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417 Frederick St Santa Cruz, CA 95062

3 Beds 1 Baths 1,087 sqft Built 1949

$879,500

List Price

$3,360

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $809.11
  • 5 Days on Market
  • MLS # : ML81822016
  • Updated Date : 12/04/2020 at 15:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,087 sqft
  • Baths : 1 full
Listing Agent

David Lyng Real Estate

Listing Agent's Description

Seabright!, in my opinion the best neighborhood in town. This home has not been on the market for 40 years and has been loved by the same resident for all that time. Very cozy home with wood stove in the living room, hard wood floors throughout, double pane windows, and very functional kitchen area. Property sits on a parcel plenty big enough for expansion if desired. Big back yard with several garden boxes, apple, lemon and avocado trees. Home has large patio on one side of the house with plenty of room for bar-b-ques and social gatherings (they will be back). The location can't be beat. Easily walkable to Seabright Beach, Yacht Harbor, Great Restaurants, Grocery Stores and excellent access to Highway 1 and 17. You are <1 minute walk to the Arana Gulch Greenbelt entry, with beautiful fields and trails. From there you can walk through the yacht harbor all the way to the beach without going on a public street. Very few homes come on the market in this neighborhood. See it soon!!

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

Zip Code: 95062

ZipNIR Market*CityMarket2010Year20002019350k400k450k500k550k600k650k700k750k800k850k900kPrice in $335k941k

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

Zip Code: 95062

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
Gault Elementary School Primary Regular 415 20 2
Mission Hill Middle School Middle Regular 641 26 6
Harbor High School High Regular 1,032 42 8

Gault Elementary School

  • Education Level: Primary
  • # of students: 415
  • # of teachers: 20
2
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
 

$791,550$967,450$879,500

PURCHASE PRICE

$3,024$3,696$3,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,360
EXPENSES Loan Payment -$3,245
Property Tax -$864
Property Insurance -$55
Property Management Fees -$131
CASH FLOW
-$936

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.

$879,500

PROJECTED PRICE

$3,360

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$238,818

INVESTMENT

$238,818

Down Payment
$219,875
Rehab Estimate
$5,750
Closing Costs
$13,193

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,245

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $219,875
Loan Amount $659,625
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$917

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
  • $3,462

    COMP ESTIMATED VALUE
  • $3.19

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8003$5,000
$5,000
RENT COMPS ANALYSIS
  • 417 Frederick St Santa Cruz, CA 1
    • 3 beds 1 baths ∙ 1,087 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,087 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 223 Caledonia St Santa Cruz, CA 2
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1933 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1933
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.75
    •  
  • 128 Carol Ave Santa Cruz, CA 3
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1951
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $3.62
    •  
PROPERTY LISTING DETAILS
Michael Glasgow
David Lyng Real Estate
BESbswy