Vacant Duplex with Attached
New
For Sale
$1,699,000
201 S Idaho ST, San Mateo, CA 94401
Residential Income (2-4 units), SAN MATEO, CA
Property Size3,385 SF
Lot Size0.18 Acres
Price / SF$501.92
Days on Market2
Property Features for 201 S Idaho ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
E1000R
Bedrooms
7
Rooms
Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 7
Parking features
Garage - Attached
Subdivision
Bowie Estate Etc.
Standard status
Active
Size
3,385 SF
Lot size
0.18 Acres
Utilities
Heating system
Central, Forced Air
Water source
Public
Building Details
Year built
1950
Number of units
2
Listing Agency:
KW Advisors · Keller Williams Realty
(650) 627-3700
Listed By:
Burt Tsuei · License #01399365
(650) 274-3598
Added: Aug 21
Last Checked: Aug 22 at 7:06AM
MLS# ML82056461
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 legal duplex contains 3,385 square feet of living area on a 7,630-square-foot lot, with two separate residences and an attached two-car garage. The larger unit includes four bedrooms and two bathrooms, while the second has three bedrooms and one bathroom. Both interiors retain their original mid-century configuration and have been maintained over time. Central heating is provided by forced-air and central systems, and the property receives public water service.
Located in San Mateo, the property is within walking distance of downtown restaurants and shops on B Street, Central Park, and the San Mateo Caltrain station. Caltrain provides service toward San Francisco and San Jose, while nearby Highway 101 connects the broader Peninsula and Silicon Valley employment areas.
Both units are vacant, providing immediate flexibility for occupancy and leasing decisions. The property was built in 1950 and is zoned E1000R.
Located in San Mateo, the property is within walking distance of downtown restaurants and shops on B Street, Central Park, and the San Mateo Caltrain station. Caltrain provides service toward San Francisco and San Jose, while nearby Highway 101 connects the broader Peninsula and Silicon Valley employment areas.
Both units are vacant, providing immediate flexibility for occupancy and leasing decisions. The property was built in 1950 and is zoned E1000R.
Key Highlights
- Legal duplex with 3,385 square feet across two residences
- 7,630‑square‑foot lot in Central San Mateo
- Unit mix includes 4 bedrooms and 2 bathrooms, plus 3 bedrooms and 1 bathroom
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
2,958
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 - Two unoccupied residences offer flexible occupancy planning, original mid-century character, and the option to establish separate leasing arrangements.
Where is this duplex located?
The property is located at 201 S Idaho ST 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: Legal duplex with 3,385 square feet across two residences; 7,630‑square‑foot lot in Central San Mateo; Unit mix includes 4 bedrooms and 2 bathrooms, plus 3 bedrooms and 1 bathroom
