Furnished Multifamily
For Sale
$1,650,000
1435 2nd Street, Calistoga, CA 94515
Residential Income, Calistoga, CA
Property Size2,892 SF
Lot Size0.16 Acres
Price / SF$570.54
Days on Market47
Property Features for 1435 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 1
Parking
2
Parking features
On Street, Covered
Appliances
Varies By Unit
Lot features
Sidewalk
Directions
Washington Street to 2nd Street, use GPS for best directions
Subdivision
Calistoga
Standard status
Active
APN
011203006000
Size
2,892 SF
Lot size
0.16 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Zoned
Water source
Public
Building Details
Year built
1914
Floors in Building
2
Number of units
3
Listing Agency:
Coldwell Banker Brokers of the Valley · Coldwell Banker Real Estate
(707) 258-5200
Listed By:
Tracy Warr · License #01443203
(707) 287-1994
Added: Jul 31
Changed: Sep 15
Last Checked: Sep 15 at 7:06AM
MLS# 326065661
Copyright © 2026 Bay Area Real Estate Information Services, Inc. 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 2,892-square-foot multifamily property occupies a 0.16-acre lot and includes a primary residence with 3 bedrooms and 2 bathrooms. A legal junior ADU adds its own kitchen, bathroom, and laundry facilities, while a historic carriage house includes additional kitchen and laundry areas. The property is offered fully furnished, with laundry equipment included.
Built in 1914, the property is located at 1435 2nd Street in Calistoga, just blocks from downtown Lincoln Street. The carriage house has seller-provided permits and paid plans for conversion into a second legal ADU. Central heating, zoned cooling, public water, public sewer, covered parking, and on-street parking are also included.
Built in 1914, the property is located at 1435 2nd Street in Calistoga, just blocks from downtown Lincoln Street. The carriage house has seller-provided permits and paid plans for conversion into a second legal ADU. Central heating, zoned cooling, public water, public sewer, covered parking, and on-street parking are also included.
Key Highlights
- 2,892 square feet on a 0.16‑acre lot
- Primary residence with 3 bed, 2 bath
- Legal junior ADU includes kitchen, bathroom, and laundry
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
$46,141
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
2.80%
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%
$922,820
$922.8K
Cap Rate 7%
$659,157
$659.2K
Cap Rate 9%
$512,678
$512.7K
Market Conditions
NOI Build-Up for 2,892 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
$88.5K $30.60/SF
− Vacancy
−$4.6K −$1.59/SF
EGI
$83.9K $29.01/SF
− OpEx
−$37.8K −$13.05/SF
NOI
$46.1K $15.95/SF
Area
Napa County, CA
Vacancy
5.20%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
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%
$922,820
Cap Rate 7%
$659,157
Cap Rate 9%
$512,678
Alternative Uses
Best Use
Apartment 5plus
$659.2K
$576.8K – $769.0K
NOI $46,141 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.84M
$5.11M – $6.81M
NOI $408,514 @ 7.0% cap · market cap 24.76%
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
638
Businesses Nearby
Explore this area
Business Placement
Demographics for 94515, CA
6,834
Population
3,214
Households
2.1
Avg Household Size
48
Median Age
36%
College-Educated
79%
High-School Grad
115.5 sq mi
ZIP Area
59
Density / Sq Mi
$97,202
Median Household Income
$50,189
Median Earnings
$1,830
Median Rent
$830,700
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?
Multifamily property - Main residence pairs with a junior ADU featuring a kitchen, bathroom, laundry, and rental income potential.
Where is this multifamily property located?
The property is located at 1435 2nd Street Calistoga, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 2,892 square feet on a 0.16‑acre lot; Primary residence with 3 bed, 2 bath; Legal junior ADU includes kitchen, bathroom, and laundry
