Duplex with Private
New
For Sale
$988,000
16990 Barnell AVE, Morgan Hill, CA 95037
MULTI_FAMILY - MORGAN HILL, CA
Property Size1,440 SF
Lot Size0.16 Acres
Price / SF$686.11
Days on Market2
Property Features for 16990 Barnell AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3
Bedrooms
4
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Parking
2
Parking features
Off Street, Guest, Garage - Attached, Open
Appliances
Countertop - Tile, Dishwasher, Exhaust Fan, Garbage Disposal, Oven Range - Electric, Refrigerator
Subdivision
Morgan Hill / Gilroy / San Martin
Standard status
Active
Size
1,440 SF
Lot size
0.16 Acres
Utilities
Heating system
Forced Air, Natural Gas, Wall Furnace, Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
private fenced backyards
patios
Building Details
Year built
1977
Number of units
2
Flooring type
Carpet, Linoleum
Roof type
Tile, Concrete
Listing Agency:
Side, Inc
(408) 829-0112
Listed By:
Terel Beppu · License #01754691
(408) 829-0112
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 6:06AM
MLS# ML82057119
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1977 on a 0.1592-acre corner lot, this R3-zoned duplex contains 1,440 square feet across two mirror-image units. Each residence provides 720 square feet with two bedrooms, one bathroom, a living room, and a kitchen with dining space. The units have no common walls, with the attached garages positioned between them for additional separation. Recent improvements include interior and exterior paint, new flooring, stainless-steel appliances, garage doors and openers. Each side also includes a one-car garage, storage space, and a private fenced backyard with a patio.
The property is located at 16990 Barnell AVE in Morgan Hill, less than half a mile from downtown restaurants, shops, coffee, and nightlife, and one mile from the Caltrain station. Additional features include public water, tile and concrete roofing, forced-air and wall-furnace heating, central air, ceiling fans, and off-street parking.
The property is located at 16990 Barnell AVE in Morgan Hill, less than half a mile from downtown restaurants, shops, coffee, and nightlife, and one mile from the Caltrain station. Additional features include public water, tile and concrete roofing, forced-air and wall-furnace heating, central air, ceiling fans, and off-street parking.
Key Highlights
- Two‑unit duplex totaling 1,440 square feet, with 720 square feet per residence
- Each unit includes 2 bedrooms, 1 bathroom, living room, and kitchen dining area
- No common walls; garages separate the mirror‑image units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,101
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$642,020
$642.0K
Cap Rate 7%
$458,586
$458.6K
Cap Rate 9%
$356,678
$356.7K
Market Conditions
NOI Build-Up for 1,440 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.4K $33.60/SF
− Vacancy
−$2.5K −$1.75/SF
EGI
$45.9K $31.85/SF
− OpEx
−$13.8K −$9.55/SF
NOI
$32.1K $22.29/SF
Area
Santa Clara County, CA
Vacancy
5.22%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$642,020
Cap Rate 7%
$458,586
Cap Rate 9%
$356,678
Alternative Uses
Best Use
Multifamily LT 5
$458.6K
$401.3K – $535.0K
NOI $32,101 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$391.0K
$342.2K – $456.2K
NOI $27,372 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$869.4K
$760.7K – $1.01M
NOI $60,855 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,198
Businesses Nearby
Explore this area
Business Placement
Demographics for 95037, CA
53,126
Population
17,185
Households
3.1
Avg Household Size
41
Median Age
44%
College-Educated
90%
High-School Grad
120.1 sq mi
ZIP Area
442
Density / Sq Mi
$158,256
Median Household Income
$71,130
Median Earnings
$2,242
Median Rent
$1,152,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with separate garages, fenced outdoor areas, and convenient access to downtown amenities and Caltrain.
Where is this duplex located?
The property is located at 16990 Barnell AVE Morgan Hill, CA.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,440 square feet, with 720 square feet per residence; Each unit includes 2 bedrooms, 1 bathroom, living room, and kitchen dining area; No common walls; garages separate the mirror‑image units
