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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Apartment buildings
224 Watson St Monterey, CA 93940-7903
Individually Owned
1-yr Hold
Free & Clear
Property ID
US09-3106563
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1930
Construction
WOOD
Total area
660 SF
APN
001-375-049-000
UPID
US09-3106563
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$750k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$550k
Blend (final)
Blend
$750k
Owner & transaction history
Michael P Scanlon · 1 yrs held
Michael P Scanlon
since 2025
Last sale
$750,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Monterey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monterey submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$750,000
ML approach
$750,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $750k (Mar 20 2024)
Last sale anchor
$750k
Mar 20 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1,136 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,509
Tax year 2023
Assessed value
$568,140
Assessed 2023
Previous assessed
$568,140
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$238,740
Assessed improvement
$329,400
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1930
Construction
WOOD
Heating
ZONE
Buildings
4
Stories
1
Rooms
5
Bathrooms
1
Total area
660 SF
APN
001-375-049-000
UPID
US09-3106563
Jurisdiction
MONTEREY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1930
Construction
WOOD
Heating
ZONE
Stories
1
Buildings
4
Rooms
5
Bathrooms
1
Current owner
From public records · entity-resolved
Michael P Scanlon
Individual
Free & Clear · 1 yrs held
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2025
—
Michael P Scanlon
Paula Scanlon
Deed
related
—
Mar 20, 2024
—
Vincenzo Dorio
Vincenzo Dorio
Intrafamily Transfer
related
—
Oct 19, 2022
$750,000
Paula Scanlon
Anna Vermi
Grant Deed
$550,000 · Santa Cruz County Bank
Oct 19, 2022
—
Paula Scanlon
Michael Scanlon
Intrafamily Transfer
related
$550,000 · Santa Cruz County Bank
Mar 13, 2019
$300,000
Compagno,phyllis C Trust
Aliotti G & C F/tr
Grant Deed
—
Jul 2, 2014
—
Vermi Family Trust A
Vermi,anna
Quit Claim Deed
related
—
Apr 25, 2014
—
Anna Vermi
Spadaro Family Trust A
Quit Claim Deed
related
—
Dec 13, 2011
—
Aliotti G & C Family Trust
Aliotti,gaspare
Quit Claim Deed
related
—
May 25, 2011
—
Antoinette L Wraa
Dorio Mary J
Grant Deed
related
—
Sep 15, 2010
—
Carmela Spadaro
Spadaro,carmela
Quit Claim Deed
related
—
Feb 27, 2007
—
Phyllis Compagno
Aliotti,antonina
Affidavit Of Death
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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