113 Gonda St · Pajaro, CA 95076

$6,250,000

15 bd · 5.0 ba · 5,764 sqft · MultiFamily public records · 26 Days on market

Built 1989 0.80 ac 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 +13.5/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Rent growth +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +3.2/10.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

113 Gonda Street presents a rare opportunity to acquire a 16-unit multifamily investment property located in unincorporated Monterey County near the Watsonville city limits. The property features an attractive unit mix comprised entirely of spacious three-bedroom floorplans, including a combination of 3 Bed / 2 Bath and 3 Bed / 1.5 Bath units, catering to strong family-oriented and workforce housing demand throughout the Central Coast region. The property offers onsite laundry, ample resident parking, functional layouts, and strong occupancy supported by limited housing supply and high rental demand. Large three-bedroom rental units remain limited throughout the surrounding market, positioning the property for continued demand and future rental growth. Strategically located near Highway 1, the property provides convenient access to Watsonville, Santa Cruz County, Monterey Bay, Salinas, and major employment centers. The surrounding area benefits from a diverse economic base supported by agriculture, healthcare, education, hospitality, logistics, and service industries. 113 Gonda Street represents an exceptional multifamily investment opportunity.

Key facts

• Onsite laundry
• Functional layouts
• 0.8 acre lot

Tags

• ONSITE LAUNDRY
• AMPLE RESIDENT PARKING
• FUNCTIONAL LAYOUTS
• CONVENIENT ACCESS TO HIGHWAY 1

Property features AI

Finance

• Other: Tenant pays for sewer, trash removal, electric, gas, heating, hot water and water services
• Financial info: Annual rental income approximately $551,436; Annual gross income approximately $599,665; Gross scheduled income approximately $599,665; Other income approximately $48,229; Total expenses approximately $179,874; Other expenses approximately $9,362; Trash expense approximately $26,577; Utility expenses approximately $17,096; Landscape expense approximately $1,940; Gross rent multiplier approximately 10.84; Annual tax amount approximately $53,578

Exterior

• Parking: Assigned spaces, carport and uncovered parking; Approximately 30 parking spaces; 20 carport spaces (minimum)
• Security: Tenant pays for utilities and some services (tenant responsibilities listed)
• Utilities: Public water; Public sewer (connected); Individual electric meters; Individual gas meters; Natural gas available; Primary and separate electric and gas meters
• Home design: Multi-unit apartment complex
• Construction: Post & pier foundation; Composition roof; Four separate buildings
• Exterior features: Composition roof; Post & pier foundation; Four buildings; Property owned by a corporation; Zoned RM

Interior

• Kitchen: Standard kitchen appliances (details not provided)
• Bedrooms: Nine 3-bedroom units; Seven 3-bedroom units
• Flooring: Carpet; Laminate
• Bathrooms: Nine units with 1 full bath; Seven units with 2 full baths
• Heating & cooling: Wall furnaces
• Interior features: Carpet and laminate flooring; Coin-operated laundry
• Laundry & utility: Coin-operated laundry; Individual electric and gas meters for units

What this means for you Summary

Snapshot

• This is a 8×3.0bd/1.5ba + 8×3.0bd/2.0ba units multifamily listed at $6.25M.

Deal economics

• At list price, monthly cash flow is $70 ($841/yr) — positive. Per door: $4/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $5.10M (18.4% below list).
• Recommended offer: $5.10M (18.4% 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; solid renter incomes; 530 units permitted in Monterey County in 2024 (50 in 5+ unit buildings).
• At $50,970/mo this rent would consume 671% 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 $43k of loan paydown is wiped out by about $188k 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 26 days — a 2% lower offer ($6.16M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.
• Current owner paid $1.87M; list at $6.25M implies a 234% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $5,097,000 (18.4% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.82% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.13%
• DSCR: 1.01
• GRM: 10.2

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: -12.5%
• Equity multiple: 0.53×
• Total profit: $-815,888
• Equity at exit: $931,895

10-year hold

• IRR: 1.0%
• Equity multiple: 1.08×
• Total profit: $146,749
• Equity at exit: $540,386

Cash invested: $1,750,000 (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 95076

• Rents YoY: 6.6%
• Active inventory: 122
• Price-to-rent: 163.5×

Monthly cashflow live

• Estimated rent: $50,970 medium
• Mortgage (P&I): −$32,776
• Tax from tax record: −$4,694 /mo · $56,329/yr
• Insurance: −$2,604
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$10,704
• Net cashflow: $70

Break-even live

Break-even rent $50,881

Max offer price $6,250,000

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 8× units	3.0	1.5	$25,488
▸ 8× units	3.0	2	$25,488
Total (16 units)			$50,970

