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2822 Mattison Ln Santa Cruz, CA 95065

3 Beds 2 Baths 1,462 sqft Built 1982

$889,000

List Price

$3,770

$3.5K - $4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $608.07
  • 6 Days on Market
  • MLS # : ML81823851
  • Updated Date : 12/23/2020 at 11:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,462 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mm

Listing Agent's Description

Santa Cruz country living in the heart of Town. Close to everything, Schools, Shopping, & Surfing. A traditional home in a great location. Lovingly cared for by current owners for over 25 years. 3 bedrooms, 2 bathrooms single level property. Large window in living room overlooking the mature trees in front yard. Kitchen & dining area offers lots of space to cook & entertain. The bonus Sun room offers plenty of light to sit and read, do artwork, or a room for your kids to play overlooking the side yard. Home was recently painted inside, new carpet installed in 2 bedrooms, all rooms have nice views of outside. 2 car garage, with extra parking for boat, RV , or fence it in for a larger more private yard. Home is walking distance to Silver Spur Restaurant, just 5 min drive to Hwy 1 & Soquel Drive. The outside yard is perfect to grow flowers, or a garden and plenty of room for your 4 legged pets. Stop by this home, affordable, move in ready & lots of room to live & enjoy with your family.

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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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 95065

ZipNIR Market*CityMarket2010Year20002019350k400k450k500k550k600k650k700k750k800k850k900kPrice in $335k941k

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

Zip Code: 95065

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
Soquel High School High Regular 1,075 40 7

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

Soquel High School

  • Education Level: High
  • # of students: 1,075
  • # of teachers: 40
7
GreatSchools Rating
 

$800,100$977,900$889,000

PURCHASE PRICE

$3,393$4,147$3,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,770
EXPENSES Loan Payment -$3,280
Property Tax -$962
Property Insurance -$65
Property Management Fees -$147
CASH FLOW
-$683

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.

$889,000

PROJECTED PRICE

$3,770

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.5%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$241,335

INVESTMENT

$241,335

Down Payment
$222,250
Rehab Estimate
$5,750
Closing Costs
$13,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,280

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $222,250
Loan Amount $666,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$4,505

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,770

    LIST RENT
  • $2.58

    LIST RENT PER SQFT
  • $4,172

    COMP ESTIMATED VALUE
  • $2.85

    COMP AVG. RENT PER SQFT
Comps Range
$3,770
1$3,7702$4,3003$4,4004$4,500
$4,500
RENT COMPS ANALYSIS
  • 2822 Mattison Ln Santa Cruz, CA 1
    • 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $3,770
    • $2.58
    •  
  • 415 Hickman Ct Santa Cruz, CA 2
    • 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1986
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.86
    •  
  • 2167 Francesco Cir Capitola, CA 3
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 1997
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.60
    •  
  • 1915 Halterman Ave Santa Cruz, CA 4
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1966
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.10
    •  
PROPERTY LISTING DETAILS
Sira Taylor
Century 21 Mm
BESbswy