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611 Michele Dr Martinez, CA 94553

3 Beds 2 Baths 959 sqft Built 1953

$425,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $443.17
  • 5 Days on Market
  • MLS # : EB40929739
  • Updated Date : 11/19/2020 at 17:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 959 sqft
  • Baths : 2 full
Listing Agent

Cal Bay Realty

Listing Agent's Description

Beautiful home that shows pride of homeownership. This home features a very spacious open concept floor plan, 3 bedrooms, 2 full baths, laminate flooring throughout, recessed lighting, a large backyard with a storage shed. Close to shopping, 680 & Hwy 4.

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PRICE & RENT TRENDS

Neighborhood: Vine Hill

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $201k1015k

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

Neighborhood: Vine Hill

NeighborhoodNIR Market*CityMarket2010Year20012019 Q216001800200022002400260028003000Rent in $14063193

* 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
Las Juntas Elementary School Primary Regular 427 17 3
Martinez Junior High School Middle Regular 978 40 6
Alhambra Senior High School High Regular 1,181 58 7

Las Juntas Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 17
3
GreatSchools Rating

Martinez Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 40
6
GreatSchools Rating

Alhambra Senior High School

  • Education Level: High
  • # of students: 1,181
  • # of teachers: 58
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,568
Property Tax -$484
Property Insurance -$50
Property Management Fees -$149
CASH FLOW
-$51

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.

$425,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$43,917

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
  • $1,573

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5753$2,8504$2,850
$2,850
RENT COMPS ANALYSIS
  • 611 Michele Dr Martinez, CA 1
    • 3 beds 2 baths ∙ 959 Sqft ∙ Built 1953 3 beds 2 baths ∙ 959 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 565 Central Ave Martinez, CA 2
    • 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1972
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.49
    •  
  • 204 Patrick Dr Pacheco, CA 3
    • 3 beds 2 baths ∙ 1,194 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,194 Sqft ∙ Built 1955
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.39
    •  
  • 1025 Oak St Martinez, CA 4
    • 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1968
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.53
    •  
PROPERTY LISTING DETAILS
Faisal Kakar
Cal Bay Realty
BESbswy