Updated Residential Income
For Sale
$229,000
232 SE Cazares Circle, Sonoma, CA 95476
Move-in ready home with remodeled bathrooms, new luxury vinyl flooring, and ductless two-zone HVAC.
Property Size1,200 SF
Price / SF$190.83
Days on Market121
Property Features for 232 SE Cazares Circle
General Information
Standard status
Active
Size
1,200 SF
Total Parking Spaces
3
Property subtype
Manufactured In Park
Amenities
Ductless
Built-In Gas Oven, Built-In Gas Range, Free-Standing Gas Range, Free-Standing Refrigerator
Laminate Counters
Covered, On Street
Listing Agency:
Luxe Places International Realty
9137929
Listed By:
Jordan Glaze
Source:
Evrealestate
Added: Apr 25
Changed: Aug 23
Last Checked: Aug 22 at 1:32PM
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 Luxe Places International Realty
Investment Insights
Based on property information with market context.
This updated, move-in ready residence features new luxury vinyl flooring and a modern kitchen with a stainless refrigerator, gas range, and upgraded cabinetry and countertops. The home includes remodeled bathrooms, a whole-home water filtration system, and ductless A/C and heat with two zones. A dedicated laundry room with washer and dryer included adds convenience.
Additional improvements include covered parking for up to three vehicles and two large storage sheds. The home is located in a residential park that offers a community pool, with shopping and dining nearby.
Inside, the configuration is supported by two-zone climate control and a dedicated laundry area, while outdoor storage and covered parking are available onsite.
Additional improvements include covered parking for up to three vehicles and two large storage sheds. The home is located in a residential park that offers a community pool, with shopping and dining nearby.
Inside, the configuration is supported by two-zone climate control and a dedicated laundry area, while outdoor storage and covered parking are available onsite.
Key Highlights
- Move‑in ready with new luxury vinyl flooring and remodeled bathrooms
- Modern kitchen with stainless refrigerator, gas range, upgraded cabinetry, and countertops
- Ductless A/C and heat with 2 zones
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
$8,896
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
3.88%
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%
$177,920
$177.9K
Cap Rate 7%
$127,086
$127.1K
Cap Rate 9%
$98,844
$98.8K
Market Conditions
NOI Build-Up for 1,200 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
$17.3K $14.40/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$16.2K $13.48/SF
− OpEx
−$7.3K −$6.07/SF
NOI
$8.9K $7.41/SF
Area
Sonoma County, CA
Vacancy
6.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$177,920
Cap Rate 7%
$127,086
Cap Rate 9%
$98,844
Alternative Uses
Best Use
Apartment 5plus
$127.1K
$111.2K – $148.3K
NOI $8,896 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$325.2K
$284.5K – $379.4K
NOI $22,762 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 95476, CA
34,575
Population
16,974
Households
2
Avg Household Size
50
Median Age
41%
College-Educated
90%
High-School Grad
107.8 sq mi
ZIP Area
321
Density / Sq Mi
$108,322
Median Household Income
$52,530
Median Earnings
$2,127
Median Rent
$882,300
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?
Mobile home & RV park - Move-in ready home with remodeled bathrooms, new luxury vinyl flooring, and ductless two-zone HVAC.
Where is this mobile home & rv park located?
The property is located at 232 SE Cazares Circle Sonoma, CA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Move‑in ready with new luxury vinyl flooring and remodeled bathrooms; Modern kitchen with stainless refrigerator, gas range, upgraded cabinetry, and countertops; Ductless A/C and heat with 2 zones
