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217 Hubbard St Santa Cruz, CA 95060

3 Beds 3 Baths 1,411 sqft Built 1968

$900,000

List Price

$3,700

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $637.85
  • 2 Days on Market
  • MLS # : ML81824396
  • Updated Date : 01/02/2021 at 10:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,411 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

Walk to all conveniences of town and ride your bike to the beach from this sweet SINGLE LEVEL abode. This parcel is a gardeners delight featuring productive olive/persimmon/apple trees, a spacious garden bed and 3 decks. The floorplan lends itself to multigenerational living. The master suite is ideally situated at the back of the home and has been used as a guest suite with its own deck and separate entrance. The garage has also been used as a guest suite with its own entrance. The large mud room/ laundry/storage room is ideally situated. The family room features a cozy wood burning fireplace and a view of the lush garden. One spacious room is ideal as an at home office or as a formal living room or as a formal dining room. Recent updates are new flooring, fresh interior paint, new light fixtures and a new Bryant digital thermostat. The one-way lane is a quiet street and the neighbors are very nice! See it before it's gone!

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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)
  • 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)

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
 

$810,000$990,000$900,000

PURCHASE PRICE

$3,330$4,070$3,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,700
EXPENSES Loan Payment -$3,321
Property Tax -$885
Property Insurance -$63
Property Management Fees -$144
CASH FLOW
-$713

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.

$900,000

PROJECTED PRICE

$3,700

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,250

INVESTMENT

$244,250

Down Payment
$225,000
Rehab Estimate
$5,750
Closing Costs
$13,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $225,000
Loan Amount $675,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$4,447

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
  • $3,908

    COMP ESTIMATED VALUE
  • $2.77

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,6003$4,5004$5,200
$5,200
RENT COMPS ANALYSIS
  • 217 Hubbard St Santa Cruz, CA 1
    • 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 140 Monterey St Santa Cruz, CA 2
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1959
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.44
    •  
  • 115 Segre Pl Santa Cruz, CA 3
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1966
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.78
    •  
  • 941 High St Santa Cruz, CA 4
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1956
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,200
    • $3.09
    •  
PROPERTY LISTING DETAILS
Melody Russell
Exp Realty Of California Inc.
BESbswy