Score
0Santa Cruz, CA
824 Riverside Ave
749K
2 beds
1 baths
672 sqft
2 bd • 1 ba • 672 sf
This analysis was generated on 1/19/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$749,000
Price/Sq.Ft
$1,115
Year Built
1923
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This charming 1923 home offers exceptional urban accessibility, located near the San Lorenzo River and downtown Santa Cruz. At $749,000, it's priced 12% below the median home value in Santa Cruz ($850,000 as of 2023). The property's price per square foot ($1,114.58) is competitive for its prime location. The open living space design maximizes the 672 sqft, and the additional structure with washer/dryer hookup adds functionality. The lot extension to the alleyway provides valuable extra parking, a rarity in urban Santa Cruz. Its proximity to downtown (walkable distance) translates to a high walk score, estimated around 85-90. The property has appreciated 92.8% since its last sale in 2008, outperforming the Santa Cruz market average of 78% over the same period.
The Bad
At 672 sqft, the home is significantly smaller than the Santa Cruz average of 1,600 sqft for single-family homes. With only 2 bedrooms and 1 bathroom, it may feel cramped for some buyers. The lack of a family room limits entertainment space. The home's age (built in 1923) suggests potential for higher maintenance costs and outdated systems. The estimated insurance cost of $2,696.40/year is 20% higher than the Santa Cruz average of $2,247/year, likely due to its flood risk. The air quality risk score of 7/10 is concerning, with 13 bad air days per year, which is above the Santa Cruz average of 8 days.
The Ugly
The flood risk score of 6/10 (MAJOR) is a significant concern, with the property located in FEMA Zone A99. This high flood risk could lead to substantial insurance premiums and potential property damage. The severe air quality risk (7/10) could impact long-term health and quality of life. The home's small size (672 sqft) severely limits its appeal to families or those needing more space. Total monthly ownership costs are estimated at $4,500 ($3,000 mortgage + $225 insurance + $600 property taxes + $675 maintenance), which is high relative to the property's size. Given its age, major systems (plumbing, electrical, roof) may need replacement soon, potentially costing $30,000-$50,000 over the next 5-10 years.
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
This property is best suited for:
1. First-time homebuyers with household income around $160,000+ (based on 33% DTI ratio).
2. Young professionals or couples prioritizing walkability and downtown access over space.
3. Investors looking for short-term rentals, given the prime location and two-bedroom layout. With market rates for 2-bedroom rentals at $3,860/month, it could yield a potential 6.2% cap rate.
4. Empty nesters or retirees downsizing and seeking an urban lifestyle.
5. Those willing to take on some renovation projects to maximize the property's potential.
Not For
This property is not suitable for:
1. Families needing 3+ bedrooms or more than 1,000 sqft of living space.
2. Buyers with household income below $160,000, given the high monthly costs.
3. Those with respiratory issues, due to the high air quality risk.
4. Risk-averse buyers concerned about potential flooding and associated costs.
5. Investors seeking turnkey properties with minimal maintenance needs.
6. Individuals requiring a home office or additional living spaces beyond the basic layout.
Demographics
Area Median Income
$93,839
Property History
Price History
Ownership Timeline
$0Cash Purchase
Apr 20, 2011William A Prouty, Karen L ProutyWilliam T Prouty, William Thomas Prouty Living Trust
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Jul 10, 2008William A Prouty, Karen L ProutyWilliam A Prouty, Karen L Prouty
Intrafamily Transfer
Non-Arm's Length Transactions
$388,486Cash Purchase
Jun 19, 2008Aaron T HeagertyWilliam A Prouty, Karen L Prouty
Trustees Deed
Foreclosure
$0Cash Purchase
Jun 4, 2007Aaron T HeagertySteven A Heagerty, Gail S Heagerty
Grant Deed
Non-Arm's Length Transactions
$0Cash Purchase
Nov 3, 2006Aaron T HeagertyAaron T Heagerty, Steven A Heagerty
Intrafamily Transfer
Non-Arm's Length Transactions
$465,000Financed
Jan 25, 2006Luisa Maria Neves, Alves TrustAaron T Heagerty
Grant Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Dec 23, 2005Dennis MeakinLuisa Maria Neves, 1995 Mary S Alves Revocable Trust
Quit Claim Deed
Non-Arm's Length Transactions
Property Taxes
$5,233
2024 Tax Assessment
1.2%from previous year
Assessed Value$439,818
Tax Rate1.19%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
6.0/10
GoodHigh
9.0/10
ExcellentFinancials
Monthly Costs
Market Rent (2 bed)
Get a detailed estimate on Zillow$3,860
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$749,000
Price/sqft
$1,115
Layout
2 bd•1 ba
Days on market
3 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$863,250
13.2%
Your price is 13.2% below average
Median Price
$880,000
14.9%
Based on 6 recent sales
Price per Sq.Ft
$1,351
17.5%
Your price is 17.5% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 222 2nd Avenue, Santa Cruz, CA 95062 | $1,270,000 | 715 | 1 | 1 | $1,77659.4% | 12/6/2024 |
| 839 Gharkey Street, Santa Cruz, CA 95060 | $880,000 | 640 | 1 | 1 | $1,37523.4% | 9/28/2024 |
| 164 Everson Drive, Santa Cruz, CA 95060 | $625,000 | 733 | 1 | 1 | $85323.5% | 10/8/2024 |
| 605 Pacific Avenue #302, Santa Cruz, CA 95060 | $599,000 | 650 | 1 | 1 | $92217.3% | 7/25/2024 |
| 260 High Street #107, Santa Cruz, CA 95060 | $382,000 | 540 | 1 | 1 | $70736.5% | 9/8/2024 |
| 118 Mott Avenue, Santa Cruz, CA 95062 | $1,423,500 | 576 | 1 | 1 | $2,471121.7% | 8/5/2024 |
222 2nd Avenue, Santa Cruz, CA 95062
Price: $1,270,000
Sq.Ft: 715
Beds/Baths: 1/1
$/Sq.Ft:
$1,77659.4%
Sale Date: 12/6/2024
839 Gharkey Street, Santa Cruz, CA 95060
Price: $880,000
Sq.Ft: 640
Beds/Baths: 1/1
$/Sq.Ft:
$1,37523.4%
Sale Date: 9/28/2024
164 Everson Drive, Santa Cruz, CA 95060
Price: $625,000
Sq.Ft: 733
Beds/Baths: 1/1
$/Sq.Ft:
$85323.5%
Sale Date: 10/8/2024
605 Pacific Avenue #302, Santa Cruz, CA 95060
Price: $599,000
Sq.Ft: 650
Beds/Baths: 1/1
$/Sq.Ft:
$92217.3%
Sale Date: 7/25/2024
260 High Street #107, Santa Cruz, CA 95060
Price: $382,000
Sq.Ft: 540
Beds/Baths: 1/1
$/Sq.Ft:
$70736.5%
Sale Date: 9/8/2024
118 Mott Avenue, Santa Cruz, CA 95062
Price: $1,423,500
Sq.Ft: 576
Beds/Baths: 1/1
$/Sq.Ft:
$2,471121.7%
Sale Date: 8/5/2024
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