Duplex with Private
For Sale
$340,000
1991 Parker Place, Hanford, CA 93230
Multi-Family, Hanford, CA
Property Size1,560 SF
Lot Size0.17 Acres
Price / SF$217.95
Days on Market47
Property Features for 1991 Parker Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM3
Parking features
Carport
Directions
Take 10th Ave exit and head North. Continue on 10th Ave for about 1.5 miles. Turn right (east) onto Carey Ave. Go about 0.3 miles. Turn left on Parker Place.
Subdivision
North East Hanford
Standard status
Active
APN
014342014000
Size
1,560 SF
Lot size
0.17 Acres
Amenities
laundry area
private yard
Building Details
Floors in Building
1
Roof type
Composition
Listing Agency:
London Properties, Ltd: Hanford
Listed By:
Nivia M Lourenco
(559) 333-1555
Added: Aug 11
Changed: Sep 8
Last Checked: Sep 26 at 2:06AM
MLS# 234772
Copyright © 2026 Kings County Board of REALTORS. 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 contains two 2-bedroom, 1-bath residences, each measuring approximately 780 square feet, for a combined 1,560 square feet. Both units include dedicated laundry areas, a carport, and a private yard. The property sits on a 0.1685-acre lot and has a composition roof, with RM3 zoning supporting its multifamily classification.
Located at 1991 Parker Place in Hanford, the property is near schools, shopping, and everyday amenities. The separate-unit layout and individual outdoor and parking features provide a practical configuration for an owner occupant or income property buyer.
Located at 1991 Parker Place in Hanford, the property is near schools, shopping, and everyday amenities. The separate-unit layout and individual outdoor and parking features provide a practical configuration for an owner occupant or income property buyer.
Key Highlights
- Two 2‑bedroom, 1‑bath units, each approximately 780 sq ft
- 1,560 sq ft duplex on a 0.1685‑acre lot
- Individual laundry areas in both residences
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
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer individual laundry areas, carports, and enclosed outdoor space in Hanford.
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 2‑bedroom, 1‑bath units, each approximately 780 sq ft; 1,560 sq ft duplex on a 0.1685‑acre lot; Individual laundry areas in both residences
