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Valuation Results for 938 Lighthouse Avenue Pacific Grove, CA

As of today, Friday 05/25/2018 this property is estimated to have a value of:


Sales Analysis

Estimated sale value: $1,226,158
Value range: $1,164,850 - $1,299,727
Change in the last 30 days: $7,469
Estimate accuracy +/- 5.19%

Rental Analysis

Estimated rental rate: $4,116
Value range: $3,457 - $5,433
Rental rate change in the last 30 days: -$123
Rent estimate accuracy +/- 18.19%

Property Details

Property Type: SingleFamily
Bedrooms: 3
Bathrooms: 2.0
Year Built: 1929
Building Sq. Ft.: 1621
Lot Sq. Ft.: 9800
Tax Year: 2017
Tax Assessed Value: $1,090,343
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 $1,226,158 and could expect to lease for $4,116 per month in today's Pacific Grove real estate market.
Average Sale Value in Beach Tract/Fairway Homes: $
Investment Potential: Assuming you paid cash, if you were to purchase this property at the current market value ($1,226,158) and rent it at the current estimated lease amount ($4,116), you would yield an expected 1.31% CAP rate (Annual Net Income / Current Market Value).
Estimated Annual Expenses
Management fees at 8% = $3,951.36
+ Property Taxes at 1.3% = $15,940.05
+ Property Insurance = $1,200.00
+ Other variable expenses = $12,261.58
Total Annual Expenses = $33,352.99
Annual Rent Collected = $49,392.00
- Total Annual Expenses = $33,352.99
Net Income After Expenses = $16,039.01
CAP Rate Range: 0.71% - 2.49%
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 $41,689.00 per year OR $3,474.00 per month. This would bring your Net Income after Expenses to -$25,650.37
Data Accuracy: Without knowing the current interior condition of this property nor the quality of craftsmanship, the automated sales valuation accuracy for this property is +/- 5.19% and the estimated rent valuation is +/- 18.19%. 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 Friday 05/25/2018.
This Automated Property Valuation Estimate and Investment Analysis was compiled using proprietary algorithm's and through utilization of the Zestimate.