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4015 Rusting Ave Oakland, CA 94605

2 Beds 1 Baths 1,141 sqft Built 1948

$639,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $560.04
  • 5 Days on Market
  • MLS # : EB40929735
  • Updated Date : 11/18/2020 at 21:21
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,141 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

A 2 bedroom, 1 bath mid-Century charmer with a lot to offer the right buyer. Cozy and inviting, this home effortlessly balances retro and modern from the original floors to the recessed lighting. The key feature of the living/dining area is a rustic stone fireplace guaranteed to become the preferred gathering spot on winter evenings. You'll love the light from a rear wall of vintage 5-panel windows flanking French doors that open to the back yard. Beyond the French doors, the outdoor living area includes a large patio, planter boxes, and an intriguing staircase to the back of the property. The updated eat-in kitchen is a perfect blend of warm wood cabinets, cool granite countertops, stainless steel appliances and an abundance of counter space. Two spacious bedrooms include a front-facing master with two closets and a second bedroom in the rear, overlooking the back yard. Easy access to 580 and Highway 13, convenient to Mills College, Skyline High School and Leona Heights Park.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Leona Heights

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $253k1078k

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

Neighborhood: Leona Heights

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2160018002000220024002600280030003200340036003800Rent in $14183863

* 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
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,358
Property Tax -$777
Property Insurance -$55
Property Management Fees -$149
CASH FLOW
-$469

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.

$639,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
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

PROJECTED ANNUAL CASH FLOW

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

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$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,358

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$19,805

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
  • $2,972

    COMP ESTIMATED VALUE
  • $2.61

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3503$2,500
$2,500
RENT COMPS ANALYSIS
  • 4015 Rusting Ave Oakland, CA 1
    • 2 beds 1 baths ∙ 1,141 Sqft ∙ Built 1948 2 beds 1 baths ∙ 1,141 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2315 Church St Oakland, CA 2
    • 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 3
    • 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
    •  
PROPERTY LISTING DETAILS
Reva Tolbert
Coldwell Banker Residential
BESbswy