Two-Unit Duplex with
New
For Sale
$1,050,000
619 Windham Street, Santa Cruz, CA 95062
Separate units include a two-bedroom layout with interior laundry and a one-bedroom, one-bath configuration.
Property Size1,223 SF
Price / SF$858.54
Days on Market7
Property Features for 619 Windham Street
General Information
Standard status
Active
Size
1,223 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$11,500
Building Details
Year Built
1959
Tenancy
Multi
Listing Agency:
Compass
(831) 239-3353
Listed By:
John Hickey · License #01346658
(831) 239-3353
Source:
Exitrealty
Added: Jul 31
Changed: Aug 2
Last Checked: Aug 6 at 5:28AM
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 separate residences with distinct layouts. One unit offers two bedrooms, one bathroom, and laundry inside the home; the second provides one bedroom and one bathroom. The property also includes a backyard and an outdoor area at the front, adding usable exterior space to the residential improvements.
Built in 1959, the duplex is located on Windham Street in Santa Cruz’s Seabright area. Its position on a side street provides a residential setting while keeping the property within the Seabright neighborhood. The differing unit sizes accommodate a range of household configurations within one multifamily property.
Built in 1959, the duplex is located on Windham Street in Santa Cruz’s Seabright area. Its position on a side street provides a residential setting while keeping the property within the Seabright neighborhood. The differing unit sizes accommodate a range of household configurations within one multifamily property.
Key Highlights
- Two‑unit duplex in Santa Cruz’s Seabright area
- 2‑bedroom, 1‑bath unit with interior laundry
- Separate 1‑bedroom, 1‑bath 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
$34,098
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
3.25%
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%
$681,960
$682.0K
Cap Rate 7%
$487,114
$487.1K
Cap Rate 9%
$378,867
$378.9K
Market Conditions
NOI Build-Up for 1,223 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
$49.9K $40.80/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$48.7K $39.83/SF
− OpEx
−$14.6K −$11.95/SF
NOI
$34.1K $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%
$681,960
Cap Rate 7%
$487,114
Cap Rate 9%
$378,867
Alternative Uses
Best Use
Multifamily LT 5
$487.1K
$426.2K – $568.3K
NOI $34,098 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$449.7K
$393.5K – $524.7K
NOI $31,480 @ 7.0% cap · market cap 3.00%
Theoretical Best
Retail
$699.3K
$611.9K – $815.9K
NOI $48,952 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,623
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 - Separate units include a two-bedroom layout with interior laundry and a one-bedroom, one-bath configuration.
Where is this duplex located?
The property is located at 619 Windham Street Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two‑unit duplex in Santa Cruz’s Seabright area; 2‑bedroom, 1‑bath unit with interior laundry; Separate 1‑bedroom, 1‑bath unit
