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1424 Stannage Ave Berkeley, CA 94702

3 Beds 2 Baths 1,284 sqft Built 1908

$1,095,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1908
  • Price/Sqft : $852.80
  • 2 Days on Market
  • MLS # : EB40927637
  • Updated Date : 11/02/2020 at 20:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,284 sqft
  • Baths : 2 full
Listing Agent

Caldecott Properties

Listing Agent's Description

1424 Stannage is an eloquently remodeled 1908 bungalow located in Berkeley's Westbrae neighborhood. The open floor plan, vaulted ceilings, large windows and bank of sky lights create a bright and welcoming modern home! The extensive renovation was done from the floors to the roof and includes a new kitchen, bathrooms, windows, electrical and HVAC systems. A newly constructed detached studio (ADU) offers an added living area, in-law unit or incredibly private office. The bathrooms and kitchen are tastefully appointed and the property even has air conditioning for those warm summer days. An enclosed rear yard is easy to maintain with field turf, strung caf� lights, and a great patio space for outdoor entertaining and relaxing.� With a WalkScore of 89, the central Westbrae location provides easy access to some of Berkeley's most coveted establishments like Monterey Market, Gioia Pizzeria, REI, Philz, Westbrae Biergarten, and Kermit Lynch. North Berkeley BART is less than a mile away!

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PRICE & RENT TRENDS

Neighborhood: Westbrae

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $273k1200k

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

Neighborhood: Westbrae

NeighborhoodNIR Market*CityMarket2010Year20012019 Q21600180020002200240026002800300032003400360038004000Rent in $16004198

* 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
Jefferson Elementary School Primary Regular 392 19 8
Martin Luther King Jr. Middle School Middle Regular 957 48 8
Berkeley High School High Regular 3,182 166 8

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 392
  • # of teachers: 19
8
GreatSchools Rating

Martin Luther King Jr. Middle School

  • Education Level: Middle
  • # of students: 957
  • # of teachers: 48
8
GreatSchools Rating

Berkeley High School

  • Education Level: High
  • # of students: 3,182
  • # of teachers: 166
8
GreatSchools Rating
 

$985,500$1,204,500$1,095,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$4,040
Property Tax -$1,305
Property Insurance -$58
Property Management Fees -$177
CASH FLOW
-$1,960

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.

$1,095,000

PROJECTED PRICE

$3,620

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
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$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

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

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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$295,925

INVESTMENT

$295,925

Down Payment
$273,750
Rehab Estimate
$5,750
Closing Costs
$16,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $273,750
Loan Amount $821,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$98

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
  • $4,220

    COMP ESTIMATED VALUE
  • $3.29

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,2003$4,2994$4,500
$4,500
RENT COMPS ANALYSIS
  • 1424 Stannage Ave Berkeley, CA 1
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1908 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1908
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1042 Peralta Ave Albany, CA 2
    • 3 beds 2 baths ∙ 1,187 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,187 Sqft ∙ Built 1928
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.54
    •  
  • 1010 Cragmont 2 Berkeley, CA 3
    • 3 beds 1 baths ∙ 1,428 Sqft ∙ Built 1916 3 beds 1 baths ∙ 1,428 Sqft ∙ Built 1916
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,299
    • $3.01
    •  
  • 725 Coventry Rd Kensington, CA 4
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1920
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.31
    •  
PROPERTY LISTING DETAILS
Conner Applegate
Caldecott Properties
BESbswy