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607 Brooklyn Ave Oakland, CA 94606

4 Beds 3 Baths 2,069 sqft Built 1916

$1,080,000

List Price

$4,530

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1916
  • Price/Sqft : $521.99
  • 3 Days on Market
  • MLS # : EB40927302
  • Updated Date : 11/01/2020 at 14:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,069 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Grubb Co. Inc.

Listing Agent's Description

This substantial Prairie Craftsman is like an oasis in popular Ivy Hill/Cleveland Heights area, just steps from Lake Merritt! Glorious large public spaces with 1916 charm...flexible layout with great work from home spaces..Watch the sunset over the lake from the cozy upstairs sunporch or the huge main bedroom...all bedrooms & a new bath on second level. Main level features large living & dining rooms with built-ins, beautiful woodwork & windows, a full bath, & great indoor outdoor living from the kitchen to a back porch & enclosed yard. In addition, set up a guest or work sanctuary in the large basement (not included in square footage!). Lake Merritt offers a serene getaway in the City, and there is easy access to Lakeshore and Grand Ave. shopping/restaurant districts. Popular Cleveland school is very close, & you can get your daily workout in on the Cleveland Cascade! Parking spaces for two cars,--though you won't often need to drive! Laundry &Extra storage in basement. Special Home!

SEE MORE

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
 

$972,000$1,188,000$1,080,000

PURCHASE PRICE

$4,077$4,983$4,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,530
EXPENSES Loan Payment -$3,985
Property Tax -$1,314
Property Insurance -$77
Property Management Fees -$222
CASH FLOW
-$1,068

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.

$1,080,000

PROJECTED PRICE

$4,530

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.8%
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$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$291,950

INVESTMENT

$291,950

Down Payment
$270,000
Rehab Estimate
$5,750
Closing Costs
$16,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $270,000
Loan Amount $810,000
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$15,616

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
  • $5,428

    COMP ESTIMATED VALUE
  • $2.62

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,9953$5,2754$5,800
$5,800
RENT COMPS ANALYSIS
  • 607 Brooklyn Ave Oakland, CA 1
    • 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 1916 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 1916
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1048 Annerley Rd Oakland, CA 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
    •  
  • 296 Jayne Avenue Oakland, CA 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
    •  
  • 316 Jerome Ave Piedmont, CA 4
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1918 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1918
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,800
    • $2.63
    •  
PROPERTY LISTING DETAILS
Nancy Reichert-burley
The Grubb Co. Inc.
BESbswy