20 Gonda St · Pajaro, CA 95076

$765,000

3 bd · 1.0 ba · 684 sqft · MultiFamily public records · 73 Days on market

Built 1926 5,227 sqft lot

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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 +6.5/10.0
• Rent growth +4.2/5.0
• 1% rule +2.7/10.0
• Livability +2.7/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Own a steady investment property in the heart of Pajaro on a quiet street. Your tenants will enjoy mature avocado trees, privacy, and gated yards with ample parking. The separate units include a 3bed/1bath home in front and the building plus garage/storage in the back. One unit is newer and shows nicely. The has been 0% Vacancy for many years. Don't miss this opportunity in a vibrant community where the soil is rich but your assets grow richer! Please do not disturb tenants.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1926

Property features AI

Finance

• Other: Living area reported as 1,645
• Financial info: Annual rental income approximately $52,800; Annual gross income approximately $52,800; Gross scheduled income approximately $52,800; Total annual expenses approximately $14,715; Gross rent multiplier about 14.94; Unit rents: one unit at $2,300/month, one unit at $2,100/month; Tenant responsible for miscellaneous/other, electric, heating and water

Exterior

• Parking: Off-street parking; 1-car garage; 6 parking spaces (total)
• Utilities: Public water; Public sewer; Natural gas; Primary electric meter; Primary gas meter; Primary water meter
• Home design: Individual ownership; Single-story buildings; Two buildings on the property; Two total units
• Construction: Concrete slab and raised foundation
• Exterior features: Composition roof; Zoning: HDR20

Interior

• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms
• Flooring: Tile
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $765k.

Deal economics

• At list price, monthly cash flow is $-666 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $647k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $588k (23.1% below list).
• Recommended offer: $588k (23.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 54/100 on livability (#907 in CA) — a working-class tenant base; expect higher turnover. Strengths: commute A+; Watch: employment D+, schools F, amenities F.
• Pajaro Valley Unified (urban): math 75% / reading 75% proficiency, ranked #43 of 517 in CA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 122 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 530 units permitted in Monterey County in 2024 (50 in 5+ unit buildings).
• At $5,881/mo this rent would consume 77% of the median local household income ($91k/yr) (locally 3051% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $23k of value loss. Plan a longer hold.
• Monterey County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($719k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $64k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $513k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $588,100 (23.1% 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 73 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.05%
• DSCR: 0.86
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.64% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.33×
• Total profit: $-143,973
• Equity at exit: $114,064

10-year hold

• IRR: -5.0%
• Equity multiple: 0.62×
• Total profit: $-80,846
• Equity at exit: $66,143

Cash invested: $214,200 (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 95076

• Rents YoY: 6.6%
• Active inventory: 122
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $5,881 medium
• Mortgage (P&I): −$4,012
• Tax from tax record: −$860 /mo · $10,315/yr
• Insurance: −$319
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,235
• Net cashflow: $-666

Break-even live

Break-even rent $6,724

Max offer price $647,289

Occupancy floor —

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$3,146
1× unit	2	1	$2,734
Total (2 units)			$5,881

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: $191,250
• Closing costs: $22,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
558 Main St Watsonville, CA	2.0	1.0–2.0	732	$3,650	$4.98	12d	14	0.86mi

Listing history 34 events

1. 2026-06-18
   days on market $765,000 Active 73 DOM
2. 2026-06-17
   days on market $765,000 Active 72 DOM
3. 2026-06-16
   days on market $765,000 Active 71 DOM
4. 2026-06-15
   days on market $765,000 Active 70 DOM
5. 2026-06-14
   days on market $765,000 Active 68 DOM
6. 2026-06-13
   days on market $765,000 Active 67 DOM
7. 2026-06-10
   days on market $765,000 Active 65 DOM
8. 2026-06-09
   days on market $765,000 Active 64 DOM
9. 2026-06-09
   price $765,000 Active 63 DOM
10. 2026-06-08
    days on market $789,000 Active 63 DOM
11. 2026-06-07
    days on market $789,000 Active 62 DOM
12. 2026-06-05
    days on market $789,000 Active 59 DOM
13. 2026-06-03
    days on market $789,000 Active 58 DOM
14. 2026-06-02
    days on market $789,000 Active 57 DOM
15. 2026-06-01
    days on market $789,000 Active 56 DOM
16. 2026-05-31
    days on market $789,000 Active 55 DOM
17. 2026-05-30
    days on market $789,000 Active 54 DOM
18. 2026-05-09
    price $789,000 479-char remark

    Show marketing remark (479 chars)

    Own a steady investment property in the heart of Pajaro on a quiet street. Your tenants will enjoy mature avocado trees, privacy, and gated yards with ample parking. The separate units include a 3bed/1bath home in front and the building plus garage/storage in the back. One unit is newer and shows nicely. The has been 0% Vacancy for many years. Don't miss this opportunity in a vibrant community where the soil is rich but your assets grow richer! Please do not disturb tenants.

