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3820 Cherryvale Ave Soquel, CA 95073

3 Beds 3 Baths 2,732 sqft Built 1986

$1,695,000

List Price

$4,080

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $620.42
  • 5 Days on Market
  • MLS # : ML81821468
  • Updated Date : 11/25/2020 at 15:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,732 sqft
  • Baths : 3 full
Listing Agent

Strock Real Estate

Listing Agent's Description

Cherryvale Ave. has been one of the most coveted streets in Santa Cruz County. The rural feel of this cul de sac road is reminiscent of country living, yet it's mins. to Capitola beaches, schools, restaurants, & amenities in the heart of Soquel. This unique home was custom built by the owners & has been maintained w/ love. The high-quality materials, stunning finishes, and design speak for themselves. This home has an abundance of sunlight & beauty pouring in through the surrounding landscape, which allows for life at ease. A ground floor bedroom w/ a kitchenette can be a separate space for extended family or used as a rental. Views over Soquel, a built-in outdoor kitchen, & a large deck are all you need for entertaining guests. This home offers room to add a pool or bocce ball court, includes a newer roof & owned solar panels. RV parking plus a garage w/ a workshop provide storage for your toys & projects. 3820 Cherryvale Ave. has all you need and more, pack your bags...welcome home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 95073

ZipNIR Market*CityMarket2010Year20002019350k400k450k500k550k600k650k700k750k800k850k900kPrice in $335k918k

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

Zip Code: 95073

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
 

$1,525,500$1,864,500$1,695,000

PURCHASE PRICE

$3,672$4,488$4,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,080
EXPENSES Loan Payment -$6,254
Property Tax -$1,685
Property Insurance -$97
Property Management Fees -$159
CASH FLOW
-$4,115

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.

$1,695,000

PROJECTED PRICE

$4,080

PROJECTED RENT

0.24%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 8.2%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$70k-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$454,925

INVESTMENT

$454,925

Down Payment
$423,750
Rehab Estimate
$5,750
Closing Costs
$25,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$6,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $423,750
Loan Amount $1,271,250
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$339

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
  • $4,562

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,500
$4,500
RENT COMPS ANALYSIS
  • 3820 Cherryvale Ave Soquel, CA 1
    • 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3523 Deanes Ln Capitola, CA 2
    • 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1989
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.67
    •  
PROPERTY LISTING DETAILS
Benjamin Strock
Strock Real Estate
BESbswy