Two-Home Duplex
For Sale
$399,900
1124 S 1st Avenue, Dinuba, CA 93618
Residential Income, Dinuba, CA
Property Size1,562 SF
Lot Size0.25 Acres
Price / SF$256.02
Days on Market94
Property Features for 1124 S 1st Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4
Directions
From Crawford ave head west onto E Golden way turn right onto 1st ave property is on the left
Subdivision
Dinuba
Standard status
Active
APN
018123019000
Size
1,562 SF
Lot size
0.25 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1907
Floors in Building
1
Number of units
2
Listing Agency:
Century 21 Select Real Estate · Century 21 Real Estate
(559) 733-9696
Listed By:
Elisa G Bahena · License #02156080
(559) 510-6082
Added: Jun 12
Changed: Sep 13
Last Checked: Sep 13 at 7:06PM
MLS# 242297
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 property includes two separate homes totaling 1,562 square feet on a 0.25-acre lot. The residences provide complementary layouts: one has two bedrooms and one bathroom, while the other offers three bedrooms and one bathroom. Each home has its own driveway, creating distinct access for the residences.
Constructed in 1907, the property is served by public water and public sewer. Located at 1124 S 1st Avenue in Dinuba, California, the offering is being sold as-is. Tenant privacy is requested during property visits.
Constructed in 1907, the property is served by public water and public sewer. Located at 1124 S 1st Avenue in Dinuba, California, the offering is being sold as-is. Tenant privacy is requested during property visits.
Key Highlights
- Two separate homes situated on one 0.25‑acre lot
- Combined property size of 1,562 square feet
- One residence has 2 bedrooms and 1 bathroom
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
$14,114
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
3.53%
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%
$282,280
$282.3K
Cap Rate 7%
$201,629
$201.6K
Cap Rate 9%
$156,822
$156.8K
Market Conditions
NOI Build-Up for 1,562 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
$21.6K $13.80/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$20.2K $12.91/SF
− OpEx
−$6.0K −$3.87/SF
NOI
$14.1K $9.04/SF
Area
Tulare County, 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%
$282,280
Cap Rate 7%
$201,629
Cap Rate 9%
$156,822
Alternative Uses
Best Use
Multifamily LT 5
$201.6K
$176.4K – $235.2K
NOI $14,114 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$185.3K
$162.1K – $216.2K
NOI $12,971 @ 7.0% cap · market cap 3.24%
Theoretical Best
Specialty Retail
$474.5K
$415.2K – $553.5K
NOI $33,212 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Explore this area
Business Placement
Demographics for 93618, CA
30,709
Population
9,040
Households
3.4
Avg Household Size
30
Median Age
14%
College-Educated
71%
High-School Grad
66.9 sq mi
ZIP Area
459
Density / Sq Mi
$63,190
Median Household Income
$31,976
Median Earnings
$1,125
Median Rent
$272,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences occupy one lot, with separate driveways and a two-bedroom and three-bedroom layout.
Where is this duplex located?
The property is located at 1124 S 1st Avenue Dinuba, CA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two separate homes situated on one 0.25‑acre lot; Combined property size of 1,562 square feet; One residence has 2 bedrooms and 1 bathroom
