1016 Rodeo Rd · Del Monte Forest, CA 93953

$1,075,000

4 bd · 3.5 ba · 2,610 sqft · SingleFamily public records · 70 Days on market

Built 1990 $412/sqft · 65% below area

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +9.4/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Appreciation +5.6/10.0
• Livability +3.4/5.0
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

New co-ownership opportunity by Pacaso: Own one-eighth of Rodeo, a professionally managed, turnkey home. With unobstructed ocean views, this 4-bedroom, 3.5-bath home on Monterey Peninsula Country Club is the ultimate Pacific Coast getaway. With warm wood floors, ceiling beams and custom shelving, the sunken living room is an oasis of calm with a sleek, modern fireplace and glass doors leading to the patio. Step up to an elegant dining room with ocean views and sliding doors to an outdoor dining table. The gourmet kitchen is as lovely as it is efficient, with stainless steel appliances, stone counters, a breakfast bar and a huge pantry. The spacious main-floor primary suite has doors to its own west-facing deck, an en suite bathroom with soaking tub, tiled shower and vanity with double sinks, and a large closet. Upstairs, three more bedrooms and two bathrooms provide plenty of space for family and friends, and a covered deck is the perfect place to relax before bed. Rodeo is within a five minute drive to world class golf at Pebble Beach, Spyglass, Poppy Hills and Spanish Bay. The home comes fully furnished and professionally decorated.

Key facts

• Elegant dining room
• Modern fireplace
• Sunken living room

Tags

• SUNKEN LIVING ROOM
• MODERN FIREPLACE
• ELEGANT DINING ROOM
• GOURMET KITCHEN
• STAINLESS STEEL APPLIANCES
• BREAKFAST BAR

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $1.07M.

Deal economics

• At list price, monthly cash flow is $-763 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $965k (10.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $844k (21.5% below list).
• Recommended offer: $844k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 0.4% in Del Monte Forest — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#278 in CA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities F, commute F, cost of living F.
• Pacific Grove Unified (suburban): math 65% / reading 78% proficiency, ranked #95 of 1,400 in CA (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 47 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 530 units permitted in Monterey County in 2024 (50 in 5+ unit buildings).
• At $8,438/mo this rent would consume 71% of the median local household income ($143k/yr) (locally 51% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $21k of equity ($7k loan paydown + $14k appreciation (1.3% local appreciation)).
• Monterey County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$76k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($1.01M) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $843,812 (21.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.04%
• DSCR: 0.86
• GRM: 10.6

CMA / ARV

• ARV (median comp): $3,308,624
• List price: $1,075,000
• Delta: -67.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3125 Bird Rock Rd	0.38mi	4/3.0	2,611 (0%)	5mo	$3,100,000	$1,187	76
999 Customs Rd	0.36mi	4/3.5	2,640 (+1%)	8mo	$3,000,000	$1,136	74
1030 Vaquero Rd	0.09mi	4/2.5	2,840 (+9%)	8mo	$2,600,000	$915	71
3071 Sloat Rd	0.59mi	3/4.0 (-1)	2,613 (+0%)	2mo	$1,850,000	$708	64
3141 Hacienda Dr	0.36mi	4/3.0	2,330 (-11%)	1mo	$2,885,000	$1,238	62
1029 Rodeo Rd	0.12mi	3/3.5 (-1)	2,965 (+14%)	6mo	$3,300,000	$1,113	62
1057 Broncho Rd	0.51mi	3/3.0 (-1)	2,799 (+7%)	1mo	$3,800,000	$1,358	56
1056 Indian Village Rd	0.50mi	3/2.5 (-1)	2,707 (+4%)	10mo	$4,525,000	$1,672	54
1105 Wildcat Canyon Rd	0.65mi	3/3.5 (-1)	2,876 (+10%)	0mo	$3,400,000	$1,182	48
3020 Sloat Rd	0.59mi	3/2.5 (-1)	2,259 (-13%)	6mo	$2,550,000	$1,129	36
3037 Strawberry Hill Rd	0.66mi	3/2.5 (-1)	2,931 (+12%)	8mo	$2,200,000	$751	33
1121 Circle Rd	0.69mi	3/2.5 (-1)	2,219 (-15%)	1mo	$2,500,000	$1,127	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.96×
• Total profit: $-12,756
• Equity at exit: $383,591

