Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

121 Hugus Ave Santa Cruz, CA 95062

3 Beds 3 Baths 1,651 sqft Built 1940

$950,000

List Price

$3,980

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1940
  • Price/Sqft : $575.41
  • 5 Days on Market
  • MLS # : ML81818307
  • Updated Date : 10/30/2020 at 22:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,651 sqft
  • Baths : 3 full
Listing Agent

David Lyng Real Estate

Listing Agent's Description

Bring your ideas and creativity to make this Santa Cruz home your own. This light & bright single level home is situated in a sunny and convenient location, just a short stroll to The Buttery, Shoppers Corner and Whole Foods. Outstanding neighborhood! This is one of the sweetest Eastside streets. A longer walk or quick bike ride will take you to the harbor, Seabright Beach or downtown. Features include a spacious living room, dining room, dedicated office space with hardwired Ethernet, private fully fenced backyard and ample garden space. Too many upgrades to list with this home, must see for yourself. This is an excellent opportunity for someone wanting to add the finishing touches to this already upgraded home.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 95062

ZipNIR Market*CityMarket2010Year20002019350k400k450k500k550k600k650k700k750k800k850k900kPrice in $335k941k

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

Zip Code: 95062

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
De Laveaga Elementary School Primary Regular 650 28 5
Mission Hill Middle School Middle Regular 641 26 6
Harbor High School High Regular 1,032 42 8

De Laveaga Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 28
5
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
 

$855,000$1,045,000$950,000

PURCHASE PRICE

$3,582$4,378$3,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,980
EXPENSES Loan Payment -$3,505
Property Tax -$934
Property Insurance -$70
Property Management Fees -$155
CASH FLOW
-$684

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.

$950,000

PROJECTED PRICE

$3,980

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$6,384

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
  • $4,557

    COMP ESTIMATED VALUE
  • $2.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,6003$3,8004$5,200
$5,200
RENT COMPS ANALYSIS
  • 121 Hugus Ave Santa Cruz, CA 1
    • 3 beds 3 baths ∙ 1,651 Sqft ∙ Built 1940 3 beds 3 baths ∙ 1,651 Sqft ∙ Built 1940
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 140 Monterey St Santa Cruz, CA 2
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1959
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.44
    •  
  • 223 Caledonia St Santa Cruz, CA 3
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1933 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1933
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.75
    •  
  • 941 High St Santa Cruz, CA 4
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1956
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,200
    • $3.09
    •  
PROPERTY LISTING DETAILS
Jenifer Gibson
David Lyng Real Estate
BESbswy