Duplex With Separate
For Sale
$950,000
564 Lilac Ave, Boulder Creek, CA 95006
Two residences feature updated interiors, private outdoor areas, and a detached garage on a mostly flat residential parcel.
Property Size1,511 SF
Price / SF$628.72
Days on Market1546
Property Features for 564 Lilac Ave
General Information
Standard status
Active
Size
1,511 SF
Property subtype
Residential Income
Listing Agency:
eXp Realty of California Inc
Listed By:
Shemeika K. Fox
(831) 588-2334
Source:
Exprealty
Added: Jun 28, 2022
Changed: Sep 13
Last Checked: Sep 20 at 10:49AM
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 eXp Realty of California Inc
Investment Insights
Based on property information with market context.
This duplex property includes a 929-square-foot, two-bedroom, two-bathroom main house and a separate 582-square-foot, single-level cottage with one bedroom, one bathroom, and an additional bonus room. The main residence features an updated kitchen with quartz countertops and stainless steel appliances, hardwood floors, a dining room, oversized windows, and 9-foot ceilings. A wraparound deck provides outdoor dining or relaxation space with redwood forest views. The cottage has its own driveway and gated yard, creating distinct outdoor areas for each residence.
Both homes sit on a mostly flat, just under half-acre lot. The property also includes a detached one-car garage that can serve as a workshop or artist space. Parcel #082-107-02, measuring 3,964 square feet, is included in the sale. The property is located at 564 Lilac Avenue in Boulder Creek, California.
Both homes sit on a mostly flat, just under half-acre lot. The property also includes a detached one-car garage that can serve as a workshop or artist space. Parcel #082-107-02, measuring 3,964 square feet, is included in the sale. The property is located at 564 Lilac Avenue in Boulder Creek, California.
Key Highlights
- 929‑square‑foot main house with 2 bedrooms and 2 full bathrooms
- 582‑square‑foot single‑level cottage with 1 bedroom, 1 bathroom, and bonus room
- Updated kitchen with quartz countertops and stainless steel appliances
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
$42,127
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
4.43%
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%
$842,540
$842.5K
Cap Rate 7%
$601,814
$601.8K
Cap Rate 9%
$468,078
$468.1K
Market Conditions
NOI Build-Up for 1,511 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
$61.6K $40.80/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$60.2K $39.83/SF
− OpEx
−$18.1K −$11.95/SF
NOI
$42.1K $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%
$842,540
Cap Rate 7%
$601,814
Cap Rate 9%
$468,078
Alternative Uses
Best Use
Multifamily LT 5
$601.8K
$526.6K – $702.1K
NOI $42,127 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$555.6K
$486.2K – $648.2K
NOI $38,893 @ 7.0% cap · market cap 4.09%
Theoretical Best
Retail
$864.0K
$756.0K – $1.01M
NOI $60,479 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 95006, CA
9,454
Population
3,855
Households
2.5
Avg Household Size
47
Median Age
39%
College-Educated
94%
High-School Grad
55.2 sq mi
ZIP Area
171
Density / Sq Mi
$128,483
Median Household Income
$58,859
Median Earnings
$1,985
Median Rent
$779,300
Median Home Value
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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 - Two residences feature updated interiors, private outdoor areas, and a detached garage on a mostly flat residential parcel.
Where is this duplex located?
The property is located at 564 Lilac Ave Boulder Creek, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 929‑square‑foot main house with 2 bedrooms and 2 full bathrooms; 582‑square‑foot single‑level cottage with 1 bedroom, 1 bathroom, and bonus room; Updated kitchen with quartz countertops and stainless steel appliances
