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2621 Leslie Ave Martinez, CA 94553

3 Beds 2 Baths 1,603 sqft Built 1938

INVESTimate

$570,000

List Price

$3,160

$2,910 - $3,410

Rent Est.

$641,193  ( +12.49%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1938
  • Price/Sqft : $355.58
  • 7 Days on Market
  • MLS # : CC40917638
  • Updated Date : 08/23/2020 at 15:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Along the quaint neighborhoods of Martinez, this charming single floor home is tucked into a lawn with blossoming fruit trees. With a large back deck and fenced in yard, this unique haven is an entertainers delight. Upon entry, hardwood floors take you throughout this light filled home. The first and second bedrooms have sizable windows bringing the beauty of nature within. The hall bathroom has a custom-built shower and plenty of cabinet space. The living rooms' large picture window overlooks the front yard. The Master bedroom features wood paneled walls, two windows overlooking the back yard, walk-in closet, and master bathroom featuring an oversized jet tub! The dining room flows into the kitchen which has two glass doors that open up to the deck perfect for dining with friends and family. One side of the deck is level to the driveway while the other leads you a few steps down to the back yard and entrance to further storage under the house.

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PRICE & RENT TRENDS

Neighborhood: Mountain View

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $184k1015k

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

Neighborhood: Mountain View

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2140016001800200022002400260028003000Rent in $12793193

* 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
Morello Park Elementary School Primary Regular 530 20 9
Martinez Junior High School Middle Regular 978 40 6
Alhambra Senior High School High Regular 1,181 58 7

Morello Park Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 20
9
GreatSchools Rating

Martinez Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 40
6
GreatSchools Rating

Alhambra Senior High School

  • Education Level: High
  • # of students: 1,181
  • # of teachers: 58
7
GreatSchools Rating
 

$513,000$627,000$570,000

PURCHASE PRICE

$2,844$3,476$3,160

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,103
Property Tax -$649
Property Insurance -$66
Property Management Fees -$155
CASH FLOW
$187

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.

$570,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.49%
Maintenance Year (1-5) 8.00%
Vacancy 4.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$85,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $3,414

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,1603$3,200
$3,200
RENT COMPS ANALYSIS
  • 2621 Leslie Ave Martinez, 2
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $1.97
    •  
  • 5149 Smith Dr Martinez, 1
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1956
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.25
    •  
  • 5430 Likins Ave Martinez, 3
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1956
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.01
    •  
PROPERTY LISTING DETAILS
Saraya Motley
Compass
BESbswy