488 Knight Templar · Paradise Park, CA 95060

$345,000

1 bd · 1.0 ba · 642 sqft · SingleFamily public records · 36 Days on market

Built 1933 2,570 sqft lot

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.2/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Requires ALL CASH to purchase. Buyer must be a Freemason or an Eastern Star member in good standing for one year prior to making an offer and applying to live in Paradise Park. Rustic 2 bedroom/2 bathroom cabin. New septic installed in March 2025. New fridge in 2025. New furnace installed in 2023. Wood burning insert with blower in living room. Pellet stove needs new motherboard estimated at $300. Water heater is about 5 years old. Spacious basement with lots of storage, laundry area & generator. Large deck for relaxing and entertaining. Covered carport. Community amenities: tennis courts, private riverside beaches, picnic areas, playgrounds, & a social hall for gatherings & events. Purchase price is for the improvements (house & carport) but not the land they are situated on. Buyer to submit $10,000 buy-in fee with park application to Paradise Park Masonic Club, Inc. The buy-in grants the right to occupy the land where the improvements are located and includes an ownership interest in the corporate entity that owns Paradise Park. Annual dues of approximately $6901.29 covers property taxes, annual park fees & water. Owner occupied or second home only-NO RENTALS ALLOWED! Next to the San Lorenzo River, w/ redwoods and hiking trails, & minutes to downtown Santa Cruz/Beaches.

Key facts

• Wood burning insert
• Large deck
• New septic installed

Tags

• NEW SEPTIC INSTALLED
• NEW FRIDGE
• NEW FURNACE INSTALLED
• WOOD BURNING INSERT
• SPACIOUS BASEMENT
• LARGE DECK

Property features AI

Finance

• Other: Zoning: R-1-6; Approximately 1,100 living area (reported); One-story complex context with 398 units in the community; Directions: Hwy 9 to Keystone to The Royal Arch to Sciots Lane to Knight Templar
• HOA & community: Community amenities include clubhouse, playground, garden/greenbelt/trails, organized activities, beach rights, barbecue areas, tennis court, indoor half basketball court, and other community features; Board approval required for restrictions; HOA rental restrictions; pets allowed

Exterior

• Parking: Covered parking (1 space); Off-street parking and on-street parking; no garage
• Utilities: Public water; Existing septic; Propane on site; Generator available; Public utilities
• Home design: Detached home; Single-story
• Construction: Wood construction; Shingle/composition roof; Concrete block and concrete perimeter and slab foundation; Built with public utilities
• Exterior features: Deck; Barbecue area

Interior

• Kitchen: Laminate countertops; Dishwasher; Exhaust fan
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl/Linoleum; Wood
• Bathrooms: 2 full bathrooms with tub and stall shower
• Heating & cooling: Central forced-air gas heating; Fireplace heating; Energy Star HVAC
• Interior features: High ceilings with open beam and vaulted ceiling; Cable TV available; Attic; Unfinished basement; Two fireplaces: wood-burning with insert and pellet stove
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $285k (17.5% below list).
• Recommended offer: $285k (17.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#109 in CA, #3,842 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: commute C-, crime D+, amenities F.
• Market conditions: Rents rising (+2.7%/yr); 98 active listings in the ZIP; solid renter incomes; 224 units permitted in Santa Cruz County in 2024 (25 in 5+ unit buildings).
• This rent runs 31% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Santa Cruz County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $284,580 (17.5% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.48%
• DSCR: 1.07
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.74% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-49,193
• Equity at exit: $51,441

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-36,584
• Equity at exit: $29,829

Cash invested: $96,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 95060

• Rents YoY: 2.7%
• Active inventory: 98
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,846 medium
• Mortgage (P&I): −$1,809
• Tax from tax record: −$176 /mo · $2,117/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $119

Break-even live

Break-even rent $2,695

Max offer price $345,000

Occupancy floor 91%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-02
   days on market $345,000 Active 36 DOM
2. 2026-06-01
   days on market $345,000 Active 35 DOM
3. 2026-05-31
   days on market $345,000 Active 34 DOM
4. 2026-05-30
   remarks 691-char remark
5. 2026-05-30
   days on market $345,000 Active 33 DOM
6. 2026-04-27
   listed $345,000 Active 1316-char remark

   Show marketing remark (1316 chars)

