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14714 Kit Carson St Marina, CA 93933

3 Beds 3 Baths 1,690 sqft Built 2017

$695,000

List Price

$3,660

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $411.24
  • 5 Days on Market
  • MLS # : ML81819273
  • Updated Date : 11/11/2020 at 12:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw Coastal Estates

Listing Agent's Description

You are going to love this nicely upgraded Mariposa home in the wonderful East Garrison community. This 3 bedrooms and 2- and one-half baths home with nearly 1700 square feet of living space was built new in 2017 and is located close to hiking trails and a large park. Features and upgrades include an open design layout with a large kitchen island, white cabinets, granite countertops, laminate flooring, white quartz countertops in the bathrooms, surround sound, and a beautifully landscaped side yard. Being centrally located with easy access to the beach, Monterey Peninsula cities, Salinas, Hwy 101 or Hwy 1, makes this a perfect place to call 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: 93933

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $243k857k

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

Zip Code: 93933

ZipNIR 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
J.c. Crumpton Elementary School Primary Regular 365 17 4
Los Arboles Middle School Middle Regular 620 31 2
Marina High School High Regular 559 31 6

J.c. Crumpton Elementary School

  • Education Level: Primary
  • # of students: 365
  • # of teachers: 17
4
GreatSchools Rating

Los Arboles Middle School

  • Education Level: Middle
  • # of students: 620
  • # of teachers: 31
2
GreatSchools Rating

Marina High School

  • Education Level: High
  • # of students: 559
  • # of teachers: 31
6
GreatSchools Rating
 

$625,500$764,500$695,000

PURCHASE PRICE

$3,294$4,026$3,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,660
EXPENSES Loan Payment -$2,564
Property Tax -$661
Property Insurance -$67
HOA -$125
Property Management Fees -$143
CASH FLOW
$100

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.

$695,000

PROJECTED PRICE

$3,660

PROJECTED RENT

0.53%

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 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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,564

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$42,016

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
  • $4,259

    COMP ESTIMATED VALUE
  • $2.52

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,700
$4,700
RENT COMPS ANALYSIS
  • 14714 Kit Carson St Marina, CA 1
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16334 E Garrison Dr Marina, CA 2
    • 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 2016
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $2.52
    •  
PROPERTY LISTING DETAILS
Monterey Peninsula Home Team
Kw Coastal Estates
BESbswy