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756 8th Ave Redwood City, CA 94063

3 Beds 1 Baths 1,080 sqft Built 1954

$1,199,888

List Price

$3,730

$3.5K - $4K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $1,111.01
  • 7 Days on Market
  • MLS # : ML81819624
  • Updated Date : 11/11/2020 at 09:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,080 sqft
  • Baths : 1 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Ready-Set-Move In. Delightful Home. GREAT Curb Appeal. Pride of Ownership. Brand New Composition Shingle Roof, New Exterior Paint. Owner Paid for Home Protection Plan. Raised front porch and paver courtyard. Inviting formal Living Room with wood burning fireplace. Adjoining formal Dining Area. Cheerful Eat-In Kitchen with plenty of tile counter space, warm wood cabinets, time saving appliances. Attached Two Car Garage with Laundry Area and extra Storage. 3 good sized Bedrooms, 1 full Bathroom with shower over the soaking tub. Handsome Hardwood Floors throughout. Middle Bedroom offers access to rear covered semi-enclosed deck that nicely extends the living area. Park-like Rear Yard with lush lawn, mature shrubs and trees. Convenient location, near shopping, schools and transportation. Near Stanford and Kaiser Medical. Near the Post Office on Broadway, and Marsh Manor Shopping Center, Nestled in one of the last affordable Redwood City Neighborhoods.

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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: North Fair Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $349k1433k

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

Neighborhood: North Fair Oaks

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $13105138

* 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
Taft Community School Primary Regular 524 22 4
John F. Kennedy Middle School Middle Regular 728 36 5
Sequoia High School High Regular 2,135 109 6

Taft Community School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 22
4
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
 

$1,079,899$1,319,877$1,199,888

PURCHASE PRICE

$3,357$4,103$3,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,730
EXPENSES Loan Payment -$4,427
Property Tax -$1,322
Property Insurance -$53
Property Management Fees -$145
CASH FLOW
-$2,217

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.

$1,199,888

PROJECTED PRICE

$3,730

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.98%
Appreciation Year (1-5) 11.5%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,720

INVESTMENT

$323,720

Down Payment
$299,972
Rehab Estimate
$5,750
Closing Costs
$17,998

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,427

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,972
Loan Amount $899,916
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,730

    LIST RENT
  • $3.45

    LIST RENT PER SQFT
  • $3,737

    COMP ESTIMATED VALUE
  • $3.46

    COMP AVG. RENT PER SQFT
Comps Range
$3,625
1$3,6252$3,7303$4,1004$4,200
$4,200
RENT COMPS ANALYSIS
  • 756 8th Ave Redwood City, CA 2
    • 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,730
    • $3.45
    •  
  • 1053 Jones Ct Redwood City, CA 1
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1940
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,625
    • $3.24
    •  
  • 3759 Bay Rd Menlo Park, CA 3
    • 3 beds 1 baths ∙ 1,070 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,070 Sqft ∙ Built 1950
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $3.83
    •  
  • 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
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.31
    •  
PROPERTY LISTING DETAILS
David Blewett
Intero Real Estate Services
BESbswy