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1086 Alameda St Monterey, CA 93940

3 Beds 3 Baths 1,920 sqft Built 1946

$1,195,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $622.40
  • 3 Days on Market
  • MLS # : ML81820249
  • Updated Date : 11/13/2020 at 15:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,920 sqft
  • Baths : 3 full
Listing Agent

Kw Coastal Estates

Listing Agent's Description

Located within the coveted Peters Gate neighborhood, one of Monterey's most desirable neighborhoods, sits this tastefully updated, single level home. This turnkey property offers 3 bedrooms, 3 full bathrooms, living room and formal dining room that share a cozy gas fireplace, additional family room and an expansive, usable backyard. The kitchen highlights a breakfast bar, Viking stainless appliances, custom subway tile backsplash throughout and sleek quartz countertops. The master bedroom boasts high ceilings and a fresh, modern en-suite bathroom with custom tile shower and a spacious double sink vanity. The private third bedroom features a private entry and bathroom. Enjoy relaxing or entertaining in the private backyard with the serene forest setting and quaint seasonal stream. This gem is located within an incredibly short distance to Del Monte Shopping Center as well as downtown Monterey and Fishermans Wharf!

SEE MORE

MARKET HIGHLIGHTS

  • North Central Coast, CA area contributes to 10.2% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Santa Cruz is the 6th best city for future job growth (Forbes, 2019)
  • 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: Monterey Vista

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $245k857k

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

Neighborhood: Monterey Vista

NeighborhoodNIR Market*CityMarket2015Year20132019 Q220002200240026002800300032003400Rent in $18063467

* 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
Monte Vista Elementary School Primary Regular 349 15 6
Walter Colton Middle School Middle Regular 724 35 2
Monterey High School High Regular 1,246 60 7

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 349
  • # of teachers: 15
6
GreatSchools Rating

Walter Colton Middle School

  • Education Level: Middle
  • # of students: 724
  • # of teachers: 35
2
GreatSchools Rating

Monterey High School

  • Education Level: High
  • # of students: 1,246
  • # of teachers: 60
7
GreatSchools Rating
 

$1,075,500$1,314,500$1,195,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$4,409
Property Tax -$1,115
Property Insurance -$72
Property Management Fees -$129
CASH FLOW
-$2,565

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.

$1,195,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

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

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$322,425

INVESTMENT

$322,425

Down Payment
$298,750
Rehab Estimate
$5,750
Closing Costs
$17,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,409

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $298,750
Loan Amount $896,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$117

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
  • $3,494

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,650
$3,650
RENT COMPS ANALYSIS
  • 1086 Alameda St Monterey, CA 1
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1946 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 492 Larkin St Monterey, CA 2
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1946 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1946
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.83
    •  
PROPERTY LISTING DETAILS
The Ruiz Group
Kw Coastal Estates
BESbswy