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PROPERTY INFO
FACTS
- Single Family
- Built In 1946
- Price/Sqft : $867.55
- 3 Days on Market
- MLS # : BE40934391
- Updated Date : 01/16/2021 at 16:40
CONSTRUCTION
- Beds : 3
- Floor Size : 1,510 sqft
- Baths : 2 full
Listing Agent
Alberts Realty
Listing Agent's Description
This 3/2 family home with attached ADU, lives more like a 4/3. ADU has separate entrance via shared laundry room. You'll love driving down your beautiful tree lined street to your newly installed (2020) redwood fence with automatic gate opening to an expanded driveway accommodating up to 4 cars. This home has such warm curb appeal. These thoughtful additions can be found throughout the home and include; auto sprinklers & drip irrigation in front & back, 100 sqft shed on side of home, garden shed in back, 80 sqft of storage in attic, 4-zone whole house mini split ac/heating system (installed 2019), and centrally located modem. Hardwood floors under the carpet in every room but the master, and new ABS sewer pipes from front of home to street. As for location, it's a 20min walk and 5min bike ride to downtown RWC, 5min walk to Costco, Sigonas Farmers Mkt, OSH & 15min walk to Stanford's new RWC campus. This is the family home you've been looking for, set up a viewing ASAP bc it won't last!
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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: Redwood Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Redwood Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,520 |
| EXPENSES | Loan Payment | -$4,550 |
| Property Tax | -$1,408 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$176 | |
|
CASH FLOW
-$1,680
|
||
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.
$1,310,000
PROJECTED PRICE
$4,520
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.98% |
| Appreciation Year (1-5) | 12.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.18% |
| 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
$352,900
LOAN DETAILS
$4,550
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $327,500 |
| Loan Amount | $982,500 |
0.33
YEARS SAVED
$1,354
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,520
LIST RENT -
$2.81
LIST RENT PER SQFT
-
$4,943
COMP ESTIMATED VALUE -
$3.07
COMP AVG. RENT PER SQFT
Comps Range
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543 Flynn Redwood City, CA 4
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- Rent
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- $4,520
- $2.81
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1002 King St Redwood City, CA 1
- 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
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1124 Grand St Redwood City, CA 2
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1953
LEASED 06/10/20- Rent
- Rent Per SQFT
- $4,200
- $3.11
-
552 Marsh Rd Menlo Park, CA 3
- 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1952
LEASED 11/11/19- Rent
- Rent Per SQFT
- $4,400
- $3.12
-
514 Carlos Ave Redwood City, CA 5
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1965
LEASED 01/08/21- Rent
- Rent Per SQFT
- $4,900
- $3.27
PROPERTY LISTING DETAILS
Alberts Realty
