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3775 Madrone Ave Oakland, CA 94619

2 Beds 1 Baths 1,112 sqft Built 1953

$799,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1953
  • Price/Sqft : $718.53
  • 7 Days on Market
  • MLS # : EB40927208
  • Updated Date : 11/01/2020 at 20:49
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,112 sqft
  • Baths : 1 full
Listing Agent

Redfin

Listing Agent's Description

A like-new Upper Laurel oasis has benefitted from an impressive remodel. This fenced corner lot lives like an urban compound with a seamless flow from the front of the house through to the backyard patio and raised bed vegetable gardens. A bright living and dining area leads to a new kitchen with stainless steel appliances, quartz counters, and flex space that makes a perfect work/learn from home space. Two spacious bedrooms, one with peek-a-boo bay views, share an updated bathroom. A breezeway off the kitchen provides private access to a detached oversized one car garage that could easily transition to an ADU. The house is undeniably enviable but the true gem is the backyard with its fruitful trees, grassy area, and multiple patios. Remarkably close to the Laurel District and convenient to transportation. This home is so special that this is its first time coming to market in decades. A space like this is hard to find in Oakland and will certainly not last long.

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PRICE & RENT TRENDS

Neighborhood: Upper Laurel

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $252k1015k

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

Neighborhood: Upper Laurel

NeighborhoodNIR Market*CityMarket2010Year20012019 Q214001600180020002200240026002800300032003400Rent in $13323490

* 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
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$2,948
Property Tax -$972
Property Insurance -$54
Property Management Fees -$149
CASH FLOW
-$1,153

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.

$799,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $2.67

    LIST RENT PER SQFT
  • $2,972

    COMP ESTIMATED VALUE
  • $2.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,8004$2,9705$3,900
$3,900
RENT COMPS ANALYSIS
  • 3775 Madrone Ave Oakland, CA 4
    • 2 beds 1 baths ∙ 1,112 Sqft ∙ Built 1953 2 beds 1 baths ∙ 1,112 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $2.67
    •  
  • 2315 Church St Oakland, CA 1
    • 2 beds 1 baths ∙ 900 Sqft ∙ Built 1964 2 beds 1 baths ∙ 900 Sqft ∙ Built 1964
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.61
    •  
  • 2557 61st Ave Oakland, CA 2
    • 2 beds 1 baths ∙ 960 Sqft ∙ Built 1939 2 beds 1 baths ∙ 960 Sqft ∙ Built 1939
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.60
    •  
  • Patterson Ave Oakland, CA 3
    • 2 beds 1 baths ∙ 1,025 Sqft ∙ Built 1937 2 beds 1 baths ∙ 1,025 Sqft ∙ Built 1937
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.73
    •  
  • 57 Sereno Circle Oakland, CA 5
    • 2 beds 2 baths ∙ 1,416 Sqft ∙ Built 1972 2 beds 2 baths ∙ 1,416 Sqft ∙ Built 1972
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.75
    •  
PROPERTY LISTING DETAILS
Sarah Marcus
Redfin
BESbswy