Duplex with Remodeled
For Sale
$398,000
2104 Mayfair Dr, Fresno, CA 93703
Two-unit residential property with a two-bedroom layout and a separate one-bedroom residence.
Property Size1,575 SF
Price / SF$252.70
Days on Market160
Property Features for 2104 Mayfair Dr
General Information
Standard status
Active
Size
1,575 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1951
Listing Agency:
London Properties LTD
(559) 403-6815
Listed By:
Juan Carlos Mora · License #01496414
Source:
Sacramentoareahouses
Added: Mar 25
Changed: Aug 31
Last Checked: Aug 30 at 6:05PM
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 1,575-square-foot duplex, constructed in 1951, contains two separate residential units. The unit mix includes a two-bedroom, one-bath layout at 2104 and a one-bedroom, one-bath layout at 2106. The 2106 residence received remodeling work 3 years ago, providing a more recently updated component within the property.
The property is located at 2104 Mayfair Dr in Fresno, California. Its two-unit configuration and distinct bedroom layouts provide a clearly defined residential income property profile, with each residence offering one bathroom.
The property is located at 2104 Mayfair Dr in Fresno, California. Its two-unit configuration and distinct bedroom layouts provide a clearly defined residential income property profile, with each residence offering one bathroom.
Key Highlights
- Two‑unit duplex configuration
- 1,575 SF property built in 1951
- Unit 2104 includes 2 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
$20,629
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
5.18%
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%
$412,580
$412.6K
Cap Rate 7%
$294,700
$294.7K
Cap Rate 9%
$229,211
$229.2K
Market Conditions
NOI Build-Up for 1,575 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
$31.2K $19.80/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$29.5K $18.71/SF
− OpEx
−$8.8K −$5.61/SF
NOI
$20.6K $13.10/SF
Area
Fresno, CA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$412,580
Cap Rate 7%
$294,700
Cap Rate 9%
$229,211
Alternative Uses
Best Use
Multifamily LT 5
$294.7K
$257.9K – $343.8K
NOI $20,629 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$258.2K
$225.9K – $301.2K
NOI $18,072 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$464.1K
$406.1K – $541.5K
NOI $32,489 @ 7.0% cap · market cap 8.16%
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
748
Businesses Nearby
Explore this area
Business Placement
Demographics for 93703, CA
34,840
Population
11,155
Households
3.1
Avg Household Size
31
Median Age
9%
College-Educated
72%
High-School Grad
4.8 sq mi
ZIP Area
7,258
Density / Sq Mi
$43,236
Median Household Income
$30,359
Median Earnings
$1,204
Median Rent
$250,200
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-unit residential property with a two-bedroom layout and a separate one-bedroom residence.
Where is this duplex located?
The property is located at 2104 Mayfair Dr Fresno, CA.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,575 SF property built in 1951; Unit 2104 includes 2 bedrooms and 1 bathroom
