Duplex on One Lot in
For Sale
$314,900
365 N Echo Avenue, Fresno, CA 93701
MULTI_FAMILY - Fresno, CA
Property Size1,626 SF
Lot Size0.17 Acres
Price / SF$193.67
Days on Market109
Property Features for 365 N Echo Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS5
Parking features
Carport
Patio and Porch features
Porch
Fencing
Fenced, Cross Fenced, Wood
Fireplace
1
Directions
From 99 North, take the Belmont Ave exit, turn right on Belmont, then left on Echo Ave. The home will be on your right at 365 N Echo Ave.
Subdivision
Fresno
Standard status
Active
APN
45912103
Size
1,626 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Floors in Building
1
Flooring type
Hardwood, Tile
Roof type
Composition
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
(888) 652-1314
Listed By:
Marie Meza · License #01772801
(559) 246-4905
Added: May 6
Changed: Aug 5
Last Checked: Aug 22 at 9:06PM
MLS# 234153
Copyright © 2026 Kings County Board 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 offers two separate homes on one lot, both currently tenant-occupied. The front bungalow features two bedrooms and one bathroom with hardwood floors in the living areas and bedrooms, an updated bathroom, a formal dining room with a built-in cabinet, and custom shelving in the living room. The rear unit is a one-bedroom, one-bath layout with newer kitchen cabinets and countertops, LVP flooring throughout, and a mini split system for heating and cooling.
Both homes are served by public water and public sewer and are set under a composition roof. Heating includes central heating, and the property includes a fireplace. Exterior features include a porch, cross fencing, and wood fencing, with convenient alley access for the rear unit. Parking is provided via a carport.
With two tenant-occupied homes on one lot, this setup can support an investor looking for a low-maintenance, income-producing residential property.
Both homes are served by public water and public sewer and are set under a composition roof. Heating includes central heating, and the property includes a fireplace. Exterior features include a porch, cross fencing, and wood fencing, with convenient alley access for the rear unit. Parking is provided via a carport.
With two tenant-occupied homes on one lot, this setup can support an investor looking for a low-maintenance, income-producing residential property.
Key Highlights
- Two homes on one lot, both tenant‑occupied
- Front 2 bed, 1 bath bungalow with hardwood floors and updated bathroom
- Rear 1 bed, 1 bath with newer kitchen cabinets and countertops, LVP flooring
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
$21,297
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
6.76%
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%
$425,940
$425.9K
Cap Rate 7%
$304,243
$304.2K
Cap Rate 9%
$236,633
$236.6K
Market Conditions
NOI Build-Up for 1,626 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
$32.2K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.4K $18.71/SF
− OpEx
−$9.1K −$5.61/SF
NOI
$21.3K $13.10/SF
Area
Fresno, CA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$425,940
Cap Rate 7%
$304,243
Cap Rate 9%
$236,633
Alternative Uses
Best Use
Multifamily LT 5
$304.2K
$266.2K – $355.0K
NOI $21,297 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$266.5K
$233.2K – $311.0K
NOI $18,657 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$479.2K
$419.3K – $559.0K
NOI $33,541 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
Explore this area
Business Placement
Demographics for 93701, CA
12,037
Population
3,836
Households
3.1
Avg Household Size
28
Median Age
7%
College-Educated
48%
High-School Grad
1.5 sq mi
ZIP Area
8,025
Density / Sq Mi
$32,192
Median Household Income
$26,875
Median Earnings
$926
Median Rent
$207,600
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 tenant-occupied homes on one lot with public water and sewer, central heating, and carport parking.
Where is this duplex located?
The property is located at 365 N Echo Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Two homes on one lot, both tenant‑occupied; Front 2 bed, 1 bath bungalow with hardwood floors and updated bathroom; Rear 1 bed, 1 bath with newer kitchen cabinets and countertops, LVP flooring
