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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 95073
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$454,925
LOAN DETAILS
$6,254
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $423,750 |
| Loan Amount | $1,271,250 |
-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
-
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
Strock Real Estate
