Updated Duplex with Attached
New
For Sale
$1,399,000
2050 Halterman Avenue, Santa Cruz, CA 95062
Two units provide separate laundry, garage parking, and fenced outdoor areas.
Property Size1,920 SF
Price / SF$728.65
Days on Market7
Property Features for 2050 Halterman Avenue
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$10,749
Amenities
mature landscaping
private yards
separate laundry
fenced outdoor area
Building Details
Year Built
1970
Listing Agency:
Compass
(831) 428-2526
Listed By:
Charlie Lambert · License #02241273
(831) 428-2526
Source:
Exitrealty
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 31 at 3:52PM
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 Compass
Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1.5-bath units with approximately 1,920 square feet of combined living space. The property was built in 1970 and has been recently updated. Each residence includes separate laundry, an attached garage, and a private fenced yard, creating distinct living areas within the same building. Natural light and established landscaping, including multiple birch trees, add to the property’s physical appeal.
The property occupies a corner lot at 2050 Halterman Avenue in Santa Cruz. Chanticleer, Felt, and Jose County Parks are nearby, along with local shops, restaurants, and Santa Cruz beaches. The two-unit configuration supports owner-occupant, multigenerational, or investor use as described in the property information.
The property occupies a corner lot at 2050 Halterman Avenue in Santa Cruz. Chanticleer, Felt, and Jose County Parks are nearby, along with local shops, restaurants, and Santa Cruz beaches. The two-unit configuration supports owner-occupant, multigenerational, or investor use as described in the property information.
Key Highlights
- Two 2‑bedroom, 1.5‑bath units with approximately 1,920 square feet combined
- Recently updated duplex built in 1970
- Two attached garages with separate laundry for each 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
$53,530
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
3.83%
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%
$1,070,600
$1.1M
Cap Rate 7%
$764,714
$764.7K
Cap Rate 9%
$594,778
$594.8K
Market Conditions
NOI Build-Up for 1,920 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
$78.3K $40.80/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$76.5K $39.83/SF
− OpEx
−$22.9K −$11.95/SF
NOI
$53.5K $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%
$1,070,600
Cap Rate 7%
$764,714
Cap Rate 9%
$594,778
Alternative Uses
Best Use
Multifamily LT 5
$764.7K
$669.1K – $892.2K
NOI $53,530 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$706.0K
$617.8K – $823.7K
NOI $49,421 @ 7.0% cap · market cap 3.53%
Theoretical Best
Retail
$1.10M
$960.6K – $1.28M
NOI $76,850 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
Explore this area
Business Placement
Demographics for 95062, CA
36,268
Population
17,055
Households
2.1
Avg Household Size
43
Median Age
51%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
7,111
Density / Sq Mi
$108,261
Median Household Income
$54,059
Median Earnings
$2,291
Median Rent
$1,064,600
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 units provide separate laundry, garage parking, and fenced outdoor areas.
Where is this duplex located?
The property is located at 2050 Halterman Avenue Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1.5‑bath units with approximately 1,920 square feet combined; Recently updated duplex built in 1970; Two attached garages with separate laundry for each unit