19. 2026-05-09
    price $789,000 479-char remark

    Show marketing remark (479 chars)

    Own a steady investment property in the heart of Pajaro on a quiet street. Your tenants will enjoy mature avocado trees, privacy, and gated yards with ample parking. The separate units include a 3bed/1bath home in front and the building plus garage/storage in the back. One unit is newer and shows nicely. The has been 0% Vacancy for many years. Don't miss this opportunity in a vibrant community where the soil is rich but your assets grow richer! Please do not disturb tenants.

20. 2026-04-06
    listed $829,000 Active 479-char remark

    Show marketing remark (479 chars)

    Own a steady investment property in the heart of Pajaro on a quiet street. Your tenants will enjoy mature avocado trees, privacy, and gated yards with ample parking. The separate units include a 3bed/1bath home in front and the building plus garage/storage in the back. One unit is newer and shows nicely. The has been 0% Vacancy for many years. Don't miss this opportunity in a vibrant community where the soil is rich but your assets grow richer! Please do not disturb tenants.

21. 2026-04-06
    listed $829,000 Active 479-char remark

    Show marketing remark (479 chars)

    Own a steady investment property in the heart of Pajaro on a quiet street. Your tenants will enjoy mature avocado trees, privacy, and gated yards with ample parking. The separate units include a 3bed/1bath home in front and the building plus garage/storage in the back. One unit is newer and shows nicely. The has been 0% Vacancy for many years. Don't miss this opportunity in a vibrant community where the soil is rich but your assets grow richer! Please do not disturb tenants.

22. 2026-03-31
    historical
23. 2016-02-11
    historical
24. 2015-09-27
    historical
25. 2015-03-05
    listed $499,000
26. 2013-09-27
    listed $499,000
27. 2004-07-07
    soldstatus $513,000
28. 2004-07-07
    historical
29. 2004-06-30
    soldstatus $513,000
30. 2004-05-24
    soldstatus $513,000
31. 2004-02-19
    listed $510,000
32. 2004-02-19
    listed $510,000
33. 1997-07-18
    soldstatus $80,000
34. 1961-10-02
    soldstatus $5,000

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $10,315 · $860/mo
• Projected year-2 tax: $10,315 · $860/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AO · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,572
• − Mortgage interest: −$42,852
• − Property taxes: −$10,315
• − Insurance: −$5,292
• − Repairs & maintenance: −$5,646
• − Management: −$5,646
• − Depreciation: −$22,255
• Taxable loss: −$21,433
• Est. tax savings @ 24.0%: +$5,144
• After-tax cash flow: $-2,852/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: Pajaro Valley Unified
• NCES district ID: 0629490
• Math proficiency: 75% ▲ 52.00%
• Reading proficiency: 75% ▲ 42.00%
• Median HH income: $60,619
• Composite: 64.53/100
• National rank: #537
• State rank: #43 of 517 in CA

Livability — Pajaro

• Score: 54/100
• State rank: #907
• US rank: #24040

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pajaro, CA
• County: Santa Cruz County · 225,113 people
• Metro: Santa Cruz-Watsonville, CA
• Population (ZIP): 82,806
• Household income: $91,099
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 3051.0

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 Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% White 22% Two or more races 19% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 69%
• Common ancestry: Russian 2% Slovak 1% Italian 1%
• Foreign-born: 32% · Canada
• Languages at home: 35% English-only · Spanish 61% Other Indo-European 1% Arabic 1%

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: ▼ -883.52%
• Current HPI: 273.5604
• Rent YoY: ▲ 6.64%
• Metro: Santa Cruz-Watsonville, 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

+15680.0% since first listed

17 events — show timeline

• 2026-05-09 Price Changed $789,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-09 Price Changed $789,000 MLSListings
• 2026-04-06 Listed $829,000 MLSListings
• 2026-04-06 Listed $829,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-03-31 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2016-02-11 Listing Removed — SDMLS
• 2015-09-27 Listing Removed — SDMLS
• 2015-03-05 Listed $499,000 SDMLS
• 2013-09-27 Listed $499,000 SDMLS
• 2004-07-07 Listing Removed — MLSListings
• 2004-07-07 Sold (MLS) $513,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-06-30 Sold (Public Records) $513,000 Public Records
• 2004-05-24 Sold (MLS) $513,000 MLSListings
• 2004-02-19 Listed $510,000 MLSListings
• 2004-02-19 Listed $510,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1997-07-18 Sold (Public Records) $80,000 Public Records
• 1961-10-02 Sold (Public Records) $5,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $10,315 · +10.8% YoY. Source: county tax records.