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

888 Doud Monterey, CA 93940

3 Beds 3 Baths 2,200 sqft Built 1948

INVESTimate

$1,340,000

List Price

$3,810

$3,560 - $4,060

Rent Est.

$1,448,540  ( +8.10%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1948
  • Price/Sqft : $609.09
  • 9 Days on Market
  • MLS # : ML81806717
  • Updated Date : 08/19/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 3 full
Listing Agent

The Peninsula Group Real Estate

Listing Agent's Description

'An Absolute Find in Monterey. This 3 bedroom 3 bath is Reminiscent of Old Monterey with a contemporary nod and small bay view. The recently remodeled Cook's kitchen and dining room are a the heart of the home just like when Nana lived there. Situated on a large corner parcel with inviting lawn, patio and outdoor entertainment area. Located a short walk to the Monterey wharf, theaters, farmers market, schools and the kind of life worth living! Not to be missed!

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

Neighborhood: Monterey Vista

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $245k857k

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

Neighborhood: Monterey Vista

NeighborhoodNIR Market*CityMarket2015Year20132019 Q220002200240026002800300032003400Rent in $18063467

* 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
Monte Vista Elementary School Primary Regular 349 15 6
Walter Colton Middle School Middle Regular 724 35 2
Monterey High School High Regular 1,246 60 7

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 349
  • # of teachers: 15
6
GreatSchools Rating

Walter Colton Middle School

  • Education Level: Middle
  • # of students: 724
  • # of teachers: 35
2
GreatSchools Rating

Monterey High School

  • Education Level: High
  • # of students: 1,246
  • # of teachers: 60
7
GreatSchools Rating
 

$1,206,000$1,474,000$1,340,000

PURCHASE PRICE

$3,429$4,191$3,810

RENT

DOWN PAYMENT
FINANCING

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-$40k-$30k-$20k-$10k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,810
EXPENSES Loan Payment -$4,944
Property Tax -$1,250
Property Insurance -$79
Property Management Fees -$149
CASH FLOW
-$2,611

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$1,340,000

PROJECTED PRICE

$3,810

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 8.10%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$360,850

INVESTMENT

$360,850

Down Payment
$335,000
Rehab Estimate
$5,750
Closing Costs
$20,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,944

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $335,000
Loan Amount $1,005,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$70

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,810

    LIST RENT
  • $1.73

    LIST RENT PER SQFT
  • $4,004

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$3,650
1$3,6502$3,810
$3,810
RENT COMPS ANALYSIS
  • 888 Doud Monterey, 2
    • 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $3,810
    • $1.73
    •  
  • 492 Larkin St Monterey, 1
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1946 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1946
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.83
    •  
PROPERTY LISTING DETAILS
Cheryl Heyermann
The Peninsula Group Real Estate
BESbswy