Duplex on Large Fenced
For Sale
$135,000
27685 Waterman, Barstow, CA 92311
Duplex on 0.826-acre lot with detached two-car garage.
Property Size1,056 SF
Lot Size0.83 Acres
Days on Market230
Property Features for 27685 Waterman
General Information
Standard status
Active
Size
1,056 SF
Lot size
0.83 Acres
Property subtype
Duplex
Building Details
Building Size
1,056 SF
Year Built
1953
Stories
1
Listing Agency:
Keller Williams Realty Redlands
Listed By:
Adria Chamberlain · License #02032478
(760) 265-0065
Source:
Kw
Added: Jan 30
Changed: Sep 15
Last Checked: Sep 16 at 7:46PM
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 Keller Williams Realty Redlands
Investment Insights
Based on property information with market context.
This property is zoned as a duplex and offers potential for investors. The demising wall separating the units was previously removed, but an investor has the option to restore it and return the property to its original duplex configuration, subject to buyer verification and approvals. It sits on a 0.826-acre fenced lot. A detached two-car garage provides additional value and potential for storage or workshop use. The property is in rough condition and will require significant work, making it suitable for investors, contractors, or buyers looking for a project with long-term potential. Reconfiguring the duplex, creating a large single residence, or exploring redevelopment options are all possibilities. The property is sold as-is, with no repairs or credits.
Key Highlights
- Zoned as a duplex, offering income potential or flexible living arrangements.
- Large 0.826‑acre fenced lot provides ample space and development possibilities.
- Detached two‑car garage adds value and potential for storage or workshop.
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
$10,769
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
7.98%
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%
$215,380
$215.4K
Cap Rate 7%
$153,843
$153.8K
Cap Rate 9%
$119,656
$119.7K
Market Conditions
NOI Build-Up for 1,056 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
$16.3K $15.48/SF
− Vacancy
−$963 −$0.91/SF
EGI
$15.4K $14.57/SF
− OpEx
−$4.6K −$4.37/SF
NOI
$10.8K $10.20/SF
Area
San Bernardino County, CA
Vacancy
5.89%
Lease Rate
$15.48 /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%
$215,380
Cap Rate 7%
$153,843
Cap Rate 9%
$119,656
Alternative Uses
Best Use
Multifamily LT 5
$153.8K
$134.6K – $179.5K
NOI $10,769 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$133.6K
$116.9K – $155.8K
NOI $9,349 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$222.7K
$194.9K – $259.9K
NOI $15,592 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 92311, CA
34,524
Population
13,707
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
84%
High-School Grad
424.4 sq mi
ZIP Area
81
Density / Sq Mi
$59,338
Median Household Income
$38,871
Median Earnings
$1,081
Median Rent
$217,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Duplex on 0.826-acre lot with detached two-car garage.
Where is this duplex located?
The property is located at 27685 Waterman Barstow, CA.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Zoned as a duplex, offering income potential or flexible living arrangements.; Large 0.826‑acre fenced lot provides ample space and development possibilities.; Detached two‑car garage adds value and potential for storage or workshop.
