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1018 Pearl St Alameda, CA 94501

4 Beds 2 Baths 1,853 sqft Built 1923

INVESTimate

$1,100,000

List Price

$4,260

$4,010 - $4,510

Rent Est.

$1,205,380  ( +9.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1923
  • Price/Sqft : $593.63
  • 6 Days on Market
  • MLS # : BE40917660
  • Updated Date : 08/24/2020 at 03:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,853 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

This one checks all the boxes. Alameda's East End 1920's home with four bedrooms and two baths. The living room has charming bowed windows bringing in tons of natural light. Tray ceilings in the front rooms, built-ins like a secretarial desk, book cabinet, full dining sideboard and the mantle board are all gorgeous wood. Kitchen has new counters, backsplash and flooring. The breakfast nook makes for a great "extra" space that can be an office or play area. The downstairs was renovated by previous owner with two bedrooms and a luxurious bathroom. Upstairs both bedrooms access the Mediterranean tiled deck overlooking your green haven. Tropical landscaping in the front distincts the home on a quiet street, close to Alameda's downtown, beach, schools and parks.

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PRICE & RENT TRENDS

Neighborhood: East End

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $273k1081k

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

Neighborhood: East End

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2180020002200240026002800300032003400360038004000Rent in $16364030

* 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
Frank Otis Elementary School Primary Regular 588 23 7
Lincoln Middle School Middle Regular 900 41 9
Alameda High School High Regular 1,746 74 9

Frank Otis Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 23
7
GreatSchools Rating

Lincoln Middle School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 41
9
GreatSchools Rating

Alameda High School

  • Education Level: High
  • # of students: 1,746
  • # of teachers: 74
9
GreatSchools Rating
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,834$4,686$4,260

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,260
EXPENSES Loan Payment -$4,059
Property Tax -$1,285
Property Insurance -$72
Property Management Fees -$209
CASH FLOW
-$1,364

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$1,100,000

PROJECTED PRICE

$4,260

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.58%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,059

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$4,868

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
  • $4,355

    COMP ESTIMATED VALUE
  • $2.35

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,900
$3,900
RENT COMPS ANALYSIS
  • 1018 Pearl St Alameda, 1
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1923 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1923
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • Central Ave Alameda, 2
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1927
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.35
    •  
PROPERTY LISTING DETAILS
Sharon Alva
Compass
BESbswy