Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1977 Mariposa St Seaside, CA 93955

3 Beds 2 Baths 1,220 sqft Built 1955

$685,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $561.48
  • 6 Days on Market
  • MLS # : ML81818585
  • Updated Date : 11/12/2020 at 14:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,220 sqft
  • Baths : 2 full
Listing Agent

Coast To Valley Realty

Listing Agent's Description

Located on the beautiful Monterey Peninsula, this desirable upper Seaside gem is move-in-ready! This home boasts a bright and spacious kitchen. The living room features large windows filling the room with natural sunlight, and for those cooler beach nights, there's a cozy fireplace. The master bedroom has an en-suite bathroom and two closets. Recent upgrades include refinished hardwood floors throughout, new interior paint, partial exterior paint, new garage door, a 10 year old roof, and a permitted master bathroom addition. The yards feature low maintenance landscape. With a backyard deck to soak in the sun and ocean breezes, there's plenty of room for relaxation and gardening on this spacious 7,000 sq. ft. lot! Future possibilities may include a viewing deck to observe breathtaking ocean views and magical sunsets. This wonderful house has close proximity to beaches, hiking, bike trails, dog parks, shopping, and restaurants. Welcome home!

SEE MORE

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

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
 

$616,500$753,500$685,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,527
Property Tax -$646
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$418

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.

$685,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.43%

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

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$187,275

INVESTMENT

$187,275

Down Payment
$171,250
Rehab Estimate
$5,750
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$9,592

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,087

    COMP ESTIMATED VALUE
  • $2.53

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,000
$3,000
RENT COMPS ANALYSIS
  • 1977 Mariposa St Seaside, CA 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 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
Renee Venegas
Coast To Valley Realty
BESbswy