Duplex with Detached
New
For Sale
$1,279,000
7685-7695 Pine Tree, Salinas, CA 93907
Residential Income (2-4 units), Salinas, CA
Property Size2,302 SF
Lot Size0.50 Acres
Price / SF$555.60
Days on Market2
Property Features for 7685-7695 Pine Tree
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R
Bedrooms
6
Rooms
Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 6
Parking features
Garage - Detached
Subdivision
Prunedale, Elkhorn, Moss Landing
Standard status
Active
Size
2,302 SF
Lot size
0.50 Acres
Utilities
Heating system
Wall Furnace
Water source
Private
Amenities
private fenced backyards
detached garage
Building Details
Year built
1962
Number of units
2
Roof type
Composition
Listing Agency:
Compass
(831) 318-0150
Listed By:
Betty Stringer · License #02042438
(831) 801-0730
Added: Sep 1
Last Checked: Sep 2 at 1:06AM
MLS# ML82059303
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex includes two residential units, each approximately 1,151 SF with three bedrooms, two full bathrooms, and a bonus room with a closet. The former single-car garages have been converted into an additional bedroom and full bathroom for each unit. Both residences feature private fenced backyards, individual utility meters, and wall heaters. A detached garage provides separate storage or workspace.
The property occupies a usable 0.5-acre lot outside city limits and the Coastal Zone, with substantial front-area space for parking, storage, equipment, recreational vehicles, or animals. Two 1,500-gallon septic systems were recently pumped and inspected, and the property uses private water. Located in Prunedale near a stoplight, the property offers access to Highway 101 without being farther down San Miguel Canyon Road. R zoning and the duplex configuration support its residential income use.
The property occupies a usable 0.5-acre lot outside city limits and the Coastal Zone, with substantial front-area space for parking, storage, equipment, recreational vehicles, or animals. Two 1,500-gallon septic systems were recently pumped and inspected, and the property uses private water. Located in Prunedale near a stoplight, the property offers access to Highway 101 without being farther down San Miguel Canyon Road. R zoning and the duplex configuration support its residential income use.
Key Highlights
- Two‑unit duplex on a usable 0.5‑acre lot outside city limits and the Coastal Zone
- Each unit is approximately 1,151 SF with 3 bedrooms, 2 full bathrooms, and a bonus room
- Converted original garages add 1 bedroom and 1 full bathroom per unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,207
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$804,140
$804.1K
Cap Rate 7%
$574,386
$574.4K
Cap Rate 9%
$446,744
$446.7K
Market Conditions
NOI Build-Up for 2,302 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.8K $25.56/SF
− Vacancy
−$1.4K −$0.61/SF
EGI
$57.4K $24.95/SF
− OpEx
−$17.2K −$7.49/SF
NOI
$40.2K $17.47/SF
Area
Salinas, CA
Vacancy
2.38%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$804,140
Cap Rate 7%
$574,386
Cap Rate 9%
$446,744
Alternative Uses
Best Use
Multifamily LT 5
$574.4K
$502.6K – $670.1K
NOI $40,207 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$529.0K
$462.9K – $617.2K
NOI $37,033 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$724.9K
$634.3K – $845.7K
NOI $50,740 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
Business Placement
Demographics for 93907, CA
23,315
Population
7,659
Households
3
Avg Household Size
39
Median Age
22%
College-Educated
74%
High-School Grad
54.5 sq mi
ZIP Area
428
Density / Sq Mi
$103,268
Median Household Income
$38,199
Median Earnings
$2,122
Median Rent
$676,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer private fenced yards, bonus rooms, individual utility meters, and wall heating.
Where is this duplex located?
The property is located at 7685-7695 Pine Tree Salinas, CA.
What is the asking price?
The asking price for this property is $1,279,000.
What are key features of this property?
This property features: Two‑unit duplex on a usable 0.5‑acre lot outside city limits and the Coastal Zone; Each unit is approximately 1,151 SF with 3 bedrooms, 2 full bathrooms, and a bonus room; Converted original garages add 1 bedroom and 1 full bathroom per unit
