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2921 Madera Ave Oakland, CA 94619

4 Beds 3 Baths 1,954 sqft Built 1922

$899,000

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1922
  • Price/Sqft : $460.08
  • 7 Days on Market
  • MLS # : EB40933795
  • Updated Date : 01/16/2021 at 09:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,954 sqft
  • Baths : 3 full
Listing Agent

Red Oak Realty

Listing Agent's Description

Near the top of the hill in Maxwell Park sits this rare home, a true 4/3 with two ensuite bedrooms and stunning bay views. Charm from the craftsman shows in the crown molding, high baseboards, hardwood floors, original built-ins; and an expansion added modern amenities like dual-pane windows, walk-in closet, a remodeled kitchen with 36" Thermador range, and dual-zone AC. That's right, air conditioning in an Oakland Craftsman! The upstairs carpeted family area has a private deck with Bay views. There is a laundry room with utility sink in the large basement, which also features a shop table and expansive storage. With a great front porch to enjoy the Bay view, as well as fenced backyard with low maintenance landscaping, this property offers wonderful California living. The long, gated driveway offers the possibility of RV or boat parking. This is a special home and great property conveniently located in Oakland's wonderful Maxwell Park neighborhood, don't miss it!

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PRICE & RENT TRENDS

Neighborhood: Maxwell Park

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $243k1015k

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

Neighborhood: Maxwell Park

NeighborhoodNIR Market*CityMarket2010Year20012019 Q21600180020002200240026002800300032003400Rent in $14083490

* 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

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$3,123
Property Tax -$1,119
Property Insurance -$74
Property Management Fees -$161
CASH FLOW
-$1,197

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

$3,280

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.7%
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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$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$3.0M$3.5M

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.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,026

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
  • $3,268

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,4004$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 2921 Madera Ave Oakland, CA 1
    • 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 1922 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 1922
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2612 64th Ave Oakland, CA 2
    • 4 beds 4 baths ∙ 2,097 Sqft ∙ Built 1918 4 beds 4 baths ∙ 2,097 Sqft ∙ Built 1918
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.43
    •  
  • 1571 77th Ave Oakland, CA 3
    • 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 1929 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 1929
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.96
    •  
  • 3030 Bona Oakland, CA 4
    • 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1906 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1906
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.66
    •  
  • 931 71st Ave Oakland, CA 5
    • 5 beds 2 baths ∙ 2,128 Sqft ∙ Built 1936 5 beds 2 baths ∙ 2,128 Sqft ∙ Built 1936
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.64
    •  
PROPERTY LISTING DETAILS
Hanna Kerns
Red Oak Realty
BESbswy