Scotts Valley Duplex For
For Sale
$1,150,000
115 Christel Oaks Drive Scotts, Scotts Valley, CA 95066
Well-maintained duplex in desirable Scotts Valley location.
Property Size1,792 SF
Lot Size0.14 Acres
Price / SF$641.74
Days on Market182
Property Features for 115 Christel Oaks Drive Scotts
General Information
Standard status
Active
Size
1,792 SF
Lot size
0.14 Acres
Property subtype
Duplex
Amenities
Ceiling Fan
Central Forced Air
Individual Electric Meters, Individual Gas Meters, Flat
Building Details
Building Size
1,792 SF
Year Built
1969
Listing Agency:
Marcus & Millichap
(408) 314-3009
Listed By:
Fred Rubio · License #01984041
(408) 314-3009
Source:
Kw
Added: Feb 11
Changed: Aug 8
Last Checked: Aug 8 at 11:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap
Investment Insights
Based on property information with market context.
Located in Scotts Valley, this duplex offers an opportunity to own an income-producing property. Constructed in 1969, the property totals 1,792 square feet and includes two identical units. Each unit features 2 bedrooms and 1.5 bathrooms, with approximately 900 square feet of living space. The layouts and natural light provide a foundation for rental income and long-term value growth.
Key Highlights
- Income‑producing duplex in desirable Scotts Valley location.
- Two identical units, each with 2 bedrooms and 1.5 baths.
- Well‑maintained property with approximately 1,792 total square feet.
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
$49,961
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
4.34%
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%
$999,220
$999.2K
Cap Rate 7%
$713,729
$713.7K
Cap Rate 9%
$555,122
$555.1K
Market Conditions
NOI Build-Up for 1,792 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
$73.1K $40.80/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$71.4K $39.83/SF
− OpEx
−$21.4K −$11.95/SF
NOI
$50.0K $27.88/SF
Area
Santa Cruz County, CA
Vacancy
2.38%
Lease Rate
$40.80 /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%
$999,220
Cap Rate 7%
$713,729
Cap Rate 9%
$555,122
Alternative Uses
Best Use
Multifamily LT 5
$713.7K
$624.5K – $832.7K
NOI $49,961 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$658.9K
$576.6K – $768.8K
NOI $46,126 @ 7.0% cap · market cap 4.01%
Theoretical Best
Retail
$1.02M
$896.6K – $1.20M
NOI $71,727 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 95066, CA
15,483
Population
6,733
Households
2.3
Avg Household Size
45
Median Age
55%
College-Educated
96%
High-School Grad
18.7 sq mi
ZIP Area
828
Density / Sq Mi
$146,941
Median Household Income
$73,323
Median Earnings
$2,384
Median Rent
$1,113,000
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 - Well-maintained duplex in desirable Scotts Valley location.
Where is this duplex located?
The property is located at 115 Christel Oaks Drive Scotts Scotts Valley, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Income‑producing duplex in desirable Scotts Valley location.; Two identical units, each with **2 bedrooms and 1.5 baths.**; Well‑maintained property with approximately 1,792 total square feet.
