NOT LISTED FOR SALE

406 Kenneth Ave Salinas, CA 93905

East Salinas Neighborhood

Estimated Value: $661,000 - $774,000

4 Beds
2 Baths
1,469 Sq Ft
$485/Sq Ft Est. Value

Last Sold September 27, 2024

Last sale price $665,000 $453 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $3,823/month

8 Days on Market

Highlights

  • Traditional Architecture
  • 1 Car Attached Garage
  • 1-Story Property
  • Circular Fireplace
  • Level Lot

About This Home

As of September 2024

Investment Potential! This duplex located in a area that duplexes don't go up for sale often. High rental demand area. Presents a promising project for those with a vision. The property is priced to reflect its current condition and offers significant upside potential through modernization. With the right improvements, it could become a valuable first time buyer home, rental property and/or a profitable resale. One of the LARGEST lots in the neighborhood, 7,400 sqft rectangle lot that is has alley access with only a neighbor on each side. Buyer to verify square footage and bedroom count of property. All information compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by interested parties. Per City of Salinas property has ADU possibilities with city plan approval/permit.

Last Agent to Sell the Property

Anthony Martinez

Jason Mitchell Real Estate License #01314023 Listed on: 08/23/2024

Jason Mitchell Real Estate

Last Buyer's Agent

Karla Dominguez Aguilar

J.Peter Realtors License #02226897

Property Details

Home Type

  • Multi-Family

Year Built

  • 1948

Lot Details

  • 7,401 Sq Ft Lot
  • Level Lot

Parking

  • 1 Car Attached Garage
  • On-Street Parking

Home Design

  • Duplex
  • Traditional Architecture
  • Pillar, Post or Pier Foundation
  • Wood Frame Construction
  • Shingle Roof
  • Composition Roof

Interior Spaces

  • 1,469 Sq Ft Home
  • 1-Story Property
  • Circular Fireplace
  • Crawl Space

Listing and Financial Details

  • Total Actual Rent $18,600

Community Details

Overview

Building Details

  • 1 Leased Unit
  • Insurance Expense $2,160
  • Operating Expense $10,160
  • Gross Income $18,600

Property Details

Home Type

Multi-Family

Year Built

1948

Lot Details

0

Parking

1

Listing Details

  • Zoning: Duplex
  • Subclass: Duplex
  • Style: Traditional
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1469
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1948

Interior Features

  • Living Sq Ft: 1469
  • Stories: 1
  • Security: Closed Circuit Monitoring (24-Hour)

Exterior Features

  • Foundation: Crawl Space, Post And Pier, Wood Frame
  • Roof: Composition, Shingle

Garage/Parking

  • Garage Spaces: 1
  • Parking Spaces: 4
  • Garage Parking Features: Attached Garage, On Street

Utilities

  • Sewer/Septic System: Sewer - Public

Schools

  • High School: 577

Lot Info

  • Lot Description: Grade - Level, Regular
  • Lot Acres: 0.1699
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 7400.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 7400.00

Rental Info

  • Existing Lease Term(s): Lease Agreement - Written, Month To Month, Security Deposit
  • Gross Rent Multiplier: 35.38
  • Number Of Leased: 1

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 2160
  • Expenses Total: 10160
  • Income Annual Gross: 18600.00
  • Income Annual Rental: 18600
  • Income Gross Scheduled: 18600
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Services - Sewer, Services - Trash Removal
  • Tenant Expenses: Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Water

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 23, 2024
Closed on
Sep 24, 2024
Sold by
Dyer Scott A and Dyer Terri L
Bought by
Govea Avilez Jhonny and Govea Cristina L
Seller's Agent
Anthony Martinez
Jason Mitchell Real Estate
Buyer's Agent
Karla Dominguez Aguilar
J.Peter Realtors
List Price
$658,000
Sold Price
$665,000
Premium/Discount to List
$7,000
1.06%
Views
40
Current Estimated Value
$713,045

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$48,045
Avg. Annual Appreciation
5.51%
Original Mortgage
$631,700
Outstanding Balance
$624,626
Interest Rate
6.49%
Mortgage Type
New Conventional
Estimated Equity
$88,419

Purchase Details

Closed on
Jul 29, 2005
Sold by
Holbrook Cliferd A and Holbrook Fusae
Bought by
Dyer Scott A and Dyer Terri L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$242,400
Interest Rate
5.46%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Oct 9, 2002
Sold by
Holbrook Cliferd A and Holbrook Fusae
Bought by
Holbrook Cliferd A and Holbrook Fusae
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Govea Avilez Jhonny $665,000 Old Republic Title
Dyer Scott A $255,500 --
Holbrook Cliferd A -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Govea Avilez Jhonny $631,700
Previous Owner Dyer Scott A $242,400
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/27/2024 09/27/24 Sold $665,000 +1.1% $453 / Sq Ft
08/31/2024 08/31/24 Pending -- -- --
08/23/2024 08/23/24 For Sale $658,000 -- $448 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

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 $1,126 $665,000 $330,000 $335,000
2024 $1,126 $665,000 $330,000 $335,000
2023 $1,106 $77,553 $24,799 $52,754
2022 $994 $76,033 $24,313 $51,720
2021 $994 $74,543 $23,837 $50,706
2020 $983 $73,780 $23,593 $50,187
2019 $1,010 $72,334 $23,131 $49,203
2018 $947 $70,917 $22,678 $48,239
2017 $982 $69,528 $22,234 $47,294
2016 $933 $68,166 $21,799 $46,367
2015 $925 $67,143 $21,472 $45,671
2014 $894 $65,829 $21,052 $44,777
Source: Public Records

Agents Affiliated with this Home

  • Anthony Martinez

    Seller's Agent in 2024

    Anthony Martinez

    Jason Mitchell Real Estate

    (650) 576-4487

    2 in this area

    64 Total Sales

    Anthony Martinez
    Section Image

  • K

    Buyer's Agent in 2024

    Karla Dominguez Aguilar

    J.Peter Realtors

See All Agents

Map

Source: MLSListings

MLS Number: ML81977874

MLSListings

APN: 004-274-016-000

California Monterey County Salinas 93905 East Salinas

406 Kenneth Ave, Salinas, CA

Not Listed for Sale

MultiFamily

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