420 CEDAR St Redwood City, CA 94063 – A good deal?
420 CEDAR St Redwood City, CA 94063
Price: $425,000
| Beds: | 5 |
| Baths: | 2 |
| Sq. Ft.: | 1,800 |
| $/Sq. Ft.: | $236 |
| Lot Size: | 5,000 Sq. Ft. |
| Year Built: | 1950 |
| Stories: | 1 |
| Neighborhood: | Dumbarton |
Last sale: May 23, 2001 Sold $592,500 – Yup.. it’s down from 2001!!
Loss if sold for asking: $167500 or 28.3%
This property has been on the market for about 9 months now. It is a duplex and the smaller unit actually pulls in $1400 in rent. This could be a good deal for someone with the downpayment. Here are the calculations:
Downpayment: 20% = 85,000
Loan: $340,000
Terms: 5.25% fixed – This is a duplex so you could qualify for primary residence rates if you live in half of it.
Monthly mortgage: $1877.49
Income: $1400
Taxes: Approximately 1.1% so it’s about $400 a month.
Insurance: $50 a month or $600 a year as an estimate.
So if you live in half of it and collect the rent, then you would be spending around $1027.49 a month to own this. Additionally, you can deduct the mortgage interest on the portion you live in. This could be a good deal provided that the house isn’t super trashed. It is in the area near Redwood City downtown, and it can be a little sketchy at night I guess, but the neighborhood isn’t horrible. I’m convinced that there is something else wrong with this place. It is a short sale, and banks have been notoriously slow in responding to offers, and maybe that’s why it still hasn’t sold.
418 YORKSHIRE Way Belmont, CA 94002
418 YORKSHIRE Way Belmont, CA 94002
Price: $577,900
| Beds: | 3 |
| Baths: | 1 |
| Sq. Ft.: | 1,010 |
| $/Sq. Ft.: | $572 |
| Lot Size: | 5,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Year Built: | 1953 |
| Stories: | 1 |
| Neighborhood: | Homeview/ |
| County: | San Mateo |
| MLS#: | 80849100 |
| Source: | MLSListings |
| Status: | Active |
| On Redfin: | 1 day |
Last sale:
| Jan 10, 2007 | Sold | $780,000 |
This listing first came up in May for $650k, and then it probably got foreclosed on, and now it’s back on the market as a REO for around 70k less than the May price. That’s a decent discount of $10k per month, but it’s still $572 per square foot.
2 ZACHARY Ct Menlo Park, CA 94025 – Almost Rolled Back to Original 2001 Price
2 ZACHARY Ct Menlo Park, CA 94025
Price: $2,570,000
| Beds: | 6 |
| Baths: | 4 |
| Sq. Ft.: | 4,267 |
| $/Sq. Ft.: | $602 |
| Lot Size: | 10,080 Sq. Ft. |
| Age (Years): | 7 |
| Year Built: | 2001 |
| Type: | Detached Single Family |
Last sale price: Oct 31, 2001 $2,500,000
Original list price: May 12, 2008 $2,950,000
After 3 months on the market and almost $400k in price reductions, this house is now listed for less than 3% above its 2001 price. This is in the prime area of west Menlo Park west of Alameda de Las Pulgas.
71 BAYPARK Cir South San Francisco, CA 94080
71 BAYPARK Cir South San Francisco, CA 94080
Price: $949,888
| Beds: | 4 |
| Baths: | 2.5 |
| Sq. Ft.: | 2,410 |
| $/Sq. Ft.: | $394 |
| Lot Size: | 7,474 Sq. Ft. |
| Age (Years): | 11 |
| Year Built: | 1997 |
| Type: | Detached Single Family |
Last sale: Nov 17, 2004 $985,000
Loss if sold for asking: $35112 or 3.6%
This home still has an assessment above $1 million but it is under its sale price in 2004. Inflation adjusted it is under the 2003 price. It is fairly large and is only 11 years old. You would think that they would post a few pictures of the property at this price point, but nope, all we have is the street view photo.
912 TOYON Dr Burlingame, CA 94010
912 TOYON Dr Burlingame, CA 94010
Price: $650,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 1,020 |
| $/Sq. Ft.: | $637 |
| Lot Size: | 5,000 Sq. Ft. |
| Age (Years): | 68 |
| Year Built: | 1940 |
| Type: | Detached Single Family |
| Style: | Ranch, Cottage/Bungalow |
Listing history:
| Date | Price |
| May 16, 2008 | $818,000 |
| May 19, 2008 | $798,000 |
| Jun 10, 2008 | $699,000 |
| Jun 12, 2008 | $650,000 |
Last sale: Jul 15, 2004 $682,000
Loss if sold for asking: $32,000 or 4.7%
Wow, this Burlingame home just got reduced to pre-2004. It is staged and the pictures look great, but don’t be fooled, it’s about 3 houses from the 101.
2012 PULGAS Ave East Palo Alto, CA 94303
2012 PULGAS Ave East Palo Alto, CA 94303
Price: $399,999
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,560 |
| $/Sq. Ft.: | $256 |
| Lot Size: | 6,200 Sq. Ft. |
| Age (Years): | 57 |
| Year Built: | 1951 |
| Type: | Detached Single Family |
Last sale: Feb 14, 2006 $720,000
Loss if sold for asking: $320,001 or 44.4%
Most new listings coming out EPA are troubled properties now, and the average cuts are huge.
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