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7352 Saroni Dr Oakland, CA 94611

3 Beds 2 Baths 2,200 sqft Built 1948

INVESTimate

$985,000

List Price

$5,980

$5,730 - $6,230

Rent Est.

$1,051,980  ( +6.80%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1948
  • Price/Sqft : $447.73
  • 7 Days on Market
  • MLS # : EB40917584
  • Updated Date : 08/25/2020 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full
Listing Agent

Red Oak Realty

Listing Agent's Description

Enjoy indoor/outdoor living at its finest in this charming Cape Cod home. Graciously updated kitchen, 3 spacious bedrooms, 2 updated baths, dining room with French doors that open to an expansive front deck. Large living room with wood beams and a fireplace with tile hearth. Follow the sun as you enjoy the multiple private outdoor areas. Sit under the pergola in the level backyard, perfect for an evening glass of wine, or dine al fresco on the large front deck. Street-level garage, storage shed and rare, paved parking for multiple cars. Serene yet conveniently located moments off of Shepherd Canyon, only minutes to Montclair Village, Railroad Trail, Redwood Regional Park, and hwy 13. Just the home you've been looking for!

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PRICE & RENT TRENDS

Neighborhood: Forestland

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $253k1238k

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

Neighborhood: Forestland

NeighborhoodNIR Market*CityMarket2010Year20012019 Q21500200025003000350040004500Rent in $14184719

* 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
 

$886,500$1,083,500$985,000

PURCHASE PRICE

$5,382$6,578$5,980

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k$60k$70k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,980
EXPENSES Loan Payment -$3,634
Property Tax -$1,198
Property Insurance -$80
Property Management Fees -$293
CASH FLOW
$774

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.

$985,000

PROJECTED PRICE

$5,980

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 6.80%
Maintenance Year (1-5) 8.00%
Vacancy 5.09%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$266,775

INVESTMENT

$266,775

Down Payment
$246,250
Rehab Estimate
$5,750
Closing Costs
$14,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$3,634

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $246,250
Loan Amount $738,750
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$196,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,980

    LIST RENT
  • $2.72

    LIST RENT PER SQFT
  • $7,414

    COMP ESTIMATED VALUE
  • $3.37

    COMP AVG. RENT PER SQFT
Comps Range
$5,980
1$5,9802$8,000
$8,000
RENT COMPS ANALYSIS
  • 7352 Saroni Dr Oakland, 1
    • 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $5,980
    • $2.72
    •  
  • 341 Pacific Ave Piedmont, 2
    • 3 beds 4 baths ∙ 2,373 Sqft ∙ Built 1936 3 beds 4 baths ∙ 2,373 Sqft ∙ Built 1936
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $8,000
    • $3.37
    •  
PROPERTY LISTING DETAILS
Linda Elkin
Red Oak Realty
BESbswy