Vacant Duplex With Attached
For Sale
$1,699,000
201 S Idaho Street, San Mateo, CA 94401
Legal two-unit property offers separate residences, flexible occupancy options, and access to downtown amenities and regional transit.
Property Size3,385 SF
Lot Size0.18 Acres
Price / SF$501.92
Days on Market9
Property Features for 201 S Idaho Street
General Information
Standard status
Active
Size
3,385 SF
Total Parking Spaces
2
Lot size
0.18 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Construction
mid-century
Listing Agency:
KW Advisors
(650) 274-3598
Listed By:
Burt Tsuei · License #01399365
(650) 274-3598
Source:
Exitrealty
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 11:19AM
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 KW Advisors
Investment Insights
Based on property information with market context.
Built in 1950, this legal duplex contains 3,385 square feet of living area across two separate residences on a 7,630-square-foot lot. The larger unit includes 4 bedrooms and 2 bathrooms, while the second offers 3 bedrooms and 1 bathroom. Both homes are currently vacant and retain their original mid-century layouts and details. An attached 2-car garage provides dedicated parking and storage.
The property is positioned in Central San Mateo within walking distance of B Street restaurants and shops, Central Park, and the San Mateo Caltrain station. Caltrain provides service north to San Francisco and south to San Jose, while Highway 101 connects the property with both employment corridors. The vacancy of both units allows an owner to occupy one residence while establishing separate terms for the other.
The property is positioned in Central San Mateo within walking distance of B Street restaurants and shops, Central Park, and the San Mateo Caltrain station. Caltrain provides service north to San Francisco and south to San Jose, while Highway 101 connects the property with both employment corridors. The vacancy of both units allows an owner to occupy one residence while establishing separate terms for the other.
Key Highlights
- Both duplex units delivered vacant at close
- 3,385 square feet across two residences
- Unit mix includes a 4‑bedroom, 2‑bathroom home and a 3‑bedroom, 1‑bathroom home
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
$84,641
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
4.98%
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%
$1,692,820
$1.7M
Cap Rate 7%
$1,209,157
$1.2M
Cap Rate 9%
$940,456
$940.5K
Market Conditions
NOI Build-Up for 3,385 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
$128.0K $37.80/SF
− Vacancy
−$7.0K −$2.08/SF
EGI
$120.9K $35.72/SF
− OpEx
−$36.3K −$10.72/SF
NOI
$84.6K $25.00/SF
Area
San Mateo, CA
Vacancy
5.50%
Lease Rate
$37.80 /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%
$1,692,820
Cap Rate 7%
$1,209,157
Cap Rate 9%
$940,456
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,641 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$1.09M
$955.1K – $1.27M
NOI $76,406 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,718 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,144
Businesses Nearby
Explore this area
Business Placement
Demographics for 94401, CA
35,249
Population
13,798
Households
2.6
Avg Household Size
37
Median Age
45%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
11,371
Density / Sq Mi
$121,258
Median Household Income
$57,724
Median Earnings
$2,713
Median Rent
$1,123,300
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 - Legal two-unit property offers separate residences, flexible occupancy options, and access to downtown amenities and regional transit.
Where is this duplex located?
The property is located at 201 S Idaho Street San Mateo, CA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Both duplex units delivered vacant at close; 3,385 square feet across two residences; Unit mix includes a 4‑bedroom, 2‑bathroom home and a 3‑bedroom, 1‑bathroom home
