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2941 Parker Ave Oakland, CA 94605

3 Beds 2 Baths 1,643 sqft Built 1948

$749,000

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $455.87
  • 5 Days on Market
  • MLS # : EB40934140
  • Updated Date : 01/16/2021 at 11:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,643 sqft
  • Baths : 2 full
Listing Agent

Better Homes Realty/mcarthr

Listing Agent's Description

Welcome to this extraordinary, 3bed/2bath, split-level home nestled in the Eastmont Hills! Charming and contemporary, the main level features a fully updated kitchen, a brick fireplace, and refinished original hardwoods throughout! Recessed lights provide timeless aesthetic. Many big windows styled in top-down shades ease in natural light. The bathrooms are complete with modern "comfort height" toilets and a jacuzzi bathtub. The lower level of the home includes a capacious den and Owner's suite with an ideal walk-in closet. Off street parking accompanied by an attached garage makes parking hassle free. Also, the home boasts plenty of attached storage space with separate entry. The outside of the home is just as beautiful as the inside. Find a terraced garden space and a mature orange tree in the backyard, along with a few decks! And, enjoy the spectacular view from the Bay Bridge in the day to city lights at night. 2941 Parker Ave is one of a kind.

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PRICE & RENT TRENDS

Neighborhood: Eastmont Hills

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $222k1015k

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

Neighborhood: Eastmont Hills

NeighborhoodNIR Market*CityMarket2010Year20012019 Q214001600180020002200240026002800300032003400Rent in $12743490

* 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
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$2,602
Property Tax -$911
Property Insurance -$67
Property Management Fees -$158
CASH FLOW
-$508

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.

$749,000

PROJECTED PRICE

$3,230

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$19,834

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
  • $3,248

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6503$3,3004$3,400
$3,400
RENT COMPS ANALYSIS
  • 2941 Parker Ave Oakland, CA 1
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • Sunshine Ct Oakland, CA 2
    • 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1965
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.02
    •  
  • 6840 Simson St Oakland, CA 3
    • 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 1948 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 1948
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.95
    •  
  • 1571 77th Ave Oakland, CA 4
    • 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 1929 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 1929
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.96
    •  
PROPERTY LISTING DETAILS
Varnell Owens
Better Homes Realty/mcarthr
BESbswy