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996 40th Street Oakland, CA 94608

3 Beds 1 Baths 1,227 sqft Built 1923

INVESTimate

$1,100,000

List Price

$3,440

$3,190 - $3,690

Rent Est.

$1,230,680  ( +11.88%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1923
  • Price/Sqft : $896.50
  • 3 Days on Market
  • MLS # : MR40917114
  • Updated Date : 08/24/2020 at 03:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,227 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker-the Real Estate People

Listing Agent's Description

This property has the sewer lateral completed, the foundation has been replaced and the And is located in a very desirable area The City of Oakland zoning has approved this lot for a second Detached single family residence This home is a charming 3 bedroom 11/2 bath split level home craftsman style Great hip location nearby vibrant restaurants and shopping. A short walk to Mc Carthur Bart Station and major bus lines . 88 walk score 83 bike score Borders City of Emeryville across the street

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PRICE & RENT TRENDS

Neighborhood: Longfellow

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $244k1015k

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

Neighborhood: Longfellow

NeighborhoodNIR Market*CityMarket2010Year20012019 Q2140016001800200022002400260028003000320034003600Rent in $13913689

* 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
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,096$3,784$3,440

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$4,059
Property Tax -$1,338
Property Insurance -$57
Property Management Fees -$169
CASH FLOW
-$2,182

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.

$1,100,000

PROJECTED PRICE

$3,440

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.88%
Maintenance Year (1-5) 8.00%
Vacancy 4.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,059

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$52

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
  • $3,485

    COMP ESTIMATED VALUE
  • $2.84

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3003$4,250
$4,250
RENT COMPS ANALYSIS
  • 996 40th Street Oakland, 1
    • 3 beds 1 baths ∙ 1,227 Sqft ∙ Built 1923 3 beds 1 baths ∙ 1,227 Sqft ∙ Built 1923
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 702 30th Street Oakland, 2
    • 4 beds 2 baths ∙ 1,501 Sqft ∙ Built 1908 4 beds 2 baths ∙ 1,501 Sqft ∙ Built 1908
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.20
    •  
  • 50 Olive Ave Piedmont, 3
    • 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1923 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1923
    property image
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $3.48
    •  
PROPERTY LISTING DETAILS
Debra Walker Perkins
Coldwell Banker-the Real Estate People
BESbswy