586 Monterey Road, Morgan Hill, California 95037, Morgan Hill, - bed, bath

ACTIVE UNDER CONTRACT$999,999
586 Monterey Road, Morgan Hill, California 95037
3Beds
1Bath
1,749Sqft
29,620Lot
Year Built
1935
Close
-
List price
$1,000K
Original List price
$1,000K
Price/Sqft
-
HOA
-
Days on market
203 Days
Sold On
2025-11-13
MLS number
ML82004042
Home ConditionPoor
Features
View-
About this home
Incredibly unique property in North Morgan Hill. Single family, 3 bedroom home on 2/3 of an acre! Bonus room upstairs and a den downstairs & an outbuilding. Tenant occupied with month to month tenants who would like to remain. Gross monthly income is $3,046. Level lot with plenty of space for parking, and easy access. Close to freeway access. Shared water system. Square footage numbers are all approximate / estimates. Please do not drive onto the property or disturb tenants!
Price History
Date
Event
Price
04/24/25
Listing
$999,999
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (128 Listings) | |
|---|---|---|---|
| Beds | 3 | 4 | 34% |
| Baths | 1 | 3 | 4% |
| Square foot | 1,749 | 2,260 | 25% |
| Lot Size | 29,620 | 8,880 | 84% |
| Price | $1,000K | $1.43M | 11% |
| Price per square foot | $572 | $666 | 22% |
| Built year | 1935 | 1990 | 2% |
| HOA | |||
| Days on market | 195 | 146 | 74% |
Condition Rating
Poor
Built in 1935, this property shows significant age and a lack of modern updates. The kitchen features severely outdated light wood cabinets, laminate countertops, linoleum flooring, and older white appliances, indicating a need for substantial rehabilitation. While no bathroom images are provided, given the property's age and the kitchen's condition, it's highly probable the single bathroom is equally dated and requires a full renovation. General interior spaces have older carpeting and dated ceiling fans. The property analysis also highlights the age and potential need for significant updates to systems like plumbing and electrical. These factors collectively point to a property requiring substantial repairs and rehabilitation to meet current living standards.
Pros & Cons
Pros
Generous Lot Size: The property boasts a substantial 2/3 of an acre (29,620 sqft) lot, offering significant potential for expansion, landscaping, or additional structures.
Immediate Income Stream: Currently tenant-occupied with month-to-month tenants generating a gross monthly income of $3,046, providing immediate cash flow for an investor or mortgage offset.
Flexible Living Spaces: Includes a bonus room upstairs, a den downstairs, and an outbuilding, offering versatile options for home office, recreation, or additional storage.
Convenient Location: Situated in North Morgan Hill with easy access to the freeway, enhancing convenience for commuters and overall accessibility.
Ample Parking & Easy Access: The level lot provides plenty of space for parking and easy ingress/egress, a practical advantage for residents and guests.
Cons
Shared Water System: The property relies on a shared water system, which can introduce complexities regarding maintenance, costs, and control over water supply.
Age of Property & Potential Updates: Built in 1935, the home is likely to require significant updates to systems (e.g., plumbing, electrical) and aesthetics, potentially incurring substantial renovation costs.
Tenant Occupancy & Access Limitations: The property is tenant-occupied with strict instructions not to disturb, which can hinder showings, inspections, and potentially delay owner occupancy or redevelopment plans.

