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1013 Jefferson St 
Monterey, CA
93940
4 Beds 3 Baths 1,196 sqft
Built 1964
INVESTimate
$550,000
List Price
$151,500
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PROPERTY INFO
FACTS
- Built In 1964
- Price/Sqft : $459.87
- 2 Days on Market
- MLS # : ML81807668
- Updated Date : 08/25/2020 at 13:02
CONSTRUCTION
- Beds : 4
- Floor Size : 1,196 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Fantastic Opportunity Awaits in a Prime Upper Monterey Location! Restore this home to its former glory. Excellent location at the top of the hill in Monterey is this 4 Bed, 2.5 Bath home - within walking distance of DLI. This listing includes an empty, adjacent lot: APN 001-331-011 Street to Street parcels, these lots are open and sunny and the house comes to you as a fixer that needs a lot of TLC. The possibilities are endless on how these two lots can be transformed into something better.
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MARKET HIGHLIGHTS
- Santa Cruz is the 6th best city for future job growth (Forbes, 2019)
- North Central Coast, CA area contributes to 10.2% of California state economy i.e. Gross State Product (USMayors.org, 2018)
- North Central Coast, CA area has 62.2% labor force participation rate; within this area, Salinas, CA metro has 62.5% and Santa Cruz-Watsonville, CA metro has 61.8% labor force participation rate (USMayors.org, 2018)
- Santa Cruz is the headquarters to technology companies: Looker.com, Plantronics, FileOpen and major university system - University of California, Santa Cruz (Santa Cruz Economic Development, 2019)
PRICE & RENT TRENDS
Neighborhood: Old Town
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Old Town
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,420 |
| EXPENSES | Loan Payment | -$2,029 |
| Property Tax | -$513 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$133 | |
|
CASH FLOW
$689
|
||
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.
$550,000
PROJECTED PRICE
$3,420
PROJECTED RENT
0.62%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.50% |
| Appreciation Year (1-5) | 11.30% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.80% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,500
LOAN DETAILS
$2,029
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
10.58
YEARS SAVED
$104,650
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,420
LIST RENT -
$2.86
LIST RENT PER SQFT
-
$3,289
COMP ESTIMATED VALUE -
$2.75
COMP AVG. RENT PER SQFT
Comps Range
-
1013 Jefferson St Monterey, 2
- 4 beds 3 baths ∙ 1,196 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,196 Sqft ∙ Built 1964
- Rent
- Rent Per SQFT
- $3,420
- $2.86
-
125 Via Gayuba Monterey, 1
- 4 beds 2 baths ∙ 1,165 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,165 Sqft ∙ Built 1956
LEASED 07/12/20- Rent
- Rent Per SQFT
- $3,200
- $2.75
PROPERTY LISTING DETAILS
Coldwell Banker Realty
