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1700 Soto St 
Seaside, CA
93955
3 Beds 2 Baths 1,106 sqft
Built 1957
INVESTimate
$589,000
List Price
$161,835
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PROPERTY INFO
FACTS
- Built In 1957
- Price/Sqft : $532.55
- 3 Days on Market
- MLS # : ML81807533
- Updated Date : 08/24/2020 at 13:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,106 sqft
- Baths : 1 full , 1 half
Listing Agent
Willpower Realty, Inc
Listing Agent's Description
DIP YOUR TOES IN THE SAND & SURF! This Coastal Cottage, tastefully remodeled in 2015, is situated on a corner lot across the street from Highland Otis Park & just minutes to the beach, with a peek-a-boo Ocean View from your living room. Kitchen features granite counter tops, custom decorative tile back-splash, stainless steel appliances, brand new dishwasher, modern cabinetry & tile flooring. Both bathrooms have been updated with porcelain sinks, brushed nickel faucets & fixtures, stylish vanity, tile shower with ornamental accents, & tile flooring. Fenced back yard and Attached Garage with driveway for off street parking. Located just 2 blocks from the renowned K-8 charter school, International School of Monterey. Don't miss your opportunity to live near the world famous California Coast!
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MARKET HIGHLIGHTS
- Santa Cruz is the 6th best city for future job growth (Forbes, 2019)
- North Central Coast, CA area contributes to 10.2% of California state economy i.e. Gross State Product (USMayors.org, 2018)
- 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
Neighborhood: Del Monte Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Del Monte Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,660 |
| EXPENSES | Loan Payment | -$2,173 |
| Property Tax | -$544 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$240
|
||
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.
$589,000
PROJECTED PRICE
$2,660
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.50% |
| Appreciation Year (1-5) | 8.05% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.80% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$161,835
LOAN DETAILS
$2,173
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $147,250 |
| Loan Amount | $441,750 |
2.58
YEARS SAVED
$14,824
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,660
LIST RENT -
$2.41
LIST RENT PER SQFT
-
$2,798
COMP ESTIMATED VALUE -
$2.53
COMP AVG. RENT PER SQFT
Comps Range
-
1700 Soto St Seaside, 1
- 3 beds 2 baths ∙ 1,106 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,106 Sqft ∙ Built 1957
- Rent
- Rent Per SQFT
- $2,660
- $2.41
-
2090 Hacienda St Seaside, 2
- 4 beds 2 baths ∙ 1,184 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,184 Sqft ∙ Built 1957
LEASED 04/04/20- Rent
- Rent Per SQFT
- $3,000
- $2.53
PROPERTY LISTING DETAILS
Willpower Realty, Inc
