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2600 Fruitvale Ave Oakland, CA 94601

3 Beds 2 Baths 912 sqft Built 1924

$599,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $656.80
  • 3 Days on Market
  • MLS # : BE40933599
  • Updated Date : 01/08/2021 at 12:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 912 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

New Year, new home! Fully updated house with extra detached bonus space in the Fruitvale/Patten area of Oakland. This 3 bedroom, 2 bath home with recessed lighting offers a kitchen with energy saving appliances, breakfast bar, attached garage and indoor laundry area. Enjoy the recently done updates to the home which include owned solar panels, touch screen ADT security system, digital Nest thermostat, newly added AC, water heater and furnace. The detached and finished bonus space once used as a studio offers endless possibilities. Picture yourself enjoying the spacious backyard after a long day, which has recently paved cement. Front yard will have a fully enclosed iron gate within the next 2 weeks. With a walking score of 86, transit score of 56 and near 580 freeways, you'll be just a few minutes away from grocery stores, hidden food gems, BART and schools. Do not miss out on this amazing opportunity to become a homeowner!

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PRICE & RENT TRENDS

Neighborhood: Patten

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $205k1015k

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

Neighborhood: Patten

NeighborhoodNIR Market*CityMarket2010Year20012019 Q214001600180020002200240026002800300032003400Rent in $12893490

* 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
Chabot Elementary School Primary Regular 573 22 10
Hillcrest Elementary School Middle Regular 359 15 10
Oakland High School High Regular 1,515 67 5

Chabot Elementary School

  • Education Level: Primary
  • # of students: 573
  • # of teachers: 22
10
GreatSchools Rating

Hillcrest Elementary School

  • Education Level: Middle
  • # of students: 359
  • # of teachers: 15
10
GreatSchools Rating

Oakland High School

  • Education Level: High
  • # of students: 1,515
  • # of teachers: 67
5
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,081
Property Tax -$729
Property Insurance -$49
Property Management Fees -$149
CASH FLOW
-$128

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.

$599,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.63%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$40,082

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
  • $2,467

    COMP ESTIMATED VALUE
  • $2.71

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,200
$3,200
RENT COMPS ANALYSIS
  • 2600 Fruitvale Ave Oakland, CA 1
    • 3 beds 2 baths ∙ 912 Sqft ∙ Built 1924 3 beds 2 baths ∙ 912 Sqft ∙ Built 1924
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5546 E 16th St Oakland, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1914 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1914
    property image
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.50
    •  
  • 2084 Harrington Ave Oakland, CA 3
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1920
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.91
    •  
PROPERTY LISTING DETAILS
Mary Cruz Chavez
Redfin
BESbswy