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3408 Simmons St Oakland, CA 94619

2 Beds 1 Baths 1,211 sqft Built 1931

$549,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1931
  • Price/Sqft : $453.34
  • 7 Days on Market
  • MLS # : BE40931941
  • Updated Date : 12/18/2020 at 12:49
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,211 sqft
  • Baths : 1 full
Listing Agent

Berkshire Hathaway Homeserv

Listing Agent's Description

Located in the highly sought after Maxwell Park location, This Probate Sale home is to be sold in it's present condition. Please be extra careful when touring the home as sellers unwanted belongings remain.

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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
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,026
Property Tax -$668
Property Insurance -$56
Property Management Fees -$149
CASH FLOW
$111

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.

$549,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$73,638

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
  • $3,076

    COMP ESTIMATED VALUE
  • $2.54

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,5004$2,5005$2,800
$2,800
RENT COMPS ANALYSIS
  • 3408 Simmons St Oakland, CA 1
    • 2 beds 1 baths ∙ 1,211 Sqft ∙ Built 1931 2 beds 1 baths ∙ 1,211 Sqft ∙ Built 1931
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2560 68th Ave Oakland, CA 2
    • 2 beds 1 baths ∙ 1,068 Sqft ∙ Built 1924 2 beds 1 baths ∙ 1,068 Sqft ∙ Built 1924
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.34
    •  
  • Princeton St Oakland, CA 3
    • 2 beds 1 baths ∙ 1,004 Sqft ∙ Built 1931 2 beds 1 baths ∙ 1,004 Sqft ∙ Built 1931
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.49
    •  
  • 2557 61st Ave Oakland, CA 4
    • 2 beds 1 baths ∙ 960 Sqft ∙ Built 1939 2 beds 1 baths ∙ 960 Sqft ∙ Built 1939
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.60
    •  
  • Patterson Ave Oakland, CA 5
    • 2 beds 1 baths ∙ 1,025 Sqft ∙ Built 1937 2 beds 1 baths ∙ 1,025 Sqft ∙ Built 1937
    property image
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.73
    •  
PROPERTY LISTING DETAILS
Kathi Townsend
Berkshire Hathaway Homeserv
BESbswy