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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ord Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$189,925
LOAN DETAILS
$2,564
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $173,750 |
| Loan Amount | $521,250 |
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
-
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
Shankle Real Estate
