Remodeled Mobile Home in
For Sale
$519,000
146-225 Mount Hermon Rd, Scotts Valley, CA 95066
Updated residence with remodeled kitchen, private rear deck, and an attached oversized shed for storage or workshop use.
Property Size1,680 SF
Price / SF$308.93
Days on Market79
Property Features for 146-225 Mount Hermon Rd
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Manufactured In Park
Amenities
remodeled kitchen
picture windows
family room
office nook
rear deck
bamboo flooring
oversized shed
Listing Agency:
David Lyng Real Estate
(831) 429-5700
Listed By:
Diane Molnar
(831) 234-0315
Source:
Exprealty
Added: Jun 19
Changed: Aug 25
Last Checked: Sep 4 at 1:53PM
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 David Lyng Real Estate
Investment Insights
Based on property information with market context.
This updated mobile home offers a spacious, light-filled interior with picture windows in the living and dining rooms. The remodeled kitchen provides abundant cabinetry and generous counter space, and a comfortable family room includes a convenient office nook. A private rear deck connects to the family room, and bamboo flooring runs throughout the home. An oversized attached 9' x 10' shed adds significant storage or workshop flexibility.
Set within Spring Lakes, an age-restricted community with landscaped, park-like grounds, residents have access to a clubhouse, pool, and community activities.
The home is described as meticulously maintained and move-in ready, with features designed for both everyday living and entertaining.
Set within Spring Lakes, an age-restricted community with landscaped, park-like grounds, residents have access to a clubhouse, pool, and community activities.
The home is described as meticulously maintained and move-in ready, with features designed for both everyday living and entertaining.
Key Highlights
- Remodeled kitchen with abundant cabinetry and generous counter space
- Light‑filled living and dining rooms with expansive picture windows
- Family room with convenient office nook leading to a private rear deck
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
$43,243
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
8.33%
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%
$864,860
$864.9K
Cap Rate 7%
$617,757
$617.8K
Cap Rate 9%
$480,478
$480.5K
Market Conditions
NOI Build-Up for 1,680 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
$80.6K $48.00/SF
− Vacancy
−$2.0K −$1.20/SF
EGI
$78.6K $46.80/SF
− OpEx
−$35.4K −$21.06/SF
NOI
$43.2K $25.74/SF
Area
Santa Cruz County, CA
Vacancy
2.50%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
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%
$864,860
Cap Rate 7%
$617,757
Cap Rate 9%
$480,478
Alternative Uses
Best Use
Apartment 5plus
$617.8K
$540.5K – $720.7K
NOI $43,243 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$960.6K
$840.6K – $1.12M
NOI $67,244 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
808
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?
Mobile home & RV park - Updated residence with remodeled kitchen, private rear deck, and an attached oversized shed for storage or workshop use.
Where is this mobile home & rv park located?
The property is located at 146-225 Mount Hermon Rd Scotts Valley, CA.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Remodeled kitchen with abundant cabinetry and generous counter space; Light‑filled living and dining rooms with expansive picture windows; Family room with convenient office nook leading to a private rear deck
