Oakland, CA Bungalow

This charming Oakland bungalow is situated on the east side and is listed for only $104,900. Tons of original detail remains in this house, built in 1917. Zillow.com estimates that this house is worth $261,000. The previous owner paid $142,500 for this house two years ago (7/25/2006); at that price, it is likely that the transaction was an arm’s length transaction, such as a transaction between relatives (in 2006 a house like this would have easily sold for over $400k).


In the strong Bay Area economy, this REO poses an amazing opportunity for a first-time homebuyer or an investor. With some minor updating (probably about $5,000), this house will be ready for occupancy. This is a clean, well-maintained block, and the house could be rented for $1,000 to $1,200 per month, covering the mortgage and other expenses. This house is available at its late 1990s price, so it is definitely worth a look for any Northern California REO shopper.



The basics...
Address: 5416 Wadean Place, Oakland, CA 94601
Current Listing Price: $104,900
PREVIOUS Sale Price: $142,500 (7/25/2006)
Size: 2 Bedrooms, 1 Bathrooms; 886 square feet
Lot: .07 acres

http://www.realtor.com/realestate/oakland-ca-94601-1101036748/