Two-Unit Duplex with
New
For Sale
$959,000
174 Hope DR, Watsonville, CA 95076
Watsonville duplex with separate entrances, private outdoor areas, and individual utility metering for both residences.
Property Size2,366 SF
Days on Market5
Property Features for 174 Hope DR
General Information
Standard status
Active
Size
2,366 SF
Total Parking Spaces
4
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,064
Amenities
in-unit laundry
low-maintenance yards
Building Details
Building Size
2,366 SF
Year Built
1988
Listing Agency:
Epique Realty
Listed By:
Paul Locatelli · License #01348436
(831) 750-9795
Source:
Desantisrealty
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 22 at 8:51PM
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 Epique Realty
Investment Insights
Based on property information with market context.
Built in 1988, this Watsonville duplex contains two separate residences with open-plan interiors, bright living areas, and generously sized kitchens. Each unit has its own entrance, 2-car garage, laundry area, utility meters, and low-maintenance yard, supporting functional separation between the homes. Washer and dryer locations are provided in the garages.
The property is located in the Seaview Ranch neighborhood of Watsonville, California. Its two-home configuration and individually separated features accommodate a range of residential ownership and occupancy arrangements, including owner-occupancy, extended-family use, or rental operation.
The property is located in the Seaview Ranch neighborhood of Watsonville, California. Its two-home configuration and individually separated features accommodate a range of residential ownership and occupancy arrangements, including owner-occupancy, extended-family use, or rental operation.
Key Highlights
- Two‑unit duplex in Watsonville’s Seaview Ranch neighborhood
- Each residence includes a 2‑car garage and its own yard
- Separate entrances and utility meters for both units
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
$65,965
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
6.88%
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%
$1,319,300
$1.3M
Cap Rate 7%
$942,357
$942.4K
Cap Rate 9%
$732,944
$732.9K
Market Conditions
NOI Build-Up for 2,366 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
$96.5K $40.80/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$94.2K $39.83/SF
− OpEx
−$28.3K −$11.95/SF
NOI
$66.0K $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%
$1,319,300
Cap Rate 7%
$942,357
Cap Rate 9%
$732,944
Alternative Uses
Best Use
Multifamily LT 5
$942.4K
$824.6K – $1.10M
NOI $65,965 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$870.0K
$761.3K – $1.02M
NOI $60,901 @ 7.0% cap · market cap 6.35%
Theoretical Best
Retail
$1.35M
$1.18M – $1.58M
NOI $94,702 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
919
Businesses Nearby
Explore this area
Business Placement
Demographics for 95076, CA
84,433
Population
26,488
Households
3.2
Avg Household Size
35
Median Age
19%
College-Educated
72%
High-School Grad
135.1 sq mi
ZIP Area
625
Density / Sq Mi
$86,685
Median Household Income
$36,077
Median Earnings
$1,851
Median Rent
$767,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Watsonville duplex with separate entrances, private outdoor areas, and individual utility metering for both residences.
Where is this duplex located?
The property is located at 174 Hope DR Watsonville, CA.
What is the asking price?
The asking price for this property is $959,000.
What are key features of this property?
This property features: Two‑unit duplex in Watsonville’s Seaview Ranch neighborhood; Each residence includes a 2‑car garage and its own yard; Separate entrances and utility meters for both units
