Duplex with Newly Built
For Sale
$600,000
44632 Fern Ave, Lancaster, CA 93534
Two separate residences provide flexible living arrangements and potential rental use near schools and downtown Lancaster.
Property Size2,163 SF
Price / SF$277.39
Days on Market18
Property Features for 44632 Fern Ave
General Information
Standard status
Active
Size
2,163 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
JohnHart Real Estate
Listed By:
Augusto Hernandez · License #01490556
(661) 492-4626
Source:
Jessicadixonrealty
Added: Aug 16
Changed: Aug 29
Last Checked: Sep 1 at 11:02PM
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 JohnHart Real Estate
Investment Insights
Based on property information with market context.
This duplex property includes a primary residence and a separate accessory dwelling unit on the same lot. The front home offers approximately 1,700 square feet with three bedrooms, a bonus room, living and dining areas, and two full bathrooms. Each bedroom has an individual A/C unit, and the home features recently installed tile flooring.
Completed in 2026, the rear ADU adds 463 square feet with one bedroom, a kitchen, and a full bathroom. A washer and dryer are included in the unit. Multiple RV power adapters are installed, and the lot provides room for RV parking or possible future expansion. The property is located near schools and downtown Lancaster.
Completed in 2026, the rear ADU adds 463 square feet with one bedroom, a kitchen, and a full bathroom. A washer and dryer are included in the unit. Multiple RV power adapters are installed, and the lot provides room for RV parking or possible future expansion. The property is located near schools and downtown Lancaster.
Key Highlights
- Two residences on one lot, including a primary home and separate ADU
- Front home includes approximately 1,700 sq ft, 3 bedrooms, and a bonus room
- Rear ADU built in 2026 with 463 sq ft, 1 bedroom, kitchen, and full 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
$36,164
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
6.03%
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%
$723,280
$723.3K
Cap Rate 7%
$516,629
$516.6K
Cap Rate 9%
$401,822
$401.8K
Market Conditions
NOI Build-Up for 2,163 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
$54.5K $25.20/SF
− Vacancy
−$2.8K −$1.32/SF
EGI
$51.7K $23.88/SF
− OpEx
−$15.5K −$7.17/SF
NOI
$36.2K $16.72/SF
Area
Lancaster, CA
Vacancy
5.22%
Lease Rate
$25.20 /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%
$723,280
Cap Rate 7%
$516,629
Cap Rate 9%
$401,822
Alternative Uses
Best Use
Multifamily LT 5
$516.6K
$452.1K – $602.7K
NOI $36,164 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$462.5K
$404.7K – $539.6K
NOI $32,378 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$679.4K
$594.5K – $792.7K
NOI $47,560 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 93534, CA
43,906
Population
16,343
Households
2.7
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
19.0 sq mi
ZIP Area
2,311
Density / Sq Mi
$58,891
Median Household Income
$44,566
Median Earnings
$1,513
Median Rent
$339,900
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 residences provide flexible living arrangements and potential rental use near schools and downtown Lancaster.
Where is this duplex located?
The property is located at 44632 Fern Ave Lancaster, CA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two residences on one lot, including a primary home and separate ADU; Front home includes approximately 1,700 sq ft, 3 bedrooms, and a bonus room; Rear ADU built in 2026 with 463 sq ft, 1 bedroom, kitchen, and full bathroom
