177 Monroe St #8 · Santa Clara, CA 95050

$598,000

2 bd · 1.0 ba · 787 sqft · Condo public records · 78 Days on market

Built 1989 $760/sqft · 20% below area Est $751k · 20% under $320/mo HOA · 10% of rent

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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).

• ARV discount +15.0/15.0
• Schools +5.3/10.0
• Appreciation +4.4/10.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Cash flow +3.8/30.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Located next to Washington Park, this Condo is priced to be affordable. Its in a nice area centrally located. Its has a one car garage and walk in closer.

Key facts

• $320 HOA
• Garage
• Built 1989

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $598k.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (51.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $326k (45.5% below list).
• Recommended offer: $292k (51.1% below list) — sets the bar for cash-flow.
• Cap rate 2.8% vs local median 1.3% in Santa Clara — 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 78/100 on livability (#69 in CA, #2,627 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Santa Clara Unified (urban): math 49% / reading 66% proficiency, ranked #75 of 517 in CA (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.3%/yr); 69 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.2%/yr); year-one equity from $4k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($562k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $292,396 (51.1% 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 78 days. Have you received any prior offers? Is the seller open to a 51% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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?
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: 0.55% ✗
• Cap rate: 2.82%
• Cash-on-cash: -12.40%
• DSCR: 0.45
• GRM: 15.3

CMA / ARV

• ARV (median comp): $751,489
• List price: $598,000
• Delta: -20.42%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-1.22% appreciation · 7.33% rent growth · sell at horizon

5-year hold

• IRR: -20.7%
• Equity multiple: 0.13×
• Total profit: $-146,019
• Equity at exit: $138,184

10-year hold

• IRR: -10.0%
• Equity multiple: 0.05×
• Total profit: $-159,053
• Equity at exit: $139,914

Cash invested: $167,440 (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 95050

• Home prices YoY: -0.3%
• Rents YoY: 7.3%
• Active inventory: 69
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $3,262 high
• Mortgage (P&I): −$3,136
• Tax from tax record: −$602 /mo · $7,218/yr
• Insurance: −$249
• HOA: −$320
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $-1,730

Break-even live

Break-even rent $5,451

Max offer price $292,396

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: $149,500
• Closing costs: $17,940
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Roxbury St Unit 2 Santa Clara, CA	2.0	1.0	800	$2,900	$3.62	44d	1	0.12mi
2147 Newhall St Santa Clara, CA	1.0–2.0	1.0–2.0	850	$4,348	$5.12	7d	7	0.25mi
856 Monroe St Santa Clara, CA	2.0	1.0	775	$3,200	$4.13	44d	1	0.46mi
1260 N Bascom Ave San Jose, CA	1.0–2.0	1.0	786	$2,695	$3.43	24d	2	0.51mi
2636 Newhall St Santa Clara, CA	1.0	1.0	700	$2,655	$3.79	44d	1	0.52mi
450 California St Unit 1 Santa Clara, CA	2.0	1.0	850	$2,750	$3.24	7d	1	0.53mi
480 California St Unit 1 Santa Clara, CA	2.0	1.0	925	$2,850	$3.08	22d	1	0.54mi
390 N Winchester Blvd Unit 3 3D Santa Clara, CA	1.0	1.0	530	$2,079	$3.92	3d	1	0.71mi
617 Enright Ave #1564 Santa Clara, CA	3.0	2.0	1124	$4,900	$4.36	3d	1	0.79mi
588 El Camino Real Santa Clara, CA	1.0–2.0	1.0–2.0	976	$5,993	$6.14	2d	11	0.87mi
1359 Lewis St Unit 3 Santa Clara, CA	1.0	1.0	600	$1,975	$3.29	7d	1	0.87mi
1359 Lewis St Santa Clara, CA	1.0	1.0	600	$1,975	$3.29	4d	1	0.87mi
1461 Main St #1 Santa Clara, CA	2.0	2.0	1000	$3,750	$3.75	20d	1	0.91mi
2214 Serra Ave #1732 Santa Clara, CA	1.0	1.0	576	$2,680	$4.65	7d	1	0.93mi
315 Bellerose Dr Apt 2 San Jose, CA	1.0	1.0	800	$2,495	$3.12	2d	1	0.99mi
444 Saratoga Ave Santa Clara, CA	1.0–2.0	1.0–2.0	972	$4,000	$4.11	2d	21	1.05mi
350 Chastain Pl Unit 2055 Santa Clara, CA	1.0	1.0	698	$4,710	$6.75	44d	1	1.15mi
350 Chastain Pl Unit 2058 Santa Clara, CA	1.0	1.0	698	$3,550	$5.09	7d	1	1.15mi
1200 Rickabaugh Way Santa Clara, CA	3.0	1.0–2.0	910	$5,485	$6.02	2d	103	1.19mi
1700 Civic Center Dr #315 Santa Clara, CA	1.0	1.0	650	$2,900	$4.46	44d	1	1.22mi
2327 Pruneridge Ave Apt 8 Santa Clara, CA	2.0	1.0	750	$2,795	$3.73	7d	1	1.24mi
1700 Civic Center Dr Santa Clara, CA	1.0	1.0	651	$2,698	$4.14	20d	2	1.24mi
1946 Jackson St Santa Clara, CA	3.0	1.0	985	$4,250	$4.31	7d	1	1.24mi
833 Maryann Dr Unit 2 Santa Clara, CA	1.0	1.0	610	$1,920	$3.15	10d	1	1.25mi
334 Santana Row #349 San Jose, CA	2.0	2.0	1099	$4,650	$4.23	3d	1	1.31mi
2365 Sutter Ave Unit 7 Santa Clara, CA	1.0	1.0	550	$2,095	$3.81	10d	1	1.32mi
966 Parker Ct Unit 2 Santa Clara, CA	1.0	1.0	600	$2,000	$3.33	7d	1	1.34mi
185 Tyler Ave Santa Clara, CA	3.0	2.0	1050	$5,000	$4.76	3d	1	1.35mi
1495 Don Ave Santa Clara, CA	1.0	1.0	536	$2,377	$4.43	3d	2	1.36mi
2492 Karen Dr Santa Clara, CA	1.0	1.0	494	$2,350	$4.76	3d	3	1.38mi
2386 Sutter Ave Apt 8 Santa Clara, CA	1.0	1.0	650	$2,195	$3.38	2d	1	1.39mi
1860 Scott Blvd #1524 Santa Clara, CA	2.0	1.0	750	$3,220	$4.29	24d	1	1.40mi
1819 Joan Way Santa Clara, CA	1.0	1.0	600	$2,095	$3.49	44d	1	1.43mi
367 Santana Hts San Jose, CA	1.0–2.0	1.0–2.5	1859	$6,672	$3.59	2d	5	1.45mi
367 Santana Row #1327 San Jose, CA	1.0–2.0	1.0–2.0	1059	$5,450	$5.15	17d	2	1.47mi
846 Emory St Unit 846-08 San Jose, CA	1.0	1.0	650	$1,995	$3.07	24d	1	1.48mi
1375 Magnolia Ave Unit 1 San Jose, CA	2.0	1.0	832	$4,400	$5.29	44d	1	1.50mi

