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816 7th Ave Redwood City, CA 94063

3 Beds 2 Baths 1,280 sqft Built 1947

INVESTimate

$1,198,000

List Price

$4,290

$4,040 - $4,540

Rent Est.

$1,364,762  ( +13.92%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1947
  • Price/Sqft : $935.94
  • 5 Days on Market
  • MLS # : ML81807342
  • Updated Date : 08/25/2020 at 11:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,280 sqft
  • Baths : 2 full
Listing Agent

Blockhouse Real Estate Inc.

Listing Agent's Description

Sophisticated, detailed, updated home with 3 bedrooms and 2 bathrooms in approximately 1280sqft on 5450sqft landscaped lot. Enter through the manicured front yard with flagstone walkway guided to the perfect front porch. Enjoy the fireplace and tv in living room that opens to the dining room and kitchen. Updated spacious kitchen with quartz countertops has easy access to lush backyard; wonderful for entertaining. True California living in backyard with generous patio, lawn, planter boxes for gardening, and space for more. Well-appointed master suite with access to patio; separate hallway leads to two bedrooms and main bathroom. Freshly painted inside and out, recent flooring, and upgraded fixtures. Attached and finished one-car garage with laundry room including washer and dryer. Excellent and quiet location close to groceries, shopping, restaurants. Convenient to Facebook, Stanford, Amazon, and others. Easy access to 101, 84.

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: Redwood Manor

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $339k1433k

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

Neighborhood: Redwood Manor

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q215002000250030003500400045005000Rent in $12325138

* 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
 

$1,078,200$1,317,800$1,198,000

PURCHASE PRICE

$3,861$4,719$4,290

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

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,290
EXPENSES Loan Payment -$4,420
Property Tax -$1,319
Property Insurance -$58
Property Management Fees -$167
CASH FLOW
-$1,675

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.

$1,198,000

PROJECTED PRICE

$4,290

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.98%
Appreciation Year (1-5) 13.92%
Maintenance Year (1-5) 8.00%
Vacancy 6.18%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,220

INVESTMENT

$323,220

Down Payment
$299,500
Rehab Estimate
$5,750
Closing Costs
$17,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,500
Loan Amount $898,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,156

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
  • $4,282

    COMP ESTIMATED VALUE
  • $3.35

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,2003$4,4004$4,5005$4,600
$4,600
RENT COMPS ANALYSIS
  • 816 7th Ave Redwood City, 1
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 816 6th Ave Redwood City, 2
    • 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
    •  
  • 552 Marsh Rd Menlo Park, 3
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1952
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $3.12
    •  
  • 1111 17th Ave Redwood City, 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1947
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.33
    •  
  • 477 6th Ave Menlo Park, 5
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1932
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.62
    •  
PROPERTY LISTING DETAILS
Brian Pugh
Blockhouse Real Estate Inc.
BESbswy