Corner-Lot
New
For Sale
$310,000
2114 2nd St, Bakersfield, CA 93304
Two separate homes provide a flexible residential configuration with covered parking and alley access.
Property Size1,639 SF
Days on Market4
Property Features for 2114 2nd St
General Information
Standard status
Active
Size
1,639 SF
Property subtype
Investment
Building Details
Building Size
1,639 SF
Year Built
1929
Stories
1
Listing Agency:
Scott Rivera Real Estate Team
(661) 332-7367
Listed By:
Suzanne Munger · License #01788677
(661) 332-7367
Source:
Elliman
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 9:53AM
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 Scott Rivera Real Estate Team
Investment Insights
Based on property information with market context.
Located at 2114 2nd St in Bakersfield’s Oleander area, this duplex property consists of two separate residences on a corner lot. The front home includes 2 bedrooms and 1 bathroom, while the detached rear home offers 1 bedroom and 1 bathroom. The property was built in 1929 and includes covered carport parking, white picket fencing, and access from the alley. Walk Score is 76, Bike Score is 59, and Transit Score is 34, placing the property in a walkable area with some transit service.
Key Highlights
- Two residences: a 2‑bedroom, 1‑bathroom front home and detached 1‑bedroom, 1‑bathroom rear home
- Corner‑lot duplex at 2114 2nd St, Bakersfield, CA 93304
- Built in 1929
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
$21,240
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
6.85%
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%
$424,800
$424.8K
Cap Rate 7%
$303,429
$303.4K
Cap Rate 9%
$236,000
$236.0K
Market Conditions
NOI Build-Up for 1,639 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
$32.5K $19.80/SF
− Vacancy
−$2.1K −$1.29/SF
EGI
$30.3K $18.51/SF
− OpEx
−$9.1K −$5.55/SF
NOI
$21.2K $12.96/SF
Area
Bakersfield, CA
Vacancy
6.50%
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%
$424,800
Cap Rate 7%
$303,429
Cap Rate 9%
$236,000
Alternative Uses
Best Use
Multifamily LT 5
$303.4K
$265.5K – $354.0K
NOI $21,240 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$281.8K
$246.6K – $328.8K
NOI $19,727 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$434.9K
$380.6K – $507.4K
NOI $30,446 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 93304, CA
50,837
Population
16,380
Households
3.1
Avg Household Size
31
Median Age
11%
College-Educated
71%
High-School Grad
7.5 sq mi
ZIP Area
6,778
Density / Sq Mi
$51,627
Median Household Income
$31,562
Median Earnings
$1,141
Median Rent
$228,800
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 separate homes provide a flexible residential configuration with covered parking and alley access.
Where is this duplex located?
The property is located at 2114 2nd St Bakersfield, CA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two residences: a 2‑bedroom, 1‑bathroom front home and detached 1‑bedroom, 1‑bathroom rear home; Corner‑lot duplex at 2114 2nd St, Bakersfield, CA 93304; Built in 1929
