Score
0Santa Cruz, CA
311 Ocean St
855K
2 beds
1 baths
1,148 sqft
2 bd • 1 ba • 1,148 sf
This analysis was generated on 2/21/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$855,000
Price/Sq.Ft
$745
Year Built
1908
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Income Potential: The property is currently configured as three separate units, offering the potential for rental income from multiple tenants. Based on the market rental rates for one-bedroom units in Santa Cruz ($2930/month), the property could generate a gross monthly income of $8790 or $105,480 annually.
• Proximity to Amenities: The property is located close to downtown Santa Cruz, beaches, transit, and UCSC, making it attractive to renters and buyers who value convenience and accessibility.
• Parking: The property includes parking, a valuable asset in the crowded Santa Cruz market. Each unit has one parking spot, and there is additional off-street parking available.
• Potential for Appreciation: Santa Cruz is a desirable location with a strong real estate market. The property has the potential to appreciate in value over time, particularly with renovations and improvements. The median income in the area is $93,839, indicating a relatively affluent community.
The Bad
• High Crime Rates: The property is located in an area with a safety score of 57/100, indicating average safety. The total crime rate (2866.0 per 100,000 residents) is higher than both state and national averages. While property crime is higher than average, burglary and motor vehicle theft are lower than the state average. The violent crime rate, particularly robbery, is significantly elevated, which may deter some buyers.
• High Price per Square Foot: At $744.77 per square foot, the property is more expensive than some other areas in Santa Cruz, though this is typical of the Santa Cruz market. This high price per square foot may make the property less attractive to budget-conscious buyers.
• School Ratings: The assigned elementary school (Gault Elementary School) has a rating of 4/10, which is below average. This may be a concern for buyers with young children who prioritize high-quality education.
• Limited Property Details: The property description lacks specific details about the property's features and condition. This makes it difficult for buyers to assess the property's value and potential.
The Ugly
• Severe Flood Risk: The property has a severe flood risk (8/10), as indicated by its location in FEMA Zone A99. This means that the property is located in a high-risk flood area and is subject to mandatory flood insurance. The estimated insurance cost is $3078/year, which may deter some buyers.
• Air Quality: The property has a severe air quality risk (7/10), with approximately 13 bad air days per year. This may be a concern for buyers with respiratory issues or those who are sensitive to air pollution.
• Age and Condition: The property was built in 1908, making it an older home that may require significant renovations and repairs. The property description mentions that it needs "some TLC," which suggests that it may not be in move-in ready condition. Potential buyers should be prepared for the costs and challenges of renovating an older home.
• Conversion from Original Design: The property was originally built as a 2-bedroom, 1-bath home but has been converted into three separate units. This conversion may not have been done to code, and there may be potential legal or structural issues that need to be addressed.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• Seasoned Real Estate Investors: The property's current configuration as three separate units, coupled with the availability of adjacent properties, presents a unique opportunity for portfolio expansion and increased rental income. Savvy investors can leverage the existing cash flow while exploring potential redevelopment or renovation options to maximize long-term returns.
• Buyers Comfortable with Managing Older Properties: The property's age (built in 1908) suggests a need for ongoing maintenance and potential upgrades. Buyers who are prepared for these responsibilities and associated costs may find this property a worthwhile investment.
• Buyers Seeking Proximity to Amenities: Its location near downtown, beaches, transit, and UCSC makes this property attractive to those who value convenience and accessibility to urban amenities.
• Buyers Looking for Value-Add Opportunities: With some TLC, this property has the potential to shine. Buyers with a vision for renovation and improvement can transform this property into a desirable rental or residential space.
Not For
• Risk-Averse Buyers: The property's severe flood risk (8/10) and the need for potential renovations may deter buyers seeking a low-risk investment.
• Buyers Requiring Immediate Move-In Condition: The property is advertised as needing TLC, indicating that it may not be suitable for buyers seeking a move-in ready home.
