Real Estate Investing in Carmel Valley, California (93924)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 93924 (Carmel Valley, CA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 13.7% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 26.1 — hard to cash-flow at these prices.
What’s happening in Carmel Valley, CA (93924)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 93924 Carmel Valley
Not every below-median market is a bargain. Carmel Valley's 93924 ZIP reflects signals that favor experienced operators who can absorb the risk $1.5M pricing implies.
Turning to rents, the numbers look inviting — $1.5M purchase price, 0.0% nominal cap — the work to hit that pro forma in 93924 is substantial and deserves full respect.
In the broader CA picture, 93924 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 93924 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The 93924 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Carmel Valley:
Property Strategy for 93924
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $784,192 | $2,460 | 2.3% | +0.8% | $784,192 |
| 2BR | $1,092,448 | $2,970 | 2.0% | +4.1% | $546,224 |
| 3BR | $1,439,643 | $4,000 | 2.0% | +6.2% | $479,881 |
| 4BR | $1,913,043 | $4,350 | 1.6% | +7.0% | $478,261 |
| 5BR | $2,361,547 | — | — | +5.6% | $472,309 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 93924 Compare?
| Metric | 93924 | Carmel Valley | Salinas, CA | California |
|---|---|---|---|---|
| Home Value | $1,456,692 | $1,456,692 | N/A | $761,003 |
| 5-Year CAGR | 2.2% | 2.2% | N/A | 5.7% |
| Avg Rent | $4,650 | $4,650 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 93924 (Carmel Valley, CA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 93924 (Carmel Valley, CA)?
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Property managers serving Monterey County
Manage rentals here? List your business →36 North Property Management is a leader in Monterey County, providing property management services. summary from their website
A. G. Davi Property Management is a full-service property management company in Monterey, California, offering commercial, long-term residential, and vacation rental management services. summary from their website
Creative Property Management is a premier property manager on the Monterey Peninsula, offering residential and commercial income property management services with over 40 years of experience. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,456,692 |
| Monthly Rent | $4,650 |
| Price-to-Rent | 26.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 4.6% |
📈 Home Appreciation
| 1-Year | +0.5% ▲ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | +2.2% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 93924
Population: 6,046
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 93924
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What kind of tenants rent in Carmel Valley, CA?
Tenant quality in Carmel Valley, CA ranks as solid. Landlords generally report consistent occupancy at market rents of $4,650/mo.
Does Carmel Valley, CA favor landlords or tenants?
Carmel Valley, CA operates under CA law, which is tenant-protective overall for landlords. Expect stable treatment in typical lease and eviction cases.
What does house hacking look like in Carmel Valley, CA?
The a tougher house-hack environment in Carmel Valley, CA reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Should investors worry about vacancy in Carmel Valley, CA?
Vacancy in Carmel Valley, CA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $4,650/mo.
What do rentals go for in Carmel Valley, CA?
Rental rates in Carmel Valley, CA average $4,650/mo. Tenant demand and $1.5M home values make the yield look reasonable by investor standards.
You know 93924 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 93924 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 93924 ranks in Salinas, CA
Every ZIP in this metro, ranked. Free.
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