Two-Unit Duplex with Private
New
For Sale
$340,000
1991 Parker Place, Hanford, CA 93230
Two-bedroom units include individual laundry areas, carports, and private outdoor space.
Property Size1,560 SF
Price / SF$217.95
Days on Market4
Property Features for 1991 Parker Place
General Information
Standard status
Active
Size
1,560 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry area
private yard
Building Details
Year Built
1967
Listing Agency:
London Properties, Ltd.
(559) 333-1555
Listed By:
Nivia M. Lourenco · License #DRE #01265233
(559) 333-1555
Source:
Exitrealty
Added: Aug 14
Changed: Aug 16
Last Checked: Aug 17 at 4:04AM
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 London Properties, Ltd.
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each with two bedrooms and one bathroom. The units measure approximately 780 sq ft apiece, combining for 1,560 sq ft of property size. Both residences include a dedicated laundry area, carport, and private yard. Built in 1967, the property offers a defined two-unit configuration for an owner-occupant or residential income buyer.
Located in Northeast Hanford at 1991 Parker Place, the duplex provides access to schools, shopping, and everyday amenities. The combination of separate living spaces and unit-level outdoor and parking features supports practical residential use.
Located in Northeast Hanford at 1991 Parker Place, the duplex provides access to schools, shopping, and everyday amenities. The combination of separate living spaces and unit-level outdoor and parking features supports practical residential use.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Approximately 780 sq ft per unit; 1,560 sq ft total
- Private yard provided for each unit
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
5.63%
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 5.63%
Second Best
Apartment 5plus
$243.6K
$213.2K – $284.3K
NOI $17,055 @ 7.0% cap · market cap 5.02%
Theoretical Best
Healthcare Medical
$492.9K
$431.3K – $575.0K
NOI $34,501 @ 7.0% cap · market cap 10.15%
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-bedroom units include individual laundry areas, carports, and private outdoor space.
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 $340,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; Approximately 780 sq ft per unit; 1,560 sq ft total; Private yard provided for each unit
