Two-Unit
For Sale
$315,000
243 E Orange Avenue, Shafter, CA 93263
Separate front and rear residences provide a two-bedroom and one-bedroom configuration.
Property Size769 SF
Price / SF$409.62
Days on Market34
Property Features for 243 E Orange Avenue
General Information
Standard status
Active
Size
769 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Listing Agency:
Wise Real Estate
(661) 472-7746
Listed By:
Mario A. Nunez Saavedra
(661) 472-7746
Source:
Exprealty
Added: Jul 29
Changed: Aug 31
Last Checked: Aug 31 at 3:00AM
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 Wise Real Estate
Investment Insights
Based on property information with market context.
This duplex contains two distinct living spaces at 243 E Orange Avenue in Shafter. The front residence includes two bedrooms, one bathroom, and a spacious kitchen. The rear residence has one bedroom, one bathroom, a kitchen, and a living area.
The property’s two-residence layout supports separate occupancy within one asset. Its configuration accommodates a range of residential ownership and rental arrangements, including use of one residence while the other is occupied independently.
The property’s two-residence layout supports separate occupancy within one asset. Its configuration accommodates a range of residential ownership and rental arrangements, including use of one residence while the other is occupied independently.
Key Highlights
- Two separate living spaces within one duplex
- Front residence includes 2 bedrooms, 1 bathroom, and a spacious kitchen
- Rear residence includes 1 bedroom, 1 bathroom, a kitchen, and living area
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
$9,599
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
3.05%
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%
$191,980
$192.0K
Cap Rate 7%
$137,129
$137.1K
Cap Rate 9%
$106,656
$106.7K
Market Conditions
NOI Build-Up for 769 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
$14.1K $18.36/SF
− Vacancy
−$407 −$0.53/SF
EGI
$13.7K $17.83/SF
− OpEx
−$4.1K −$5.35/SF
NOI
$9.6K $12.48/SF
Area
Kern County, CA
Vacancy
2.88%
Lease Rate
$18.36 /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%
$191,980
Cap Rate 7%
$137,129
Cap Rate 9%
$106,656
Alternative Uses
Best Use
Multifamily LT 5
$137.1K
$120.0K – $160.0K
NOI $9,599 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$126.6K
$110.7K – $147.7K
NOI $8,859 @ 7.0% cap · market cap 2.81%
Theoretical Best
Warehouse
$164.3K
$143.8K – $191.7K
NOI $11,500 @ 7.0% cap · market cap 3.65%
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
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 93263, CA
22,341
Population
6,489
Households
3.4
Avg Household Size
29
Median Age
11%
College-Educated
72%
High-School Grad
92.2 sq mi
ZIP Area
242
Density / Sq Mi
$66,774
Median Household Income
$32,973
Median Earnings
$1,182
Median Rent
$301,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate front and rear residences provide a two-bedroom and one-bedroom configuration.
Where is this duplex located?
The property is located at 243 E Orange Avenue Shafter, CA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two separate living spaces within one duplex; Front residence includes 2 bedrooms, 1 bathroom, and a spacious kitchen; Rear residence includes 1 bedroom, 1 bathroom, a kitchen, and living area
