Duplex with Private
New
For Sale
$575,000
1309 3rd Street, Clovis, CA 93612
Two residential units feature garages, laundry hookups, and individual backyard patio areas near Old Town Clovis.
Property Size1,680 SF
Price / SF$342.26
Days on Market3
Property Features for 1309 3rd Street
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Multi Family
Building Details
Year Built
1962
Listing Agency:
The JKRE Investment Group
Listed By:
Jin Kim · License #DRE #01456017
(559) 212-4489
Source:
Exitrealty
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 5 at 3:24PM
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 The JKRE Investment Group
Investment Insights
Based on property information with market context.
This duplex, built in 1962, contains two 2-bedroom, 1-bath units within a 1,680-square-foot property. Each residence includes washer and dryer hookups, an attached one-car garage, and private patio space in the backyard. The 7,425-square-foot lot provides separate outdoor areas for the units.
The property is located at 1309 3rd Street in Clovis, near Old Town Clovis dining and shopping, the Old Town Trail, and Clovis Unified schools. Current rents are $1,550 and $1,350, with an 8.6% allowable increase under AB 1482 for the current period.
The property is located at 1309 3rd Street in Clovis, near Old Town Clovis dining and shopping, the Old Town Trail, and Clovis Unified schools. Current rents are $1,550 and $1,350, with an 8.6% allowable increase under AB 1482 for the current period.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath per unit
- 1,680 square feet on a 7,425‑square‑foot lot
- Attached one‑car garage for each unit
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
$24,744
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
4.30%
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%
$494,880
$494.9K
Cap Rate 7%
$353,486
$353.5K
Cap Rate 9%
$274,933
$274.9K
Market Conditions
NOI Build-Up for 1,680 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
$37.3K $22.20/SF
− Vacancy
−$1.9K −$1.16/SF
EGI
$35.3K $21.04/SF
− OpEx
−$10.6K −$6.31/SF
NOI
$24.7K $14.73/SF
Area
Clovis, CA
Vacancy
5.22%
Lease Rate
$22.20 /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%
$494,880
Cap Rate 7%
$353,486
Cap Rate 9%
$274,933
Alternative Uses
Best Use
Multifamily LT 5
$353.5K
$309.3K – $412.4K
NOI $24,744 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$314.3K
$275.1K – $366.7K
NOI $22,004 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$423.2K
$370.3K – $493.8K
NOI $29,627 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 93612, CA
37,368
Population
14,362
Households
2.6
Avg Household Size
34
Median Age
21%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
5,577
Density / Sq Mi
$64,079
Median Household Income
$40,460
Median Earnings
$1,410
Median Rent
$311,700
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 residential units feature garages, laundry hookups, and individual backyard patio areas near Old Town Clovis.
Where is this duplex located?
The property is located at 1309 3rd Street Clovis, CA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath per unit; 1,680 square feet on a 7,425‑square‑foot lot; Attached one‑car garage for each unit