10-year hold

• IRR: 3.9%
• Equity multiple: 1.49×
• Total profit: $148,165
• Equity at exit: $522,851

Cash invested: $301,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 93953

• Home prices YoY: 0.5%
• Active inventory: 47
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $8,438 medium
• Mortgage (P&I): −$5,637
• Tax est. 1.5%: −$1,344 /mo · $16,125/yr
• Insurance: −$448
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,772
• Net cashflow: $-763

Break-even live

Break-even rent $9,404

Max offer price $964,597

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $268,750
• Closing costs: $32,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2869 17 Mile Dr Pebble Beach, CA	3.0	2.0	2080	$6,500	$3.12	13d	1	1.03mi
1154 Chaparral Rd Pebble Beach, CA	4.0	3.0	2318	$5,250	$2.26	43d	1	1.10mi
1043 Ortega Rd Pebble Beach, CA	3.0	2.0	1836	$5,195	$2.83	43d	1	1.17mi
1403 Cantera Ct Pebble Beach, CA	4.0	2.5	3113	$15,000	$4.82	13d	1	1.43mi

Listing history 40 events

1. 2026-06-02
   days on market $1,075,000 Active 70 DOM
2. 2026-06-01
   days on market $1,075,000 Active 69 DOM
3. 2026-05-31
   days on market $1,075,000 Active 68 DOM
4. 2026-05-30
   days on market $1,075,000 Active 67 DOM
5. 2026-03-24
   listed $1,075,000 Active 1152-char remark

   Show marketing remark (1152 chars)

   New co-ownership opportunity by Pacaso: Own one-eighth of Rodeo, a professionally managed, turnkey home. With unobstructed ocean views, this 4-bedroom, 3.5-bath home on Monterey Peninsula Country Club is the ultimate Pacific Coast getaway. With warm wood floors, ceiling beams and custom shelving, the sunken living room is an oasis of calm with a sleek, modern fireplace and glass doors leading to the patio. Step up to an elegant dining room with ocean views and sliding doors to an outdoor dining table. The gourmet kitchen is as lovely as it is efficient, with stainless steel appliances, stone counters, a breakfast bar and a huge pantry. The spacious main-floor primary suite has doors to its own west-facing deck, an en suite bathroom with soaking tub, tiled shower and vanity with double sinks, and a large closet. Upstairs, three more bedrooms and two bathrooms provide plenty of space for family and friends, and a covered deck is the perfect place to relax before bed. Rodeo is within a five minute drive to world class golf at Pebble Beach, Spyglass, Poppy Hills and Spanish Bay. The home comes fully furnished and professionally decorated.

6. 2025-12-03
   listed $1,100,000 Active
7. 2025-10-03
   status Pending
8. 2025-07-16
   price $1,150,000
9. 2025-05-09
   price $1,200,000
10. 2025-01-17
    listed $1,250,000 Active
11. 2024-08-12
    status Pending
12. 2024-07-09
    listed $1,099,000 Active
13. 2023-12-11
    listed $1,099,000 Active
14. 2023-08-29
    historical
15. 2023-05-25
    price $1,099,000
16. 2023-05-25
    listed $1,199,000 Active
17. 2022-10-19
    price $1,199,000
18. 2022-09-20
    listed $1,299,000 Active
19. 2022-07-29
    status Pending (Do Not Show)
20. 2022-07-29
    soldstatus $9,008,000 Sold
21. 2022-07-29
    soldstatus $9,008,000
22. 2022-02-03
    price $9,008,000
23. 2022-01-26
    listed $7,500,000 Active
24. 2022-01-26
    listed $9,008,000
25. 2022-01-25
    soldstatus $7,500,000
26. 2022-01-25
    soldstatus $7,500,000
27. 2022-01-25
    soldstatus $6,400,000
28. 2022-01-24
    listed $7,500,000
29. 2022-01-24
    listed $7,500,000
30. 2009-02-19
    historical
31. 2009-02-19
    soldstatus $3,200,000 Sold
32. 2009-02-09
    historical
33. 2008-11-17
    price $4,195,000
34. 2008-09-22
    listed $4,995,000
35. 2001-03-02
    historical
36. 2001-03-02
    soldstatus $2,605,000
37. 2001-02-15
    soldstatus $2,605,000
38. 2000-11-10
    listed $2,500,000
39. 1990-04-23
    soldstatus $1,100,000
40. 1979-10-08
    soldstatus $325,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥75°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $101,257
• − Mortgage interest: −$60,217
• − Property taxes: −$16,125
• − Insurance: −$5,375
• − Repairs & maintenance: −$8,101
• − Management: −$8,101
• − Depreciation: −$31,273
• Taxable loss: −$27,933
• Est. tax savings @ 24.0%: +$6,704
• After-tax cash flow: $-2,452/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pacific Grove Unified
• NCES district ID: 0629370
• Math proficiency: 65% ▼ -1.00%
• Reading proficiency: 78% ▲ 2.00%
• Median HH income: $77,560
• Composite: 64.35/100
• National rank: #1153
• State rank: #95 of 1400 in CA

