Ranch Duplex with Private
New
For Sale
$595,000
2721-2723 Victoria Drive, Santa Rosa, CA 95407
Residential Income, Santa Rosa, CA
Property Size1,500 SF
Lot Size0.23 Acres
Price / SF$396.67
Days on Market2
Property Features for 2721-2723 Victoria Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4
Parking
2
Exterior features
Private Yard, Yard Space
Appliances
Varies By Unit
Lot features
Shape Regular
Elementary school district
Sonoma
Middle school district
Sonoma
High school district
Sonoma
Directions
Hearn to Victoria
Subdivision
Santa Rosa-Southwest
Standard status
Active
APN
043084006000
Size
1,500 SF
Lot size
0.23 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
private yard
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Carpet
Building materials
Stucco
Architectural style
Ranch
Listing Agency:
Corcoran Icon Properties
(415) 266-3100
Listed By:
David Kerr · License #1256761
(707) 933-7020
Added: Sep 18
Last Checked: Sep 18 at 11:06PM
MLS# 326080217
Copyright © 2026 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,500-square-foot duplex was built in 1960 with a ranch-style design and stucco exterior. Each residence includes 2 bedrooms, 1 bathroom, a private yard, and an attached garage. Interior features include carpet flooring, wall-furnace heating, and appliances that vary by unit. Public water and sewer serve the property, with cable available.
The property occupies a 0.2273-acre lot at 2721-2723 Victoria Drive in Santa Rosa. Its setting provides access to shopping, schools, and commuter routes. Long-term tenants are in place, adding established occupancy to the two-unit residential income configuration.
The property occupies a 0.2273-acre lot at 2721-2723 Victoria Drive in Santa Rosa. Its setting provides access to shopping, schools, and commuter routes. Long-term tenants are in place, adding established occupancy to the two-unit residential income configuration.
Key Highlights
- Two‑unit duplex with 1,500 square feet of property size
- Each unit includes 2 bedrooms and 1 bathroom
- Private yard and attached garage for each residence
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
$29,172
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
4.90%
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%
$583,440
$583.4K
Cap Rate 7%
$416,743
$416.7K
Cap Rate 9%
$324,133
$324.1K
Market Conditions
NOI Build-Up for 1,500 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
$44.1K $29.40/SF
− Vacancy
−$2.4K −$1.62/SF
EGI
$41.7K $27.78/SF
− OpEx
−$12.5K −$8.33/SF
NOI
$29.2K $19.45/SF
Area
Santa Rosa, CA
Vacancy
5.50%
Lease Rate
$29.40 /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%
$583,440
Cap Rate 7%
$416,743
Cap Rate 9%
$324,133
Alternative Uses
Best Use
Multifamily LT 5
$416.7K
$364.7K – $486.2K
NOI $29,172 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$374.3K
$327.5K – $436.7K
NOI $26,201 @ 7.0% cap · market cap 4.40%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Explore this area
Business Placement
Demographics for 95407, CA
42,504
Population
13,371
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
73%
High-School Grad
21.6 sq mi
ZIP Area
1,968
Density / Sq Mi
$82,807
Median Household Income
$40,907
Median Earnings
$1,822
Median Rent
$603,300
Median Home Value
Check the figures for this property
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 residential units offer private outdoor space, attached garages, and long-term tenants in place.
Where is this duplex located?
The property is located at 2721-2723 Victoria Drive Santa Rosa, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,500 square feet of property size; Each unit includes 2 bedrooms and 1 bathroom; Private yard and attached garage for each residence
