Duplex With Private
For Sale
$345,000
1991 Parker Place, Hanford, CA 93230
Two separate residences each include laundry space, covered parking, and a fenced outdoor area.
Property Size1,560 SF
Lot Size0.17 Acres
Price / SF$221.15
Days on Market50
Property Features for 1991 Parker Place
General Information
Standard status
Active
Size
1,560 SF
Total Parking Spaces
2
Lot size
0.17 Acres
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry area
private fenced backyard
Building Details
Building Size
1,560 SF
Year Built
1967
Buildings
1
Stories
1
Units
2
Listing Agency:
Real Brokerage Technologies
(559) 333-1555
Listed By:
Nivia M. Lourenco
(559) 333-1555
Source:
Coalingamidstaterealty
Added: Jun 26
Changed: Aug 13
Last Checked: Aug 14 at 2:01PM
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 Real Brokerage Technologies
Investment Insights
Based on property information with market context.
Built in 1967, this duplex contains two separate two-bedroom, one-bath residences totaling 1,560 square feet of living space. Each unit includes a dedicated laundry area, covered carport, and private fenced backyard, providing distinct indoor and outdoor features for both households.
The property occupies a 7,339-square-foot lot at 1991 Parker Place in Hanford, California. Its North East Hanford setting offers access to schools, shopping, and everyday amenities. The two-unit configuration supports separate occupancy while retaining a manageable residential layout for an owner-occupant or rental operator.
The property occupies a 7,339-square-foot lot at 1991 Parker Place in Hanford, California. Its North East Hanford setting offers access to schools, shopping, and everyday amenities. The two-unit configuration supports separate occupancy while retaining a manageable residential layout for an owner-occupant or rental operator.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1,560 sq. ft. of total living space
- Each unit has its own laundry area
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
$19,135
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
5.55%
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%
$382,700
$382.7K
Cap Rate 7%
$273,357
$273.4K
Cap Rate 9%
$212,611
$212.6K
Market Conditions
NOI Build-Up for 1,560 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
$28.6K $18.36/SF
− Vacancy
−$1.3K −$0.84/SF
EGI
$27.3K $17.52/SF
− OpEx
−$8.2K −$5.26/SF
NOI
$19.1K $12.27/SF
Area
Kings County, CA
Vacancy
4.56%
Lease Rate
$18.36 /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%
$382,700
Cap Rate 7%
$273,357
Cap Rate 9%
$212,611
Alternative Uses
Best Use
Multifamily LT 5
$273.4K
$239.2K – $318.9K
NOI $19,135 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$243.6K
$213.2K – $284.3K
NOI $17,055 @ 7.0% cap · market cap 4.94%
Theoretical Best
Healthcare Medical
$492.9K
$431.3K – $575.0K
NOI $34,501 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
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 each include laundry space, covered parking, and a fenced outdoor area.
Where is this duplex located?
The property is located at 1991 Parker Place Hanford, CA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1,560 sq. ft. of total living space; Each unit has its own laundry area
