Sales AnalysisEstimated sale value: $1,275,265
Value range: $1,211,502 - $1,364,534
Change in the last 30 days: $27,555 Estimate accuracy +/- 5.61%
Rental Analysis Estimated rental rate: $4,250
Value range: $3,400 - $4,973
Rental rate change in the last 30 days: $501
Rent estimate accuracy +/- 15.82%
Property Type: SingleFamily
Year Built: 1929
Building Sq. Ft.: 1621
Lot Sq. Ft.: 9800
Tax Year: 2016
Tax Assessed Value: $1,068,965
Last Sale Date: 12/02/2003
Last Sale Value: $890,000
Valuation Notes:The above analysis is compiled with information gathered from Pacific Grove property tax records and public data. This property located at 938 Lighthouse Avenue Pacific Grove CA is estimated to have a sale value of $1,275,265 and could expect to lease for $4,250 per month in today's Pacific Grove real estate market.
Average Sale Value in Beach Tract/Fairway Homes: $
Assuming you paid cash, if you were to purchase this property at the current market value ($1,275,265) and rent it at the current estimated lease amount ($4,250), you would yield an expected1.29% CAP rate (Annual Net Income / Current Market Value).
Estimated Annual Expenses
Management fees at 8% = $4,080.00
+ Property Taxes at 1.3% = $16,578.45
+ Property Insurance = $1,200.00
+ Other variable expenses = $12,752.65
Total Annual Expenses = $34,611.10
Annual Rent Collected = $51,000.00
- Total Annual Expenses = $34,611.10
Net Income After Expenses = $16,388.91
CAP Rate Range:0.55% -
If you were to purchase this property using financing at today's interest rates, you would deduct your annual mortgage expense from the calculation above to find your Net Income After Expenses. Assuming an interest rate of 4.25% with a 20% Downpayment, your estimated mortgage expense would be $43,359.00 per year OR $3,613.00 per month. This would bring your Net Income after Expenses to -$26,970.11
Without knowing the current interior condition of this property nor the quality of craftsmanship, the automated sales valuation accuracy for this property is +/- 5.61% and the estimated rent valuation is +/- 15.82%. To receive a more accurate property valuation report for your home, request a FREE Brokers Price Opinion
from one of our Pacific Grove Real Estate experts.
Market Updates: The last time our valuation was updated for this property was on Thursday 08/17/2017.
This Automated Property Valuation Estimate and Investment Analysis was compiled using proprietary algorithm's and through utilization of the Zestimate.