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417 4th Ave Redwood City, CA 94063

3 Beds 2 Baths 1,320 sqft Built 1947

INVESTimate

$1,195,000

List Price

$3,660

$3,410 - $3,910

Rent Est.

$1,331,947  ( +11.46%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1947
  • Price/Sqft : $905.30
  • 5 Days on Market
  • MLS # : ML81807394
  • Updated Date : 08/24/2020 at 18:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Akimax Lending

Listing Agent's Description

This gorgeous rustic style home is a design dream & truly shows *Pride of Ownership*. It has been nicely renovated inside & out with details around every corner & lots of custom made features. As you tour this property you will see custom woodwork throughout made with distressed lumber, stained & restored. Smooth finish Level-1 sheet rocked walls with rounded corners. New front entrance to house with new wood main door. Velux skylight with custom lightwell. Reconditioned Hickory hardwood floors in living room & hallway plus new Red Oak hardwood floor in two bedrooms. New Type "L" copper piping throughout front & back house. The improvements & custom features in this beautiful property are too many to list. The main house has 2 BR/1 BA & the guest house behind has an additional 1 BR/1 BA & kitchen. Conveniently located & minutes to 101/Facebook/Stanford & walking distance to dining & shops. Make your showing appointment for a nice surprise & see all the potential this home has to offer.

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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: North Fair Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $349k1433k

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

Neighborhood: North Fair Oaks

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $13105138

* 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
Fair Oaks Elementary School Primary Regular 341 13 3
John F. Kennedy Middle School Middle Regular 728 36 5
Menlo-atherton High School High Regular 2,158 112 8

Fair Oaks Elementary School

  • Education Level: Primary
  • # of students: 341
  • # of teachers: 13
3
GreatSchools Rating

John F. Kennedy Middle School

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

Menlo-atherton High School

  • Education Level: High
  • # of students: 2,158
  • # of teachers: 112
8
GreatSchools Rating
 

$1,075,500$1,314,500$1,195,000

PURCHASE PRICE

$3,294$4,026$3,660

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,660
EXPENSES Loan Payment -$4,409
Property Tax -$1,401
Property Insurance -$59
Property Management Fees -$143
CASH FLOW
-$2,351

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.

$1,195,000

PROJECTED PRICE

$3,660

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.98%
Appreciation Year (1-5) 11.46%
Maintenance Year (1-5) 8.00%
Vacancy 6.18%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$322,425

INVESTMENT

$322,425

Down Payment
$298,750
Rehab Estimate
$5,750
Closing Costs
$17,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,409

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $298,750
Loan Amount $896,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$21

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
  • $4,534

    COMP ESTIMATED VALUE
  • $3.44

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8003$4,800
$4,800
RENT COMPS ANALYSIS
  • 417 4th Ave Redwood City, 1
    • 2 beds 1 baths ∙ 1,320 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,320 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 793 6th Ave Redwood City, 2
    • 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 1948 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 1948
    property image
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.49
    •  
  • 835 7th Ave Redwood City, 3
    • 2 beds 2 baths ∙ 1,420 Sqft ∙ Built 1948 2 beds 2 baths ∙ 1,420 Sqft ∙ Built 1948
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.38
    •  
PROPERTY LISTING DETAILS
Juan Coss
Akimax Lending
BESbswy