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529 Jackson Ave Redwood City, CA 94061

2 Beds 1 Baths 980 sqft Built 1929

$998,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $1,018.37
  • 3 Days on Market
  • MLS # : ML81823053
  • Updated Date : 12/11/2020 at 17:20
CONSTRUCTION
  • Beds : 2
  • Floor Size : 980 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Opportunity knocks! Bring your DIYs, First-Time Homebuyers and Investors! 2BR, 1 BATH home with hardwood floors, freshly painted interior/exterior and unique period details located in the Roosevelt Neighborhood. Detached 2-Car Garage and backyard with access to the alley. Walk to Whole Foods, downtown Redwood City, schools, parks, and public transportation. An ideal commute location in the heart of Silicon Valley with easy access to I-280 & US-101. This home is a must see!

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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: Eagle Hill

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $349k1433k

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

Neighborhood: Eagle Hill

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $12565138

* 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
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$3,682
Property Tax -$1,029
Property Insurance -$51
Property Management Fees -$129
CASH FLOW
-$1,621

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.

$998,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.98%
Appreciation Year (1-5) 13.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.18%
Length of Stay Years 2

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

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$119

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
  • $3,271

    COMP ESTIMATED VALUE
  • $3.34

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9953$3,6954$4,2955$4,375
$4,375
RENT COMPS ANALYSIS
  • 529 Jackson Ave Redwood City, CA 1
    • 2 beds 1 baths ∙ 980 Sqft ∙ Built 1929 2 beds 1 baths ∙ 980 Sqft ∙ Built 1929
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1120 Palm Ave Redwood City, CA 2
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1949 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1949
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $3.00
    •  
  • 547 Ruby St Front Unit Redwood City, CA 3
    • 2 beds 1 baths ∙ 1,110 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,110 Sqft ∙ Built 1947
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $3.33
    •  
  • 1415 Greenwood Ave San Carlos, CA 4
    • 2 beds 1 baths ∙ 1,240 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,240 Sqft ∙ Built 1947
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,295
    • $3.46
    •  
  • 1117 Cedar St San Carlos, CA 5
    • 2 beds 1 baths ∙ 1,230 Sqft ∙ Built 1945 2 beds 1 baths ∙ 1,230 Sqft ∙ Built 1945
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,375
    • $3.56
    •  
PROPERTY LISTING DETAILS
John Esplana
Compass
BESbswy