   Requires ALL CASH to purchase. Buyer must be a Freemason or an Eastern Star member in good standing for one year prior to making an offer and applying to live in Paradise Park. Rustic 2 bedroom/2 bathroom cabin. New septic installed in March 2025. New fridge in 2025. New furnace installed in 2023. Wood burning insert with blower in living room. Pellet stove needs new motherboard estimated at $300. Water heater is about 5 years old. Spacious basement with lots of storage, laundry area & generator. Large deck for relaxing and entertaining. Covered carport. Community amenities: tennis courts, private riverside beaches, picnic areas, playgrounds, & a social hall for gatherings & events. Purchase price is for the improvements (house & carport) but not the land they are situated on. Buyer to submit $10,000 buy-in fee with park application to Paradise Park Masonic Club, Inc. The buy-in grants the right to occupy the land where the improvements are located and includes an ownership interest in the corporate entity that owns Paradise Park. Annual dues of approximately $6901.29 covers property taxes, annual park fees & water. Owner occupied or second home only-NO RENTALS ALLOWED! Next to the San Lorenzo River, w/ redwoods and hiking trails, & minutes to downtown Santa Cruz/Beaches.

7. 2026-04-27
   listed $345,000 Active 1316-char remark

   Show marketing remark (1316 chars)

   Requires ALL CASH to purchase. Buyer must be a Freemason or an Eastern Star member in good standing for one year prior to making an offer and applying to live in Paradise Park. Rustic 2 bedroom/2 bathroom cabin. New septic installed in March 2025. New fridge in 2025. New furnace installed in 2023. Wood burning insert with blower in living room. Pellet stove needs new motherboard estimated at $300. Water heater is about 5 years old. Spacious basement with lots of storage, laundry area & generator. Large deck for relaxing and entertaining. Covered carport. Community amenities: tennis courts, private riverside beaches, picnic areas, playgrounds, & a social hall for gatherings & events. Purchase price is for the improvements (house & carport) but not the land they are situated on. Buyer to submit $10,000 buy-in fee with park application to Paradise Park Masonic Club, Inc. The buy-in grants the right to occupy the land where the improvements are located and includes an ownership interest in the corporate entity that owns Paradise Park. Annual dues of approximately $6901.29 covers property taxes, annual park fees & water. Owner occupied or second home only-NO RENTALS ALLOWED! Next to the San Lorenzo River, w/ redwoods and hiking trails, & minutes to downtown Santa Cruz/Beaches.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $2,117 · $176/mo
• Projected year-2 tax: $2,622 · $218/mo
• Expected delta: +$505/yr (+$42/mo · 23.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥83°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,150
• − Mortgage interest: −$19,325
• − Property taxes: −$2,117
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,732
• − Management: −$2,732
• − Depreciation: −$10,036
• Taxable loss: −$4,518
• Est. tax savings @ 24.0%: +$1,084
• After-tax cash flow: $2,510/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — Paradise Park

• Score: 75/100
• State rank: #109
• US rank: #3842

Category grades

Amenities F Commute C- Cost of living F Crime D+ Employment A+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paradise Park, CA
• County: Santa Cruz County · 225,113 people
• Metro: Santa Cruz-Watsonville, CA
• Population (ZIP): 46,268
• Household income: $108,591
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 2932.0

Population outlook (Santa Cruz County) Hauer SSP2

• Today (2025): 299,046 people
• By 2030: 311,246 · +4.1%
• By 2040: 332,813 · +11.3%
• By 2050: 352,797 · +18.0%
• By 2075: 406,837 · +36.0%
• By 2100: 435,763 · +45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 22% Two or more races 12% Asian 6% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 4% Romanian 3% Slovak 3%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 76% English-only · Spanish 15% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Santa Cruz

• 2024 margin: Solid D (+54.4) · D 75.3% · R 20.9% · Other 3.9%
• 2008→2024 swing: -3.2pp toward R · 2008: 57.7pp · 2024: 54.4pp
• All cycles: 2024: D+54.4 2020: D+60.3 2016: D+57.3 2012: D+54.1 2008: D+57.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1217.70%
• Current HPI: 300.9464
• Rent YoY: ▲ 2.74%
• Metro: Santa Cruz-Watsonville, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-04-27 Listed $345,000 MLSListings
• 2026-04-27 Listed $345,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+11.2%/yr

Latest (2025): $2,117 · +29.7% YoY. Source: county tax records.