Duplex Property with Multifamily
For Sale
$169,900
1915 E Houston Avenue, Visalia, CA 93292
Residential Income, Visalia, CA
Property Size1,152 SF
Lot Size0.26 Acres
Price / SF$147.48
Days on Market803
Property Features for 1915 E Houston Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
High Density Multiple Units
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
From Hwy 198 go north on Ben Maddox to Houston Ave. Turn east on Houston to the property on the south side of the street.
Subdivision
Visalia NE
Standard status
Active
APN
098180049000
Size
1,152 SF
Lot size
0.26 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1900
Floors in Building
1
Number of units
2
Building materials
Brick, Wood Siding
Roof type
Rolled Hot Mop
Listing Agency:
Century 21 Select Real Estate · Century 21 Real Estate
(559) 733-9696
Listed By:
Matt Thompson · License #01081237
(559) 936-7545
Added: Jun 19, 2024
Changed: Aug 27
Last Checked: Aug 30 at 11:06AM
MLS# 229848
Copyright © 2026 Tulare County MLS. 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 duplex property includes one building containing 1,152 square feet on a 0.26-acre parcel. Construction materials include brick and wood siding, with a rolled hot mop roof. The building dates to 1900 and includes a bathroom.
The property is located at 1915 E Houston Avenue in Visalia, California. High-density multifamily zoning applies to the site. Public water and public sewer are identified, while water service and electricity to the property are noted as not currently connected. The source information also indicates that commercial use may not be granted by the city.
The property is located at 1915 E Houston Avenue in Visalia, California. High-density multifamily zoning applies to the site. Public water and public sewer are identified, while water service and electricity to the property are noted as not currently connected. The source information also indicates that commercial use may not be granted by the city.
Key Highlights
- 1,152‑square‑foot building on a 0.26‑acre parcel
- High Density Multi Family zoning
- Brick and wood siding construction
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
$10,409
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
6.13%
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%
$208,180
$208.2K
Cap Rate 7%
$148,700
$148.7K
Cap Rate 9%
$115,656
$115.7K
Market Conditions
NOI Build-Up for 1,152 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
$15.9K $13.80/SF
− Vacancy
−$1.0K −$0.89/SF
EGI
$14.9K $12.91/SF
− OpEx
−$4.5K −$3.87/SF
NOI
$10.4K $9.04/SF
Area
Visalia, CA
Vacancy
6.46%
Lease Rate
$13.80 /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%
$208,180
Cap Rate 7%
$148,700
Cap Rate 9%
$115,656
Alternative Uses
Best Use
Multifamily LT 5
$148.7K
$130.1K – $173.5K
NOI $10,409 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$136.7K
$119.6K – $159.4K
NOI $9,566 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$315.6K
$276.1K – $368.2K
NOI $22,091 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 93292, CA
43,316
Population
15,028
Households
2.9
Avg Household Size
34
Median Age
18%
College-Educated
84%
High-School Grad
114.7 sq mi
ZIP Area
378
Density / Sq Mi
$80,784
Median Household Income
$40,834
Median Earnings
$1,418
Median Rent
$330,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Existing improvements sit on a high-density multifamily-zoned parcel with public water and sewer service identified.
Where is this duplex located?
The property is located at 1915 E Houston Avenue Visalia, CA.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 1,152‑square‑foot building on a 0.26‑acre parcel; High Density Multi Family zoning; Brick and wood siding construction
