New Construction
For Sale
$595,000
Pending
3232 E Tulare Avenue, Visalia, CA 93292
Residential Income, Visalia, CA
Property Size1,910 SF
Lot Size0.24 Acres
Days on Market306
Property Features for 3232 E Tulare Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 4
Parking features
Garage
Interior features
Ceiling Fan(s), Recessed Lighting
Appliances
Dishwasher, Disposal, Free-Standing Range
Lot features
Landscaped
Directions
From Caldwell and Lovers Lane head north Turn right on Tulare Ave.
Subdivision
Visalia NE
Standard status
Pending
APN
101013022000
Size
1,910 SF
Lot size
0.24 Acres
Taxes and HOA fees
HOA Fee
$170 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
solar panels
low-maintenance yard
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Stucco
Roof type
Composition
Listing Agency:
Melson Realty, Inc.
(559) 788-2222
Listed By:
Renee Teeters
(559) 920-2089
Added: Nov 4, 2025
Changed: Sep 2
Last Checked: Sep 6 at 4:06AM
MLS# 238238
Copyright © 2026 Tulare County MLS. 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 is under construction on a 0.24-acre lot and offers 1,910 square feet of building area. The interior plan features an open-concept living arrangement, quartz countertops, contemporary cabinetry, luxury vinyl flooring, carpeted bedrooms, recessed lighting, and ceiling fans. Central heating and cooling support year-round comfort, while paid-for solar panels add an energy-efficiency feature. The property also includes an attached garage, a low-maintenance yard, a composition roof, stucco construction, and public water and sewer service.
Located in Visalia near shopping, dining, and parks, the property provides a new-construction duplex format with residential income use potential. Appliances include a dishwasher, disposal, and free-standing range.
Located in Visalia near shopping, dining, and parks, the property provides a new-construction duplex format with residential income use potential. Appliances include a dishwasher, disposal, and free-standing range.
Key Highlights
- Duplex under construction with 1,910 square feet of building area
- 0.24‑acre lot in Visalia, CA
- Paid‑for solar panels and energy‑efficient systems
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
$17,259
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
2.90%
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%
$345,180
$345.2K
Cap Rate 7%
$246,557
$246.6K
Cap Rate 9%
$191,767
$191.8K
Market Conditions
NOI Build-Up for 1,910 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
$26.4K $13.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$24.7K $12.91/SF
− OpEx
−$7.4K −$3.87/SF
NOI
$17.3K $9.04/SF
Area
Visalia, CA
Vacancy
6.46%
Lease Rate
$13.80 /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%
$345,180
Cap Rate 7%
$246,557
Cap Rate 9%
$191,767
Alternative Uses
Best Use
Multifamily LT 5
$246.6K
$215.7K – $287.7K
NOI $17,259 @ 7.0% cap · market cap 2.90%
Second Best
Apartment 5plus
$226.6K
$198.3K – $264.4K
NOI $15,861 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$523.2K
$457.8K – $610.4K
NOI $36,626 @ 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
339
Businesses Nearby
Explore this area
Business Placement
Demographics for 93292, CA
43,316
Population
15,028
Households
2.9
Avg Household Size
34
Median Age
18%
College-Educated
84%
High-School Grad
114.7 sq mi
ZIP Area
378
Density / Sq Mi
$80,784
Median Household Income
$40,834
Median Earnings
$1,418
Median Rent
$330,600
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-unit property with modern finishes, paid-for solar panels, and an attached garage.
Where is this duplex located?
The property is located at 3232 E Tulare Avenue Visalia, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Duplex under construction with 1,910 square feet of building area; 0.24‑acre lot in Visalia, CA; Paid‑for solar panels and energy‑efficient systems
