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308 River St UNIT B23
Santa Cruz, CA

308 River St UNIT B23

$688,000
2 bd • 1 ba • 757 sf

This analysis was generated by artificial intelligence on 1/16/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$688,000

Price/Sq.Ft

$909

Year Built

1993

AI Property Analysis

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

The Good

This charming 2-bedroom penthouse condo offers a prime location with easy access to beaches, vibrant downtown Santa Cruz, and UC Santa Cruz. The property features modern updates like new laminate flooring and stainless steel appliances. The cozy fireplace adds warmth, while the private deck provides stunning views. Community amenities include a pool, BBQ areas, and access to the San Lorenzo River levee trail. This condo is ideal for busy professionals or those seeking a second home.

The Bad

The property has a relatively high HOA fee of $677 per month, which may impact affordability. Additionally, the lack of cooling systems might be a concern during warmer months. The square footage is modest at 757, which might not suit those looking for more space.

The Ugly

A significant concern is the property's location in a flood zone, with a severe flood risk score of 7. Flood insurance is recommended and possibly required, adding to the overall cost of ownership.

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 for young professionals, university staff, or second-home buyers who desire a low-maintenance lifestyle in a vibrant coastal city. It's ideal for those who appreciate modern amenities and community features.

Not For

This condo is not ideal for families seeking larger living spaces or those who prefer a standalone home with a private yard. Additionally, buyers who are sensitive to high HOA fees or flood-related risks may want to avoid this property.
Demographics
Area Median Income

$93,839

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Risk Assessment

Climate Risks

floodSEVERE

FEMA Zone: A99

Insurance: Required

airSEVERE

13 bad air quality days per year

fireMODERATE

Insurance: Recommended

heatMODERATE

7 extreme heat days per year

98th percentile: 81°F

windMINIMAL

Insurance: Optional

Risk Analysis

The condo is located in a severe flood risk zone (FEMA A99), requiring critical flood insurance. Santa Cruz has a moderate fire risk and occasional air quality issues. The market is competitive, with potential for price volatility. Buyers should also consider the high HOA fees and lack of cooling systems.
Insurance
Annual Cost

$2,477

$206 per month

Financials

Monthly Costs
Market Rent (2 bed)

$3,860

Get a detailed rental estimate on Zillow®
HOA Fee

$677

Price History

Property Taxes

$6,853
2024 Tax Assessment
1.2%from previous year
Assessed Value$582,624
Tax Rate1.18%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$728,000

5.8% above list price

Median Price

$730,000

Based on 3 recent sales

Price per Sq.Ft

$921

Comparable Properties

112 Ocean Street, Santa Cruz, CA 95060
Price: $855,000
Sq.Ft: 828
Beds/Baths: 2/1
$/Sq.Ft:
$1,03313.6%
Sale Date: 10/11/2024
2030 Pacific Avenue #325, Santa Cruz, CA 95060
Price: $730,000
Sq.Ft: 901
Beds/Baths: 2/1
$/Sq.Ft:
$81010.9%
Sale Date: 9/19/2024
605 Pacific Avenue #302, Santa Cruz, CA 95060
Price: $599,000
Sq.Ft: 650
Beds/Baths: 1/1
$/Sq.Ft:
$9221.4%
Sale Date: 7/25/2024

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