NOT LISTED FOR SALE

514 Prescott Ave Monterey, CA 93940

New Monterey Neighborhood

Estimated Value: $1,181,428 - $1,408,000

3 Beds
2 Baths
1,590 Sq Ft
$822/Sq Ft Est. Value

Last Sold August 28, 2020

Last sale price $930,000 $585 Per Sq Ft

Est. 40% increase in value since last sale

Current estimated payment $8,018/month

8 Days on Market

About This Home

As of August 2020

This centrally located duplex is tucked into a quiet neighborhood just a few blocks away from Cannery Row. Set upon New Monterey with views of Monterey Bay, this property is a rare find and won't be on the market long. Unit B is a 1 bed 1 bath with laundry and off-street parking. Unit A is a 2 bed 1 bath with ocean views, a rooftop deck, and additional storage. Both units have private outdoor space and laundry in unit. Whether you want to walk down to the Lighthouse Avenue restaurants or take some family and friends to the world-renown Monterey Bay Aquarium, this property is a perfect find. Ideal for anyone looking for rental income or to live in one and rent the other. Matterport available at 514prescottave.com.

Last Agent to Sell the Property

C&C Real Estate Team

Better Homes And Gardens Real Estate By The Sea License #70010156 Listed on: 07/06/2020

Last Buyer's Agent

Jackie Purvis

Compass License #01985477

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,804

Year Built

  • 1956

Lot Details

  • 3,698

Parking

  • 1 Car Garage
  • 1 Carport Space

Home Design

  • Duplex
  • Raised Foundation
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,590 Sq Ft Home
  • 2-Story Property

Additional Features

  • 3,698 Sq Ft Lot
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $49,428
  • Month-to-Month Lease Term

Community Details

Overview

  • 1,590 Sq Ft Building

Building Details

  • 2 Leased Units
  • Insurance Expense $2,000
  • Maintenance Expense $832
  • Manager Expense $3,014
  • Operating Expense $11,146
  • Gross Income $47,945

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,804

Year Built

1956

Lot Details

0

Parking

1

Listing Details

  • Zoning: Duplex
  • Subclass: Duplex
  • Age: 64
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1590
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1956

Interior Features

  • Living Sq Ft: 1590
  • Stories: 2

Exterior Features

  • Foundation: Concrete Perimeter, Raised
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 1
  • Parking Spaces: 1
  • Garage Parking Features: Attached Garage, Carport
  • Carport Min: 1

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Monterey Peninsula Unified

Lot Info

  • Lot Acres: 0.0849
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 3700.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 3700.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 19.22
  • Number Of Leased: 2

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 2000
  • Expense Maintenance: 832
  • Expense Management: 3014
  • Expenses Total: 11146
  • Income Annual Gross: 47945.00
  • Income Annual Rental: 49428
  • Income Gross Scheduled: 49428
  • Income Includes: Rents
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 2
  • Operating Expenses Include: Insurance, Maintenance, Services - Sewer
  • Tenant Expenses: Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Water
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 6, 2020
Closed on
Aug 18, 2020
Sold by
Daugherty Kimberly Kelly
Bought by
Ogbonna Chinyere
Seller's Agent
C&C Real Estate Team
Better Homes And Gardens Real Estate By The Sea
Buyer's Agent
Jackie Purvis
Compass
List Price
$950,000
Sold Price
$930,000
Premium/Discount to List
-$20,000
-2.11%
Current Estimated Value
$1,306,357

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$376,357
Avg. Annual Appreciation
6.60%
Original Mortgage
$93,000
Outstanding Balance
$83,052
Interest Rate
3%
Mortgage Type
Unknown
Estimated Equity
$1,195,445

Purchase Details

Closed on
Nov 14, 2002
Sold by
Daugherty Kimberly Kelly
Bought by
Morganna Maccloud Trust

Purchase Details

Closed on
Jul 1, 1998
Sold by
Shake David K and Shake Linda S
Bought by
Daugherty Kimberly Kelly

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
7%

Purchase Details

Closed on
Mar 13, 1998
Sold by
Laylon Lynda
Bought by
Shake David K and Shake Linda S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$148,000
Interest Rate
5.35%

Purchase Details

Closed on
Oct 14, 1993
Sold by
Johnson Lynda Laylon
Bought by
Laylon Lynda

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$165,000
Interest Rate
6.8%
Source: Public Records

Range of Values:

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Average Value
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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
Ogbonna Chinyere $930,000 Old Republic Title Company
Morganna Maccloud Trust -- --
Daugherty Kimberly Kelly $325,000 Old Republic Title Company
Shake David K $185,000 Chicago Title Co
Laylon Lynda -- Chicago Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ogbonna Chinyere $93,000
Open Ogbonna Chinyere $743,500
Previous Owner Daugherty Kimbelry $490,300
Previous Owner Daugherty Kimberly Kelly $515,000
Previous Owner Daugherty Kimberly Kelly $100,000
Previous Owner Daugherty Kimberly Kelly $416,977
Previous Owner Daugherty Kimberly Kelly $60,000
Previous Owner Daugherty Kimberly Kelly $419,000
Previous Owner Daugherty Kimberly Kelly $65,128
Previous Owner Daugherty Kimberly Kelly $350,000
Previous Owner Daugherty Kimberly Kelly $304,000
Previous Owner Daugherty Kimberly Kelly $300,000
Previous Owner Shake David K $15,000
Previous Owner Shake David K $148,000
Previous Owner Laylon Lynda $165,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/28/2020 08/28/20 Sold $930,000 -2.1% $585 / Sq Ft
07/15/2020 07/15/20 Pending -- -- --
07/06/2020 07/06/20 For Sale $950,000 -- $597 / 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 $10,804 $1,006,659 $649,458 $357,201
2024 $10,804 $986,922 $636,724 $350,198
2023 $10,502 $967,572 $624,240 $343,332
2022 $10,356 $948,600 $612,000 $336,600
2021 $10,205 $930,000 $600,000 $330,000
2020 $5,067 $465,865 $215,012 $250,853
2019 $5,313 $456,732 $210,797 $245,935
2018 $5,104 $447,777 $206,664 $241,113
2017 $4,730 $438,998 $202,612 $236,386
2016 $4,647 $430,391 $198,640 $231,751
2015 $4,581 $423,927 $195,657 $228,270
2014 $4,503 $415,624 $191,825 $223,799
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2020

    C&C Real Estate Team

    Better Homes And Gardens Real Estate By The Sea

  • J

    Buyer's Agent in 2020

    Jackie Purvis

    Compass

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Map

Source: MLSListings

MLS Number: ML81799660

MLSListings

APN: 001-083-011-000

California Monterey County Monterey 93940 New Monterey

514 Prescott Ave, Monterey, CA

This home is located at 514 Prescott Ave, Monterey, CA 93940 since 06 July 2020 and is currently estimated at $1,306,357, approximately $821 per square foot. This property was built in 1956. 514 Prescott Ave is a home located in Monterey County with nearby schools including Monte Vista Elementary School, Monte Vista Middle School, and Monterey High School.

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