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428 Hudson St Redwood City, CA 94062

3 Beds 3 Baths 1,561 sqft Built 1941

$1,699,000

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
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!

SEE MORE

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

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
 

$1,529,100$1,868,900$1,699,000

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

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

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$455,985

INVESTMENT

$455,985

Down Payment
$424,750
Rehab Estimate
$5,750
Closing Costs
$25,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,901

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $424,750
Loan Amount $1,274,250
See What Happens When You Reinvest Cash Flow

-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
$0
1$02$3,9503$4,3954$4,8005$5,000
$5,000
RENT COMPS ANALYSIS
  • 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
    •  
  • 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
Adriana Trenev
Compass
BESbswy