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8605 Mahogany Pl Newark, CA 94560

4 Beds 4 Baths 2,001 sqft Built 1994

INVESTimate

$1,175,000

List Price

$3,100

$2,850 - $3,350

Rent Est.

$1,334,095  ( +13.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $587.21
  • 8 Days on Market
  • MLS # : BE40917358
  • Updated Date : 08/24/2020 at 17:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,001 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Located in the desirable Gateway community in Newark, this spacious single-family home backs up to the Don Edwards Natural Preserve and features 4+ bedrooms/3.5 bathrooms. Bright and open living room and dining room with wood flooring. Updated kitchen with maple cabinets, granite countertops, decorative backsplash, pantry cabinet, stainless steel refrigerator, gas range/oven, under cabinet lighting, recessed lights, and a garden window. Family room with gas burning fireplace and sliding door access to the back yard. Spacious master bedroom with vaulted ceilings. Adjacent master bathroom with dual sinks, stall shower, soaking tub, and a large walk-in closet. 4th and 5th bedrooms converted to one large room with an added bathroom. Private back yard with patio, concrete planter boxes, and no rear neighbors. HOA amenities include: Playground and common area maintenance. Other wonderful features include: Air conditioner, dual pane windows, and hardwood flooring throughout lower level.

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PRICE & RENT TRENDS

Neighborhood: Newark

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $249k1015k

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

Neighborhood: Newark

NeighborhoodNIR Market*CityMarket2010Year20012019 Q216001800200022002400260028003000Rent in $15853195

* 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
Schilling Elementary School Primary Regular 468 19 3
Newark Junior High School Middle Regular 906 41 4
Newark Memorial High School High Magnet 1,850 73 6

Schilling Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 19
3
GreatSchools Rating

Newark Junior High School

  • Education Level: Middle
  • # of students: 906
  • # of teachers: 41
4
GreatSchools Rating

Newark Memorial High School

  • Education Level: High
  • # of students: 1,850
  • # of teachers: 73
6
GreatSchools Rating
 

$1,057,500$1,292,500$1,175,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

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-$45k-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$4,335
Property Tax -$1,283
Property Insurance -$75
HOA -$50
Property Management Fees -$152
CASH FLOW
-$2,795

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.

$1,175,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.54%
Maintenance Year (1-5) 8.00%
Vacancy 4.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$317,125

INVESTMENT

$317,125

Down Payment
$293,750
Rehab Estimate
$5,750
Closing Costs
$17,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$4,335

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $293,750
Loan Amount $881,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$80

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $3,068

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$3,1003$3,4004$4,300
$4,300
RENT COMPS ANALYSIS
  • 8605 Mahogany Pl Newark, 2
    • 4 beds 4 baths ∙ 2,001 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,001 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.55
    •  
  • 37235 Acorn Pl Newark, 1
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2002
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 34521 Winslow Ter Fremont, 3
    • 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 1987
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.97
    •  
  • 6280 Honeysuckle Dr Newark, 4
    • 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2000
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.90
    •  
PROPERTY LISTING DETAILS
Brooke Crossland
Coldwell Banker Realty
BESbswy