Updated Duplex with Valley
For Sale
$338,000
28060 Poppy Drive, Willits, CA 95490
Two separate residences offer flexible occupancy and rental use.
Property Size1,716 SF
Price / SF$196.97
Days on Market46
Property Features for 28060 Poppy Drive
General Information
Standard status
Active
Size
1,716 SF
Total Parking Spaces
3
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
decks
Ceiling Fan(s)
Fireplace(s), Wall Furnace
Free-Standing Electric Range, Free-Standing Refrigerator
Mountain(s)
Attached, Garage
Building Details
Year Built
1978
Buildings
2
Listing Agency:
RE/MAX Gold - Selzer and Associates
(707) 367-0036
Listed By:
Patricia McMillen · License #01064106
(707) 367-0036
Source:
Evrealestate
Added: Jul 17
Changed: Aug 30
Last Checked: Aug 8 at 4:35AM
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 RE/MAX Gold - Selzer and Associates
Investment Insights
Based on property information with market context.
Built in 1978, this duplex contains two separate 2-bedroom, 1-bath units, each paired with its own single-car garage. Both residences feature refreshed kitchens and updated flooring, along with wall furnaces, ceiling fans, fireplaces, free-standing electric ranges, and refrigerators. Spacious decks extend the living areas outdoors and frame valley views, while the property occupies a large lot.
Located in Willits, the configuration supports several living arrangements, including occupying one unit while renting the other, multigenerational use, or maintaining both units as income-producing residences. The separate layouts and individual garages provide practical separation for occupants.
Located in Willits, the configuration supports several living arrangements, including occupying one unit while renting the other, multigenerational use, or maintaining both units as income-producing residences. The separate layouts and individual garages provide practical separation for occupants.
Key Highlights
- Two separate 2‑bedroom, 1‑bath units
- Each unit includes its own single‑car garage
- Updated flooring and refreshed kitchens in both units
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
$15,869
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
4.69%
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%
$317,380
$317.4K
Cap Rate 7%
$226,700
$226.7K
Cap Rate 9%
$176,322
$176.3K
Market Conditions
NOI Build-Up for 1,716 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
$23.7K $13.80/SF
− Vacancy
−$1.0K −$0.59/SF
EGI
$22.7K $13.21/SF
− OpEx
−$6.8K −$3.96/SF
NOI
$15.9K $9.25/SF
Area
Mendocino County, CA
Vacancy
4.27%
Lease Rate
$13.80 /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%
$317,380
Cap Rate 7%
$226,700
Cap Rate 9%
$176,322
Alternative Uses
Best Use
Multifamily LT 5
$226.7K
$198.4K – $264.5K
NOI $15,869 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$208.6K
$182.5K – $243.4K
NOI $14,602 @ 7.0% cap · market cap 4.32%
Theoretical Best
Flex RnD
$641.6K
$561.4K – $748.5K
NOI $44,909 @ 7.0% cap · market cap 13.29%
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
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 95490, CA
14,227
Population
6,077
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
89%
High-School Grad
430.1 sq mi
ZIP Area
33
Density / Sq Mi
$67,069
Median Household Income
$44,362
Median Earnings
$1,243
Median Rent
$383,900
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?
Duplex - Two separate residences offer flexible occupancy and rental use.
Where is this duplex located?
The property is located at 28060 Poppy Drive Willits, CA.
What is the asking price?
The asking price for this property is $338,000.
What are key features of this property?
This property features: Two separate 2‑bedroom, 1‑bath units; Each unit includes its own single‑car garage; Updated flooring and refreshed kitchens in both units
