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110 Coalinga Way Santa Cruz, CA 95060

3 Beds 1 Baths 1,045 sqft Built 1956

$1,200,000

List Price

$3,770

$3.5K - $4K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $1,148.33
  • 8 Days on Market
  • MLS # : ML81823161
  • Updated Date : 12/19/2020 at 15:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,045 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Lower Westside petit Mid-Century Modern ready for a new owner to put the finishing touches on her good bones. Large two car garage, low maintenance yard plenty of offstreet parking....and location, location, location: 3-blocks to West Cliff, 1-block to Derby Park and Gateway School, 4-blocks to Natural Bridges State Park, and the Westsides best breweries, grocery stores, coffee shops, yoga studios, and more. This is a tight-knit one block long street, Were the neighbors have your back. Previous owner was a neighborhood favorite that watched over everyone. He died of natural causes in the home.

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

Zip Code: 95060

ZipNIR Market*CityMarket2010Year20002019350k400k450k500k550k600k650k700k750k800k850k900k950k1000kPrice in $335k1002k

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

Zip Code: 95060

No Data Available.

* 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
Bay View Elementary School Primary Regular 566 27 4
Mission Hill Middle School Middle Regular 641 26 6
Harbor High School High Regular 1,032 42 8

Bay View Elementary School

  • Education Level: Primary
  • # of students: 566
  • # of teachers: 27
4
GreatSchools Rating

Mission Hill Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 26
6
GreatSchools Rating

Harbor High School

  • Education Level: High
  • # of students: 1,032
  • # of teachers: 42
8
GreatSchools Rating
 

$1,080,000$1,320,000$1,200,000

PURCHASE PRICE

$3,393$4,147$3,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,770
EXPENSES Loan Payment -$4,427
Property Tax -$1,179
Property Insurance -$54
Property Management Fees -$147
CASH FLOW
-$2,038

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,200,000

PROJECTED PRICE

$3,770

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,427

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $300,000
Loan Amount $900,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$17

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
  • $4,008

    COMP ESTIMATED VALUE
  • $3.84

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,6003$5,300
$5,300
RENT COMPS ANALYSIS
  • 110 Coalinga Way Santa Cruz, CA 1
    • 3 beds 1 baths ∙ 1,045 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,045 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 127 Laguna St Santa Cruz, CA 2
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1960
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.46
    •  
  • 312 Liberty St Santa Cruz, CA 3
    • 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1974
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,300
    • $4.21
    •  
PROPERTY LISTING DETAILS
Gretchen Bach
Coldwell Banker Realty
BESbswy