Updated Duplex with Attached
New
For Sale
$1,448,000
1299 Sheppard Ct, Walnut Creek, CA 94598
Residential Income, Walnut Creek, CA
Property Size2,958 SF
Lot Size0.20 Acres
Price / SF$489.52
Days on Market1
Property Features for 1299 Sheppard Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bathroom 4, Bathroom 6, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 3
Window features
Double Pane Windows
Interior features
Cathedral Ceiling(s), Formal Entry
Exterior features
Private Entrance
Fencing
Fenced
Fireplace
1
Appliances
Dryer, Washer
Subdivision
Walnut Creek
Lot features
Court
Directions
Treat to Sheppard to Sheppard Ct.
Standard status
Active
APN
1440300257
Size
2,958 SF
Lot size
0.20 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
indoor laundry
low-maintenance yard
Building Details
Year built
1979
Number of units
2
Flooring type
Carpet
Building materials
Stucco, Wood Siding
Roof type
Composition
Listing Agency:
Dudum Real Estate Group
(925) 937-4000
Listed By:
Veronica Hidalgo · License #01468657
(925) 381-9585
Added: Sep 8
Last Checked: Sep 8 at 11:06PM
MLS# 41147192
Copyright © 2026 Contra Costa 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.
Built in 1979, this 2,958-square-foot duplex occupies a 0.1951-acre parcel in Walnut Creek. Each residence has a private entrance, attached 2-car garage, indoor laundry, vaulted ceilings, walk-in closets, and a primary suite with a private bathroom. The property also includes fenced outdoor areas, central air, forced-air heating, a composition roof, and public water and sewer service. Unit 1299 features updated kitchens, bathrooms, flooring, and dual-pane windows.
The property is near freeway access, BART, shopping, trails, downtown Walnut Creek, and several named public and private schools. Interior features include a formal entry, cathedral ceilings, carpeted flooring, and fireplaces. Washer and dryer appliances are included.
The property is near freeway access, BART, shopping, trails, downtown Walnut Creek, and several named public and private schools. Interior features include a formal entry, cathedral ceilings, carpeted flooring, and fireplaces. Washer and dryer appliances are included.
Key Highlights
- 2,958‑square‑foot duplex on a 0.1951‑acre parcel
- Both residences include attached 2‑car garages and indoor laundry
- Unit 1299 has updated kitchens, bathrooms, flooring, and dual‑pane windows
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
$50,644
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
3.50%
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%
$1,012,880
$1.0M
Cap Rate 7%
$723,486
$723.5K
Cap Rate 9%
$562,711
$562.7K
Market Conditions
NOI Build-Up for 2,958 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
$76.3K $25.80/SF
− Vacancy
−$4.0K −$1.34/SF
EGI
$72.3K $24.46/SF
− OpEx
−$21.7K −$7.34/SF
NOI
$50.6K $17.12/SF
Area
Contra Costa County, CA
Vacancy
5.20%
Lease Rate
$25.80 /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%
$1,012,880
Cap Rate 7%
$723,486
Cap Rate 9%
$562,711
Alternative Uses
Best Use
Multifamily LT 5
$723.5K
$633.1K – $844.1K
NOI $50,644 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$671.7K
$587.8K – $783.7K
NOI $47,022 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$1.12M
$978.4K – $1.30M
NOI $78,269 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,384
Businesses Nearby
Explore this area
Business Placement
Demographics for 94598, CA
26,826
Population
10,735
Households
2.5
Avg Household Size
46
Median Age
74%
College-Educated
98%
High-School Grad
20.6 sq mi
ZIP Area
1,302
Density / Sq Mi
$188,170
Median Household Income
$99,757
Median Earnings
$2,989
Median Rent
$1,307,100
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-unit property with private entrances, indoor laundry, vaulted ceilings, and low-maintenance outdoor areas for each residence.
Where is this duplex located?
The property is located at 1299 Sheppard Ct Walnut Creek, CA.
What is the asking price?
The asking price for this property is $1,448,000.
What are key features of this property?
This property features: 2,958‑square‑foot duplex on a 0.1951‑acre parcel; Both residences include attached 2‑car garages and indoor laundry; Unit 1299 has updated kitchens, bathrooms, flooring, and dual‑pane windows
