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3210 Sterling Avenue Alameda, CA 94501

3 Beds 1 Baths 1,161 sqft Built 1918

INVESTimate

$985,000

List Price

$3,200

$2,950 - $3,450

Rent Est.

$1,079,363  ( +9.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1918
  • Price/Sqft : $848.41
  • 6 Days on Market
  • MLS # : MR40917851
  • Updated Date : 08/24/2020 at 12:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,161 sqft
  • Baths : 1 full
Listing Agent

Re/max Gold

Listing Agent's Description

East End Craftsman on highly desirable "Bungalow Row" Sterling Avenue. This 1918 classic home has beautiful hardwood floors, updated kitchen and bathroom, interior and exterior Craftsman touches including a covered front porch. Three bedroom, 1 full bath, with the 3rd bedroom used as a home office and study, exterior entry partial basement and single carriage garage. Newer roof, newer exterior paint, new back deck, new ceiling fans, new appliances and newly refinished hardwood floors. Ideal location to walk or bike to the shoreline, the park or shopping PLUS easy - less than 5 min - commute off and back home to the island via the High St. Bridge. The city of Alameda is one of the best kept secrets in the San Francisco Bay area. Alameda is a historic beach side town that offers an affordable, less crowded, small-town feel that is close to everything yet feels wonderfully removed from it all. Please come take a look at this special offering. You will be so glad you did!

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PRICE & RENT TRENDS

Neighborhood: East End

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $273k1081k

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

Neighborhood: East End

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2180020002200240026002800300032003400360038004000Rent in $16364030

* 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
Frank Otis Elementary School Primary Regular 588 23 7
Lincoln Middle School Middle Regular 900 41 9
Alameda High School High Regular 1,746 74 9

Frank Otis Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 23
7
GreatSchools Rating

Lincoln Middle School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 41
9
GreatSchools Rating

Alameda High School

  • Education Level: High
  • # of students: 1,746
  • # of teachers: 74
9
GreatSchools Rating
 

$886,500$1,083,500$985,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$3,634
Property Tax -$1,146
Property Insurance -$55
Property Management Fees -$157
CASH FLOW
-$1,792

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.

$985,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.58%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$266,775

INVESTMENT

$266,775

Down Payment
$246,250
Rehab Estimate
$5,750
Closing Costs
$14,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,634

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $246,250
Loan Amount $738,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$82

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
  • $2,903

    COMP ESTIMATED VALUE
  • $2.5

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,000
$3,000
RENT COMPS ANALYSIS
  • 3210 Sterling Avenue Alameda, 1
    • 3 beds 1 baths ∙ 1,161 Sqft ∙ Built 1918 3 beds 1 baths ∙ 1,161 Sqft ∙ Built 1918
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5546 E 16th St Oakland, 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1914 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1914
    property image
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.50
    •  
PROPERTY LISTING DETAILS
Paul Weir
Re/max Gold
BESbswy