Duplex with Private
New
For Sale
$340,000
1991 Parker Place, Hanford, CA 93230
MULTI_FAMILY - Hanford, CA
Property Size1,560 SF
Lot Size0.17 Acres
Price / SF$217.95
Days on Market2
Property Features for 1991 Parker Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2
Parking features
Carport
Exterior features
Stucco, Wood
High school district
Hanford Schools
Directions
Take 10th Ave exit and head North. Continue on 10th Ave for about 1.5 miles. Turn right (east) onto Carey Ave. Go about 0.3 miles. Turn left on Parker Place.
Subdivision
230
Standard status
Active
APN
014342014000
Size
1,560 SF
Lot size
0.17 Acres
Building Details
Year built
1967
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
London Properties, Ltd.
(559) 436-4000
Listed By:
Nivia Lourenco
(559) 436-4000
Added: Aug 13
Last Checked: Aug 14 at 3:06AM
MLS# 653567
Copyright © 2026 Fresno Association of Realtors. 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.
This duplex contains two 2-bedroom, 1-bath units totaling approximately 1,560 square feet. Each residence includes its own laundry area, carport, and private yard, providing distinct outdoor and parking features for both households. The property was built in 1967 and has stucco and wood exterior finishes with a composition roof.
Set on a 0.1685-acre lot in Hanford, the property offers access to nearby schools, shopping, and everyday amenities. Its two-unit configuration and separate household features create a straightforward residential income property layout.
Set on a 0.1685-acre lot in Hanford, the property offers access to nearby schools, shopping, and everyday amenities. Its two-unit configuration and separate household features create a straightforward residential income property layout.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- Approximately 1,560 square feet total
- Each unit includes a private yard and laundry area
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
$19,135
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
5.63%
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%
$382,700
$382.7K
Cap Rate 7%
$273,357
$273.4K
Cap Rate 9%
$212,611
$212.6K
Market Conditions
NOI Build-Up for 1,560 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
$28.6K $18.36/SF
− Vacancy
−$1.3K −$0.84/SF
EGI
$27.3K $17.52/SF
− OpEx
−$8.2K −$5.26/SF
NOI
$19.1K $12.27/SF
Area
Kings County, CA
Vacancy
4.56%
Lease Rate
$18.36 /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%
$382,700
Cap Rate 7%
$273,357
Cap Rate 9%
$212,611
Alternative Uses
Best Use
Multifamily LT 5
$273.4K
$239.2K – $318.9K
NOI $19,135 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$243.6K
$213.2K – $284.3K
NOI $17,055 @ 7.0% cap · market cap 5.02%
Theoretical Best
Healthcare Medical
$492.9K
$431.3K – $575.0K
NOI $34,501 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
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 - Two residential units feature individual laundry areas, carports, and private outdoor space in Hanford.
Where is this duplex located?
The property is located at 1991 Parker Place Hanford, CA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; Approximately 1,560 square feet total; Each unit includes a private yard and laundry area
