275

INVESTMENT

$452,275

Down Payment
$421,250
Rehab Estimate
$5,750
Closing Costs
$25,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $421,250
Loan Amount $1,263,750
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$230

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
  • $3,807

    COMP ESTIMATED VALUE
  • $3.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8003$3,9504$4,1005$4,200
$4,200
RENT COMPS ANALYSIS
  • 402 Sapphire St Redwood City, CA 1
    • 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1949
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1808 Harding Ave Redwood City, CA 2
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1954
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.14
    •  
  • 1002 King St Redwood City, CA 3
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1942
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.78
    •  
  • 1202 Foothill St Redwood City, CA 4
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1953
    property image
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $3.25
    •  
  • 1124 Grand St Redwood City, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Rebecca & Karen
Intero Real Estate Services
BESbswy