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285 Lorraine Blvd San Leandro, CA 94577

3 Beds 2 Baths 1,555 sqft Built 1941

$775,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1941
  • Price/Sqft : $498.39
  • 8 Days on Market
  • MLS # : EB40926415
  • Updated Date : 10/30/2020 at 06:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,555 sqft
  • Baths : 1 full , 1 half
Listing Agent

Compass

Listing Agent's Description

A Stylish take on a classic traditional split level. 2 bedrooms up with a full bath. Living, dining, kitchen, and nook on main level with family room or 3rd bedroom and half bath on lower level. Many homes in this neighborhood have converted the lower level into a suite. Hardwood floors, fireplace, designer colors, high-end appliances, and an updated bathroom make this house functional, warm, and inviting. Attached garage with interior access, storage shed, fully fenced yard with lawn and patio hangout. Additional perks include a newer roof, seismic retrofit, newer furnace, electrical main upgrade and some newer dual pane windows. Near BART, Rapid Bus, shopping, and parks.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Best Manor

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $219k1029k

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

Neighborhood: Best Manor

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2140016001800200022002400260028003000Rent in $13473193

* 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 388 14 4
Bancroft Middle School Middle Regular 863 40 2
San Leandro High School High Regular 2,601 119 4

Washington Elementary School

  • Education Level: Primary
  • # of students: 388
  • # of teachers: 14
4
GreatSchools Rating

Bancroft Middle School

  • Education Level: Middle
  • # of students: 863
  • # of teachers: 40
2
GreatSchools Rating

San Leandro High School

  • Education Level: High
  • # of students: 2,601
  • # of teachers: 119
4
GreatSchools Rating
 

$697,500$852,500$775,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,859
Property Tax -$884
Property Insurance -$65
Property Management Fees -$157
CASH FLOW
-$765

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.

$775,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.60%
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

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,859

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$12,026

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $3,354

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3503$3,4004$3,500
$3,500
RENT COMPS ANALYSIS
  • 285 Lorraine Blvd San Leandro, CA 1
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.06
    •  
  • 9233 Thermal St Oakland, CA 2
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1925
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.88
    •  
  • 1750 Benedict Dr San Leandro, CA 3
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1955
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.96
    •  
  • 1975 Trombas Ave San Leandro, CA 4
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1943
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.63
    •  
PROPERTY LISTING DETAILS
Amy Robeson
Compass
BESbswy