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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 95003
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$317,125
LOAN DETAILS
$4,335
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $293,750 |
| Loan Amount | $881,250 |
-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
-
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
Sereno Group
