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211 Market St Santa Cruz, CA 95060

2 Beds 1 Baths 1,016 sqft Built 1962

$789,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $776.57
  • 2 Days on Market
  • MLS # : ML81820359
  • Updated Date : 11/28/2020 at 17:10
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,016 sqft
  • Baths : 1 full
Listing Agent

Bailey Properties

Listing Agent's Description

This quintessential Santa Cruz bungalow oozes a charm and character not captured in the current photos! It is Perfect. An ideal location that makes a commute easy. Perfect. Walk or ride to toes-in-the-sand-beach, you are just minutes to all the magic that is Santa Cruz. Sun-drenched space inside and out - the home is warm and inviting with upgrades you will want to experience. Fenced, generously sized, front and back yards just waiting to be transformed or simply enjoyed. Updated finishes, remodeled kitchen and bathroom, dual pane windows, indoor laundry room, tankless water heater, additional garage storage A N D partially converted garage, i m a g i n e ... do you work from home, are you an artist needing a studio, need a gym, an extra bedroom and bathroom? Perfect! This an easy decision! Call 211 Market Street home and enjoy six weekly deliveries of local craft coffee, roasted to order by Riverview Coffee Roasters. P L E A S E check back for updated photographs.

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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 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)

PRICE & RENT TRENDS

Zip Code: 95060

ZipNIR Market*CityMarket2010Year20002019350k400k450k500k550k600k650k700k750k800k850k900k950k1000kPrice in $335k1002k

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

Zip Code: 95060

No Data Available.

* 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
De Laveaga Elementary School Primary Regular 650 28 5
Mission Hill Middle School Middle Regular 641 26 6
Harbor High School High Regular 1,032 42 8

De Laveaga Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 28
5
GreatSchools Rating

Mission Hill Middle School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 26
6
GreatSchools Rating

Harbor High School

  • Education Level: High
  • # of students: 1,032
  • # of teachers: 42
8
GreatSchools Rating
 

$710,100$867,900$789,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,911
Property Tax -$775
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$619

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$789,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$214,835

INVESTMENT

$214,835

Down Payment
$197,250
Rehab Estimate
$5,750
Closing Costs
$11,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,911

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $197,250
Loan Amount $591,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$4,091

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
  • $3,551

    COMP ESTIMATED VALUE
  • $3.5

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9503$3,400
$3,400
RENT COMPS ANALYSIS
  • 211 Market St Santa Cruz, CA 1
    • 2 beds 1 baths ∙ 1,016 Sqft ∙ Built 1962 2 beds 1 baths ∙ 1,016 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1170 Whitewater Cv Santa Cruz, CA 2
    • 2 beds 1 baths ∙ 987 Sqft ∙ Built 1982 2 beds 1 baths ∙ 987 Sqft ∙ Built 1982
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.99
    •  
  • 606 Washington St Santa Cruz, CA 3
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1974 2 beds 1 baths ∙ 850 Sqft ∙ Built 1974
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $4.00
    •  
PROPERTY LISTING DETAILS
Karla Stevens Mainis
Bailey Properties
BESbswy