Seller's Agent in 2024
Sean Griffin
Agency One Real Estate
(831) 262-1955
7 in this area
45 Total Sales
2 Homestead Ave Salinas, CA 93901
South Salinas NeighborhoodEstimated Value: $625,000 - $675,384
2
Beds
2
Baths
820
Sq Ft
$794/Sq Ft
Est. Value
Highlights
- 0.36 Acre Lot
- Traditional Architecture
- 1-Story Property
About This Home
As of July 2024Bring your contractors and developers!! Great opportunity to own two detached single family homes on a large 15,700 sqft lot. Each home has 1 bedroom and 1 bathroom with a basement. Units have newer 30 year composition roofs, newer exterior paint and newer windows. Interior is older and needs updating. Rents are very low and could be closer to $1500 per unit if they are raised to fair market value. There are unfinished plans included with the sale to split the lots, demolish both units and build two new single family homes that are approx 1950 sqft each with attached garages. The units are currently on a septic system and would need to be connected to the sewer system in the street for any new development. Lot is zoned medium density residential 2.9 which could allow for up to 5-6 units. Buyer to verify all development potential directly with the city. One of the units is on a mudsill foundation which will require a cash buyer to purchase the property. Could be a 5% Cap rate if rents are raised to market value. Don't miss out on this rare opportunity!
Last Agent to Sell the Property
Agency One Real Estate License #01466508 Listed on: 06/19/2024
Last Buyer's Agent
Leonard Bustin
Realtor Limbo Paid License #00804201
Property Details
Home Type
- Multi-Family
Year Built
- 1929
Lot Details
- 15,699 Sq Ft Lot
Home Design
- Duplex
- Traditional Architecture
- Composition Roof
Interior Spaces
- 820 Sq Ft Home
- 1-Story Property
- Crawl Space
Parking
- 2 Parking Spaces
- On-Street Parking
- Off-Street Parking
Utilities
- Wall Furnace
- Septic Tank
Listing and Financial Details
- Total Actual Rent $21,600
Community Details
Overview
- 820 Sq Ft Building
Building Details
- 2 Leased Units
- Insurance Expense $1,000
- Maintenance Expense $1,000
- Operating Expense $7,950
- Gross Income $21,600
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 19, 2024
Closed on
Jul 11, 2024
Sold by
Bought by
Seller's Agent
Sean Griffin
Agency One Real Estate
Buyer's Agent
Leonard Bustin
Realtor Limbo Paid
List Price
$595,000
Sold Price
$670,000
Premium/Discount to List
$75,000
12.61%
Views
67
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$18,904
Avg. Annual Appreciation
-1.46%
Original Mortgage
$536,000
Interest Rate
6.95%
Mortgage Type
New Conventional
Purchase Details
Closed on
Aug 29, 2019
Sold by
Bought by
Purchase Details
Closed on
Dec 19, 2007
Sold by
Bought by
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $670,000 | Chicago Title | ||
| $350,000 | Chicago Title Company | ||
| -- | None Available |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $536,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/26/2024 07/26/24 | Sold | $670,000 | +12.6% | $817 / Sq Ft |
| 06/28/2024 06/28/24 | Pending | -- | -- | -- |
| 06/19/2024 06/19/24 | For Sale | $595,000 | -- | $726 / Sq Ft |
Source: MLSListings
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $5,546 | $670,000 | $390,000 | $280,000 |
| 2024 | $5,546 | $670,000 | $390,000 | $280,000 |
| 2023 | $5,360 | $462,517 | $315,353 | $147,164 |
| 2022 | $5,158 | $453,449 | $309,170 | $144,279 |
| 2021 | $4,955 | $444,558 | $303,108 | $141,450 |
| 2020 | $4,818 | $440,000 | $300,000 | $140,000 |
| 2019 | $2,473 | $219,850 | $92,569 | $127,281 |
| 2018 | $2,435 | $215,540 | $90,754 | $124,786 |
| 2017 | $2,438 | $211,315 | $88,975 | $122,340 |
| 2016 | $2,439 | $207,173 | $87,231 | $119,942 |
| 2015 | $2,465 | $204,062 | $85,921 | $118,141 |
| 2014 | $2,302 | $200,065 | $84,238 | $115,827 |
Source: Public Records
Agents Affiliated with this Home
-
Sean Griffin
-
L
Buyer's Agent in 2024
Leonard Bustin
Realtor Limbo Paid
Map
Source: MLSListings
MLS Number: ML81970239
APN: 002-131-001-000
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