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2116 San Mateo St Richmond, CA 94804

2 Beds 1 Baths 1,088 sqft Built 1951

INVESTimate

$730,000

List Price

$2,870

$2,620 - $3,120

Rent Est.

$828,623  ( +13.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1951
  • Price/Sqft : $670.96
  • 6 Days on Market
  • MLS # : EB40917854
  • Updated Date : 08/21/2020 at 22:29
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,088 sqft
  • Baths : 1 full
Listing Agent

Red Oak Realty

Listing Agent's Description

Bright, updated Midcentury home with impressive views and loads of natural light. Front terrace above the garage, perfect for outdoor dining. Open floorplan living/dining room with dual-pane windows and plantation shutters. Updated kitchen, decorative tiles, glass panel cabinets, Corian countertops, skylight, laminate floor, built-in desk, and sunny breakfast nook with views of the bay and Mt Tamalpais. New Engineered hardwood floors in all rooms, except kitchen. Primary bedroom with extra-long closet and sliding glass doors to backyard deck. Laundry room with washer and dryer, pantry cabinets and access to the spacious, private backyard with large deck, planter boxes, and upslope area for planting. Oversized one car garage with tall shelving. Walking distance to many fine amenities including El Cerrito Natural Grocery, shops, restaurants, public library, and the Rialto Cinema, and less than a 5-minute drive to EC Plaza BART, I-80 and I-580.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Richmond Annex

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $198k1015k

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

Neighborhood: Richmond Annex

NeighborhoodNIR Market*CityMarket2010Year20012019 Q216001800200022002400260028003000Rent in $15173193

* 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
Fairmont Elementary School Primary Regular 569 21 4
Fred T. Korematsu Middle School Middle Regular 539 23 5
El Cerrito High School High Regular 1,364 55 5

Fairmont Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 21
4
GreatSchools Rating

Fred T. Korematsu Middle School

  • Education Level: Middle
  • # of students: 539
  • # of teachers: 23
5
GreatSchools Rating

El Cerrito High School

  • Education Level: High
  • # of students: 1,364
  • # of teachers: 55
5
GreatSchools Rating
 

$657,000$803,000$730,000

PURCHASE PRICE

$2,583$3,157$2,870

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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,693
Property Tax -$880
Property Insurance -$53
Property Management Fees -$149
CASH FLOW
-$906

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.

$730,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.51%
Maintenance Year (1-5) 8.00%
Vacancy 4.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$199,200

INVESTMENT

$199,200

Down Payment
$182,500
Rehab Estimate
$5,750
Closing Costs
$10,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,693

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,500
Loan Amount $547,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $2.64

    LIST RENT PER SQFT
  • $3,036

    COMP ESTIMATED VALUE
  • $2.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,870
$2,870
RENT COMPS ANALYSIS
  • 2116 San Mateo St Richmond, 2
    • 2 beds 1 baths ∙ 1,088 Sqft ∙ Built 1951 2 beds 1 baths ∙ 1,088 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $2.64
    •  
  • 510 Liberty St El Cerrito, 1
    • 2 beds 1 baths ∙ 950 Sqft ∙ Built 1962 2 beds 1 baths ∙ 950 Sqft ∙ Built 1962
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.79
    •  
PROPERTY LISTING DETAILS
Meridee Carter
Red Oak Realty
BESbswy