Comparative Market Analysis
Recent comparable sales in the Morgan Hill hillside area to help validate the $2,700,000 minimum bid for 17215 Copper Hill Dr.
Building
2,934 SF
Lot
21,390 SF
Beds/Baths
6/4
Year Built
1969
Auction Minimum Bid
$2,700,000
$920/SF
Avg Sale Price
$2,550,833
Avg Adjusted Value
$2,450,000
Avg Price/SF
$785
Avg Days on Market
41
Minimum Bid Validation
Minimum Bid
$2,700,000
Median Adjusted Comp Value
$2,550,000
Premium Over Avg Adjusted
+10.2%
The minimum bid of $2,700,000 represents a 10.2% premium over the average adjusted comparable value. This premium is justified by the property's entitled development rights (approved renovation plans, permitted ADU, JADU potential), which provide immediate value-add opportunities not present in the raw comparable sales. The recommended HBU scenario projects a post-development value of $2,350,000 with three rental units generating $65,119 annual NOI at a 2.68% cap rate.
Value-Add Factors
- • Approved architectural plans (AR22-0795)
- • Permitted 675 SF detached ADU
- • JADU conversion potential (by-right)
- • Three-unit rental income potential
- • Hillside parcel scarcity in Santa Clara County
Risk Factors
- • High Fire Hazard Severity Zone
- • Hillside construction cost premium
- • Property built in 1969 (age-related repairs)
- • Hillside Combining District restrictions
- • Extended renovation timeline (14-20 months)
Comparable Sales (6)
17450 Ringel Dr
Morgan Hill, CA 95037 · 0.5 mi away
$2,150,000
$827/SF
Size
2,600 SF
Lot
15,200 SF
Beds/Baths
4/3
Year Built
1975
DOM
55 days
15990 Loma Vista Dr
Morgan Hill, CA 95037 · 0.8 mi away
$2,875,000
$757/SF
Size
3,800 SF
Lot
25,400 SF
Beds/Baths
6/5
Year Built
2002
DOM
28 days
17800 Holiday Dr
Morgan Hill, CA 95037 · 0.9 mi away
$1,950,000
$813/SF
Size
2,400 SF
Lot
16,800 SF
Beds/Baths
4/3
Year Built
1972
DOM
48 days
16850 Oak Glen Ave
Morgan Hill, CA 95037 · 1.2 mi away
$2,450,000
$766/SF
Size
3,200 SF
Lot
18,750 SF
Beds/Baths
5/4
Year Built
1985
DOM
42 days
16200 Jackson Oaks Dr
Morgan Hill, CA 95037 · 1.5 mi away
$2,680,000
$788/SF
Size
3,400 SF
Lot
22,000 SF
Beds/Baths
5/4
Year Built
1992
DOM
38 days
18200 Montevina Rd
Morgan Hill, CA 95037 · 2.1 mi away
$3,200,000
$762/SF
Size
4,200 SF
Lot
43,560 SF
Beds/Baths
7/6
Year Built
2010
DOM
35 days
| Metric | Subject Property | Comp Average | Difference |
|---|---|---|---|
| Price / Bid | $2,700,000 | $2,550,833 | $149,167 |
| Building Size | 2,934 SF | 3,267 SF | -333 SF |
| Lot Size | 21,390 SF | 23,618 SF | -2,228 SF |
| Price per SF | $920 | $785 | $135 |
| Bedrooms | 6 | 5.2 | 0.8 |
| Year Built | 1969 | 1989 | -20 yrs |
CMA Disclaimer
This Comparative Market Analysis is provided for informational purposes only and does not constitute a formal appraisal. The comparable sales data represents recent transactions in the Morgan Hill hillside area and has been adjusted for differences in size, lot area, age, and condition relative to the subject property. Actual property values may vary based on market conditions, property-specific factors, and negotiated terms. Bidders are encouraged to conduct their own independent due diligence and obtain a professional appraisal before placing bids. Copper Hill Auctions makes no warranty regarding the accuracy or completeness of this analysis.