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1159 Elmhurst Avenue Oakland, CA 94603

3 Beds 1 Baths 1,258 sqft Built 1918

$499,000

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1918
  • Price/Sqft : $396.66
  • 4 Days on Market
  • MLS # : EB40929861
  • Updated Date : 11/21/2020 at 21:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,258 sqft
  • Baths : 1 full
Listing Agent

Re/max Accord

Listing Agent's Description

Potential abounds in this spacious three bedroom bungalow on a large lot. Generous sized rooms, fireplace, original hardwood floors, eat-in kitchen, and laundry room. Lower level bonus area with separate entrance, washer/dryer hookups and plenty of storage. Long driveway provides lots of extra parking, and extends to huge backyard. A perfect property for large families.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Elmhurst Park

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $206k1015k

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

Neighborhood: Elmhurst Park

NeighborhoodNIR Market*CityMarket2010Year20012019 Q214001600180020002200240026002800300032003400Rent in $12113490

* 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
Chabot Elementary School Primary Regular 573 22 10
Hillcrest Elementary School Middle Regular 359 15 10
Oakland High School High Regular 1,515 67 5

Chabot Elementary School

  • Education Level: Primary
  • # of students: 573
  • # of teachers: 22
10
GreatSchools Rating

Hillcrest Elementary School

  • Education Level: Middle
  • # of students: 359
  • # of teachers: 15
10
GreatSchools Rating

Oakland High School

  • Education Level: High
  • # of students: 1,515
  • # of teachers: 67
5
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$1,841
Property Tax -$542
Property Insurance -$58
Property Management Fees -$149
CASH FLOW
$240

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.

$499,000

PROJECTED PRICE

$2,830

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.63%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$84,604

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
  • $2,944

    COMP ESTIMATED VALUE
  • $2.34

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8503$3,000
$3,000
RENT COMPS ANALYSIS
  • 1159 Elmhurst Avenue Oakland, CA 1
    • 3 beds 1 baths ∙ 1,258 Sqft ∙ Built 1918 3 beds 1 baths ∙ 1,258 Sqft ∙ Built 1918
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2836 23rd Avenue Oakland, CA 2
    • 3 beds 1 baths ∙ 1,150 Sqft ∙ Built 1914 3 beds 1 baths ∙ 1,150 Sqft ∙ Built 1914
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.48
    •  
  • 2031 81st Ave Oakland, CA 3
    • 4 beds 2 baths ∙ 1,363 Sqft ∙ Built 1926 4 beds 2 baths ∙ 1,363 Sqft ∙ Built 1926
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.20
    •  
PROPERTY LISTING DETAILS
Alison Matsuhara
Re/max Accord
BESbswy