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220 Bannister Ct Alameda, CA 94502

2 Beds 3 Baths 1,591 sqft Built 1991

INVESTimate

$769,000

List Price

$3,470

$3,220 - $3,720

Rent Est.

$839,671  ( +9.19%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $483.34
  • 7 Days on Market
  • MLS # : BE40916431
  • Updated Date : 08/23/2020 at 12:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,591 sqft
  • Baths : 2 full , 1 half
Listing Agent

Windermere Bay Area Prop.

Listing Agent's Description

Opportunity knocks! Enjoy Alameda living at it's best in this chic and tastefully appointed 2 story duet with 2 en suite bedrooms located just steps from the SF Bay Shoreline where you will find walking & biking trails and beautiful sunsets. This home offers an open LR/DR, eat-in kitchen, attached 2 car garage and a fenced garden with a pond and a spa. Improvements include newer floors and carpeting, updated lighting throughout and bathroom upgrades. With its Southern exposure, this home is bathed in sunshine. Close to top rated schools, parks, playgrounds and the Corica public golf course. Great commuter location with SF Ferry, 880, BART and tech shuttles nearby. Don't miss this one!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bay Farm Island

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $273k1140k

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

Neighborhood: Bay Farm Island

NeighborhoodNIR Market*CityMarket2010Year20012019 Q21800200022002400260028003000320034003600380040004200Rent in $16714216

* 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
Bay Farm School Primary Regular 572 23 9
Bay Farm School Middle Regular 572 23 9
Alameda High School High Regular 1,746 74 9

Bay Farm School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 23
9
GreatSchools Rating

Bay Farm School

  • Education Level: Middle
  • # of students: 572
  • # of teachers: 23
9
GreatSchools Rating

Alameda High School

  • Education Level: High
  • # of students: 1,746
  • # of teachers: 74
9
GreatSchools Rating
 

$692,100$845,900$769,000

PURCHASE PRICE

$3,123$3,817$3,470

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$2,837
Property Tax -$895
Property Insurance -$66
HOA -$406
Property Management Fees -$170
CASH FLOW
-$903

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.

$769,000

PROJECTED PRICE

$3,470

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.19%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$209,535

INVESTMENT

$209,535

Down Payment
$192,250
Rehab Estimate
$5,750
Closing Costs
$11,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,837

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $192,250
Loan Amount $576,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,075

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,470

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $3,309

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,470
$3,470
RENT COMPS ANALYSIS
  • 220 Bannister Ct Alameda, 2
    • 2 beds 3 baths ∙ 1,591 Sqft ∙ Built 1991 2 beds 3 baths ∙ 1,591 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $2.18
    •  
  • 245 Inverness Ct Alameda, 1
    • 2 beds 2 baths ∙ 1,631 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,631 Sqft ∙ Built 1979
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.08
    •  
PROPERTY LISTING DETAILS
Karen Miller
Windermere Bay Area Prop.
BESbswy