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0 Hawkins Ln
Morgan Hill, CA

0 Hawkins Ln

$499,950
bd • ba • sf

This analysis was generated by artificial intelligence on 1/30/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$499,950

Price/Sq.Ft

$499950

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Desirable Location: The property is located on Hawkins Lane, off of Chesbro Lake Drive, known for its desirable setting. The property description highlights a location with views and privacy. • Potential for Custom Estate Home: The property offers a 'very desirable building site' for an estate home, allowing buyers to create a custom residence. • Additional Dwelling Unit (ADU) Potential: The property description suggests the possibility of building an ADU, which can add value and provide additional income potential. • Large Lot with Recreational Potential: The property offers ample land for recreational purposes, appealing to buyers who value outdoor space and privacy. • Easy Access and Showing: The property description notes 'easy access and easy to show,' which is convenient for potential buyers who want to view the land. The image shows a well-maintained road leading to the property.

The Bad

• Lack of Existing Structure: The property is just a vacant lot, requiring a full build of a home and any additional structures. This is a significant undertaking and expense compared to purchasing an existing home. • Unknown Utility Costs: There is no information available regarding the cost of utilities. This is a crucial consideration for potential buyers as it can add significant expenses to the development process. • High Initial Investment: While the price of $499,950 is for the land only, the total cost, including construction, permits, and utilities, will likely be significantly higher. This requires a large capital investment. • Incomplete Property Information: The listing lacks details about the number of bedrooms, bathrooms, and square footage, which is common for vacant land, but makes it challenging to compare to other properties. The lack of specifics on utilities and systems is also a major drawback. • Long Days on Market: The property has been on the market for 288 days, which is substantially longer than the average in Morgan Hill, indicating potential issues with pricing or buyer demand.

The Ugly

• High Total Development Costs: The cost of building an estate home and an ADU, combined with the initial purchase price, could lead to very high total costs, potentially exceeding comparable properties on the market. The lack of utility information can further increase costs with unexpected connection fees and infrastructure needs. • Uncertain Building Approval: There is no guarantee that the building site approval will be granted without issues or restrictions, potentially causing delays and additional expenses. The property description mentions that the buyer 'can submit for Building site approval', which highlights a step that has not been completed. • Potential for Hidden Issues: As vacant land, there could be hidden issues such as soil conditions, drainage problems, or environmental concerns that could increase development costs and timelines. • Time-Consuming Development Process: The development process, from approvals to construction, can be lengthy and demanding, requiring significant time and effort from the buyer. The listing states 'get the process started for their dream home', emphasizing that the building process is not yet underway and will require significant effort. • Market Risk: The property has been on the market for 288 days, which is significantly longer than the local average. This suggests that either the price point is too high, or that there is a limited pool of buyers for a property that requires so much development. This could lead to a potential loss of value if the market declines before the development is complete.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers Seeking a Custom Estate Home: The property's large lot and desirable building site offer a blank canvas for creating a custom home. The potential for an ADU adds to the flexibility for multi-generational living or rental income. • Buyers Valuing Privacy and Natural Beauty: The property's location provides ample privacy and stunning views of the valley and mountains. The recreational potential of the land appeals to those seeking a serene and nature-filled environment. • Long-Term Investors: Given the desirable location and potential for development, this land may offer long-term appreciation potential. The ability to develop an estate home and an ADU can increase the property's overall value. • Buyers Willing to Navigate the Building Process: The property requires the buyer to submit for building site approval and manage the construction process. This is ideal for those who want full control over the design and build of their home and are comfortable with the time and effort involved.

Not For

• Buyers Seeking a Move-In Ready Home: This property is a vacant lot and requires extensive development before it becomes habitable. It's not suitable for buyers who need a home immediately. • Buyers with Limited Construction Experience: The building process requires time, effort, and familiarity with local building codes and permits. This property may not be ideal for buyers who prefer to avoid construction projects. • Buyers on a Strict Budget: The purchase price of the land is only the initial cost. The buyer will need to budget for building site approval, construction costs, and potential utility installation, which can be significant. • Buyers Requiring Immediate Access to Urban Amenities: While Morgan Hill offers a desirable rural atmosphere, it is less dense than other parts of Silicon Valley. This property may not appeal to buyers seeking immediate access to city amenities and services.
Demographics
Area Median Income

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Risk Assessment

Risk Analysis

• High Development Costs: Building an estate home and an ADU can be very expensive, requiring a substantial budget for construction, permits, and utilities. Cost overruns are always a risk during construction projects. • Long Development Timeline: The approval process for building sites and the construction itself can take a considerable amount of time, potentially stretching into years. This timeline may not suit buyers with an urgent need for housing. • Zoning and Permitting Challenges: Navigating local zoning regulations and building permits can be complex and time-consuming. There's a risk that the permits may not be approved or may come with unexpected restrictions. • Limited Information on Utilities: The absence of specific information about utilities means the buyer must conduct thorough due diligence to understand the cost and feasibility of connecting water, electricity, and sewer. • Market Volatility: The real estate market in Silicon Valley can be volatile. Changes in market conditions can affect the property's value before and after development. The property has been on the market for 288 days, which could signal a pricing issue or limited buyer pool.

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Monthly Costs

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