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353 Henry Cowell Dr
Santa Cruz, CA

353 Henry Cowell Dr

$2,300,000
5 bd • 3 ba • 3,444 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$2,300,000

Price/Sq.Ft

$668

Year Built

2005

AI Property Analysis

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

The Good

This custom home in the high-end gated community of Woods Cove offers exceptional value with its spacious 3,444 sqft layout, which is 43% larger than the Santa Cruz average of 2,400 sqft. Built in 2005, it's relatively new for the area, where the median home age is 1974. The property boasts high-end features like Viking and Bosch appliances, adding $15,000-$20,000 in value. Its location near equestrian facilities, beaches, and the prestigious Pasatiempo Golf Course enhances its appeal. The home's flood risk score of 1/10 is significantly better than the area average of 4/10, potentially saving $1,000-$1,500 annually on insurance. The property has appreciated 27.8% since its last sale in 2020, outperforming the Santa Cruz market average of 22% for the same period.

The Bad

At $667.83/sqft, the property is priced 12% above the Santa Cruz average of $595/sqft. The 146 days on market is concerning, as it's 121% longer than the area's average of 66 days, suggesting potential overpricing or unique challenges. The recent 4.2% price reduction indicates difficulty in attracting buyers. The estimated annual insurance cost of $8,280 is high, about 30% above the area average of $6,370. The moderate fire risk (4/10) and severe air quality risk (7/10) could be deterrents for some buyers and may impact future property value.

The Ugly

The total monthly ownership costs are extremely high at approximately $14,850 ($10,700 mortgage + $1,900 property tax + $690 insurance + $1,560 estimated maintenance). This requires a household income of at least $535,000 annually, based on a 33% debt-to-income ratio, which severely limits the pool of potential buyers. The severe air quality risk (7/10) with 13 bad air days per year could lead to health concerns and potentially impact outdoor enjoyment. The property's location in a high-end gated community likely comes with significant HOA fees, which are not disclosed but could easily add $500-$1,000 to monthly costs. The 6th bedroom converted from the garage may not be legally permitted as a bedroom, potentially causing issues with appraisals or future sales.

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-net-worth individuals or families with annual incomes exceeding $535,000. It's perfect for those seeking a luxurious, spacious home in a prestigious gated community. The layout and amenities cater to buyers who frequently entertain, with its gourmet kitchen, formal dining room, and large deck. It's well-suited for multi-generational families or those who need space for a home office, given the additional bedrooms and flexible spaces. The proximity to equestrian facilities makes it attractive to horse enthusiasts, while its location near beaches and golf courses appeals to active lifestyles and outdoor recreation lovers.

Not For

This property is not suitable for first-time homebuyers or those with household incomes below $535,000 due to the high monthly costs. It's impractical for investors seeking immediate rental income, as the potential rental income (estimated at $5,350/month for a 4+ bedroom home in Santa Cruz) falls far short of covering the monthly expenses. The home's size and cost make it unsuitable for singles or couples without children who don't need the extra space. Those with respiratory issues might want to avoid this property due to the severe air quality risk. Buyers looking for a low-maintenance or lock-and-leave property may find the large home and extensive grounds too demanding.
Demographics
Area Median Income

$93,839

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Risk Assessment

Climate Risks

airSEVERE

13 bad air quality days per year

fireMODERATE

Insurance: Recommended

heatMODERATE

7 extreme heat days per year

98th percentile: 83°F

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

The severe air quality risk (7/10) poses long-term health concerns and could impact outdoor lifestyle. The moderate fire risk (4/10) may lead to increasing insurance costs and potential evacuation orders. While flood risk is minimal, the proximity to the coast (Santa Cruz) means long-term sea-level rise could become a concern. The property's high price point makes it vulnerable to market downturns, potentially leading to longer selling times or price reductions in a softening market. The converted garage bedroom may not meet legal requirements, potentially causing issues with future sales or refinancing. The gated community likely has an HOA, which could impose special assessments or increasing fees, adding to the already high ownership costs. The high-end appliances and systems in the home, while currently an asset, will require expensive replacements as they age, potentially adding $30,000-$50,000 in costs over the next 5-10 years.
Insurance
Annual Cost

$8,280

$690 per month

Financials

Monthly Costs
Market Rent (5 bed)

$5,350

Get a detailed rental estimate on Zillow®
HOA Fee

$260

Price History

Property Taxes

$22,549
2024 Tax Assessment
1.4%from previous year
Assessed Value$1,929,964
Tax Rate1.17%

Location & Comparables

Subject Property
Comparable Sales
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Frequently Asked Questions

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