7221 Forest Street, Gilroy, California 95020, Gilroy, 95020 - 6 bed, 2 bath
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7221 Forest Street
Gilroy, California 95020
ACTIVE
CONDITION: GOOD
6Beds
2Baths
1,732Sq Ft
9,147Lot Size
Property Price
LIST PRICE$1,150,000
EST. MARKET VALUE
$1,036,956
10% AboveMARKET VALUE
SUMMARY
This Multi-Unit Residential Asset is a High-Potential Investment Opportunity, listed at $1,150,000—positioned above the $1,036,957 Fair Market Value. While priced at a premium, the property offers significant utility through its two separate 3-bedroom residences and a detached bonus structure on a large 9,147 sqft lot. With a Condition Rating of 3, the home is move-in ready with recent cosmetic updates. This versatile layout is ideal for Buy-and-Hold Investors seeking rental income or Owner-Occupants utilizing a house-hack strategy for multi-generational living.
Estimated Market Value
$1,036,956
Based on Realkey algorithm analyzing recent comparable sales in Gilroy.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7221 Forest Street Subject | $1,150,000* List Price | 6 | 2 | 1,732 | $599 | - |
A 7621 Hanna Street Sold | $1,000,000 | 4 | 2 | 1,905 | $525 | 0.7 mi |
B 6535 Kings Place Sold | $1,018,000 | 4 | 2 | 1,838 | $554 | 0.9 mi |
C 319 Churchill Place Sold | $1,000,000 | 5 | 2 | 2,147 | $466 | 0.7 mi |
D 7070 Hanna Street Active Under Contract | $849,950 List Price | 4 | 2 | 1,172 | $725 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although originally built in 1890, the property is well-maintained and move-in ready. Recent updates include fresh interior paint and new bedroom flooring. The exterior shows a well-kept facade, newer roofing shingles, and clean landscaping, suggesting consistent maintenance that overcomes the base age of the structure.
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 = 9147, living area = 1732.
- Multi-Unit Versatility
The property features two separate 3-bedroom residences on a single lot, providing exceptional flexibility for rental income, multi-generational living, or an owner-occupied investment strategy.
- Additional Bonus Structure
A detached bonus structure equipped with its own bathroom and shower offers versatile space for a home office, guest suite, or creative studio, adding significant functional value beyond the primary dwellings.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1732, other record living area = 1060. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 3.
- Historic Age Maintenance
Originally constructed in 1890, the property may require specialized ongoing maintenance or updates to aging infrastructure and systems common in homes of this era.
- High-Density Living Space
With a total of 1,732 square feet distributed across six bedrooms and two houses, the individual living areas and bedrooms are likely quite compact, which may limit appeal for buyers seeking spacious interiors.
About 7221 Forest Street
Rare opportunity to own two homes on one lot, offering flexibility for homeowners, investors, or multi-generational living. Live in one home and rent the other, continue with the current rental arrangement, or enjoy the space for extended family. The front home is listed as a 3-bedroom, 1-bathroom residence and features an additional bathroom. Recent updates include fresh interior paint and new bedroom flooring. Inside, you'll find a spacious living and dining room combination, plus a rear deck perfect for relaxing or entertaining. A detached bonus structure with a bathroom and shower offers endless possibilities as a guest room, home office, studio, or hobby space. The rear home is listed as a 3-bedroom, 1-bathroom residence and includes an additional half bath. It also features its own private entrance from the back of the property, providing added privacy and convenience. Whether you're seeking rental income, an owner-occupied investment, or a property with room to grow, this versatile offering presents exceptional potential in one unique package. Opportunities like this don't come around often!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1890
- Lot Size
- 9,147 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 4.0 |
| Baths | 2.0 | 2.7 |
| Square foot | 1,732 | 2,212.338 |
| Lot Size | 9,147 | 6,777.206 |
| Price | $1.15M | $1.13M |
| Price per sq ft | $664 | $535 |
| Built year | 1890 | 2000 |
| HOA | $0 | $189 |
| Days on market | 48 | 51 |
Pricing History
Listed for Sale
Jul 23, 2026
$1,150,000
Initial Listing
Sold
Aug 30, 2024
$1,060,000
Public Record
Sold
Dec 16, 2015
$289,000
Public Record
Sold
Nov 23, 2010
$285,000
Public Record
Sold
Feb 26, 2007
$770,000
Public Record