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220 5th Ave Santa Cruz, CA 95062

2 Beds 2 Baths 910 sqft Built 1929

$1,395,000

List Price

$3,220

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $1,532.97
  • 2 Days on Market
  • MLS # : ML81822394
  • Updated Date : 12/05/2020 at 16:20
CONSTRUCTION
  • Beds : 2
  • Floor Size : 910 sqft
  • Baths : 1 full , 1 half
Listing Agent

Hoyt & Hufford

Listing Agent's Description

RARE FRONT ROW AT THE HARBOR! Enjoy awesome SUNSETS & spectacular unobstructed VIEWS of the SANTA CRUZ YACHT HARBOR & OCEAN! 1st time on market in 48 years. Stroll to Twin Lakes Beach, Crows Nest Restaurant & launch your boat right across the street. Endless beach activities: sailing, fishing, surfing, kayaking, stand up paddle boarding, not to mention hiking, biking & beach walks-- are all out the front door. The spacious deck is perfect for outdoor dining, sipping your morning coffee & taking in the entertaining harbor views. Charming 1920's bungalow can be enjoyed as is or plan your future dream home. Interior was recently painted & new beachy flooring added throughout. Office/den has been used as a 3rd BR (no closet). Don't miss the bonus storage space(or wine cellar possibilities) in large unfinished basement. Onsite parking. You'll feel like you're on vacation everyday as you fall in love with the coastal lifestyle available here. Please view the virtual tour; then call for appt.

SEE MORE

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

Zip Code: 95062

ZipNIR Market*CityMarket2010Year20002019350k400k450k500k550k600k650k700k750k800k850k900kPrice in $335k941k

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

Zip Code: 95062

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
Mission Hill Middle School Middle Regular 641 26 6
Harbor High School High Regular 1,032 42 8
Cypress Charter High School High Charter 152 10 6

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

Cypress Charter High School

  • Education Level: High
  • # of students: 152
  • # of teachers: 10
6
GreatSchools Rating
 

$1,255,500$1,534,500$1,395,000

PURCHASE PRICE

$2,898$3,542$3,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,220
EXPENSES Loan Payment -$5,147
Property Tax -$1,473
Property Insurance -$51
Property Management Fees -$129
CASH FLOW
-$3,579

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.

$1,395,000

PROJECTED PRICE

$3,220

PROJECTED RENT

0.23%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.8%
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$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$375,425

INVESTMENT

$375,425

Down Payment
$348,750
Rehab Estimate
$5,750
Closing Costs
$20,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$5,147

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $348,750
Loan Amount $1,046,250
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$2,210

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
  • $2,202

    COMP ESTIMATED VALUE
  • $2.42

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,900
$2,900
RENT COMPS ANALYSIS
  • 220 5th Ave Santa Cruz, CA 1
    • 2 beds 2 baths ∙ 910 Sqft ∙ Built 1929 2 beds 2 baths ∙ 910 Sqft ∙ Built 1929
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2250 Harper St Santa Cruz, CA 2
    • 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1948 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1948
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.42
    •  
PROPERTY LISTING DETAILS
Deb Hoyt
Hoyt & Hufford
BESbswy