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2446 San Jose Ave Alameda, CA 94501

2 Beds 1 Baths 1,138 sqft Built 1900

$899,000

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1900
  • Price/Sqft : $789.98
  • 7 Days on Market
  • MLS # : CC40930117
  • Updated Date : 11/23/2020 at 09:02
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,138 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker

Listing Agent's Description

Quintessential Alameda Cottage conveniently located near all that downtown Alameda has to offer. This well maintained charmer welcomes with it's beautiful front porch and inviting rooms featuring original millwork, high coved ceilings and updated kitchen. Substantial basement is full of possibilities!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East End

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $273k1081k

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

Neighborhood: East End

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2180020002200240026002800300032003400360038004000Rent in $16364030

* 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
Frank Otis Elementary School Primary Regular 588 23 7
Lincoln Middle School Middle Regular 900 41 9
Alameda High School High Regular 1,746 74 9

Frank Otis Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 23
7
GreatSchools Rating

Lincoln Middle School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 41
9
GreatSchools Rating

Alameda High School

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

$809,100$988,900$899,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$3,317
Property Tax -$1,046
Property Insurance -$55
Property Management Fees -$150
CASH FLOW
-$1,498

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.

$899,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$115

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
  • $3,164

    COMP ESTIMATED VALUE
  • $2.78

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,500
$2,500
RENT COMPS ANALYSIS
  • 2446 San Jose Ave Alameda, CA 1
    • 2 beds 1 baths ∙ 1,138 Sqft ∙ Built 1900 2 beds 1 baths ∙ 1,138 Sqft ∙ Built 1900
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 855 Cedar St B Alameda, CA 2
    • 2 beds 1 baths ∙ 900 Sqft ∙ Built 1910 2 beds 1 baths ∙ 900 Sqft ∙ Built 1910
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.78
    •  
PROPERTY LISTING DETAILS
Kelly Crawford
Coldwell Banker
BESbswy