A non-subsidized, affordable housing alternative in Davis, California
Dos Pinos has 60 units: one-, two-, and three-bedroom units all with private individual courtyards and washer/dryer hookups. Monthly assessments and basic share values are indicated below. Note that the maximum share transfer value may be more. The share value and features of a unit may differ depending on Board-approved permanent improvements made by members to the individual unit.
|Unit Size||Number |
as of Jan. 2017
|Max. Basic Share Value as of Jan. 2017*|
- Dos Pinos members who itemize their income tax deductions are able to deduct their portion of the corporation’s mortgage interest and real estate taxes. For 2016, proportional mortgage interest and real estate taxes were $973 (1-BR); $1385 (2-BR); and $1658 (3-BR).
- Each member’s share value appreciates per criteria outlined in our Bylaws. The annual rate of appreciation is the prime interest rate (as of Jan 1st of each year) as reported by the Wall Street Journal up to a maximum of 10%. Historically, annual rates have ranged from 3.25% to 10.0%.
- Shareholders may apply for Board approval for permanent improvements to their units with the cost of improvements, less depreciation, added to the share value of the unit within the terms of our Permanent Improvement Policy.
- There are minor transfer costs when memberships are purchased or sold, but no closing costs as would be paid when buying a house.
- Approximate financial qualification for membership is a monthly household gross income that is equal to or greater than 2.5 times the monthly assessment noted above.
* The maximum transfer value may be more. The share value and features associated with an individual unit may differ depending on Board-approved permanent improvements made by members, which add value to the share. Most shares have at least one permanent improvement.