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PROPERTY INFO
FACTS
- Single Family
- Built In 1948
- Price/Sqft : $534.13
- 7 Days on Market
- MLS # : ML81823228
- Updated Date : 12/14/2020 at 17:50
CONSTRUCTION
- Beds : 3
- Floor Size : 1,758 sqft
- Baths : 2 full
Listing Agent
David Lyng Real Estate
Listing Agent's Description
An investors dream just a few blocks to Rio Del Mar Beach and Golf! This single level home features an open floor plan with high ceilings, a cozy wood burning fireplace for winter evenings near the ocean, and an enclosed front yard that is perfect for entertaining. There is plenty of off street parking, a separate side patio, and many exotic fruit trees. Each bedroom has both inside and outside entrances. It is livable now but with a major remodel this can be your fabulous 1st or vacation home. The lot is sunny and level. There is no sign on the property.
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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: 95003
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 95003
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,960 |
| EXPENSES | Loan Payment | -$3,464 |
| Property Tax | -$940 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$154 | |
|
CASH FLOW
-$671
|
||
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.
$939,000
PROJECTED PRICE
$3,960
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.50% |
| Appreciation Year (1-5) | 9.4% |
| 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
$254,585
LOAN DETAILS
$3,464
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $234,750 |
| Loan Amount | $704,250 |
1.17
YEARS SAVED
$6,311
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
-
$4,026
COMP ESTIMATED VALUE -
$2.29
COMP AVG. RENT PER SQFT
Comps Range
-
325 Rio Del Mar Blvd Aptos, CA 1
- 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1948
- Rent
- Rent Per SQFT
- $0
- $0.00
-
116 San Benito Ave Aptos, CA 2
- 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1965
LEASED 07/15/20- Rent
- Rent Per SQFT
- $3,600
- $2.29
PROPERTY LISTING DETAILS
David Lyng Real Estate
