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300 Whitney Pl Marina, CA 93933

3 Beds 2 Baths 1,566 sqft Built 1964

$729,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $465.52
  • 3 Days on Market
  • MLS # : ML81820578
  • Updated Date : 11/21/2020 at 15:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,566 sqft
  • Baths : 2 full
Listing Agent

Remax Unlimited

Listing Agent's Description

Welcome home for the Holidays! You will love this charming single level home located in a highly desirable neighborhood. Enjoy walking or biking along the coast! Features include an open floor plan with new flooring, wood burning brick fireplace in living room for those cozy movie nights, separate family room, updated bathroom, dining and more! Kitchen offers beautiful oak cabinets thru-out with convenient pull out drawer features, gas range, microwave, tile countertops and breakfast bar. New paint thu-out, dual pane windows, new comp roof, new landscape pavers & DG. Plus plenty of storage & room to entertain, play, or just relax in your private fenced backyard. Easy access to shopping, food, local beaches, bike trails, kayaking at Moss Landing, Monterey, Salinas Valley, Santa Cruz or Hwy 156/101 to the bay area! Enjoy life on the coast and work from home! All Showings are by Appointment Only. All visitors must sign the PEAD-V before entering & agree to abide by posted Rules of Entry.

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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)
  • 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)
  • 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

Neighborhood: Central Marina

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $225k609k

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

Neighborhood: Central Marina

NeighborhoodNIR Market*CityMarket2015Year20132019 Q219002000210022002300240025002600270028002900300031003200Rent in $18063267

* 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
Olson Elementary School Primary Regular 413 20 3
Los Arboles Middle School Middle Regular 620 31 2
Marina High School High Regular 559 31 6

Olson Elementary School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 20
3
GreatSchools Rating

Los Arboles Middle School

  • Education Level: Middle
  • # of students: 620
  • # of teachers: 31
2
GreatSchools Rating

Marina High School

  • Education Level: High
  • # of students: 559
  • # of teachers: 31
6
GreatSchools Rating
 

$656,100$801,900$729,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,690
Property Tax -$693
Property Insurance -$64
Property Management Fees -$129
CASH FLOW
-$756

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.

$729,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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

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$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.8

    LIST RENT PER SQFT
  • $2,631

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,820
$2,820
RENT COMPS ANALYSIS
  • 300 Whitney Pl Marina, CA 2
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.80
    •  
  • 421 Windsor Ct Marina, CA 1
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1975
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.68
    •  
PROPERTY LISTING DETAILS
Gina Acevedo
Remax Unlimited
BESbswy