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714 Scott Ave Redwood City, CA 94063

3 Beds 2 Baths 1,090 sqft Built 1946

$1,149,888

List Price

$3,600

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1946
  • Price/Sqft : $1,054.94
  • 6 Days on Market
  • MLS # : ML81818592
  • Updated Date : 11/07/2020 at 11:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,090 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Pride of Ownership/great front Curb Appeal, Low maintenance front landscaping w/secure fence+lockable gate, covered front porch nicely extends living area, LR w/wood burning fireplace+adjoining formal Dining Room boast handsome hardwood floors and dramatic beveled ceilings,Cooking will be a joy in the open Gourmet Kitchen, with/dark wood Shaker style cabinets,Quartz counters,Stainless steel appliances including Whirlpool gas cooktop. Storage galore w/the step down pantry area, 1 One Car Garage was converted to Bonus Room, currently used as a Den. the front area of the garage offers extra storage, 3 restful Bedrooms & 2 sparkling Bathrooms, big rear yard w/covered patio & laundry area. Low maintenance w/patio areas for relaxing, casual entertaining, children & pets at play, not 1 but 2 separate accessory units, perfect for home schooling or home office, Desired location,near schools, shopping, Costco, Post Office, Sigona's, down town Broadway & transportation,Classy Home=classy buyers!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Redwood Village

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $330k1433k

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

Neighborhood: Redwood Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $12645138

* 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
Hoover Elementary School Primary Regular 787 32 5
Hoover Elementary School Middle Regular 787 32 5
Sequoia High School High Regular 2,135 109 6

Hoover Elementary School

  • Education Level: Primary
  • # of students: 787
  • # of teachers: 32
5
GreatSchools Rating

Hoover Elementary School

  • Education Level: Middle
  • # of students: 787
  • # of teachers: 32
5
GreatSchools Rating

Sequoia High School

  • Education Level: High
  • # of students: 2,135
  • # of teachers: 109
6
GreatSchools Rating
 

$1,034,899$1,264,877$1,149,888

PURCHASE PRICE

$3,240$3,960$3,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$4,243
Property Tax -$1,236
Property Insurance -$53
Property Management Fees -$140
CASH FLOW
-$2,072

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.

$1,149,888

PROJECTED PRICE

$3,600

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,470

INVESTMENT

$310,470

Down Payment
$287,472
Rehab Estimate
$5,750
Closing Costs
$17,248

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,472
Loan Amount $862,416
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$43

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
  • $3,589

    COMP ESTIMATED VALUE
  • $3.29

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,6003$3,6254$4,2005$4,600
$4,600
RENT COMPS ANALYSIS
  • 714 Scott Ave Redwood City, CA 1
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 119 Park St Front Unit Redwood City, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1942
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.00
    •  
  • 1053 Jones Ct Redwood City, CA 3
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1940
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,625
    • $3.24
    •  
  • 816 6th Ave Redwood City, CA 4
    • 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1948
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.31
    •  
  • 477 6th Ave Menlo Park, CA 5
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1932
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.62
    •  
PROPERTY LISTING DETAILS
David Blewett
Intero Real Estate Services
BESbswy