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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
$477,450
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PROPERTY INFO
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.
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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: Marlin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Marlin
* 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 | $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
| 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
INVESTMENT
$477,450
LOAN DETAILS
$6,567
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $445,000 |
| Loan Amount | $1,335,000 |
-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
-
612 Teredo Dr Redwood City, 3
- 4 beds 3 baths ∙ 1,540 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,540 Sqft ∙ Built 1971
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- 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
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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
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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
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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
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LEASED 07/13/20- Rent
- Rent Per SQFT
- $5,500
- $2.93
PROPERTY LISTING DETAILS
Green Banker Realty
