Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

714 La Honda Ct Aptos, CA 95003

3 Beds 3 Baths 1,987 sqft Built 1996

INVESTimate

$1,350,000

List Price

$3,990

$3,740 - $4,240

Rent Est.

$1,477,440  ( +9.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $679.42
  • 6 Days on Market
  • MLS # : ML81806830
  • Updated Date : 08/21/2020 at 14:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,987 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to 714 La Honda Court Beach House! This beautiful 2 story home is located on a quiet private street up on the hill above Rio Del Mar. Fantastic ocean views with windows in each and every room, this home has it all! Beautiful front entryway with a garden full of flowers, vegetables and tropical plants are abundant. Comes with 3 spacious bedrooms and 2 full size bathrooms upstairs with walk-in closet, vaulted ceilings, and lots of sunlight. New waterproof oak flooring. Kitchen has new quartz countertops, maple cabinets, and new stainless steel appliances, Winebar refrigerator, and 3rd full size bathroom between kitchen and garage. After a hard day at work or playing at the beach head out on backyard deck and soak in your hot tub on a star filled night. Life is good! Home also features and over size 600' 2 car garage. Close to Seascape Golf Club & Resort, Rio Del Mar & Hidden Beach, with shopping and dining close by. Easy access to Hwy 1.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: 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
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$3,591$4,389$3,990

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,990
EXPENSES Loan Payment -$4,981
Property Tax -$1,352
Property Insurance -$78
Property Management Fees -$156
CASH FLOW
-$2,577

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.

$1,350,000

PROJECTED PRICE

$3,990

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.44%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$74

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,990

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $4,212

    COMP ESTIMATED VALUE
  • $2.12

    COMP AVG. RENT PER SQFT
Comps Range
$3,990
1$3,9902$4,0003$4,500
$4,500
RENT COMPS ANALYSIS
  • 714 La Honda Ct Aptos, 1
    • 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,990
    • $2.01
    •  
  • 156 Camino Pacifico Aptos, 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, 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
Ray Conti
Coldwell Banker Realty
BESbswy