Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2874 Morgan Ave Oakland, CA 94602

3 Beds 1 Baths 1,104 sqft Built 1927

$899,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1927
  • Price/Sqft : $814.31
  • 4 Days on Market
  • MLS # : EB40923415
  • Updated Date : 10/31/2020 at 03:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,104 sqft
  • Baths : 1 full
Listing Agent

Day And Night Realty

Listing Agent's Description

Gardner's Delight! Beautiful Craftsman in Lincoln Heights Neighborhood. Close to all parks and outdoor activities. Located on a Cul De Sac. Property need some updating. Hardwood floors throughout. Deck and spacious yard for gardening and room to expand. Basement area for a work shop or additional living area. Must see to appreciate.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lincoln Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $253k1078k

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

Neighborhood: Lincoln Highlands

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2160018002000220024002600280030003200340036003800Rent in $14183863

* 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
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$3,317
Property Tax -$1,094
Property Insurance -$54
Property Management Fees -$159
CASH FLOW
-$1,374

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.

$899,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.0%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$399

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $2.94

    LIST RENT PER SQFT
  • $3,489

    COMP ESTIMATED VALUE
  • $3.16

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,250
$3,250
RENT COMPS ANALYSIS
  • 2874 Morgan Ave Oakland, CA 2
    • 3 beds 1 baths ∙ 1,104 Sqft ∙ Built 1927 3 beds 1 baths ∙ 1,104 Sqft ∙ Built 1927
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.94
    •  
  • 4107 Porter St Oakland, CA 1
    • 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1924
    property image
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $3.16
    •  
PROPERTY LISTING DETAILS
Dan Thomas
Day And Night Realty
BESbswy