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2070 Yosemite St Seaside, CA 93955

3 Beds 2 Baths 1,327 sqft Built 1956

$695,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1956
  • Price/Sqft : $523.74
  • 12 Days on Market
  • MLS # : ML81817249
  • Updated Date : 10/23/2020 at 20:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,327 sqft
  • Baths : 2 full
Listing Agent

Shankle Real Estate

Listing Agent's Description

Welcome home! Come and see this cozy 3 bedroom 2 bath home situated in the sunbelt of Upper Seaside in a Desirable neighborhood with a great central location and access to major highways, shopping and walking trails. This wonderful home is move-in ready! Beautifully updated kitchen and baths with garden windows and tile floors. There is a lovely and spacious living room/dining room combination featuring an attractive wood burning fireplace plus an extra bonus room to be used as a home office or a play room for the kids. Off the bonus room is a laundry room that opens to the sunny and private backyard patio. The tiled patio area has new awnings and lighting, perfect for having family and friends over for evening entertainment. The spacious 6,000 sq. ft. lot is just waiting for you to create your own garden oasis, dog run or family play area. You know what else this home has? RV PARKING! plus 2 spacious driveways offering an abundance of additional parking for your family and guests.

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MARKET HIGHLIGHTS

  • 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 6th best city for future job growth (Forbes, 2019)
  • 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)

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
 

$625,500$764,500$695,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,564
Property Tax -$655
Property Insurance -$58
Property Management Fees -$129
CASH FLOW
-$407

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.

$695,000

PROJECTED PRICE

$3,000

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$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,564

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$10,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $3,105

    COMP ESTIMATED VALUE
  • $2.34

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0003$3,150
$3,150
RENT COMPS ANALYSIS
  • 2070 Yosemite St Seaside, CA 2
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.26
    •  
  • 2090 Hacienda St Seaside, CA 1
    • 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
    •  
  • 1791 Napa St Seaside, CA 3
    • 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
Suzanne Menendez-herbst
Shankle Real Estate
BESbswy