Score
0Santa Cruz, CA
2030 N Pacific Ave UNIT 123
959K
3 beds
2 baths
1,448 sqft
3 bd • 2 ba • 1,448 sf
This analysis was generated on 1/24/2025. 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
$959,000
Price/Sq.Ft
$662
Year Built
2008
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This luxury condo at 2030 N Pacific Ave UNIT 123 offers exceptional value in downtown Santa Cruz. At $662.29/sqft, it's priced competitively for its prime location and amenities. The 1,448 sqft layout is 21% larger than the average 2-bedroom condo in Santa Cruz (1,200 sqft). Built in 2008, it's relatively new for the area, where the median home age is 1974. The property boasts high-end finishes like cherry hardwood floors, granite counters, and an ADA-compliant shower. Its ground floor location with street access enhances accessibility and convenience. The condo complex offers resort-style amenities including a pool, spa, and fitness center. Two side-by-side parking spots in a gated garage add significant value, as parking is often a challenge in downtown Santa Cruz. The walk score is estimated at 95, reflecting its exceptional proximity to restaurants, entertainment, and the beach.
The Bad
The property's price of $959,000, while competitive for the area, still represents a significant investment that may be out of reach for many buyers. The HOA fees, which include sewer, are not specified but could be substantial given the amenities offered. The condo's ground floor location, while convenient, may raise security concerns for some buyers. The unit's exposure to street noise and foot traffic could be a drawback. With 3 bedrooms and 2 bathrooms, the layout may feel cramped for larger families or those accustomed to more spacious single-family homes. The property has appreciated 40% since its last sale in 2015, which is positive for current owners but may indicate limited potential for further short-term appreciation.
The Ugly
The property faces significant climate risks that could impact long-term value and livability. The flood risk is rated as MAJOR (6/10), with the property located in FEMA Zone A99. This necessitates critical flood insurance, which could be costly and may increase over time. The air quality risk is SEVERE (7/10) with 13 bad air days per year, which could affect residents' health and quality of life. While the fire risk is moderate (3/10), it's still a concern in California's changing climate. The total monthly ownership costs are high, estimated at $6,500+ ($4,000 mortgage + $1,000 estimated HOA + $288 insurance + $800 property tax + $500 maintenance). This requires an annual income of at least $260,000 based on a 30% debt-to-income ratio, excluding other debts.
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 ideal for high-income professionals or couples earning $260,000+ annually who prioritize a downtown lifestyle. It suits those who value walkability, amenities, and proximity to entertainment over space. Empty nesters downsizing from larger homes in the area will appreciate the luxury finishes and low-maintenance living. Investors could potentially earn $4,780/month in rent (based on local 3-bedroom rates), though the cap rate may be low due to high purchase price and ongoing costs. The ground floor unit with ADA features makes it suitable for buyers with mobility concerns or those planning to age in place.
Not For
This property is not suitable for large families needing more space or privacy. First-time homebuyers or those with incomes below $260,000 will likely find it unaffordable. Investors seeking high cash flow or significant appreciation potential may find better opportunities elsewhere. Those sensitive to urban noise or concerned about ground floor security should look for units on higher floors. Buyers uncomfortable with climate risks, particularly flooding and air quality issues, should consider properties in less vulnerable areas.
Demographics
Area Median Income
$93,839
Property History
Price History
Ownership Timeline
$685,000Cash Purchase
Jul 14, 2015Xchange Solutions IncPatti L Krieger
Grant Deed
Standard Sale (Purchase/Resales)
$685,000Cash Purchase
May 22, 2015Karuna AultXchange Solutions Inc
Grant Deed
Standard Sale (Purchase/Resales)
$537,000Financed
Apr 19, 2013Santa Cruz River Street LlcKaruna K Ault
Grant Deed
New Construction Residential Transactions
Property Taxes
$9,296
2024 Tax Assessment
1.2%from previous year
Assessed Value$807,125
Tax Rate1.15%
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
Elementary
5.0/10
AverageMiddle
6.0/10
GoodHigh
7.3/10
GoodFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$959,000
Price/sqft
$662
Layout
3 bd•2 ba
Days on market
16 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$1,462,000
34.4%
Your price is 34.4% below average
Median Price
$1,400,000
31.5%
Based on 6 recent sales
Price per Sq.Ft
$967
31.5%
Your price is 31.5% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 231 Union Street, Santa Cruz, CA 95060 | $1,360,000 | 1,613 | 3 | 2 | $84327.3% | 11/16/2024 |
| 2030 Pacific Avenue #113, Santa Cruz, CA 95060 | $942,000 | 1,448 | 3 | 2 | $6511.8% | 9/19/2024 |
| 241 Walnut Avenue, Santa Cruz, CA 95060 | $1,950,000 | 1,600 | 2 | 2 | $1,21984.0% | 10/24/2024 |
| 700 Escalona Drive, Santa Cruz, CA 95060 | $1,720,000 | 1,590 | 3 | 2 | $1,08263.3% | 10/4/2024 |
| 116 Clay Street, Santa Cruz, CA 95062 | $1,400,000 | 1,300 | 3 | 2 | $1,07762.6% | 8/13/2024 |
| 116 Clay Street, Santa Cruz, CA 95060 | $1,400,000 | 1,500 | N/A | N/A | $93340.9% | 10/25/2024 |
231 Union Street, Santa Cruz, CA 95060
Price: $1,360,000
Sq.Ft: 1,613
Beds/Baths: 3/2
$/Sq.Ft:
$84327.3%
Sale Date: 11/16/2024
2030 Pacific Avenue #113, Santa Cruz, CA 95060
Price: $942,000
Sq.Ft: 1,448
Beds/Baths: 3/2
$/Sq.Ft:
$6511.8%
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:
$1,21984.0%
Sale Date: 10/24/2024
700 Escalona Drive, Santa Cruz, CA 95060
Price: $1,720,000
Sq.Ft: 1,590
Beds/Baths: 3/2
$/Sq.Ft:
$1,08263.3%
Sale Date: 10/4/2024
116 Clay Street, Santa Cruz, CA 95062
Price: $1,400,000
Sq.Ft: 1,300
Beds/Baths: 3/2
$/Sq.Ft:
$1,07762.6%
Sale Date: 8/13/2024
116 Clay Street, Santa Cruz, CA 95060
Price: $1,400,000
Sq.Ft: 1,500
Beds/Baths: N/A/N/A
$/Sq.Ft:
$93340.9%
Sale Date: 10/25/2024
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