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1835 Ord Grove Ave Seaside, CA 93955

3 Beds 2 Baths 1,124 sqft Built 1956

$720,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $640.57
  • 6 Days on Market
  • MLS # : ML81818623
  • Updated Date : 11/04/2020 at 09:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,124 sqft
  • Baths : 2 full
Listing Agent

Highnet Real Estate

Listing Agent's Description

Nicely updated home in the desirable upper Ord Grove area of Seaside. Large lot with private front and back yards and paver driveway. Hundreds of square feet of Arizona flagstone patios and decks. The oasis like back yard will make you feel like you are on a vacation in your own home. Or relax on the front patio with a view of the Monterey Bay.

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: Ord Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $203k601k

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

Neighborhood: Ord Terrace

NeighborhoodNIR Market*CityMarket2015Year20132019 Q2190020002100220023002400250026002700Rent in $18062744

* 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
 

$648,000$792,000$720,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,656
Property Tax -$679
Property Insurance -$54
Property Management Fees -$129
CASH FLOW
-$718

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.

$720,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 8.6%
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

PROJECTED ANNUAL CASH FLOW

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

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$196,550

INVESTMENT

$196,550

Down Payment
$180,000
Rehab Estimate
$5,750
Closing Costs
$10,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,656

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $180,000
Loan Amount $540,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $2.49

    LIST RENT PER SQFT
  • $2,844

    COMP ESTIMATED VALUE
  • $2.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,000
$3,000
RENT COMPS ANALYSIS
  • 1835 Ord Grove Ave Seaside, CA 1
    • 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.49
    •  
  • 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
Winder Montano
Highnet Real Estate
BESbswy