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364 Lester Ave Oakland, CA 94606

4 Beds 3 Baths 2,281 sqft Built 1911

INVESTimate

$1,020,000

List Price

$4,600

$4,350 - $4,850

Rent Est.

$1,160,760  ( +13.80%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1911
  • Price/Sqft : $447.17
  • 7 Days on Market
  • MLS # : EB40917490
  • Updated Date : 08/20/2020 at 12:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,281 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Just blocks to Lake Merritt, food trucks, and a break from WFH stress, this early Craftsman is a generous single-family home, though with a trick up its sleeve might accommodate separate living in the lower level. The street-level hosts broad living and dining rooms, and a nicely updated kitchen. Two bedrooms and a full bath sit on this level. Upstairs, once an attic, is today's "primary" suite with full bath. Skylights open to let warm air out and fresh air in. Lots of storage and a nook for a desk if this doubles as your work space. A welcome covered deck on the main level behind the kitchen is sufficient for get-me-outta-here laptop time, video meetings, dining al fresco, or just taking a break. Downstairs, with both interior and separate exterior access points, is an independent layout which includes a living area, kitchenette with cooktop, bedroom, and full bath. The wide back patio and garden-to-be request your presence at a socially distanced cocktail hour one day very soon.

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PRICE & RENT TRENDS

Neighborhood: Cleveland Heights

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $253k1078k

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

Neighborhood: Cleveland Heights

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2140016001800200022002400260028003000320034003600380040004200Rent in $12584211

* 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
 

$918,000$1,122,000$1,020,000

PURCHASE PRICE

$4,140$5,060$4,600

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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

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$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,600
EXPENSES Loan Payment -$3,763
Property Tax -$1,241
Property Insurance -$82
Property Management Fees -$225
CASH FLOW
-$712

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.

$1,020,000

PROJECTED PRICE

$4,600

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.80%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$276,050

INVESTMENT

$276,050

Down Payment
$255,000
Rehab Estimate
$5,750
Closing Costs
$15,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $255,000
Loan Amount $765,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$33,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,600

    LIST RENT
  • $2.02

    LIST RENT PER SQFT
  • $4,927

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,6003$5,275
$5,275
RENT COMPS ANALYSIS
  • 364 Lester Ave Oakland, 2
    • 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 1911 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 1911
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.02
    •  
  • 1425 Myrtle Oakland, 1
    • 4 beds 2 baths ∙ 2,121 Sqft ∙ Built 1908 4 beds 2 baths ∙ 2,121 Sqft ∙ Built 1908
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.88
    •  
  • 296 Jayne Avenue Oakland, 3
    • 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 1911 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 1911
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,275
    • $2.44
    •  
PROPERTY LISTING DETAILS
Martha Hill
Compass
BESbswy