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115 Belvedere Ter
Santa Cruz, CA

115 Belvedere Ter

$1,349,000
2 bd • 2 ba • 1,336 sf

This analysis was generated by artificial intelligence on 1/30/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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List Price

$1,349,000

Price/Sq.Ft

$1010

Year Built

1955

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Desirable central location: The property's proximity to boutique shopping, popular restaurants, DeLaveaga Golf Course, and hiking trails makes it highly attractive to those seeking convenience and an active lifestyle. This is a highly desirable location. • Move-in ready condition: The property description highlights recent upgrades, including an EV garage plug-in, custom office built-ins, a new laundry room, master closet built-ins, hall bath updates, new dishwasher, disposal, front yard, and fencing. This suggests that the house is ready for immediate occupancy without requiring significant renovations. • Charming vintage features: The home's decorative recessed ceiling, arched entryways, wood-burning fireplace, and lush landscaping provide a unique aesthetic appeal. These features add to the property's charm and character. • Functional upgrades: The upgraded utility room with a pantry and hidden tankless water heater enhances the property's functionality. The detached office provides a separate space for remote work or creative projects. The steam shower is also a nice feature. • Peaceful setting: The property's location on a quiet, dead-end street offers a peaceful living environment, which is a desirable feature for many buyers. The backyard's jasmine archways, twinkle lighting, and bird sanctuary add to the serene atmosphere.

The Bad

• High price per square foot: At $1009.73 per square foot, the property is significantly more expensive than the national average. This may make it less appealing to budget-conscious buyers, even for Santa Cruz. • Older construction: Being built in 1955, the property may have older systems (plumbing, electrical, foundation) that could require future repairs or upgrades. This can lead to unexpected costs for the buyer. • Limited bedroom count: With only 2 bedrooms, the property may not be suitable for larger families or those who need extra space. This could limit the pool of potential buyers. • No explicit utility information: The listing does not provide details about utilities (gas, electric, water, sewer). This lack of information makes it difficult to estimate monthly costs and could hide potential issues. • Days on market: While not excessively long, 58 days on market exceeds the average for a competitive market such as Santa Cruz. This might indicate that the asking price is too high, or that there are issues with the property that potential buyers notice.

The Ugly

• Earthquake risk: Santa Cruz is located near several active fault lines, increasing the risk of earthquakes. This could result in significant property damage and require expensive earthquake insurance. • Coastal erosion and sea-level rise: Properties along the coast are vulnerable to coastal erosion and sea-level rise. While this property is not directly on the coast, it is still a consideration. • Wildfire risk: Wildfires are a growing concern in the surrounding hills and mountains. This could lead to increased insurance premiums and potential property damage. The property is not in a high-risk area, but this can still be a risk. • High competition and bidding wars: The Santa Cruz real estate market is highly competitive, with limited inventory. This can lead to intense bidding wars and offers well above the asking price. • Tourist impact and homelessness: The popularity of Santa Cruz as a tourist destination can lead to crowded beaches, traffic, and increased demand on resources. The city also faces challenges with homelessness, which may impact the neighborhood. • Potential for hidden issues: Older homes can have hidden issues such as foundation problems, mold, or outdated electrical and plumbing. These issues may require costly repairs or upgrades not immediately apparent during a typical showing.

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

• Buyers seeking a charming, move-in ready home in a desirable central location: The property's proximity to shopping, dining, and outdoor activities, coupled with recent upgrades, makes it ideal for those seeking convenience and a relaxed lifestyle. The detached office caters to remote workers or those needing a creative space. • Individuals appreciating vintage charm with modern amenities: The home blends original features like arched entryways and a wood-burning fireplace with modern updates such as a steam shower and upgraded appliances. • Those who prioritize low-maintenance outdoor spaces: The mature landscaping, spacious patio, and bird sanctuary provide a serene environment without requiring extensive upkeep. The new fencing adds privacy and security. • Buyers who value a quiet neighborhood: The home's location on a dead-end street offers a peaceful setting away from busy roads. This is beneficial for those seeking a tranquil living environment. • Potential renters or those looking for a short-term rental: The property's location and features could attract renters, potentially generating income.

Not For

• Buyers seeking a larger home: With 2 bedrooms and 1,336 sq ft, this property may not be suitable for larger families or those who desire more living space. • Individuals on a tight budget: The price per square foot ($1009.73) is significantly higher than the national average, and the overall price of $1,349,000 may be prohibitive for some buyers. • Buyers who prefer modern construction: While the home has been upgraded, it was built in 1955. Buyers seeking a newer home may not find this property appealing. • Those who are risk-averse to natural hazards: Santa Cruz is known for its risk of earthquakes, coastal erosion, wildfires, and tsunamis. Buyers concerned about these issues may prefer a different location. • Individuals who are not comfortable with the Santa Cruz lifestyle: The relaxed, outdoorsy culture may not be for everyone, and the city's tourist impact and homeless issues may be a concern for some.
Demographics
Area Median Income

$91,801

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Risk Assessment

Risk Analysis

• High cost of ownership: The property's price of $1,349,000 translates to a large mortgage, especially with current interest rates. Property taxes will also be high due to the purchase price. Homeowners insurance and ongoing maintenance costs can add to the overall financial burden. • Natural hazard risks: The property is located in an area with a high risk of earthquakes, coastal erosion, wildfires, and tsunamis. These risks could lead to property damage and increased insurance premiums. • Older home challenges: Built in 1955, the house may have older plumbing, electrical, and foundation systems that could require costly repairs or upgrades in the future. It will be important to do a very thorough inspection. • Market volatility: The Santa Cruz real estate market is highly competitive, which can lead to price fluctuations. A potential market downturn could impact the property's value. • Limited job market: Depending on the buyer's profession, finding suitable employment in Santa Cruz may be challenging, potentially impacting their financial stability. • Traffic congestion: The heavy traffic, especially during peak seasons and commute times, could make commuting to and from the property challenging. This should be considered when evaluating the location.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$1,515,333

12.3% above list price

Median Price

$1,600,000

Based on 6 recent sales

Price per Sq.Ft

$1,125

Comparable Properties

105 Allerton Street, Santa Cruz, CA 95065
Price: $1,850,000
Sq.Ft: 1,237
Beds/Baths: 3/2
$/Sq.Ft:
$1,49648.1%
Sale Date: 10/11/2024
2030 Pacific Avenue #113, Santa Cruz, CA 95060
Price: $942,000
Sq.Ft: 1,448
Beds/Baths: 3/2
$/Sq.Ft:
$65135.6%
Sale Date: 9/19/2024
241 Walnut Avenue, Santa Cruz, CA 95060
Price: $1,950,000
Sq.Ft: 1,600
Beds/Baths: 2/2
$/Sq.Ft:
$1,21920.7%
Sale Date: 10/24/2024
116 Clay Street, Santa Cruz, CA 95062
Price: $1,400,000
Sq.Ft: 1,300
Beds/Baths: 3/2
$/Sq.Ft:
$1,0776.7%
Sale Date: 8/13/2024
420 Parnell Street, Santa Cruz, CA 95062
Price: $1,600,000
Sq.Ft: 1,196
Beds/Baths: 3/2
$/Sq.Ft:
$1,33832.5%
Sale Date: 8/20/2024
206 Prospect Heights Avenue, Santa Cruz, CA 95065
Price: $1,350,000
Sq.Ft: 1,389
Beds/Baths: 2/1
$/Sq.Ft:
$9723.7%
Sale Date: 10/8/2024

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