Two-Unit Duplex with Private
For Sale
$400,000
222 E Central Avenue, Madera, CA 93638
Separate outdoor areas and functional layouts add flexibility for residents or ownership strategies.
Property Size1,752 SF
Price / SF$228.31
Days on Market76
Property Features for 222 E Central Avenue
General Information
Standard status
Active
Size
1,752 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1978
Listing Agency:
Anchor Real Estate Services
(559) 718-9197
Listed By:
Jose Rodriguez · License #DRE #01319686
(559) 718-9197
Source:
Exitrealty
Added: Jun 15
Changed: Aug 29
Last Checked: Aug 29 at 1:04PM
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 Anchor Real Estate Services
Investment Insights
Based on property information with market context.
Built in 1978, this 1,752-square-foot duplex contains two residences, each arranged with 2 bedrooms and 1 bath. The property offers separate outdoor areas, including a private backyard and storage shed for one unit, while the other includes its own carport. Interior features include tile flooring, granite kitchen countertops, indoor laundry, and a newer water heater in Unit 1.
Located at 222 E Central Avenue in Madera, the property is surrounded by mature trees and shaded outdoor space. The two-unit configuration and distinct exterior areas provide a practical setup for an owner-occupant or investor, as supported by the existing layout.
Located at 222 E Central Avenue in Madera, the property is surrounded by mature trees and shaded outdoor space. The two-unit configuration and distinct exterior areas provide a practical setup for an owner-occupant or investor, as supported by the existing layout.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bath
- 1,752 SF duplex built in 1978
- Unit 1 includes tile flooring and updated granite kitchen countertops
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
$19,310
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
4.83%
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%
$386,200
$386.2K
Cap Rate 7%
$275,857
$275.9K
Cap Rate 9%
$214,556
$214.6K
Market Conditions
NOI Build-Up for 1,752 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
$29.9K $17.04/SF
− Vacancy
−$2.3K −$1.30/SF
EGI
$27.6K $15.74/SF
− OpEx
−$8.3K −$4.72/SF
NOI
$19.3K $11.02/SF
Area
Madera County, CA
Vacancy
7.60%
Lease Rate
$17.04 /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%
$386,200
Cap Rate 7%
$275,857
Cap Rate 9%
$214,556
Alternative Uses
Best Use
Multifamily LT 5
$275.9K
$241.4K – $321.8K
NOI $19,310 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$255.3K
$223.4K – $297.9K
NOI $17,872 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$678.0K
$593.3K – $791.0K
NOI $47,461 @ 7.0% cap · market cap 11.87%
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
1,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 93638, CA
51,106
Population
12,821
Households
4
Avg Household Size
29
Median Age
8%
College-Educated
56%
High-School Grad
90.3 sq mi
ZIP Area
566
Density / Sq Mi
$60,031
Median Household Income
$28,544
Median Earnings
$1,218
Median Rent
$291,500
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 - Separate outdoor areas and functional layouts add flexibility for residents or ownership strategies.
Where is this duplex located?
The property is located at 222 E Central Avenue Madera, CA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bath; 1,752 SF duplex built in 1978; Unit 1 includes tile flooring and updated granite kitchen countertops
