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202 Panetta Ave #12
Santa Cruz, CA

202 Panetta Ave #12

$1,150,000
1 bd • 3 ba • 1,310 sf

This analysis was generated by artificial intelligence on 1/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$1,150,000

Price/Sq.Ft

$878

Year Built

2021

AI Property Analysis

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

The Good

This modern, live/work condo built in 2021 features a unique 3-level layout with a ground-level commercial space, a second-floor living area with a modern kitchen, and a third-floor bedroom with a rooftop patio. The location is excellent, within walking distance of West Cliff Drive, Natural Bridges State Beach, and numerous restaurants and breweries. The unit has high ceilings, walk-in closet(s), a security gate, and modern appliances. The price of $877.86/sqft is competitive given the new construction and live/work zoning.

The Bad

The property's single bedroom configuration may not suit all buyers. The 1,310 sqft size is smaller than average for a multi-level townhome. While the property is new, the 3/10 rating for the nearby Bay View Elementary School may be a concern for families with young children. The property's listing history shows a recent price reduction, which could indicate a market slowdown or issues with the property itself. The estimated insurance costs are also high at $4,140 annually.

The Ugly

The property's exposure to natural hazards, including earthquakes and wildfires, poses a significant risk. The high estimated annual insurance cost of $4,140 reflects this risk and could potentially increase. The property's single-car garage and limited on-street parking is a constraint. The HOA fees are not listed, which could be an additional cost. The property's location in a popular tourist area could result in traffic and noise issues during peak season. The listing history shows a recent price drop, indicating potential challenges in the current market.

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 single professionals or couples seeking a modern, live/work space with a strong emphasis on location and lifestyle. The flexible commercial space on the ground floor is ideal for entrepreneurs, artists, or those running a small business from home. The proximity to the beach, downtown, and recreational activities will appeal to those who prioritize an active lifestyle and enjoy the Santa Cruz scene. The 3-level layout is perfect for those who don't require a large living space.

Not For

This property is not suitable for families needing multiple bedrooms or significant living space. The single bedroom and 1,310 sqft size will be limiting for larger households. Buyers seeking large yards or multiple parking spaces may be dissatisfied. Those looking for a traditional residential property in a quiet neighborhood may find the live/work zoning and proximity to commercial activity less appealing.
Demographics
Area Median Income

$93,839

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Risk Assessment

Risk Analysis

The property's location in Santa Cruz exposes it to several risks, including earthquakes, wildfires, and coastal erosion. The estimated insurance cost of $4,140 per year is high and may increase further. The property's single-car garage and limited on-street parking could also be an issue. The market is competitive, and there may be a risk of overpaying.
Insurance
Annual Cost

$4,140

$345 per month

Financials

Monthly Costs
Market Rent (1 bed)

$2,930

Get a detailed rental estimate on Zillow®
HOA Fee

$623

Price History

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$1,144,333

-0.5% below list price

Median Price

$1,375,000

Based on 6 recent sales

Price per Sq.Ft

$944

Comparable Properties

124 Grandview Terrace, Santa Cruz, CA 95060
Price: $1,375,000
Sq.Ft: 1,259
Beds/Baths: 2/3
$/Sq.Ft:
$1,09224.4%
Sale Date: 11/14/2024
149 Dufour Street, Santa Cruz, CA 95060
Price: $1,400,000
Sq.Ft: 1,365
Beds/Baths: 2/3
$/Sq.Ft:
$1,02616.8%
Sale Date: 8/29/2024
202 Panetta Avenue #13, Santa Cruz, CA 95060
Price: $1,175,000
Sq.Ft: 1,310
Beds/Baths: 1/3
$/Sq.Ft:
$8972.2%
Sale Date: 8/13/2024
2395 Delaware #108 Avenue #108, Santa Cruz, CA 95060
Price: $165,000
Sq.Ft: 1,344
Beds/Baths: 2/2
$/Sq.Ft:
$12386.0%
Sale Date: 10/26/2024
318 Walk Circle, Santa Cruz, CA 95060
Price: $1,251,000
Sq.Ft: 1,083
Beds/Baths: 2/2
$/Sq.Ft:
$1,15531.6%
Sale Date: 10/8/2024
201 John Street, Santa Cruz, CA 95060
Price: $1,500,000
Sq.Ft: 1,093
Beds/Baths: 2/2
$/Sq.Ft:
$1,37256.3%
Sale Date: 9/27/2024

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