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612 Teredo Dr Redwood City, CA 94065

4 Beds 3 Baths 1,540 sqft Built 1971

INVESTimate

$1,780,000

List Price

$4,800

$4,550 - $5,050

Rent Est.

$1,977,758  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $1,155.84
  • 2 Days on Market
  • MLS # : ML81807700
  • Updated Date : 08/25/2020 at 14:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,540 sqft
  • Baths : 3 full
Listing Agent

Green Banker Realty

Listing Agent's Description

This charming 2 Story single-family home is situated in the Marlin Park neighborhood of Redwood City. This house features 4 bedrooms, 3 baths, (1 of the bedrooms next to the kitchen is currently used as a separate dining room), 2 car garage, and a spacious, well-maintained fenced backyard that is perfect for some outdoor activities. This house with a 1,540 sqft+/- living space welcomes you with its cozy living room that features a fireplace and hardwood flooring that can be found throughout the home. The family room and the delightful kitchen with plenty of cabinets for storage, stainless steel appliances, and granite countertops share a bright open floor plan. Conveniently nearby several schools, medical centers, fitness centers, shops, groceries, and restaurants. Minutes away to mariner park, and other outdoor recreational areas. Easy access to Highway 101, and close by to the San Carlos Airport.

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: Marlin

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $445k1803k

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

Neighborhood: Marlin

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q22000250030003500400045005000Rent in $17055289

* 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
Ralston Middle School Middle Regular 1,130 49 9
Carlmont High School High Regular 2,183 107 9

Ralston Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 49
9
GreatSchools Rating

Carlmont High School

  • Education Level: High
  • # of students: 2,183
  • # of teachers: 107
9
GreatSchools Rating
 

$1,602,000$1,958,000$1,780,000

PURCHASE PRICE

$4,320$5,280$4,800

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-$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$6.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,800
EXPENSES Loan Payment -$6,567
Property Tax -$1,697
Property Insurance -$64
Property Management Fees -$187
CASH FLOW
-$3,716

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.

$1,780,000

PROJECTED PRICE

$4,800

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.11%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$477,450

INVESTMENT

$477,450

Down Payment
$445,000
Rehab Estimate
$5,750
Closing Costs
$26,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,567

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $445,000
Loan Amount $1,335,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$71

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,800

    LIST RENT
  • $3.12

    LIST RENT PER SQFT
  • $4,743

    COMP ESTIMATED VALUE
  • $3.08

    COMP AVG. RENT PER SQFT
Comps Range
$4,700
1$4,7002$4,7503$4,8004$5,0005$5,500
$5,500
RENT COMPS ANALYSIS
  • 612 Teredo Dr Redwood City, 3
    • 4 beds 3 baths ∙ 1,540 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,540 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.12
    •  
  • 32 Williams Ln Foster City, 1
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1986
    property image
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $2.81
    •  
  • 117 Williams Ln Foster City, 2
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1986
    property image
    LEASED 04/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $3.06
    •  
  • 18 Bayport Ct San Carlos, 4
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1987
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $3.52
    •  
  • 604 San Nicholas Ln Foster City, 5
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1977
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.93
    •  
PROPERTY LISTING DETAILS
Stanley Lo
Green Banker Realty
BESbswy