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1931 Yosemite St Seaside, CA 93955

3 Beds 2 Baths 1,620 sqft Built 1954

INVESTimate

$675,000

List Price

$3,070

$2,820 - $3,320

Rent Est.

$735,008  ( +8.89%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1954
  • Price/Sqft : $416.67
  • 9 Days on Market
  • MLS # : ML81806433
  • Updated Date : 08/24/2020 at 13:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Looking for Ocean views? This is it...From your living room and backyard are some amazing views. Located on a 7,000 sq. foot lot is this 3 bedroom, 2 bath, 1620 square foot, single level home with a 1 car garage needs some love but could be such a dream with some TLC. The home is being sold AS IS.

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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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ord Grove

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $203k601k

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

Neighborhood: Ord Grove

NeighborhoodNIR Market*CityMarket2015Year20132019 Q21700180019002000210022002300240025002600Rent in $16232688

* 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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$2,490
Property Tax -$636
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$251

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.

$675,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 8.89%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$17,190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $3,483

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$3,070
1$3,0702$3,150
$3,150
RENT COMPS ANALYSIS
  • 1931 Yosemite St Seaside, 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $1.90
    •  
  • 1791 Napa St Seaside, 2
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1958
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.15
    •  
PROPERTY LISTING DETAILS
Annette Boggs
Coldwell Banker Realty
BESbswy