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8472 Empire Grade
Santa Cruz, CA

8472 Empire Grade

$1,169,000
2 bd • 1 ba • 1,436 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

$1,169,000

Price/Sq.Ft

$814

Year Built

1978

AI Property Analysis

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

The Good

This single-family home boasts a large lot size of 120,051 square feet, offering significant outdoor space and privacy. The property features a separate family room and an eat-in kitchen, providing ample living space. The location is in a rural setting, which appeals to buyers who prioritize privacy and nature. It includes a fireplace and ceiling fans. The property is in the Bonny Doon Union Elementary School District which has a 7/10 rating. The flood risk is minimal (1/10), and the wind risk is also minimal (1/10). The property is also located in a desirable area of Santa Cruz.

The Bad

The property, while offering a large lot, is only a 2-bedroom, 1-bathroom home, which may be limiting for some buyers. The lack of a garage is a significant drawback. The house is also older (built in 1978), which could mean potential maintenance issues. The single bathroom may be inadequate for some families. The vinyl/linoleum flooring, while practical, is not a high-end feature. The 1,436 sqft size, while not small, may be less than what some buyers require, especially given the $1,169,000 price tag. The commute to the middle and high schools is also quite far (8.4 and 8.7 miles respectively).

The Ugly

The 'Extreme' air quality risk (9/10) and 17 bad air days per year is a major concern. The 'Major' fire risk (5/10) is also a significant issue, leading to higher insurance premiums and potential property damage. The estimated annual insurance cost is $4,208.4/year, which is higher than typical, reflecting these risks. The property's age (1978) means that major systems like the roof, plumbing, and electrical may need replacement soon, incurring substantial costs. The lack of a garage is a major drawback. The high purchase price ($1,169,000) will lead to high mortgage payments, property taxes, and insurance premiums, resulting in a very high total 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 suited for buyers who value privacy and a large lot size, and who are comfortable with a rural setting. Given the high fire risk and air quality issues, it's ideal for buyers who are prepared for these challenges and have the resources to mitigate them. It could be a good fit for a small family or couple looking for a primary residence with a large yard. The property may also appeal to those seeking a second home or retreat, where the rural location is a desirable feature. Buyers should have a household income above $180,000 to comfortably manage the mortgage, property taxes, and high insurance costs.

Not For

This property is not suitable for buyers who are sensitive to air quality issues or who are uncomfortable with high fire risk. It's also not a good fit for buyers who require low maintenance properties or who prefer urban or suburban environments. The lack of a garage may be a significant drawback for some buyers. Given the high total costs of ownership, it's not suitable for buyers with lower income levels or those seeking a budget-friendly option. It's not well suited for families with school-aged children who need to be close to high-rated middle schools.
Demographics
Area Median Income

$93,839

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Risk Assessment

Climate Risks

airEXTREME

17 bad air quality days per year

fireMAJOR

Insurance: Required

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

heatMINIMAL

6 extreme heat days per year

98th percentile: 92°F

windMINIMAL

Insurance: Optional

Risk Analysis

The major risks associated with this property are the 'Major' fire risk (5/10), which will lead to high insurance premiums, and the 'Extreme' air quality risk (9/10), with 17 bad air days per year. The lack of a garage may also be a concern for some buyers. Additionally, the property's age (built in 1978) means that major systems may need to be replaced in the near future. The high property taxes and insurance costs, in addition to the mortgage, contribute to a high total cost of ownership. The rural location may also limit access to amenities and services.
Insurance
Annual Cost

$4,208

$351 per month

Financials

Monthly Costs

Price History

Property Taxes

$1,804
2024 Tax Assessment
2.6%from previous year
Assessed Value$103,100
Tax Rate1.75%

Location & Comparables

Subject Property
Comparable Sales
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Frequently Asked Questions

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