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2500 Otis Drive Alameda, CA 94501

3 Beds 2 Baths 1,821 sqft Built 1935

$995,000

List Price

$4,110

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1935
  • Price/Sqft : $546.40
  • 4 Days on Market
  • MLS # : BE40927676
  • Updated Date : 11/06/2020 at 19:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,821 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Situated on a large, beautifully landscaped corner lot in Alameda's sought-after East End, 2500 Otis is a charming, historic 3BD/1.5BA 1821 sq ft split-level Art Deco with modern interior, cross-gabled roof and front porch featuring period arch and cutouts. A brilliant example of the many architectural styles found in the island city, this light-filled home is a blend of period details and stylish upgrades, boasting gleaming hardwood floors, soaring ceilings with crown molding, and sunny picture windows. The recently remodeled baths and updated eat-in kitchen with breakfast bar and separate breakfast nook provide modern comfort and convenience. Additional features include a formal dining room, large family room, detached garage, and an inviting enclosed backyard with covered patio. Mere blocks from the Park Street hub, South Shore shops, and the best of Alameda's parks, beaches, and restaurants.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: South Shore

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $259k1078k

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

Neighborhood: South Shore

NeighborhoodNIR Market*CityMarket2010Year20012019 Q21800200022002400260028003000320034003600380040004200Rent in $16714222

* 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
 

$895,500$1,094,500$995,000

PURCHASE PRICE

$3,699$4,521$4,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,110
EXPENSES Loan Payment -$3,671
Property Tax -$1,158
Property Insurance -$71
Property Management Fees -$201
CASH FLOW
-$991

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.

$995,000

PROJECTED PRICE

$4,110

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.9%
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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$269,425

INVESTMENT

$269,425

Down Payment
$248,750
Rehab Estimate
$5,750
Closing Costs
$14,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,671

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $248,750
Loan Amount $746,250
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$14,134

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,110

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $4,279

    COMP ESTIMATED VALUE
  • $2.35

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$4,110
$4,110
RENT COMPS ANALYSIS
  • 2500 Otis Drive Alameda, CA 2
    • 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 1935
    • Rent
    • Rent Per SQFT
    •  
    • $4,110
    • $2.26
    •  
  • Central Ave Alameda, CA 1
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1927
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.35
    •  
PROPERTY LISTING DETAILS
David Gunderman
Keller Williams Realty
BESbswy