HOA detail condo

• Monthly dues: $320 · $3,840/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $598,000 Active 78 DOM
2. 2026-06-17
   days on market $598,000 Active 77 DOM
3. 2026-06-16
   days on market $598,000 Active 76 DOM
4. 2026-06-15
   days on market $598,000 Active 75 DOM
5. 2026-06-13
   days on market $598,000 Active 73 DOM
6. 2026-06-13
   days on market $598,000 Active 72 DOM
7. 2026-06-09
   days on market $598,000 Active 69 DOM
8. 2026-06-08
   days on market $598,000 Active 68 DOM
9. 2026-06-07
   days on market $598,000 Active 67 DOM
10. 2026-06-05
    days on market $598,000 Active 64 DOM
11. 2026-06-03
    days on market $598,000 Active 63 DOM
12. 2026-06-02
    days on market $598,000 Active 62 DOM
13. 2026-06-01
    days on market $598,000 Active 61 DOM
14. 2026-05-31
    days on market $598,000 Active 60 DOM
15. 2026-04-02
    listed $598,000 Active 154-char remark

    Show marketing remark (154 chars)

    Located next to Washington Park, this Condo is priced to be affordable. Its in a nice area centrally located. Its has a one car garage and walk in closer.

16. 2026-04-02
    listed $598,000 Active 154-char remark

    Show marketing remark (154 chars)

    Located next to Washington Park, this Condo is priced to be affordable. Its in a nice area centrally located. Its has a one car garage and walk in closer.

17. 2026-02-04
    historical
18. 2025-09-12
    listed Active

ⓘ 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: $7,218 · $602/mo
• Projected year-2 tax: $7,218 · $602/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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 17 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,140
• − Mortgage interest: −$33,497
• − Property taxes: −$7,218
• − Insurance: −$2,990
• − Repairs & maintenance: −$3,131
• − Management: −$3,131
• − HOA: −$3,840
• − Depreciation: −$17,396
• Taxable loss: −$32,064
• Est. tax savings @ 24.0%: +$7,695
• After-tax cash flow: $-13,064/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: Santa Clara Unified
• NCES district ID: 0635430
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 66% ▲ 4.00%
• Median HH income: $97,320
• Composite: 53.46/100
• National rank: #1459
• State rank: #75 of 517 in CA

Livability — Santa Clara

• Score: 78/100
• State rank: #69
• US rank: #2627

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Clara, CA
• County: Santa Clara County · 1,806,974 people
• City population: 127,592
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 39,834
• Household income: $138,466
• Rent vs Own: 58.5% rent · 41.5% own
• Severe rent burden: 2356.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 37% Asian 33% Hispanic / Latino 22% Two or more races 9% Black 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Russian 4% Italian 2% Romanian 2%
• Foreign-born: 37% · Canada, China, Vietnam
• Languages at home: 50% English-only · Spanish 13% Other Indo-European 11% Other Asian/Pacific 7%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.22%
• Current HPI: 388.663
• Rent YoY: ▲ 7.33%
• Metro: San Jose-Sunnyvale-Santa Clara, 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

+0.0% since first listed

4 events — show timeline

• 2026-04-02 Listed $598,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-02 Listed $598,000 MLSListings
• 2026-02-04 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-09-12 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+10.8%/yr

Latest (2025): $7,218 · +330.9% YoY. Source: county tax records.