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1829 Harding St Seaside, CA 93955

3 Beds 1 Baths 1,092 sqft Built 1954

$549,900

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $503.57
  • 5 Days on Market
  • MLS # : ML81818766
  • Updated Date : 11/04/2020 at 10:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,092 sqft
  • Baths : 1 full
Listing Agent

Homebay Broker

Listing Agent's Description

The house was built in 1954. It is 1020 sq. ft. on a 3700 sq. ft. lot. The house has a single garage, 3 bedrooms, 1 bath, living room and a kitchen/dining room. The house was remodeled in 2016. Hardwood oak floor has been restored, remodeled bathroom and kitchen equipped with stove, dishwasher, no refrigerator, washer and dryer, new blinds installed, new water heater, newly repaired and painted fence. Copper piping throughout. Move in ready with very little repairs if any.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hannon

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $164k601k

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

Neighborhood: Hannon

NeighborhoodNIR Market*CityMarket2015Year20132019 Q2180019002000210022002300240025002600Rent in $17962688

* 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
Ord Terrace Elementary School Primary Regular 489 22 3
Seaside Middle School Middle Regular 753 39 2
Seaside High School High Regular 1,119 58 4

Ord Terrace Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 22
3
GreatSchools Rating

Seaside Middle School

  • Education Level: Middle
  • # of students: 753
  • # of teachers: 39
2
GreatSchools Rating

Seaside High School

  • Education Level: High
  • # of students: 1,119
  • # of teachers: 58
4
GreatSchools Rating
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,029
Property Tax -$519
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$129

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.

$549,900

PROJECTED PRICE

$2,600

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 8.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$19,999

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $2.38

    LIST RENT PER SQFT
  • $2,763

    COMP ESTIMATED VALUE
  • $2.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$3,000
$3,000
RENT COMPS ANALYSIS
  • 1829 Harding St Seaside, CA 1
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.38
    •  
  • 2090 Hacienda St Seaside, CA 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
David Bezeau
Homebay Broker
BESbswy