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PROPERTY INFO
FACTS
- Single Family
- Built In 1995
- Price/Sqft : $897.03
- 3 Days on Market
- MLS # : ML81823644
- Updated Date : 12/19/2020 at 19:48
CONSTRUCTION
- Beds : 3
- Floor Size : 2,224 sqft
- Baths : 2 full , 1 half
Listing Agent
Collins Coastal Realty
Listing Agent's Description
Seabright Yacht Harbor Gem rebuilt in 1995 (Thatcher & Thompson Architects) with Ocean View from 2nd story in one of Santa Cruz's favorite neighborhoods. Just a few blocks to Seabright Beach, Santa Cruz Yacht Club & Harbor, shops and restaurants. Holiday lights on the Christmas tree and fireplace glimmer through the Bay Windows on approach. Dining area beyond the foyer steps down to the welcoming living room. Top of the line stainless appliances in the kitchen and W/D in laundry room included. Elevator takes you upstairs to family room. Skylights, fireplace & Ocean View from Primary Suite, oversized tub w/jets in ensuite bath. Many homes in Seabright were built between 1885 and 1930. This home is one of the prettiest houses on the block. This property has been in this family since 1972. Good weather most of the year in the Santa Cruz "Banana Belt." Earliest occupancy 2-18-2021 ideally 3-18-2021. Seller hopes to close by 12-31-2020. Do not Disturb Occupant. Shown by Appointment ONLY.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Zip Code: 95062
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 95062
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,730 |
| EXPENSES | Loan Payment | -$7,361 |
| Property Tax | -$1,961 | |
| Property Insurance | -$84 | |
| Property Management Fees | -$184 | |
|
CASH FLOW
-$4,860
|
||
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.
$1,995,000
PROJECTED PRICE
$4,730
PROJECTED RENT
0.24%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$534,425
LOAN DETAILS
$7,361
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $498,750 |
| Loan Amount | $1,496,250 |
-0.25
YEARS SAVED
-$396
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
-
$4,648
COMP ESTIMATED VALUE -
$2.09
COMP AVG. RENT PER SQFT
Comps Range
-
314 Mott Ave Santa Cruz, CA 1
- 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 1930 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 1930
- Rent
- Rent Per SQFT
- $0
- $0.00
-
1412 King St Santa Cruz, CA 2
- 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 1939 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 1939
LEASED 03/04/20- Rent
- Rent Per SQFT
- $4,500
- $2.09
PROPERTY LISTING DETAILS
Collins Coastal Realty
