Charming Duplex in South Central
For Sale
$870,000
315 3151/2 Archer Street, Salinas, CA 93901
Duplex in the heart of South Central Salinas. Great investment!
Property Size2,104 SF
Lot Size0.20 Acres
Days on Market364
Property Features for 315 3151/2 Archer Street
General Information
Standard status
Active
Size
2,104 SF
Lot size
0.20 Acres
Property subtype
Duplex
Amenities
Wall Furnace
Oven Range - Gas
Refrigerator
Public Utilities, Water - Public, Composition
Building Details
Building Size
2,104 SF
Year Built
1953
Listing Agency:
M2 Realty Group
(831) 524-0913
Listed By:
Susan Haro
(831) 524-0913
Source:
Kw
Added: Aug 24, 2025
Changed: Aug 22
Last Checked: Aug 22 at 12:58PM
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 M2 Realty Group
Investment Insights
Based on property information with market context.
This duplex, located in the heart of South Central Salinas, is being offered for sale for the first time in almost 40 years. The front unit, constructed in the late 1930s, features three bedrooms and one bathroom, showcasing distinctive characteristics of that era. The back unit, recently remodeled, includes one bedroom and one bathroom, with new laminate flooring and an open-concept living room and kitchen area. The property is located near Hartnell College and within the Salinas City Elementary/High School District, providing educational opportunities. This property presents an opportunity for comfortable living in Salinas.
Key Highlights
- Duplex: Investment opportunity for rental income.
- Remodeled 1 bed/1 bath back unit with new flooring and open concept.
- Desirable location in South Central Salinas.
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
$36,749
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
4.22%
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%
$734,980
$735.0K
Cap Rate 7%
$524,986
$525.0K
Cap Rate 9%
$408,322
$408.3K
Market Conditions
NOI Build-Up for 2,104 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
$53.8K $25.56/SF
− Vacancy
−$1.3K −$0.61/SF
EGI
$52.5K $24.95/SF
− OpEx
−$15.7K −$7.49/SF
NOI
$36.7K $17.47/SF
Area
Salinas, CA
Vacancy
2.38%
Lease Rate
$25.56 /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%
$734,980
Cap Rate 7%
$524,986
Cap Rate 9%
$408,322
Alternative Uses
Best Use
Multifamily LT 5
$525.0K
$459.4K – $612.5K
NOI $36,749 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$483.5K
$423.1K – $564.1K
NOI $33,848 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$662.5K
$579.7K – $772.9K
NOI $46,376 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,933
Businesses Nearby
Explore this area
Business Placement
Demographics for 93901, CA
29,700
Population
11,328
Households
2.6
Avg Household Size
37
Median Age
29%
College-Educated
81%
High-School Grad
9.6 sq mi
ZIP Area
3,094
Density / Sq Mi
$91,639
Median Household Income
$47,620
Median Earnings
$1,792
Median Rent
$721,100
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 - Duplex in the heart of South Central Salinas. Great investment!
Where is this duplex located?
The property is located at 315 3151/2 Archer Street Salinas, CA.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Duplex: Investment opportunity for rental income.; Remodeled 1 bed/1 bath back unit with new flooring and open concept.; Desirable location in South Central Salinas.
