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15169 Breckinridge Ave East Garrison, CA 93933

4 Beds 3 Baths 1,866 sqft Built 2016

$727,000

List Price

$3,880

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $389.60
  • 3 Days on Market
  • MLS # : ML81825110
  • Updated Date : 01/08/2021 at 15:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,866 sqft
  • Baths : 3 full
Listing Agent

Re/max Real Estate Services

Listing Agent's Description

East Garrison Community beauty features 4 bedrooms 3 baths with a detached 2-car garage. The kitchen boasts a spacious island, granite countertops & stainless steel appliances, tile and carpet throughout, master bedroom with walk-in closet. Centrally located near shopping, restaurants, beach & hiking trails.

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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
 

$654,300$799,700$727,000

PURCHASE PRICE

$3,492$4,268$3,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,880
EXPENSES Loan Payment -$2,525
Property Tax -$816
Property Insurance -$71
HOA -$125
Property Management Fees -$151
CASH FLOW
$191

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.

$727,000

PROJECTED PRICE

$3,880

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$198,405

INVESTMENT

$198,405

Down Payment
$181,750
Rehab Estimate
$5,750
Closing Costs
$10,905

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,525

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,750
Loan Amount $545,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$40,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,880

    LIST RENT
  • $2.08

    LIST RENT PER SQFT
  • $4,702

    COMP ESTIMATED VALUE
  • $2.52

    COMP AVG. RENT PER SQFT
Comps Range
$3,880
1$3,8802$4,700
$4,700
RENT COMPS ANALYSIS
  • 15169 Breckinridge Ave East Garrison, CA 1
    • 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,880
    • $2.08
    •  
  • 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
Noe Renteria
Re/max Real Estate Services
BESbswy