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824 11th Ave Redwood City, CA 94063

2 Beds 1 Baths 1,090 sqft Built 1947

$1,275,000

List Price

$3,900

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1947
  • Price/Sqft : $1,169.72
  • 6 Days on Market
  • MLS # : ML81817924
  • Updated Date : 11/02/2020 at 13:23
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,090 sqft
  • Baths : 1 full
Listing Agent

Kw Peninsula Estates

Listing Agent's Description

A modern oasis in the center of Silicon Valley!� Enjoy comfortable living in this warm and wonderful 2 bedroom and 1 bath retreat.� Take advantage of the beautifully updated kitchen and bath, complete with industrial style appliances, tasteful design, and lots of storage.� This property is conveniently located just minutes from Marsh Manor Shopping Center, 101, and Facebook. Enjoy entertaining and relaxation in the lush, beautifully landscaped, tropical oasis in the backyard.� Redwood Citys great weather will keep you outdoors all year long. The covered patio is great for dinner parties, accompanied by a built-in gas fire pit just steps away.� Finish off your evening with a dip in the hot tub!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$1,147,500$1,402,500$1,275,000

PURCHASE PRICE

$3,510$4,290$3,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,900
EXPENSES Loan Payment -$4,704
Property Tax -$1,404
Property Insurance -$53
Property Management Fees -$152
CASH FLOW
-$2,414

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.

$1,275,000

PROJECTED PRICE

$3,900

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.98%
Appreciation Year (1-5) 13.9%
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$5.0M

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$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$343,625

INVESTMENT

$343,625

Down Payment
$318,750
Rehab Estimate
$5,750
Closing Costs
$19,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,704

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $318,750
Loan Amount $956,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$0

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
  • $4,106

    COMP ESTIMATED VALUE
  • $3.77

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,8004$4,400
$4,400
RENT COMPS ANALYSIS
  • 824 11th Ave Redwood City, CA 1
    • 2 beds 1 baths ∙ 1,090 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,090 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 427 8th Ave Menlo Park, CA 2
    • 2 beds 1 baths ∙ 780 Sqft ∙ Built 1931 2 beds 1 baths ∙ 780 Sqft ∙ Built 1931
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $3.85
    •  
  • 793 6th Ave Redwood City, CA 3
    • 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 1948 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 1948
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.49
    •  
  • 755 16th Ave Menlo Park, CA 4
    • 2 beds 2 baths ∙ 1,110 Sqft ∙ Built 1953 2 beds 2 baths ∙ 1,110 Sqft ∙ Built 1953
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $3.96
    •  
PROPERTY LISTING DETAILS
Corey Kelly
Kw Peninsula Estates
BESbswy