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711 61st Street Oakland, CA 94609

2 Beds 2 Baths 995 sqft Built 1908

$799,000

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1908
  • Price/Sqft : $803.02
  • 6 Days on Market
  • MLS # : MR40928358
  • Updated Date : 12/01/2020 at 14:07
CONSTRUCTION
  • Beds : 2
  • Floor Size : 995 sqft
  • Baths : 2 full
Listing Agent

Ascend Real Estate

Listing Agent's Description

Welcome to Bushrod, one of America's most popular neighborhoods for homebuyers. This fully detached 2-bedroom home is set in its own green oasis; its multifaceted design features both Craftsman charm and Modern upgrades. Ascend to the main level and be greeted by a classic foyer with bench seating. Continuous wood floors lead you to bright living room with stone fireplace, coffered ceiling & paneled walls. Eat-in kitchen features Shaker cabinetry and stainless steel appliances. Pamper yourself in designer bathroom or take a rest in either of the spacious bedrooms. Find your center in landscaped yard spaces or entertain yourself in lower level office or game and sitting room. Bathroom, laundry room and parking garage complete this floor. Convenient NOBE location is just blocks from BART stations, Berkeley Bowl market, South Berkeley Farmers Market, plus shops, cafes and eateries along Alcatraz, Telegraph and College Avenues. Easy access to UCSF Children's Hospital & UC Berkeley.

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PRICE & RENT TRENDS

Neighborhood: Bushrod

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $253k1078k

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

Neighborhood: Bushrod

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2160018002000220024002600280030003200340036003800Rent in $14183899

* 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
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$2,948
Property Tax -$967
Property Insurance -$51
Property Management Fees -$159
CASH FLOW
-$885

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.

$799,000

PROJECTED PRICE

$3,240

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$7,122

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $3.26

    LIST RENT PER SQFT
  • $2,716

    COMP ESTIMATED VALUE
  • $2.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,575
1$2,5752$2,9753$3,0004$3,0005$3,240
$3,240
RENT COMPS ANALYSIS
  • 711 61st Street Oakland, CA 5
    • 2 beds 2 baths ∙ 995 Sqft ∙ Built 1908 2 beds 2 baths ∙ 995 Sqft ∙ Built 1908
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $3.26
    •  
  • 1039 57th Street A Oakland, CA 1
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1910 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1910
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $2.58
    •  
  • 5325 Lowell St Oakland, CA 2
    • 2 beds 1 baths ∙ 1,010 Sqft ∙ Built 1925 2 beds 1 baths ∙ 1,010 Sqft ∙ Built 1925
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $2.95
    •  
  • 85 Linda Ave Piedmont, CA 3
    • 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1906 2 beds 2 baths ∙ 1,100 Sqft ∙ Built 1906
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.73
    •  
  • 5447 Lawton Ave Oakland, CA 4
    • 2 beds 1 baths ∙ 1,127 Sqft ∙ Built 1912 2 beds 1 baths ∙ 1,127 Sqft ∙ Built 1912
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.66
    •  
PROPERTY LISTING DETAILS
Steven Huang
Ascend Real Estate
BESbswy