Updated Duplex with Private
For Sale
$988,000
16990 Barnell Ave, Morgan Hill, CA 95037
Two separate units offer private outdoor areas, individual garages, and refreshed interiors near downtown amenities and transit.
Property Size1,440 SF
Price / SF$686.11
Days on Market13
Property Features for 16990 Barnell Ave
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,730
Listing Agency:
Side, Inc
(408) 829-0112
Listed By:
Terel Beppu · License #01754691
(408) 829-0112
Source:
Exprealty
Added: Aug 9
Changed: Aug 21
Last Checked: Aug 21 at 6:01AM
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 Side, Inc
Investment Insights
Based on property information with market context.
This duplex contains two mirror-image residences, each with 2 bedrooms, 1 bathroom, 720 square feet of living area, a living room, and a kitchen with dining space. The units are separated by their garages rather than shared walls, providing added privacy. Recent improvements include interior and exterior painting, new flooring, and stainless-steel kitchen appliances. Each residence also includes substantial cabinetry, a one-car garage with a new door and opener, and additional storage.
Both units open to private, fenced backyards with patios, while the property occupies a corner lot. The address is less than half a mile from downtown Morgan Hill restaurants, shops, coffee, and nightlife, and approximately one mile from the Caltrain station. Total living area is 1,440 square feet.
Both units open to private, fenced backyards with patios, while the property occupies a corner lot. The address is less than half a mile from downtown Morgan Hill restaurants, shops, coffee, and nightlife, and approximately one mile from the Caltrain station. Total living area is 1,440 square feet.
Key Highlights
- Duplex with 2 units, each offering 2 bedrooms, 1 bathroom, and 720 square feet
- 1,440 square feet of total living area
- Separate garages between units eliminate common walls
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
$32,101
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
3.25%
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%
$642,020
$642.0K
Cap Rate 7%
$458,586
$458.6K
Cap Rate 9%
$356,678
$356.7K
Market Conditions
NOI Build-Up for 1,440 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
$48.4K $33.60/SF
− Vacancy
−$2.5K −$1.75/SF
EGI
$45.9K $31.85/SF
− OpEx
−$13.8K −$9.55/SF
NOI
$32.1K $22.29/SF
Area
Santa Clara County, CA
Vacancy
5.22%
Lease Rate
$33.60 /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%
$642,020
Cap Rate 7%
$458,586
Cap Rate 9%
$356,678
Alternative Uses
Best Use
Multifamily LT 5
$458.6K
$401.3K – $535.0K
NOI $32,101 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$391.0K
$342.2K – $456.2K
NOI $27,372 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$869.4K
$760.7K – $1.01M
NOI $60,855 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 95037, CA
53,126
Population
17,185
Households
3.1
Avg Household Size
41
Median Age
44%
College-Educated
90%
High-School Grad
120.1 sq mi
ZIP Area
442
Density / Sq Mi
$158,256
Median Household Income
$71,130
Median Earnings
$2,242
Median Rent
$1,152,400
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 units offer private outdoor areas, individual garages, and refreshed interiors near downtown amenities and transit.
Where is this duplex located?
The property is located at 16990 Barnell Ave Morgan Hill, CA.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: Duplex with 2 units, each offering 2 bedrooms, 1 bathroom, and 720 square feet; 1,440 square feet of total living area; Separate garages between units eliminate common walls
