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4 Elena Pl Marina, CA 93933

4 Beds 3 Baths 1,840 sqft Built 2007

$729,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $396.20
  • 4 Days on Market
  • MLS # : ML81820887
  • Updated Date : 11/19/2020 at 22:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,840 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sotheby's Int'l Realty-pg

Listing Agent's Description

Welcome to this beautiful, well situated home on a quiet, private cul-de-sac in a cozy little development with cobblestone streets. It's very light and bright and the hardwood floors downstairs reflect the warmth of the inviting living room and fireplace. In the spacious kitchen, generous granite counter tops pair elegantly with the solid maple cabinets and newer stainless steel appliances. Upstairs discover the vaulted ceilings in the large, en suite master bedroom featuring a private balcony and a convenient walk-in closet. Custom tiles surround your own peaceful soaking tub and separate shower. This home has 4 bedrooms, 2.5 bathrooms and a finished 2-car garage! Plus it has a friendly front porch and a fenced in easy-care backyard. It is a nice stroll to the beach and just a short jaunt into town for shopping and dining. There is no HOA. Own this home with pride!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Downtown Marina

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $225k609k

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

Neighborhood: Downtown Marina

NeighborhoodNIR Market*CityMarket2015Year20132019 Q2190020002100220023002400250026002700Rent in $18062736

* 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
Marina Vista Elementary School Primary Regular 450 20 3
Los Arboles Middle School Middle Regular 620 31 2
Marina High School High Regular 559 31 6

Marina Vista Elementary School

  • Education Level: Primary
  • # of students: 450
  • # of teachers: 20
3
GreatSchools Rating

Los Arboles Middle School

  • Education Level: Middle
  • # of students: 620
  • # of teachers: 31
2
GreatSchools Rating

Marina High School

  • Education Level: High
  • # of students: 559
  • # of teachers: 31
6
GreatSchools Rating
 

$656,100$801,900$729,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,690
Property Tax -$692
Property Insurance -$70
Property Management Fees -$129
CASH FLOW
-$561

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$729,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$5,849

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,020

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $3,091

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$3,020
1$3,0202$3,100
$3,100
RENT COMPS ANALYSIS
  • 4 Elena Pl Marina, CA 1
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $1.64
    •  
  • 387 Redwood Heights Ct Marina, CA 2
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 1991
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.68
    •  
PROPERTY LISTING DETAILS
Piper Loomis
Sotheby's Int'l Realty-pg
BESbswy