124 Cypress, Carmel Highlands, California 93923, Carmel Highlands, 93923 - 2 bed, 2 bath
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124 Cypress
Carmel Highlands, California 93923
ACTIVE
CONDITION: FAIR
2Beds
2Baths
1,776Sq Ft
10,083Lot Size
Property Price
LIST PRICE$1,895,000
EST. MARKET VALUE
$1,965,715
3% BelowMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,895,000—positioned well below the $1,965,715 Fair Market Value by 3%. This valuation gap offers $70,715 in Instant Equity. Featuring a Condition Rating of 4, the main residence requires modernization, while the newly built detached studio and panoramic ocean views provide significant upside. Located in the Carmel Unified School District with access to top-rated schools, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a coastal renovation project.
Estimated Market Value
$1,965,715+$70,715 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Carmel Highlands.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 124 Cypress Subject 2 bd · 2 ba · 1,776 sqft · $1,107 | $1,895,000* List Price | 2 | 2 | 1,776 | $1,107 | - |
A 123 Fern Canyon Road Active Under Contract 2 bd · 2 ba · 1,312 sqft · $1,143 · 0.2 mi | $1,499,000 List Price | 2 | 2 | 1,312 | $1,143 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Originally built in 1927, the main residence retains a rustic character that is significantly dated. The kitchen features older appliances and cabinetry likely installed over 20-30 years ago. While the property includes a newly built detached studio, the primary home requires modernization of its interior finishes and likely its core systems to meet contemporary standards.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10083, living area = 1776.
- Great Schools
Elementary School: Carmel River Elementary School (9/10). High School: Carmel High School (9/10).
- Prime Coastal Location & Views
Situated in the prestigious Carmel Highlands, the property boasts breathtaking ocean views and immediate proximity to Point Lobos State Natural Reserve, offering a quintessential California coastal lifestyle.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1776, other record living area = 984. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 1.
- Historic Maintenance Requirements
Originally constructed in 1927, the main residence's rustic character may necessitate ongoing maintenance or modernization of older systems to meet contemporary living standards.
- Limited Bedroom Count
With only two bedrooms in the main residence, the property may have limited appeal for larger families or buyers seeking a higher bedroom-to-price ratio in this price bracket.
About 124 Cypress
Discover the beauty and tranquility of Carmel Highlands at 124 Cypress Way, a unique coastal property featuring two separate buildings surrounded by the natural beauty of Californias iconic Central Coast. The main residence offers inviting rustic character and a warm, relaxed atmosphere that complements its coastal setting. A newly built detached studio provides additional flexible spaceideal for a home office, creative retreat, guest space, or other uses. One of the propertys most captivating features is its breathtaking scenic ocean view, creating a remarkable backdrop for everyday living. Enjoy the peaceful surroundings and distinctive character that make Carmel Highlands such a sought-after coastal community. Located just minutes from Point Lobos State Natural Reserve, residents can enjoy spectacular hiking trails, dramatic coastal scenery, hidden coves, and some of the Monterey Peninsulas most celebrated natural landscapes. The property also offers convenient access to the charming shops, galleries, restaurants, and beaches of Carmel-by-the-Sea, while providing the privacy and serenity of Carmel Highlands. 124 Cypress Way presents a special opportunity to experience rustic coastal living, inspiring ocean views, and the natural beauty of the Carmel Highlands.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1927
- Lot Size
- 10,083 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Carmel Highlands Unified Schools
Carmel River Elementary School
Grades K-5 • 2.8 mi
9/10
Carmel Middle School
Grades 6-8 • 3.5 mi
8/10
Carmel High School
Grades 9-12 • 3.8 mi
9/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,776 | 1,999 |
| Lot Size | 10,083 | 43,560 |
| Price | $1.90M | $3.25M |
| Price per sq ft | $1.1K | $1.6K |
| Built year | 1927 | 1972 |
| HOA | $0 | $0 |
| Days on market | 73 | 107 |
Pricing History
Listed for Sale
Aug 12, 2026
$1,895,000
Initial Listing