Property Overview:
740 Locust St is a single-family home in Santa Clara, CA, built in 1939. It features 2 bedrooms, 1.5 bathrooms, and 1,035 sq. ft. of living space. The home includes a parking garage, fireplace, cooling system, and a partial basement. The estimated home value is $1,197,000 (sold for $720,000 in 2017).
Neighborhood Highlights:
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Crime Rate:
- Personal crime risk: 6.8% (lower than state average of 11.8%).
- Property crime risk: 8.7% (lower than state average of 10.8%).
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Schools:
Nearby schools include Buchser Middle, Washington Open Elementary, and Wilson Alternative.- Average SAT score: 1155 (higher than state average of 975).
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Job Market:
- 65.1% white-collar jobs, 34.9% blue-collar jobs.
- Unemployment rate: 3.6% (lower than state average of 4.7%).
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Demographics:
- Community population: 35,657 (18% growth since 2000).
- 58% families with children.
- Largest age group: 25-34 years (18.2%); second largest: 35-44 years (14.77%).
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Natural Disaster Risk:
- Moderate flood risk, low tornado risk, high earthquake risk.
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Weather:
- Average temperature: 46.4°F (January), 80.6°F (July).
- Average rainfall: 15.0 inches/year.
- Average snowfall: 0.1 inches/year.
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Cost of Living:
- Median household income: $65,818.
- Average annual spending: $51,815.
Property Features:
- Spacious layout with separate dining area, large kitchen, and large living room with wood-burning fireplace.
- Partial basement for additional storage.
- Bonus area attached to the carport (to be removed for ADU construction).
- Approved plans and permits for a 2-bedroom ADU in the rear (where the carport is currently).
- Investment potential: Currently rented for $6,400/month (lease until July 2024).
- 2 blocks from Santa Clara University; centrally located in a highly desirable area.
Location Benefits:
- Excellent opportunity for both investment and owner-occupancy.
- Immediate ADU construction possible (permits and plans paid for).
- Close to Santa Clara University and local amenities.
- Family-friendly community with strong schools and low crime rates.