Two-Home Duplex
New
For Sale
$1,050,000
231 E Dexter, Covina, CA 91723
Two separate residences provide distinct living spaces with private access, dedicated utilities, and shared outdoor areas.
Property Size1,920 SF
Lot Size0.20 Acres
Days on Market6
Property Features for 231 E Dexter
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
2
Lot size
0.20 Acres
Property subtype
Duplex
Zoning
R3
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
central A/C
indoor laundry
garage with bonus room
yard
Building Details
Building Size
1,920 SF
Year Built
1951
Buildings
2
Listing Agency:
Pinnacle Real Estate Group
Listed By:
THOMAS ZHAO · License #01870645
Source:
Archetyperealty
Added: Sep 13
Changed: Sep 15
Last Checked: Sep 16 at 11:55PM
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 Pinnacle Real Estate Group
Investment Insights
Based on property information with market context.
This duplex property comprises two separate single-family residences, each configured with 2 bedrooms and 1 bathroom. The front home includes tile flooring in the main areas, wood floors in the bedrooms and hallway, a kitchen with indoor laundry, and central A/C. A detached two-car garage adds a bonus room suitable for storage, office use, or hobbies. The rear home offers private alley access, laminate flooring throughout the living areas and bedrooms, tile in the kitchen, and indoor laundry.
The residences occupy an 8,721-square-foot R3 lot at 231 E Dexter in Covina. Front, middle, and rear yards provide separate outdoor areas, while concrete driveways offer on-site parking. Utilities are separately metered, and each residence has an individual trash account. The property was built in 1951.
The residences occupy an 8,721-square-foot R3 lot at 231 E Dexter in Covina. Front, middle, and rear yards provide separate outdoor areas, while concrete driveways offer on-site parking. Utilities are separately metered, and each residence has an individual trash account. The property was built in 1951.
Key Highlights
- Two separate single‑family homes, each with 2 bedrooms and 1 bathroom
- 8,721‑square‑foot R3 lot in Covina
- Detached two‑car garage with bonus room
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
$33,530
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
3.19%
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%
$670,600
$670.6K
Cap Rate 7%
$479,000
$479.0K
Cap Rate 9%
$372,556
$372.6K
Market Conditions
NOI Build-Up for 1,920 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
$51.8K $27.00/SF
− Vacancy
−$3.9K −$2.05/SF
EGI
$47.9K $24.95/SF
− OpEx
−$14.4K −$7.48/SF
NOI
$33.5K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /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%
$670,600
Cap Rate 7%
$479,000
Cap Rate 9%
$372,556
Alternative Uses
Best Use
Multifamily LT 5
$479.0K
$419.1K – $558.8K
NOI $33,530 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$441.3K
$386.2K – $514.9K
NOI $30,894 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$1.03M
$899.5K – $1.20M
NOI $71,957 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,894
Businesses Nearby
Explore this area
Business Placement
Demographics for 91723, CA
19,653
Population
6,516
Households
3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
8,545
Density / Sq Mi
$87,363
Median Household Income
$44,154
Median Earnings
$1,711
Median Rent
$663,800
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 separate residences provide distinct living spaces with private access, dedicated utilities, and shared outdoor areas.
Where is this duplex located?
The property is located at 231 E Dexter Covina, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two separate single‑family homes, each with 2 bedrooms and 1 bathroom; 8,721‑square‑foot R3 lot in Covina; Detached two‑car garage with bonus room
