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325 Rio Del Mar Blvd Aptos, CA 95003

3 Beds 2 Baths 1,758 sqft Built 1948

$939,000

List Price

$3,960

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 15, 2020 RECENTLY ADDED
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

ZipNIR Market*CityMarket2010Year20002019350k400k450k500k550k600k650k700k750k800k850k900k950kPrice in $335k959k

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

Zip Code: 95003

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
Rio Del Mar Elementary School Primary Regular 574 23 8
Rio Del Mar Elementary School Middle Regular 574 23 8
Aptos High School High Regular 1,417 54 8

Rio Del Mar Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 23
8
GreatSchools Rating

Rio Del Mar Elementary School

  • Education Level: Middle
  • # of students: 574
  • # of teachers: 23
8
GreatSchools Rating

Aptos High School

  • Education Level: High
  • # of students: 1,417
  • # of teachers: 54
8
GreatSchools Rating
 

$845,100$1,032,900$939,000

PURCHASE PRICE

$3,564$4,356$3,960

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$254,585

INVESTMENT

$254,585

Down Payment
$234,750
Rehab Estimate
$5,750
Closing Costs
$14,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,464

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $234,750
Loan Amount $704,250
See What Happens When You Reinvest Cash Flow

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
$0
1$02$3,600
$3,600
RENT COMPS ANALYSIS
  • 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
Allan Freiberg
David Lyng Real Estate
BESbswy