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534 Redwood Ave 
Milpitas, CA
95035
4 Beds 2 Baths 1,565 sqft
Built 1960
INVESTimate
$950,000
List Price
$257,500
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PROPERTY INFO
FACTS
- Built In 1960
- Price/Sqft : $607.03
- 3 Days on Market
- MLS # : ML81807419
- Updated Date : 08/24/2020 at 20:40
CONSTRUCTION
- Beds : 4
- Floor Size : 1,565 sqft
- Baths : 2 full
Listing Agent
Keller Williams Realty-silicon Valley
Listing Agent's Description
Only one owner for 60 years! First time on the market since it was built in 1960. The longtime owner sold one of his racing Porsche's to get his down-payment for his new home, so he and his bride could have a place to call home. This 4 bedroom /2 bath home is approximately 1565 sq' and sits on a lot approximately 6300 sq'. Sections of the home were added on and updated back in 1998. The floors are mostly covered with carpet and much of the floor has hardwood underneath. The home needs updating and some repairs, a bit of sweat equity and this place will look great in no time. Bring your imagination with you and make this home yours for many years to come. The neighborhood has many homes that are being updated as we prepare this one for market, don't let a great deal pass you by! Now is a great time to buy, interest rates are all time lows and we look forward to having you visit what may be your first home today!
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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: Northwestern Milpitas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northwestern Milpitas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,490 |
| EXPENSES | Loan Payment | -$3,505 |
| Property Tax | -$945 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$136 | |
|
CASH FLOW
-$1,161
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$950,000
PROJECTED PRICE
$3,490
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 5.00% |
| Appreciation Year (1-5) | 12.80% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.19% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$257,500
LOAN DETAILS
$3,505
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $237,500 |
| Loan Amount | $712,500 |
0.67
YEARS SAVED
$3,867
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
-
$3,553
COMP ESTIMATED VALUE -
$2.27
COMP AVG. RENT PER SQFT
Comps Range
-
534 Redwood Ave Milpitas, 1
- 4 beds 2 baths ∙ 1,565 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,565 Sqft ∙ Built 1960
- Rent
- Rent Per SQFT
- $0
- $0.00
-
1830 Vegas Ave Milpitas, 2
- 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954
LEASED 01/01/20- Rent
- Rent Per SQFT
- $3,000
- $2.22
-
994 Pescadero St Milpitas, 3
- 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1977
LEASED 08/12/20- Rent
- Rent Per SQFT
- $3,600
- $2.32
PROPERTY LISTING DETAILS
Keller Williams Realty-silicon Valley