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: $1,562,500
• Closing costs: $187,500
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $6,250,000 Active 26 DOM
2. 2026-06-17
   days on market $6,250,000 Active 25 DOM
3. 2026-06-16
   days on market $6,250,000 Active 24 DOM
4. 2026-06-15
   price $6,250,000 Active 23 DOM
5. 2026-06-15
   days on market $6,500,000 Active 23 DOM
6. 2026-06-14
   days on market $6,500,000 Active 21 DOM
7. 2026-06-13
   days on market $6,500,000 Active 20 DOM
8. 2026-06-10
   days on market $6,500,000 Active 18 DOM
9. 2026-06-09
   days on market $6,500,000 Active 17 DOM
10. 2026-06-08
    days on market $6,500,000 Active 16 DOM
11. 2026-06-07
    days on market $6,500,000 Active 15 DOM
12. 2026-06-05
    days on market $6,500,000 Active 12 DOM
13. 2026-06-03
    days on market $6,500,000 Active 11 DOM
14. 2026-06-02
    days on market $6,500,000 Active 10 DOM
15. 2026-06-01
    days on market $6,500,000 Active 9 DOM
16. 2026-05-31
    days on market $6,500,000 Active 8 DOM
17. 2026-05-30
    days on market $6,500,000 Active 7 DOM
18. 2026-05-23
    listed $6,500,000 Active 1163-char remark

    Show marketing remark (1163 chars)

    113 Gonda Street presents a rare opportunity to acquire a 16-unit multifamily investment property located in unincorporated Monterey County near the Watsonville city limits. The property features an attractive unit mix comprised entirely of spacious three-bedroom floorplans, including a combination of 3 Bed / 2 Bath and 3 Bed / 1.5 Bath units, catering to strong family-oriented and workforce housing demand throughout the Central Coast region. The property offers onsite laundry, ample resident parking, functional layouts, and strong occupancy supported by limited housing supply and high rental demand. Large three-bedroom rental units remain limited throughout the surrounding market, positioning the property for continued demand and future rental growth. Strategically located near Highway 1, the property provides convenient access to Watsonville, Santa Cruz County, Monterey Bay, Salinas, and major employment centers. The surrounding area benefits from a diverse economic base supported by agriculture, healthcare, education, hospitality, logistics, and service industries. 113 Gonda Street represents an exceptional multifamily investment opportunity.

19. 2026-05-23
    listed $6,500,000 Active 1163-char remark

    Show marketing remark (1163 chars)

    113 Gonda Street presents a rare opportunity to acquire a 16-unit multifamily investment property located in unincorporated Monterey County near the Watsonville city limits. The property features an attractive unit mix comprised entirely of spacious three-bedroom floorplans, including a combination of 3 Bed / 2 Bath and 3 Bed / 1.5 Bath units, catering to strong family-oriented and workforce housing demand throughout the Central Coast region. The property offers onsite laundry, ample resident parking, functional layouts, and strong occupancy supported by limited housing supply and high rental demand. Large three-bedroom rental units remain limited throughout the surrounding market, positioning the property for continued demand and future rental growth. Strategically located near Highway 1, the property provides convenient access to Watsonville, Santa Cruz County, Monterey Bay, Salinas, and major employment centers. The surrounding area benefits from a diverse economic base supported by agriculture, healthcare, education, hospitality, logistics, and service industries. 113 Gonda Street represents an exceptional multifamily investment opportunity.

20. 2024-08-21
    historical $3,000
21. 2024-07-06
    listed $3,000
22. 2008-10-21
    soldstatus $1,870,000
23. 1989-07-12
    soldstatus $1,140,000

ⓘ 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: $56,329 · $4,694/mo
• Projected year-2 tax: $56,329 · $4,694/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 7/10 Severe FEMA zone AO · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 13 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: $611,640
• − Mortgage interest: −$350,097
• − Property taxes: −$56,329
• − Insurance: −$32,717
• − Repairs & maintenance: −$48,931
• − Management: −$48,931
• − Depreciation: −$181,818
• Taxable loss: −$107,184
• Est. tax savings @ 24.0%: +$25,724
• After-tax cash flow: $26,565/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

+470.2% since first listed

6 events — show timeline

• 2026-05-23 Listed $6,500,000 MLSListings
• 2026-05-23 Listed $6,500,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-08-21 Rental Removed $3,000 APPFOLIO
• 2024-07-06 Listed for Rent $3,000 APPFOLIO
• 2008-10-21 Sold (Public Records) $1,870,000 Public Records
• 1989-07-12 Sold (Public Records) $1,140,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $56,329 · +10.8% YoY. Source: county tax records.