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1485 47th Ave Capitola, CA 95010

2 Beds 1 Baths 960 sqft Built 1934

$798,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1934
  • Price/Sqft : $831.25
  • 3 Days on Market
  • MLS # : ML81825995
  • Updated Date : 01/16/2021 at 13:20
CONSTRUCTION
  • Beds : 2
  • Floor Size : 960 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

This sweet fixer of a home is in one of the most desirable locations in the Capitola Jewel Box. Enjoy the lifestyle this area offers: just 5 short blocks to miles of beaches and surfing, walk or bike to downtown Capitola Esplanade for shopping, dining, beach & surf, a 1/2 mile to Jade Street Park with playground, tennis & basketball courts, walk to Whole Foods and walk to the historic Capitola Shadowbrook restaurant for fine dining. Don't miss your chance to own a piece of the Capitola Jewel Box!

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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: 95010

ZipNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850kPrice in $296k861k

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

Zip Code: 95010

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
Mission Hill Middle School Middle Regular 641 26 6
Harbor High School High Regular 1,032 42 8
Soquel High School High Regular 1,075 40 7

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

Soquel High School

  • Education Level: High
  • # of students: 1,075
  • # of teachers: 40
7
GreatSchools Rating
 

$718,200$877,800$798,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,772
Property Tax -$811
Property Insurance -$52
Property Management Fees -$129
CASH FLOW
-$1,304

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.

$798,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,220

INVESTMENT

$217,220

Down Payment
$199,500
Rehab Estimate
$5,750
Closing Costs
$11,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,772

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,500
Loan Amount $598,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$11

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,460

    LIST RENT
  • $2.56

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$2,460
1$2,460
$2,460
RENT COMPS ANALYSIS
  • 1485 47th Ave Capitola, CA
    • 2 beds 1 baths ∙ 960 Sqft ∙ Built 1934 2 beds 1 baths ∙ 960 Sqft ∙ Built 1934
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $2.56
    •  
PROPERTY LISTING DETAILS
Ted Mendoza
Exp Realty Of California Inc.
BESbswy