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5978 Rincon Oakland, CA 94611

3 Beds 3 Baths 1,873 sqft Built 1940

INVESTimate

$949,000

List Price

$4,940

$4,690 - $5,190

Rent Est.

$1,019,131  ( +7.39%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1940
  • Price/Sqft : $506.67
  • 6 Days on Market
  • MLS # : EB40916935
  • Updated Date : 08/24/2020 at 12:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,873 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Situated on a sunny, level lot in Montclair is a flexible "fixer" opportunity with tons of potential, great natural light, and loads of quality space that includes inviting living & dining rooms, three bedrooms, 3 bathrooms, converted garage, and finished basement. Add hardwood floors and period details, water views, front & back gardens, ample parking, and close proximity to Montclair Village, and you have the dream makings of easy indoor-outdoor living waiting to be transformed. Bring your contractors and your vision but don't miss this fantastic opportunity! Visit www.5978Rincon.com

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PRICE & RENT TRENDS

Neighborhood: Montclair

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $253k1322k

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

Neighborhood: Montclair

NeighborhoodNIR Market*CityMarket2010Year20012019 Q21500200025003000350040004500Rent in $14184844

* 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
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$4,446$5,434$4,940

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k

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 $4,940
EXPENSES Loan Payment -$3,501
Property Tax -$1,155
Property Insurance -$72
Property Management Fees -$242
CASH FLOW
-$30

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.

$949,000

PROJECTED PRICE

$4,940

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 7.39%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$96,571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,940

    LIST RENT
  • $2.64

    LIST RENT PER SQFT
  • $5,244

    COMP ESTIMATED VALUE
  • $2.8

    COMP AVG. RENT PER SQFT
Comps Range
$4,940
1$4,9402$4,995
$4,995
RENT COMPS ANALYSIS
  • 5978 Rincon Oakland, 1
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 1940 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $4,940
    • $2.64
    •  
  • 1048 Annerley Rd Oakland, 2
    • 4 beds 3 baths ∙ 1,781 Sqft ∙ Built 1930 4 beds 3 baths ∙ 1,781 Sqft ∙ Built 1930
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $2.80
    •  
PROPERTY LISTING DETAILS
Sarah Abel
Compass
BESbswy