• Buyers with Limited Renovation Budgets: Given the age of the property (built in 1908), significant renovation costs may be required to bring it up to modern standards. Buyers with limited budgets may find this property financially challenging.
• Homeowners seeking top-rated schools: The assigned elementary school has a rating of 4/10, which may not meet the standards of buyers prioritizing high-quality education.
Demographics
Area Median Income
$93,839
Property History
Price History
Ownership Timeline
$2,975,000Financed
Nov 22, 2013Bei Scott Company LlcTc Ww Joven Llc
Grant Deed
Non-Residential Arm's Length Transactions
Property Taxes
$3,139
2024 Tax Assessment
1.1%from previous year
Assessed Value$236,760
Tax Rate1.33%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
Loading sunlight data...
Schools
Nearby school quality by education level
Middle
6.0/10
GoodFinancials
Monthly Costs
Market Rent (2 bed)
Get a detailed estimate on Zillow$3,860
Unlock Premium Features
Supercharge Your Property Analysis
Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.
Best for serious buyers
- Unlimited AI analysis
- Unlimited AI chat
- Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee
Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$855,000
Price/sqft
$745
Layout
2 bd•1 ba
Days on market
184 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$950,250
10.0%
Your price is 10.0% below average
Median Price
$915,000
6.6%
Based on 6 recent sales
Price per Sq.Ft
$817
8.8%
Your price is 8.8% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 125 Cedar Street, Santa Cruz, CA 95060 | $899,000 | 1,084 | 3 | 1 | $82911.4% | 9/23/2024 |
| 135 Tree Frog Lane, Santa Cruz, CA 95060 | $915,000 | 1,288 | 2 | 2 | $7104.6% | 1/7/2025 |
| 135 Tree Frog Lane, Santa Cruz, CA 95060 | $915,000 | 1,288 | 2 | 2 | $7104.6% | 1/7/2025 |
| 180 Dakota Avenue #C, Santa Cruz, CA 95060 | $755,000 | 1,045 | 3 | 2 | $7223.0% | 11/13/2024 |
| 180 Dakota Avenue #C, Santa Cruz, CA 95060 | $755,000 | 1,045 | 3 | 2 | $7223.0% | 11/12/2024 |
| 915 Delaware Avenue, Santa Cruz, CA 95060 | $1,462,500 | 1,211 | 3 | 2 | $1,20862.2% | 10/28/2024 |
125 Cedar Street, Santa Cruz, CA 95060
Price: $899,000
Sq.Ft: 1,084
Beds/Baths: 3/1
$/Sq.Ft:
$82911.4%
Sale Date: 9/23/2024
135 Tree Frog Lane, Santa Cruz, CA 95060
Price: $915,000
Sq.Ft: 1,288
Beds/Baths: 2/2
$/Sq.Ft:
$7104.6%
Sale Date: 1/7/2025
135 Tree Frog Lane, Santa Cruz, CA 95060
Price: $915,000
Sq.Ft: 1,288
Beds/Baths: 2/2
$/Sq.Ft:
$7104.6%
Sale Date: 1/7/2025
180 Dakota Avenue #C, Santa Cruz, CA 95060
Price: $755,000
Sq.Ft: 1,045
Beds/Baths: 3/2
$/Sq.Ft:
$7223.0%
Sale Date: 11/13/2024
180 Dakota Avenue #C, Santa Cruz, CA 95060
Price: $755,000
Sq.Ft: 1,045
Beds/Baths: 3/2
$/Sq.Ft:
$7223.0%
Sale Date: 11/12/2024
915 Delaware Avenue, Santa Cruz, CA 95060
Price: $1,462,500
Sq.Ft: 1,211
Beds/Baths: 3/2
$/Sq.Ft:
$1,20862.2%
Sale Date: 10/28/2024
Frequently Asked Questions
Property Discussion
Start the Conversation
Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.
You
Analyze Any Property for Free
Get instant insights and potential savings on any Zillow listing.
Free Analysis
AI-Powered Insights
Instant Results
