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2708 Virginia St Berkeley, CA 94709

5 Beds 3 Baths 3,111 sqft Built 1908

$1,450,000

List Price

$5,660

$5.4K - $5.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1908
  • Price/Sqft : $466.09
  • 4 Days on Market
  • MLS # : EB40929814
  • Updated Date : 11/21/2020 at 13:02
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,111 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

First time on market in 106 yrs, this charming, spacious & intimate home began as a small cottage. It has many Craftsman features, such as a wide welcoming front door, Redwood board & batten walls, box beam ceilings & a brick fireplace & tile hearth. Many of the massive beams are decoratively notched & there are numerous Redwood alcoves framed by arches. The floor to ceiling windows flood the home with light and create a connection to the verdant vistas and lovely Bay views. On the main floor, many common areas include living room, kitchen, dining room, piano alcove, library and conservatory. Also 1 BD & 1/2 BA. Upstairs are 3 spacious BDs & 1 BA & a special carved high gabled room with various built-ins: desk, twin bed and ladder leading to an attic space, reminiscent of an English cottage. The lower level also has 1 BD, 1 BA, laundry & storage that connects to the garden & garage. Near UC & amenities of Gourmet Village, this historic home is ready for a new owner's upgrades.

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PRICE & RENT TRENDS

Neighborhood: Northside

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $273k1207k

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

Neighborhood: Northside

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2160018002000220024002600280030003200340036003800400042004400Rent in $15754503

* 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
Washington Elementary School Primary Regular 468 23 7
Willard Middle School Middle Regular 561 28 7
Berkeley High School High Regular 3,182 166 8

Washington Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 23
7
GreatSchools Rating

Willard Middle School

  • Education Level: Middle
  • # of students: 561
  • # of teachers: 28
7
GreatSchools Rating

Berkeley High School

  • Education Level: High
  • # of students: 3,182
  • # of teachers: 166
8
GreatSchools Rating
 

$1,305,000$1,595,000$1,450,000

PURCHASE PRICE

$5,094$6,226$5,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,660
EXPENSES Loan Payment -$5,350
Property Tax -$1,728
Property Insurance -$102
Property Management Fees -$277
CASH FLOW
-$1,797

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.

$1,450,000

PROJECTED PRICE

$5,660

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.0%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$390,000

INVESTMENT

$390,000

Down Payment
$362,500
Rehab Estimate
$5,750
Closing Costs
$21,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,350

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $362,500
Loan Amount $1,087,500
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$6,401

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
  • $7,046

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$6,5003$8,125
$8,125
RENT COMPS ANALYSIS
  • 2708 Virginia St Berkeley, CA 1
    • 5 beds 3 baths ∙ 3,111 Sqft ∙ Built 1908 5 beds 3 baths ∙ 3,111 Sqft ∙ Built 1908
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1128 Shattuck Ave Berkeley, CA 2
    • 4 beds 4 baths ∙ 3,140 Sqft ∙ Built 1910 4 beds 4 baths ∙ 3,140 Sqft ∙ Built 1910
    property image
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $6,500
    • $2.07
    •  
  • 41 Oakvale Ave Berkeley, CA 3
    • 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 1915 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 1915
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $8,125
    • $2.46
    •  
PROPERTY LISTING DETAILS
Norah Brower
Compass
BESbswy