Detached Triplex With
New
For Sale
$879,000
747 Rodriguez Street, Watsonville, CA 95076
Three single-story homes provide two bedrooms apiece and separate garage structures.
Property Size2,997 SF
Price / SF$293.29
Days on Market5
Property Features for 747 Rodriguez Street
General Information
Standard status
Active
Size
2,997 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,462
Building Details
Year Built
1919
Listing Agency:
Russell E. Gross Real Estate
(831) 464-4700
Listed By:
Russell Gross · License #00887251
(831) 464-4700
Source:
Exitrealty
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 1:09PM
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 Russell E. Gross Real Estate
Investment Insights
Based on property information with market context.
The property consists of three separate, single-level residences, with two bedrooms in each home. Detached garages accompany the residences. Built in 1919, the improvements comprise a small multifamily rental property rather than one attached structure. The offering includes 747, 747-A, and 753 Rodriguez Street in Watsonville, California. An adjacent property is also available for sale.
Key Highlights
- Three detached homes, each with two bedrooms
- Single‑level residential layout across all three homes
- Detached garages included with the property
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
$77,143
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
8.78%
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%
$1,542,860
$1.5M
Cap Rate 7%
$1,102,043
$1.1M
Cap Rate 9%
$857,144
$857.1K
Market Conditions
NOI Build-Up for 2,997 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
$143.9K $48.00/SF
− Vacancy
−$3.6K −$1.20/SF
EGI
$140.3K $46.80/SF
− OpEx
−$63.1K −$21.06/SF
NOI
$77.1K $25.74/SF
Area
Santa Cruz County, CA
Vacancy
2.50%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,542,860
Cap Rate 7%
$1,102,043
Cap Rate 9%
$857,144
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,557 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$1.10M
$964.3K – $1.29M
NOI $77,143 @ 7.0% cap · market cap 8.78%
Theoretical Best
Retail
$1.71M
$1.50M – $2.00M
NOI $119,958 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,638
Businesses Nearby
Explore this area
Business Placement
Demographics for 95076, CA
84,433
Population
26,488
Households
3.2
Avg Household Size
35
Median Age
19%
College-Educated
72%
High-School Grad
135.1 sq mi
ZIP Area
625
Density / Sq Mi
$86,685
Median Household Income
$36,077
Median Earnings
$1,851
Median Rent
$767,200
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?
Triplex - Three single-story homes provide two bedrooms apiece and separate garage structures.
Where is this triplex located?
The property is located at 747 Rodriguez Street Watsonville, CA.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Three detached homes, each with two bedrooms; Single‑level residential layout across all three homes; Detached garages included with the property
