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738 Vernal Way Redwood City, CA 94062

4 Beds 2 Baths 2,430 sqft Built 1951

$1,998,000

List Price

$5,930

$5.7K - $6.2K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $822.22
  • 6 Days on Market
  • MLS # : ML81819542
  • Updated Date : 11/11/2020 at 08:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,430 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Bay Views in this idyllic & secluded Emerald Hills location. Located up off the street w/ plenty of off street parking. Formal entryway-vaulted ceilings in the living room w/wood-burning fireplace-hardwood floors throughout- formal dining room off the kitchen w/breakfast bar-gas cook-top-pantry-2 bedrooms 1 bath on this floor-upstairs you will find the master suite w/window seat-walk-in closet-dual sinks-tub-shower-the front bedroom w/double doors & the 5th bonus room-spacious hallway w/built-in shelves. Off the kitchen is the spacious deck-perfect for indoor/outdoor entertaining-BBQ ing- climb the short stairs to the 2nd deck-lawn-dog enclosure & paver patio w/awesome Bay views!!!! Award winning Roy Cloud School is close by- Easy access to Hwy 280- Storage room under house-1 car garage w/side storage area + carport

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Emerald Lake

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000kPrice in $450k2065k

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

Neighborhood: Emerald Lake

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q225003000350040004500500055006000Rent in $20036039

* 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
Roy Cloud Elementary School Primary Regular 776 29 8
Roy Cloud Elementary School Middle Regular 776 29 8
Woodside High School High Magnet 1,815 106 7

Roy Cloud Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 29
8
GreatSchools Rating

Roy Cloud Elementary School

  • Education Level: Middle
  • # of students: 776
  • # of teachers: 29
8
GreatSchools Rating

Woodside High School

  • Education Level: High
  • # of students: 1,815
  • # of teachers: 106
7
GreatSchools Rating
 

$1,798,200$2,197,800$1,998,000

PURCHASE PRICE

$5,337$6,523$5,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,930
EXPENSES Loan Payment -$7,372
Property Tax -$2,256
Property Insurance -$86
Property Management Fees -$231
CASH FLOW
-$4,015

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.

$1,998,000

PROJECTED PRICE

$5,930

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
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$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$70k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$535,220

INVESTMENT

$535,220

Down Payment
$499,500
Rehab Estimate
$5,750
Closing Costs
$29,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,372

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $499,500
Loan Amount $1,498,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$62

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,930

    LIST RENT
  • $2.44

    LIST RENT PER SQFT
  • $6,324

    COMP ESTIMATED VALUE
  • $2.6

    COMP AVG. RENT PER SQFT
Comps Range
$5,600
1$5,6002$5,9003$5,9304$6,8005$7,000
$7,000
RENT COMPS ANALYSIS
  • 738 Vernal Way Redwood City, CA 3
    • 4 beds 2 baths ∙ 2,430 Sqft ∙ Built 1951 4 beds 2 baths ∙ 2,430 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $5,930
    • $2.44
    •  
  • 2901 Franciscan Ct San Carlos, CA 1
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 1957 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 1957
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,600
    • $2.46
    •  
  • 3639 Country Club Dr Redwood City, CA 2
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1959
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,900
    • $2.40
    •  
  • 920 Pleasant Hill Rd Redwood City, CA 4
    • 4 beds 4 baths ∙ 2,590 Sqft ∙ Built 1956 4 beds 4 baths ∙ 2,590 Sqft ∙ Built 1956
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,800
    • $2.63
    •  
  • 925 Durlston Rd Redwood City, CA 5
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1951 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1951
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,000
    • $2.92
    •  
PROPERTY LISTING DETAILS
Michelle Glaubert
Coldwell Banker Realty
BESbswy