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2601 Chelsea Dr Oakland, CA 94611

3 Beds 2 Baths 1,988 sqft Built 1977

INVESTimate

$1,125,000

List Price

$4,750

$4,500 - $5,000

Rent Est.

$1,231,200  ( +9.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1977
  • Price/Sqft : $565.90
  • 6 Days on Market
  • MLS # : EB40917707
  • Updated Date : 08/23/2020 at 19:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,988 sqft
  • Baths : 2 full
Listing Agent

Red Oak Realty

Listing Agent's Description

Modern 3/2 Piedmont Pines hillside retreat with Bay and Lake Merritt views. Dramatic great room features vaulted ceilings, exposed beams, a wall of windows and French doors to the Trex deck. Spacious bedrooms and updated bathrooms including a sprawling owner's suite with a luxurious dual steam shower. Minutes to Montclair Village and endless trails of Redwood Regional Park. Thoughtful upgrades include a generator transfer switch for easy backup power, custom engineered seismic retrofit, JennAir appliances, mini split heating/AC unit, and double pane windows.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Piedmont Pines

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $253k1261k

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

Neighborhood: Piedmont Pines

NeighborhoodNIR Market*CityMarket2010Year20012019 Q21500200025003000350040004500Rent in $14184831

* 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
 

$1,012,500$1,237,500$1,125,000

PURCHASE PRICE

$4,275$5,225$4,750

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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$3.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,750
EXPENSES Loan Payment -$4,151
Property Tax -$1,369
Property Insurance -$75
Property Management Fees -$233
CASH FLOW
-$1,077

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.

$1,125,000

PROJECTED PRICE

$4,750

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.44%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$303,875

INVESTMENT

$303,875

Down Payment
$281,250
Rehab Estimate
$5,750
Closing Costs
$16,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$4,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $281,250
Loan Amount $843,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$17,978

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,750

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $4,910

    COMP ESTIMATED VALUE
  • $2.47

    COMP AVG. RENT PER SQFT
Comps Range
$4,750
1$4,7502$4,7503$4,995
$4,995
RENT COMPS ANALYSIS
  • 2601 Chelsea Dr Oakland, 2
    • 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.39
    •  
  • 6445 Thornhill Dr Oakland, 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1979
    LEASED 02/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.55
    •  
  • 2535 Chelsea Drive Oakland, 3
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 1972
    LEASED 08/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $2.39
    •  
PROPERTY LISTING DETAILS
Leslie Bandy
Red Oak Realty
BESbswy