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1648 Lower Grand Ave Piedmont, CA 94611

2 Beds 1 Baths 1,557 sqft Built 1921

$1,295,000

List Price

$4,610

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1921
  • Price/Sqft : $831.73
  • 3 Days on Market
  • MLS # : EB40928650
  • Updated Date : 11/14/2020 at 16:48
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,557 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Light, sunny spaces showcase the Craftsman details of this charming 1921 home in the picturesque Piedmont neighborhood. On the raised front porch, a colorful front door opens to a spacious, sun-filled living/dining room and its welcoming fireplace. Decorative built-ins, dark hardwood floors, and a playful color palette create a warm ambience. In the updated kitchen, a cozy breakfast nook with beadboard walls sets a subtle period tone. Off the skylit upper hallway, two bedrooms overlook the leafy back yard and patio. Downstairs, a bonus flex space presents myriad possibilities. The home is moments away from shopping and dining on Piedmont, Grand, and Lakeshore Avenues. The Transbay bus, local bus lines to BART, and casual carpool are close by. The home is served by top-rated Piedmont schools including Beach Elementary School. This is a lovingly cared for, warm and welcoming refuge, just now entering its second century of sparkling life.

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PRICE & RENT TRENDS

Neighborhood: Piedmont

NeighborhoodNIR Market*CityMarket2010Year20002019400k600k800k1000k1200k1400k1600k1800k2000kPrice in $273k2029k

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

Neighborhood: Piedmont

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2200025003000350040004500500055006000Rent in $16716349

* 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
Piedmont Middle School Middle Regular 645 37 10
Piedmont High School High Regular 784 43 10

Piedmont Middle School

  • Education Level: Middle
  • # of students: 645
  • # of teachers: 37
10
GreatSchools Rating

Piedmont High School

  • Education Level: High
  • # of students: 784
  • # of teachers: 43
10
GreatSchools Rating
 

$1,165,500$1,424,500$1,295,000

PURCHASE PRICE

$4,149$5,071$4,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,610
EXPENSES Loan Payment -$4,778
Property Tax -$1,538
Property Insurance -$65
Property Management Fees -$226
CASH FLOW
-$1,996

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.

$1,295,000

PROJECTED PRICE

$4,610

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.22%
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-$20k-$10k$0.0$10k

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$348,925

INVESTMENT

$348,925

Down Payment
$323,750
Rehab Estimate
$5,750
Closing Costs
$19,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,778

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $323,750
Loan Amount $971,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$495

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $4,610

    LIST RENT
  • $2.96

    LIST RENT PER SQFT
  • $4,873

    COMP ESTIMATED VALUE
  • $3.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$4,6103$5,4004$5,500
$5,500
RENT COMPS ANALYSIS
  • 1648 Lower Grand Ave Piedmont, CA 2
    • 2 beds 1 baths ∙ 1,557 Sqft ∙ Built 1921 2 beds 1 baths ∙ 1,557 Sqft ∙ Built 1921
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,610
    • $2.96
    •  
  • 900 Macarthur Blvd A Oakland, CA 1
    • 2 beds 1 baths ∙ 1,400 Sqft ∙ Built 1922 2 beds 1 baths ∙ 1,400 Sqft ∙ Built 1922
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.89
    •  
  • 29 Dormidera Ave Piedmont, CA 3
    • 2 beds 2 baths ∙ 1,456 Sqft ∙ Built 1924 2 beds 2 baths ∙ 1,456 Sqft ∙ Built 1924
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,400
    • $3.71
    •  
  • 5274 Lawton Ave Main Unit Oakland, CA 4
    • 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1930 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1930
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $3.79
    •  
PROPERTY LISTING DETAILS
Anna Bahnson
Compass
BESbswy