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2337 Mckinley Ave Berkeley, CA 94703

3 Beds 2 Baths 1,266 sqft Built 1924

INVESTimate

$895,000

List Price

$4,100

$3,850 - $4,350

Rent Est.

$983,963  ( +9.94%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1924
  • Price/Sqft : $706.95
  • 3 Days on Market
  • MLS # : EB40915544
  • Updated Date : 08/24/2020 at 03:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,266 sqft
  • Baths : 1 full , 1 half
Listing Agent

Bhg Highland Partners

Listing Agent's Description

Nestled on a tree lined street, this home is right around the corner from Downtown Berkeley. Area amenities include shops, grocery stores, a fitness center, the Berkeley Public Library and the Downtown Berkeley BART station. Berkeley High School and three elementary schools are also only a few blocks away. The backyard is well shaded by mature olive and fig trees and has the potential to be an excellent place to entertain and relax. There's also a coveted Meyer Lemon tree and several mature aloe plants. Bring your vision and create the outdoor oasis of your dreams. Unique features such as the half-timber fa�ade and castle-like turrets give the home character and create that quintessential Berkeley vibe. The living room features vaulted ceilings and a large picture window offering a dramatic first impression for guests. The detached garage awaits your imagination! Historically, the neighborhood organized block parties and holiday gatherings. Today, you might just enjoy a neigh

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PRICE & RENT TRENDS

Neighborhood: Central Berkeley

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $273k1205k

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

Neighborhood: Central Berkeley

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2180020002200240026002800300032003400360038004000Rent in $16714198

* 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
Washington Elementary School Primary Regular 468 23 7
Willard Middle School Middle Regular 561 28 7
Berkeley High School High Regular 3,182 166 8

Washington Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 23
7
GreatSchools Rating

Willard Middle School

  • Education Level: Middle
  • # of students: 561
  • # of teachers: 28
7
GreatSchools Rating

Berkeley High School

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

$805,500$984,500$895,000

PURCHASE PRICE

$3,690$4,510$4,100

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-$10k$0.0$10k$20k$30k

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 $4,100
EXPENSES Loan Payment -$3,302
Property Tax -$1,066
Property Insurance -$58
Property Management Fees -$201
CASH FLOW
-$527

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.

$895,000

PROJECTED PRICE

$4,100

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.94%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$242,925

INVESTMENT

$242,925

Down Payment
$223,750
Rehab Estimate
$5,750
Closing Costs
$13,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,302

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $223,750
Loan Amount $671,250
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$37,552

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
  • $4,146

    COMP ESTIMATED VALUE
  • $3.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,2003$4,299
$4,299
RENT COMPS ANALYSIS
  • 2337 Mckinley Ave Berkeley, 1
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1924
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1042 Peralta Ave Albany, 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, 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
    •  
PROPERTY LISTING DETAILS
Tom Watson
Bhg Highland Partners
BESbswy