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994 Laurel Grove Dr
Soquel, CA

994 Laurel Grove Dr

$2,900,000
5 bd • 4 ba • 2,438 sf

This analysis was generated by artificial intelligence on 1/24/2025. 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

$2,900,000

Price/Sq.Ft

$1189

Year Built

1993

AI Property Analysis

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

The Good

This 20-acre mountain ridge-top property in Soquel, CA offers exceptional value and unique features. At $1,189.50/sqft, it's priced competitively for the area, considering the extensive land and multiple structures. The property boasts two residences (main house and ADU) plus an extra-large artist studio, providing versatile living and creative spaces. The main house, built in 1993, features 5 bedrooms and 4 bathrooms across 2,438 sqft, with high ceilings, skylights, and open beam ceilings enhancing the sense of space. The property's 20+ fruit trees (including avocado, orange, lemon, lime, and persimmon) offer potential for sustainable living or small-scale agriculture. With a minimal flood risk (1/10) and wind risk (1/10), the property benefits from lower natural disaster concerns compared to many coastal California properties.

The Bad

The property's $2,900,000 price tag, while justified by its features, limits the pool of potential buyers. Its location on a mountain ridge-top, while offering privacy and views, may present accessibility challenges, especially during inclement weather. The moderate fire risk (4/10) is a concern given the property's wooded surroundings. The severe air quality risk (7/10) with 13 bad air days per year could impact outdoor enjoyment and potentially health. The property has been on the market for 85 days, suggesting potential market resistance at this price point. The estimated annual insurance cost of $10,440 is substantial and should be factored into overall ownership costs.

The Ugly

The property's price history reveals significant volatility, with a previous listing at $6,700,000 in October 2023, followed by a dramatic 53.7% decrease to $3,100,000 in August 2024, and a further 6.5% reduction to the current $2,900,000. This instability in pricing could indicate challenges in accurately valuing the property or potential underlying issues. The property's unique features and large acreage may make it difficult to find comparable sales, potentially impacting future resale value. The rural location likely means reliance on septic systems and possibly well water, which can be costly to maintain or replace. The property's size and features (multiple buildings, extensive landscaping) suggest high maintenance costs and time commitment.

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

This property is ideal for affluent buyers seeking a private retreat or family compound, with a household income of $350,000+ (based on a 28% front-end DTI ratio for a 20% down payment on a 30-year mortgage at current rates). It's perfect for those valuing privacy, nature, and space for creative pursuits or hosting extended family. The property suits hobby farmers or gardening enthusiasts due to the existing fruit trees and ample land. It could also appeal to investors looking to create a boutique retreat center or high-end vacation rental, capitalizing on the multiple structures and serene setting.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets due to its high price point and potential maintenance costs. It's impractical for buyers seeking easy access to urban amenities or those who prioritize walkability (Walk Score likely very low). The property isn't ideal for those with limited mobility due to its likely hilly terrain and multi-level main house. Buyers sensitive to air quality issues should be cautious given the severe air quality risk. It's not appropriate for those seeking a low-maintenance lifestyle or investors looking for a straightforward, easily manageable rental property.
Demographics
Area Median Income

$105,508

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Risk Assessment

Climate Risks

airSEVERE

13 bad air quality days per year

fireMODERATE

Insurance: Recommended

heatMINOR

7 extreme heat days per year

98th percentile: 92°F

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

Fire risk is a significant concern (4/10), requiring diligent maintenance of defensible space and potentially impacting insurance costs and availability. The severe air quality risk (7/10) could worsen over time due to climate change, affecting quality of life and potentially property value. The property's unique features may complicate future resale, potentially limiting market liquidity. Maintenance of 20 acres, including numerous fruit trees, could become burdensome and expensive. The rural location may face challenges with internet connectivity and cell phone reception, crucial for remote work. Potential water scarcity issues, common in California, could impact the property's fruit trees and overall water management. The property's size and multiple structures could lead to higher-than-expected utility and maintenance costs.
Insurance
Annual Cost

$10,440

$870 per month

Financials

Monthly Costs

Price History

Property Taxes

$8,455
2024 Tax Assessment
1.7%from previous year
Assessed Value$742,000
Tax Rate1.14%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$1,865,000

-35.7% below list price

Median Price

$1,865,000

Based on 2 recent sales

Price per Sq.Ft

$932

Comparable Properties

420 Aurora Road, Soquel, CA 95073
Price: $1,865,000
Sq.Ft: 2,002
Beds/Baths: /
$/Sq.Ft:
$93221.7%
Sale Date: 7/29/2024
420 Aurora Road, Soquel, CA 95073
Price: $1,865,000
Sq.Ft: 2,002
Beds/Baths: 5/5
$/Sq.Ft:
$93221.7%
Sale Date: 7/29/2024

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