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414 Gay Rd Aptos, CA 95003

3 Beds 2 Baths 1,954 sqft Built 1970

$1,175,000

List Price

$3,840

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $601.33
  • 5 Days on Market
  • MLS # : ML81818148
  • Updated Date : 10/31/2020 at 08:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,954 sqft
  • Baths : 2 full
Listing Agent

Sereno Group

Listing Agent's Description

Hello & welcome to 414 Gay Rd. This wonderful home is nestled in the well established neighborhood of Rio Del Mar! Original owners & first time on the market! Sellers raised their children in this 3-Bedroom, 2-Bath home, plus office/Art Studio & Sunroom! Meticulously well kept with an open floor plan that leads to an Outdoor Deck where you can enjoy beautiful views & extend your Entertaining! Huge beautiful landscaped fenced backyard lined with mature tree ferns, lush lawn & flowering plants! Plenty of room for Veggie Garden, kids & pets! Lemon & lime trees in the front yard with parking pad. Short stroll to Hidden Beach & Playground. Steps to Seascape Golf Course. Walking distance to Deer Park Shopping Center with fine restaurants, drug store, grocery store with a butcher that remembers your name! Great Aptos schools. This property comes with welcoming neighbors like, community minded professionals, public service humanitarians, educators & talented artists! Look no further!

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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 6th best city for future job growth (Forbes, 2019)
  • 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)
  • 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: 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
 

$1,057,500$1,292,500$1,175,000

PURCHASE PRICE

$3,456$4,224$3,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,840
EXPENSES Loan Payment -$4,335
Property Tax -$1,177
Property Insurance -$77
Property Management Fees -$150
CASH FLOW
-$1,899

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.

$1,175,000

PROJECTED PRICE

$3,840

PROJECTED RENT

0.33%

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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$317,125

INVESTMENT

$317,125

Down Payment
$293,750
Rehab Estimate
$5,750
Closing Costs
$17,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,335

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $293,750
Loan Amount $881,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$7

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,840

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $4,142

    COMP ESTIMATED VALUE
  • $2.12

    COMP AVG. RENT PER SQFT
Comps Range
$3,840
1$3,8402$4,0003$4,500
$4,500
RENT COMPS ANALYSIS
  • 414 Gay Rd Aptos, CA 1
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $3,840
    • $1.97
    •  
  • 156 Camino Pacifico Aptos, CA 2
    • 4 beds 3 baths ∙ 1,810 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,810 Sqft ∙ Built 1988
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.21
    •  
  • 221 Via Trinita Aptos, CA 3
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1978
    LEASED 05/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.03
    •  
PROPERTY LISTING DETAILS
Marg Kiedrowski
Sereno Group
BESbswy