Updated Duplex with Separate
For Sale
$1,199,000
4399 Glenwood DR, Scotts Valley, CA 95066
Residential Income (2-4 units), Traditional, Scotts Valley, CA
Property Size1,930 SF
Lot Size0.40 Acres
Price / SF$621.24
Days on Market44
Property Features for 4399 Glenwood DR
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RA
Bedrooms
4
Rooms
Bedroom 1, Loft, Bedroom 2, Bedroom 4, Bedroom 3
Parking
5
Parking features
Covered, Off Street
Interior features
High Ceiling, Vaulted Ceiling, Walk-in Closet
Appliances
Dishwasher, Cooktop - Gas, Hood Over Range, Oven - Self Cleaning, Refrigerator, Oven - Gas
Lot features
Stream - Seasonal, Grade - Mostly Level
View
Forest, Hills, River
Subdivision
Scotts Valley North
Standard status
Active
Size
1,930 SF
Lot size
0.40 Acres
Utilities
Utilities
Propane
Heating system
Wall Furnace
Water source
Well
Building Details
Year built
1993
Number of units
2
Flooring type
Tile, Laminate, Carpet
Building materials
Wood Frame
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Miritz & Bailey Real Estate, Inc
(831) 588-4528
Listed By:
Lisa Dailey-goodrich · License #02155959
(831) 325-6320
Added: Jul 20
Changed: Aug 31
Last Checked: Sep 1 at 3:06AM
MLS# ML82054170
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.
This duplex property includes two updated residences totaling 1,930 square feet on 0.4 acres. The primary home provides 3 bedrooms and 2 bathrooms across approximately 1,400 square feet, with high and vaulted ceilings, a walk-in closet, laminate, tile and carpet flooring, and a wall furnace. A second residence contains 1 bedroom and 1 bathroom in approximately 530 square feet. Covered and off-street parking serve the property.
The homes are positioned near the border of Scotts Valley and Los Gatos, with access to Highway 17 and the surrounding Santa Cruz Mountains. Wooded views, open pasture areas and a seasonal creek contribute to the setting. The residences occupy separate parcels, each with its own septic system and dedicated PG&E meter, while sharing a private well and whole-house backup generator. The property is zoned RA and was built in 1993.
The homes are positioned near the border of Scotts Valley and Los Gatos, with access to Highway 17 and the surrounding Santa Cruz Mountains. Wooded views, open pasture areas and a seasonal creek contribute to the setting. The residences occupy separate parcels, each with its own septic system and dedicated PG&E meter, while sharing a private well and whole-house backup generator. The property is zoned RA and was built in 1993.
Key Highlights
- Two residences total 1,930 square feet on 0.4 acres
- Primary home offers 3BR/2BA and approximately 1,400 SF
- Second residence includes 1BR/1BA and approximately 530 SF
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
$53,809
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
4.49%
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%
$1,076,180
$1.1M
Cap Rate 7%
$768,700
$768.7K
Cap Rate 9%
$597,878
$597.9K
Market Conditions
NOI Build-Up for 1,930 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
$78.7K $40.80/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$76.9K $39.83/SF
− OpEx
−$23.1K −$11.95/SF
NOI
$53.8K $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%
$1,076,180
Cap Rate 7%
$768,700
Cap Rate 9%
$597,878
Alternative Uses
Best Use
Multifamily LT 5
$768.7K
$672.6K – $896.8K
NOI $53,809 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$709.7K
$621.0K – $828.0K
NOI $49,678 @ 7.0% cap · market cap 4.14%
Theoretical Best
Retail
$1.10M
$965.6K – $1.29M
NOI $77,250 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
13
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences offer flexible occupancy across a wooded Scotts Valley property with private access and practical utility separation.
Where is this duplex located?
The property is located at 4399 Glenwood DR Scotts Valley, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two residences total 1,930 square feet on 0.4 acres; Primary home offers 3BR/2BA and approximately 1,400 SF; Second residence includes 1BR/1BA and approximately 530 SF
