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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 95060
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$323,750
LOAN DETAILS
$4,427
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $300,000 |
| Loan Amount | $900,000 |
-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
-
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
Coldwell Banker Realty