Livability — Del Monte Forest

• Score: 68/100
• State rank: #278
• US rank: #9319

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing B- Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Del Monte Forest, CA
• County: Monterey County · 241,191 people
• City population: 3,613
• Metro: Salinas, CA
• Population (ZIP): 3,613
• Household income: $142,763
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 51.0

Population outlook (Monterey County) Hauer SSP2

• Today (2025): 458,436 people
• By 2030: 469,418 · +2.4%
• By 2040: 489,615 · +6.8%
• By 2050: 506,696 · +10.5%
• By 2075: 531,048 · +15.8%
• By 2100: 519,153 · +13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Asian 9% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Lithuanian 5% Romanian 5% Slovak 4%
• Foreign-born: 11% · South Korea, China, Canada
• Languages at home: 88% English-only · Korean 2% Arabic 2% Other Indo-European 2%

Political lean MEDSL · Monterey

• 2024 margin: Strong D (+29.9) · D 63.4% · R 33.5% · Other 3.0%
• 2008→2024 swing: -8.4pp toward R · 2008: 38.3pp · 2024: 29.9pp
• All cycles: 2024: D+29.9 2020: D+41.3 2016: D+39.7 2012: D+33.9 2008: D+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.30%
• Current HPI: 250.1488
• Rent YoY: —
• Metro: Salinas, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+230.8% since first listed

36 events — show timeline

• 2026-03-24 Listed $1,075,000 BAREIS
• 2025-12-03 Listed $1,100,000 BAREIS
• 2025-10-03 Pending — BAREIS
• 2025-07-16 Price Changed $1,150,000 BAREIS
• 2025-05-09 Price Changed $1,200,000 BAREIS
• 2025-01-17 Listed $1,250,000 BAREIS
• 2024-08-12 Pending — BAREIS
• 2024-07-09 Listed $1,099,000 BAREIS
• 2023-12-11 Listed $1,099,000 BAREIS
• 2023-08-29 Delisted — BAREIS
• 2023-05-25 Price Changed $1,099,000 BAREIS
• 2023-05-25 Listed $1,199,000 BAREIS
• 2022-10-19 Price Changed $1,199,000 BAREIS
• 2022-09-20 Listed $1,299,000 BAREIS
• 2022-07-29 Pending — MLSListings
• 2022-07-29 Sold (MLS) $9,008,000 San Francisco MLS
• 2022-07-29 Sold (MLS) $9,008,000 MLSListings
• 2022-02-03 Price Changed $9,008,000 MLSListings
• 2022-01-26 Listed $9,008,000 San Francisco MLS
• 2022-01-26 Listed $7,500,000 MLSListings
• 2022-01-25 Sold (Public Records) $6,400,000 Public Records
• 2022-01-25 Sold (MLS) $7,500,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2022-01-25 Sold (MLS) $7,500,000 MLSListings
• 2022-01-24 Listed $7,500,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2022-01-24 Listed $7,500,000 MLSListings
• 2009-02-19 Listing Removed — MLSListings
• 2009-02-19 Sold (MLS) $3,200,000 MLSListings
• 2009-02-09 Contingent — MLSListings
• 2008-11-17 Price Changed $4,195,000 MLSListings
• 2008-09-22 Listed $4,995,000 MLSListings
• 2001-03-02 Sold (Public Records) $2,605,000 Public Records
• 2001-03-02 Listing Removed — MLSListings
• 2001-02-15 Sold (MLS) $2,605,000 MLSListings
• 2000-11-10 Listed $2,500,000 MLSListings
• 1990-04-23 Sold (Public Records) $1,100,000 Public Records
• 1979-10-08 Sold (Public Records) $325,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $75,367 · +5.1% YoY. Source: county tax records.