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6640 Pine Needle Dr Oakland, CA 94611

3 Beds 3 Baths 2,272 sqft Built 1992

$1,299,000

List Price

$4,830

$4.6K - $5.1K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $571.74
  • 5 Days on Market
  • MLS # : EB40927486
  • Updated Date : 11/02/2020 at 18:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,272 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Spacious, contemporary, and private, 6640 Pine Needle Drive offers the ultimate in Northern California living. This luxuriously sized home is conveniently located in the Montclair District of Oakland, near Broadway Terrace, open space, and easy access to transportation corridors, in one of the East Bay's most enviable neighborhoods.

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PRICE & RENT TRENDS

Neighborhood: Merriewood

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $253k1186k

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

Neighborhood: Merriewood

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2160018002000220024002600280030003200340036003800400042004400Rent in $14184448

* 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
 

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$4,347$5,313$4,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,830
EXPENSES Loan Payment -$4,793
Property Tax -$1,573
Property Insurance -$82
Property Management Fees -$237
CASH FLOW
-$1,854

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.

$1,299,000

PROJECTED PRICE

$4,830

PROJECTED RENT

0.37%

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 5.09%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,491

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,830

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $5,271

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$4,700
1$4,7002$4,8003$4,8304$4,995
$4,995
RENT COMPS ANALYSIS
  • 6640 Pine Needle Dr Oakland, CA 3
    • 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $4,830
    • $2.13
    •  
  • 27 Windward Hl Oakland, CA 1
    • 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1994
    LEASED 05/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $2.37
    •  
  • 7727 Claremont Ave Berkeley, CA 2
    • 4 beds 4 baths ∙ 2,182 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,182 Sqft ∙ Built 1999
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.20
    •  
  • 2535 Chelsea Drive Oakland, CA 4
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 1972
    LEASED 08/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $2.39
    •  
PROPERTY LISTING DETAILS
Andrea Gordon
Compass
BESbswy