Building Details

Year built 1926

Number of units 2

Flooring type Tile

Roof type Composition

Listing Agency: Bailey Properties r***@baileyproperties.com Show Phone

Listed By: Cat Rathbun · License #02139427 Show Phone

Added: Jul 9 Changed: Sep 15 Last Checked: Sep 25 at 7:06PM

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MLS# ML82040930

Copyright © 2026 MLS Listings, Inc. 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 1,645-square-foot duplex sits on a 0.12-acre parcel and includes separate residential units. The front home has three bedrooms and one bathroom, while the rear portion includes a building with garage and storage space. One unit is newer and presents well.

Mature avocado trees, gated yards, and off-street parking contribute to the property’s existing outdoor setup. The building was constructed in 1926, has tile flooring and a composition roof, and is served by public water. The property is zoned HDR20 and has maintained 0% vacancy for many years.

Key Highlights

• 1,645‑square‑foot duplex on a 0.12‑acre parcel
• Front home includes 3 bedrooms and 1 bathroom
• Rear building includes garage and storage

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

$28,732

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

3.89%

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%

$574,640 $574.6K

Cap Rate 7%

$410,457 $410.5K

Cap Rate 9%

$319,244 $319.2K

Market Conditions

NOI Build-Up for 1,645 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

$42.0K $25.56/SF

− Vacancy

−$1.0K −$0.61/SF

EGI

$41.0K $24.95/SF

− OpEx

−$12.3K −$7.49/SF

NOI

$28.7K $17.47/SF

Area

Monterey County, CA

Vacancy

2.38%

Lease Rate

$25.56 /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%

$574,640

Cap Rate 7%

$410,457

Cap Rate 9%

$319,244

Alternative Uses

Best Use

Multifamily LT 5

$410.5K

$359.2K – $478.9K (±1% cap)

NOI $28,732 @ 7.0% cap · market cap 3.89%

Second Best

Apartment 5plus

$378.1K

$330.8K – $441.1K (±1% cap)

NOI $26,464 @ 7.0% cap · market cap 3.58%

Theoretical Best

Specialty Retail

$628.1K

$549.6K – $732.8K (±1% cap)

NOI $43,968 @ 7.0% cap · market cap 5.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency HVAC Service (Bike/Boat/Book/etc) Store Pet Grooming Service Butcher Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,055

Businesses Nearby

Explore this area Business Placement

Demographics for 95076, CA

84,433

Population

26,488

Households

3.2

Avg Household Size

35

Median Age

19%

College-Educated

72%

High-School Grad

135.1 sq mi

ZIP Area

625

Density / Sq Mi

$86,685

Median Household Income

$36,077

Median Earnings

$1,851

Median Rent

$767,200

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Separate residences include a front three-bedroom, one-bath home and a rear structure with garage and storage.

Where is this duplex located?

The property is located at 20 Gonda ST Royal Oaks, CA.

What is the asking price?

The asking price for this property is $739,000.

What are key features of this property?

This property features: 1,645‑square‑foot duplex on a 0.12‑acre parcel; Front home includes 3 bedrooms and 1 bathroom; Rear building includes garage and storage