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609 Penny Ln Hayward, CA 94541

3 Beds 3 Baths 1,468 sqft Built 1990

$688,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $468.66
  • 4 Days on Market
  • MLS # : ML81818979
  • Updated Date : 11/05/2020 at 18:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,468 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Rarely available 3 bedrooms & 2.5 baths home in California Village. This traditional style charmer has great curb appeal. As you step in this beautiful home, you will find an inviting living room with vaulted ceiling and lots of windows soaked in sunlights on one side & a spacious formal dining room on the other. It is connected to the beautifully remodeled kitchen with cherry cabinets, granite countertop and a huge eat in kitchen dining room. Cozy family room with fireplace and sliding doors to the expansive yard. Powder room and entrance to the attached 2 car side by side garage complete the main level. Up the stairs, you will find an oversized master bedroom with vaulted ceiling and walk in closet and an open master bath with convenient double sink. Two other bedrooms and a full bath complete this level. Low maintenance yard; two car garage with ample storage space. Convenient location, close to shops, restaurants, and freeways.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: San Lorenzo

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $206k1024k

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

Neighborhood: San Lorenzo

NeighborhoodNIR Market*CityMarket2010Year20012019 Q216001800200022002400260028003000Rent in $14543193

* 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
Lorenzo Manor Elementary School Primary Regular 601 25 3
Bohannon Middle School Middle Regular 842 39 3
San Lorenzo High School High Regular 1,407 59 3

Lorenzo Manor Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 25
3
GreatSchools Rating

Bohannon Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 39
3
GreatSchools Rating

San Lorenzo High School

  • Education Level: High
  • # of students: 1,407
  • # of teachers: 59
3
GreatSchools Rating
 

$619,200$756,800$688,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,538
Property Tax -$772
Property Insurance -$63
HOA -$47
Property Management Fees -$149
CASH FLOW
-$558

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.

$688,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.63%
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

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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,070

INVESTMENT

$188,070

Down Payment
$172,000
Rehab Estimate
$5,750
Closing Costs
$10,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,538

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,000
Loan Amount $516,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$17,765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $2.05

    LIST RENT PER SQFT
  • $3,244

    COMP ESTIMATED VALUE
  • $2.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9503$3,010
$3,010
RENT COMPS ANALYSIS
  • 609 Penny Ln Hayward, CA 3
    • 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $2.05
    •  
  • Royal Ave Hayward, CA 1
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 2009
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.21
    •  
  • 17997 Sunol Rd Hayward, CA 2
    • 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 1973
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.21
    •  
PROPERTY LISTING DETAILS
Patrick Ho
Coldwell Banker Realty
BESbswy