Duplex with Detached
New
For Sale
$2,295,000
235 Southwood DR, Scotts Valley, CA 95066
Residential Income (2-4 units), SCOTTS VALLEY, CA
Property Size3,158 SF
Lot Size2.09 Acres
Price / SF$726.73
Days on Market6
Property Features for 235 Southwood DR
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Rooms
Bedroom 1, Office, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
Parking
5
Parking features
Garage - Attached, Covered, Garage - Detached
Subdivision
Scotts Valley
Standard status
Active
Size
3,158 SF
Lot size
2.09 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1976
Roof type
Composition
Listing Agency:
Amber Grewer Real Estate
(831) 566-0021
Listed By:
Amber Grewer · License #01346361
(831) 566-0221
Added: Sep 22
Last Checked: Sep 27 at 12:06PM
MLS# ML82062226
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.
Set on 2.089 acres in Scotts Valley, this 3,158-square-foot duplex property includes a four-bedroom, 2.5-bathroom main residence and a detached one-bedroom ADU above a separate two-car garage. The primary home also has an attached two-car garage, providing two distinct garage structures on the property.
Interior features include vaulted ceilings, an open kitchen with granite countertops, a living room with fireplace, a dining area with wet bar, an office, a game room, and a primary suite with a flexible seating or office nook. Built in 1976, the property has forced-air heating, public water, and a composition roof. Lodato Park is just outside the back door, while Glenwood Preserve trails are nearby. Santa Cruz beaches are approximately 10 minutes away, with access toward Silicon Valley via Hwy 17.
Interior features include vaulted ceilings, an open kitchen with granite countertops, a living room with fireplace, a dining area with wet bar, an office, a game room, and a primary suite with a flexible seating or office nook. Built in 1976, the property has forced-air heating, public water, and a composition roof. Lodato Park is just outside the back door, while Glenwood Preserve trails are nearby. Santa Cruz beaches are approximately 10 minutes away, with access toward Silicon Valley via Hwy 17.
Key Highlights
- 2.089‑acre Scotts Valley property with 3,158 square feet of improvements
- Four‑bedroom, 2.5‑bathroom main residence
- Detached two‑car garage with one‑bedroom ADU above
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
$88,046
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
3.84%
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%
$1,760,920
$1.8M
Cap Rate 7%
$1,257,800
$1.3M
Cap Rate 9%
$978,289
$978.3K
Market Conditions
NOI Build-Up for 3,158 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
$128.8K $40.80/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$125.8K $39.83/SF
− OpEx
−$37.7K −$11.95/SF
NOI
$88.0K $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%
$1,760,920
Cap Rate 7%
$1,257,800
Cap Rate 9%
$978,289
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,046 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$1.16M
$1.02M – $1.35M
NOI $81,287 @ 7.0% cap · market cap 3.54%
Theoretical Best
Retail
$1.81M
$1.58M – $2.11M
NOI $126,402 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
384
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Scotts Valley property combines a four-bedroom main residence with a separate one-bedroom ADU and multiple garage spaces.
Where is this duplex located?
The property is located at 235 Southwood DR Scotts Valley, CA.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: 2.089‑acre Scotts Valley property with 3,158 square feet of improvements; Four‑bedroom, 2.5‑bathroom main residence; Detached two‑car garage with one‑bedroom ADU above
