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1770 Almond Ave Walnut Creek, CA 94596

3 Beds 1 Baths 1,062 sqft Built 1910

INVESTimate

$1,098,000

List Price

$3,290

$3,040 - $3,540

Rent Est.

$1,181,119  ( +7.57%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1910
  • Price/Sqft : $1,033.90
  • 3 Days on Market
  • MLS # : MR40918095
  • Updated Date : 08/25/2020 at 03:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,062 sqft
  • Baths : 1 full
Listing Agent

Ormiston, Robert E., Broker

Listing Agent's Description

Best downtown Walnut Creek Location. Walk to BART and all of downtown Walnut Creek. Close by 680/24. Quiet Street. Spacious flat fenced lot. Walkscore of 86. Light and bright. Great home with investment and development potential. Remodel and expand existing home, and add up to two more units. Home includes approved plans to expand home and add two units (ADU's): remodeling and expanding existing house to 1,255 sf with 3 bed/2 bath, an attached 423 sf Junior ADU with 1 bed/1 bath (second floor addition), and an 800 sf detached ADU with 2 bed/2 bath. The main home can also be used as a 1,678 SF home (4 bedrooms and 3 baths). In total there will be 6 bedrooms/5 baths and 2,478 square feet and a two car garage. Close escrow when plans approved. Live in the main house and rent out the two ADU's and most of the mortgage will be paid for.

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PRICE & RENT TRENDS

Neighborhood: Downtown Walnut Creek

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $241k1078k

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

Neighborhood: Downtown Walnut Creek

NeighborhoodNIR Market*CityMarket2010Year20012019 Q21600180020002200240026002800300032003400360038004000Rent in $15334076

* 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
Buena Vista Elementary School Primary Regular 546 24 7
Walnutcreek Intermediate School Middle Regular 1,219 48 8
Las Lomas High School High Regular 1,541 75 9

Buena Vista Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 24
7
GreatSchools Rating

Walnutcreek Intermediate School

  • Education Level: Middle
  • # of students: 1,219
  • # of teachers: 48
8
GreatSchools Rating

Las Lomas High School

  • Education Level: High
  • # of students: 1,541
  • # of teachers: 75
9
GreatSchools Rating
 

$988,200$1,207,800$1,098,000

PURCHASE PRICE

$2,961$3,619$3,290

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-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

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 $3,290
EXPENSES Loan Payment -$4,051
Property Tax -$1,176
Property Insurance -$53
Property Management Fees -$161
CASH FLOW
-$2,151

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.

$1,098,000

PROJECTED PRICE

$3,290

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 7.57%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$296,720

INVESTMENT

$296,720

Down Payment
$274,500
Rehab Estimate
$5,750
Closing Costs
$16,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $274,500
Loan Amount $823,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$60

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
  • $3,101

    COMP ESTIMATED VALUE
  • $2.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,500
$3,500
RENT COMPS ANALYSIS
  • 1770 Almond Ave Walnut Creek, 1
    • 3 beds 1 baths ∙ 1,062 Sqft ∙ Built 1910 3 beds 1 baths ∙ 1,062 Sqft ∙ Built 1910
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1971 Almond Ave. Oakland Walnut Creek, 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1900 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1900
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.92
    •  
PROPERTY LISTING DETAILS
Robert Ormiston
Ormiston, Robert E., Broker
BESbswy