Duplex with Remodeled
For Sale
$379,900
2104 Mayfair Drive W, Fresno, CA 93703
Multi Family, Fresno, CA
Property Size1,575 SF
Lot Size0.15 Acres
Price / SF$241.21
Days on Market93
Property Features for 2104 Mayfair Drive W
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
Parking features
Carport
Exterior features
Stucco, Brick
High school district
Fresno Unified
Directions
From Freeway 41 South, make an exit and turn left onto E McKinley Ave. Then make a left onto N First St and a right onto E Weldon Ave and then a left onto Mayfair Dr,
Subdivision
703
Standard status
Active
APN
44611218
Size
1,575 SF
Lot size
0.15 Acres
Building Details
Year built
1951
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
London Properties, Ltd.
(559) 436-4000
Listed By:
Juan Carlos Mora · License #01496414
(559) 403-6815
Added: Jun 12
Changed: Sep 12
Last Checked: Sep 12 at 4:06PM
MLS# 655026
Copyright © 2026 Fresno Association 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 residential units totaling 1,575 square feet on a 0.1515-acre lot. Unit 2104 includes 2 bedrooms and 1 bathroom, while Unit 2106 provides 1 bedroom and 1 bathroom. The 1951 property has a composition roof, carport parking, and exterior finishes that include stucco and brick.
Unit 2106 was remodeled 3 years ago. The unit configuration creates a three-bedroom, two-bathroom total across the duplex, with each residence offering its own bedroom and bathroom arrangement.
Unit 2106 was remodeled 3 years ago. The unit configuration creates a three-bedroom, two-bathroom total across the duplex, with each residence offering its own bedroom and bathroom arrangement.
Key Highlights
- Two‑unit duplex totaling 1,575 square feet
- Unit 2104 offers 2 bedrooms and 1 bathroom
- Unit 2106 includes 1 bedroom 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
5.43%
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 5.43%
Second Best
Apartment 5plus
$258.2K
$225.9K – $301.2K
NOI $18,072 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$464.1K
$406.1K – $541.5K
NOI $32,489 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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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-unit residential property with carport parking and stucco and brick exterior finishes.
Where is this duplex located?
The property is located at 2104 Mayfair Drive W Fresno, CA.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,575 square feet; Unit 2104 offers 2 bedrooms and 1 bathroom; Unit 2106 includes 1 bedroom and 1 bathroom
