Renovated Duplex With Private
New
For Sale
$1,500,000
1036 Dodge Drive, Redwood City, CA 94063
Two separate homes provide a three-bedroom/two-bath and two-bedroom/one-bath configuration with tenant-paid utilities.
Property Size2,470 SF
Price / SF$607.29
Days on Market5
Property Features for 1036 Dodge Drive
General Information
Standard status
Active
Size
2,470 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$19,039
Building Details
Year Built
1969
Listing Agency:
Compass
(415) 874-5000
Listed By:
Matthew Thomson · License #01471708
(650) 515-6555
Source:
Exitrealty
Added: Aug 31
Changed: Sep 3
Last Checked: Sep 4 at 12:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This duplex property includes two separate homes on one lot, with no shared residential walls and a connecting garage. The fully renovated layout combines a 3-bedroom, 2-bath home with a 2-bedroom, 1-bath home. Each residence has its own fenced outdoor area, including a private front yard for the front home and a private backyard for the rear home. The property contains 2,470 square feet and was built in 1969.
Located in the Friendly Acres Neighborhood at 1036 Dodge Drive, the property sits on a quiet, tree-lined street near downtown Redwood City’s dining, shopping, and entertainment amenities. Highways 101, 84, and 280 are noted as providing quick access. Tenants pay all utilities, and the property carries a 4.04% cap rate from day one.
Located in the Friendly Acres Neighborhood at 1036 Dodge Drive, the property sits on a quiet, tree-lined street near downtown Redwood City’s dining, shopping, and entertainment amenities. Highways 101, 84, and 280 are noted as providing quick access. Tenants pay all utilities, and the property carries a 4.04% cap rate from day one.
Key Highlights
- Two homes on one lot with no shared residential walls
- Fully renovated 3‑bedroom/2‑bath and 2‑bedroom/1‑bath unit mix
- 2,470 square feet on a 0.00‑acre lot
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
$71,778
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
4.79%
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%
$1,435,560
$1.4M
Cap Rate 7%
$1,025,400
$1.0M
Cap Rate 9%
$797,533
$797.5K
Market Conditions
NOI Build-Up for 2,470 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
$109.7K $44.40/SF
− Vacancy
−$7.1K −$2.89/SF
EGI
$102.5K $41.51/SF
− OpEx
−$30.8K −$12.45/SF
NOI
$71.8K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /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%
$1,435,560
Cap Rate 7%
$1,025,400
Cap Rate 9%
$797,533
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$897.2K – $1.20M
NOI $71,778 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$960.4K
$840.3K – $1.12M
NOI $67,226 @ 7.0% cap · market cap 4.48%
Theoretical Best
Warehouse
$1.96M
$1.72M – $2.29M
NOI $137,337 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,656
Businesses Nearby
Explore this area
Business Placement
Demographics for 94063, CA
35,836
Population
12,162
Households
2.9
Avg Household Size
34
Median Age
35%
College-Educated
74%
High-School Grad
6.5 sq mi
ZIP Area
5,513
Density / Sq Mi
$115,528
Median Household Income
$50,960
Median Earnings
$2,802
Median Rent
$1,077,100
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 separate homes provide a three-bedroom/two-bath and two-bedroom/one-bath configuration with tenant-paid utilities.
Where is this duplex located?
The property is located at 1036 Dodge Drive Redwood City, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two homes on one lot with no shared residential walls; Fully renovated 3‑bedroom/2‑bath and 2‑bedroom/1‑bath unit mix; 2,470 square feet on a 0.00‑acre lot
