Residential Income Property with Lake
For Sale
$139,000
1800 South Main St. 23, Lakeport, CA 95453
Updated two-bedroom, two-bath home with covered patio, fenced yard, and community pool.
Property Size1,368 SF
Price / SF$101.61
Days on Market17
Property Features for 1800 South Main St. 23
General Information
Standard status
Active
Size
1,368 SF
Property subtype
Manufactured In Park
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
pool
covered patio
storage shed/workshop
dock access
Building Details
Buildings
1
Listing Agency:
Johnson Realty
Listed By:
Heidi Johnson
(707) 349-2258
Source:
Tfregroup
Added: Aug 17
Changed: Aug 31
Last Checked: Sep 2 at 3:57AM
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 Johnson Realty
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, two-bath home with extensive recent improvements. Updates include interior and exterior paint, LifeProof LVP flooring, granite countertops, a dishwasher, cooktop, mini-split system, blinds, light fixtures, door hardware, an upgraded main electrical panel with new breakers, and re-leveling. The living and dining areas connect with a covered patio, while the fenced backyard, carport, and storage shed/workshop add practical utility.
Residents have access to a community pool, easy dock access, and the nearby lake. The property is located at 1800 South Main St., 23, Lakeport, CA 95453, near shopping, transportation, the farmer’s market, downtown Lakeport, evening concerts in the park, and other local amenities.
Residents have access to a community pool, easy dock access, and the nearby lake. The property is located at 1800 South Main St., 23, Lakeport, CA 95453, near shopping, transportation, the farmer’s market, downtown Lakeport, evening concerts in the park, and other local amenities.
Key Highlights
- Two‑bedroom, two‑bath home with extensive interior and exterior updates
- Covered patio connecting to the living and dining areas
- Community pool and easy dock access near the lake
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
$10,807
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
7.77%
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%
$216,140
$216.1K
Cap Rate 7%
$154,386
$154.4K
Cap Rate 9%
$120,078
$120.1K
Market Conditions
NOI Build-Up for 1,368 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
$20.7K $15.12/SF
− Vacancy
−$1.0K −$0.76/SF
EGI
$19.6K $14.36/SF
− OpEx
−$8.8K −$6.46/SF
NOI
$10.8K $7.90/SF
Area
Lake County, CA
Vacancy
5.00%
Lease Rate
$15.12 /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%
$216,140
Cap Rate 7%
$154,386
Cap Rate 9%
$120,078
Alternative Uses
Best Use
Apartment 5plus
$154.4K
$135.1K – $180.1K
NOI $10,807 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$549.1K
$480.4K – $640.6K
NOI $38,434 @ 7.0% cap · market cap 27.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 95453, CA
11,978
Population
5,488
Households
2.2
Avg Household Size
48
Median Age
24%
College-Educated
93%
High-School Grad
87.0 sq mi
ZIP Area
138
Density / Sq Mi
$66,775
Median Household Income
$44,929
Median Earnings
$1,091
Median Rent
$371,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-bedroom, two-bath home with covered patio, fenced yard, and community pool.
Where is this residential income property located?
The property is located at 1800 South Main St. 23 Lakeport, CA.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath home with extensive interior and exterior updates; Covered patio connecting to the living and dining areas; Community pool and easy dock access near the lake
