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607 Hawes St Redwood City, CA 94061

3 Beds 3 Baths 1,550 sqft Built 1930

INVESTimate

$1,498,000

List Price

$4,350

$4,100 - $4,600

Rent Est.

$1,719,554  ( +14.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1930
  • Price/Sqft : $966.45
  • 7 Days on Market
  • MLS # : ML81807036
  • Updated Date : 08/20/2020 at 14:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,550 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Redwood City 3BR/2.5BA ranch home on prime 3,400 sq ft corner lot shines inside & out. Central location on the Peninsula means walking to school in the morning and easily commuting. Welcoming tiled porch & entry sit beyond landscaped front yard w/ notable agave. Homes spacious living areas perfect for gathering around stone fireplace. Fresh paint accents homes hardwood floors and plantation shutters. Kitchen boasts cherry wood cabinetry, generous countertops & stainless steel appliances. Mud room w/ laundry and attached 1-car garage. Trex deck for enjoying the ideal weather. Walk to Red Morton Parks tennis courts, baseball field, skate park and all the many popular rec center activities. Minutes from Whole Foods and downtown Redwood City shopping and dining. Easily commute via Highway 101 or Caltrain from this convenient Mid-Peninsula location. Virtual tour at www.607Hawes.com

SEE MORE

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: Roosevelt

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $392k1450k

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

Neighborhood: Roosevelt

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $14545138

* 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
 

$1,348,200$1,647,800$1,498,000

PURCHASE PRICE

$3,915$4,785$4,350

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$6.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,350
EXPENSES Loan Payment -$5,527
Property Tax -$1,373
Property Insurance -$65
Property Management Fees -$170
CASH FLOW
-$2,784

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.

$1,498,000

PROJECTED PRICE

$4,350

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.79%
Maintenance Year (1-5) 8.00%
Vacancy 5.61%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$402,720

INVESTMENT

$402,720

Down Payment
$374,500
Rehab Estimate
$5,750
Closing Costs
$22,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$5,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $374,500
Loan Amount $1,123,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$55

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $4,350

    LIST RENT
  • $2.81

    LIST RENT PER SQFT
  • $4,650

    COMP ESTIMATED VALUE
  • $3

    COMP AVG. RENT PER SQFT
Comps Range
$4,350
1$4,3502$4,3953$4,5004$4,8005$5,000
$5,000
RENT COMPS ANALYSIS
  • 607 Hawes St Redwood City, 1
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1930 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1930
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $2.81
    •  
  • 811 Madison Ave Redwood City, 2
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1950
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,395
    • $2.68
    •  
  • 825 Fulton St Redwood City, 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1925
    property image
    LEASED 04/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.33
    •  
  • 3571 Altamont Way Redwood City, 4
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1948
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.87
    •  
  • 85 Hillview Ave Redwood City, 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1924 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1924
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $3.13
    •  
PROPERTY LISTING DETAILS
Michelle Taser
Compass
BESbswy