Encanto
An investment opportunity: two side-by-side brand-new units, sold as a package. Each is a separate 2,048 square foot, three-bedroom, three-and-a-half-bath home — live in one and rent the other, or lease both.
At $488 a square foot, the package is priced well below the Watsonville single-family median of $738 a square foot. Every bedroom has its own private en-suite bathroom, and each unit includes an attached 465 square foot garage and 124 square feet of private outdoor space. As brand-new construction, both carry full builder warranties.
The community sits on eleven acres backing onto a scenic waterway and nature trail, with a sports court, fitness par course, bocce ball court, community garden, dog park, picnic areas with barbecue grills, a children’s playground and a bird-watching overlook deck. Solar is included on every home.
per month · one side, principal & interest
This is two side-by-side units sold as one package, so the payment above is for one side only. Live in one side on FHA at 4.99% with 3.5% down ($34,956), and finance the other conventionally at today’s 7.28% with 20% down ($199,750) — $234,706 down in total. That is $5,258 plus $5,467, or $10,725 a month for both sides, and a tenant is estimated to cover $5,500 of it, leaving $5,225 a month. With both sides at today’s 7.28% it would be $12,177, or $6,677 after rent. The rent estimate came independently from two local property management firms and is not guaranteed. Principal and interest only. Ask us to run the numbers on your own situation.
Neighborhood Loans · NMLS 198202
619.843.0627
adelgadillo@neighborhoodloans.com
Open house every Saturday & Sunday
511 Ohlone Parkway, Watsonville