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PROPERTY INFO
FACTS
- Single Family
- Built In 1941
- Price/Sqft : $1,088.40
- 4 Days on Market
- MLS # : ML81824970
- Updated Date : 01/08/2021 at 10:27
CONSTRUCTION
- Beds : 3
- Floor Size : 1,561 sqft
- Baths : 3 full
Listing Agent
Compass
Listing Agent's Description
This is it! Step inside this gorgeous remodeled smart home located in Mt. Carmel near Edgewood Park featuring a gourmet kitchen with stainless steel appliances with high end finishes, open concept great room with a fireplace facade and mantel, gorgeous remodeled bathrooms, two stunning master suites with french doors to a private deck and rear garden. Upgraded doors, windows, trim, fixtures, fencing, landscaping, roof, and clear-grade Redwood deck. Also has fully paid off solar panels to be transferred to the new owner with purchase of the home, spacious detached 2 car garage with a bonus space, and a huge stamped concrete driveway. This amazing location is a short stroll to downtown and local parks. You can't miss it!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Redwood City
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Redwood City
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,200 |
| EXPENSES | Loan Payment | -$5,901 |
| Property Tax | -$1,558 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$164 | |
|
CASH FLOW
-$3,488
|
||
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.
$1,699,000
PROJECTED PRICE
$4,200
PROJECTED RENT
0.25%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$455,985
LOAN DETAILS
$5,901
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $424,750 |
| Loan Amount | $1,274,250 |
-0.17
YEARS SAVED
-$74
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
-
$4,632
COMP ESTIMATED VALUE -
$2.97
COMP AVG. RENT PER SQFT
Comps Range
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428 Hudson St Redwood City, CA 1
- 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1941 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1941
- Rent
- Rent Per SQFT
- $0
- $0.00
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1002 King St Redwood City, CA 2
- 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1942
LEASED 09/15/20- Rent
- Rent Per SQFT
- $3,950
- $2.78
-
811 Madison Ave Redwood City, CA 3
- 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1950
LEASED 06/23/20- Rent
- Rent Per SQFT
- $4,395
- $2.68
-
474 Quartz St Redwood City, CA 4
- 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1928
LEASED 12/09/20- Rent
- Rent Per SQFT
- $4,800
- $3.29
-
85 Hillview Ave Redwood City, CA 5
- 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1924 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1924
LEASED 07/21/20- Rent
- Rent Per SQFT
- $5,000
- $3.13
PROPERTY LISTING DETAILS
Compass
