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401 Prospect Hts Santa Cruz, CA 95065

4 Beds 3 Baths 2,688 sqft Built 1997

$1,499,999

List Price

$4,600

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $558.04
  • 7 Days on Market
  • MLS # : ML81819599
  • Updated Date : 11/10/2020 at 12:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,688 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

Stunning 4 bedroom, 3 bath home in the beautiful banana belt area of Prospect Heights. High-end craftsman details inside and out. With just under a half an acre, the property backs up to the DeLaveaga Forest with a gate to walking and biking trails. Exterior features include gorgeous redwood decking both front and back, Hot springs hot tub, terraced landscaping, solar energy panels, peace gutters, RV parking with electrical, water, and sewer hook ups. Interior features include newer stainless steel appliances, coffered ceilings in formal dining room and living room, extra large master suite with spacious walk-in closet and pot bellied gas stove. Both bathrooms upstairs include antique clawfoot tubs. The oversized two car garage with room for workshop or toys. Close to DeLaveaga Elementary and Harbor High. Only ever owned by current owners!

SEE MORE

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: 95065

ZipNIR Market*CityMarket2010Year20002019350k400k450k500k550k600k650k700k750k800k850k900kPrice in $335k941k

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

Zip Code: 95065

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
De Laveaga Elementary School Primary Regular 650 28 5
Mission Hill Middle School Middle Regular 641 26 6
Harbor High School High Regular 1,032 42 8

De Laveaga Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 28
5
GreatSchools Rating

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
 

$1,349,999$1,649,999$1,499,999

PURCHASE PRICE

$4,140$5,060$4,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,600
EXPENSES Loan Payment -$5,534
Property Tax -$1,474
Property Insurance -$96
Property Management Fees -$179
CASH FLOW
-$2,684

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.

$1,499,999

PROJECTED PRICE

$4,600

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$403,250

INVESTMENT

$403,250

Down Payment
$375,000
Rehab Estimate
$5,750
Closing Costs
$22,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$5,534

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $375,000
Loan Amount $1,124,999
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$44

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
  • $5,013

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,5003$4,950
$4,950
RENT COMPS ANALYSIS
  • 401 Prospect Hts Santa Cruz, CA 1
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 1997
    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
    •  
  • 119 Clipper Cove Cv Santa Cruz, CA 3
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2005
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.06
    •  
PROPERTY LISTING DETAILS
Jeri Ann Skipper
Exp Realty Of California Inc.
BESbswy