FHA-Ready Duplex Income
For Sale
$475,000
325 N Manila Avenue, Fresno, CA 93727
FHA-ready duplex with two units and separate entrances, offering an owner-occupant or rental income setup.
Property Size2,654 SF
Price / SF$178.98
Days on Market14
Property Features for 325 N Manila Avenue
General Information
Standard status
Active
Size
2,654 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1972
Tenancy
Multi
Listing Agency:
Xpert Agent
(559) 365-9428
Listed By:
Hector Alvarez Jr · License #DRE #02172311
(559) 365-9428
Source:
Exitrealty
Added: Jul 24
Changed: Jul 26
Last Checked: Aug 6 at 5:57AM
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 Xpert Agent
Investment Insights
Based on property information with market context.
This FHA-ready duplex offers a practical two-unit layout with separate entrances for each unit. The configuration supports an owner-occupant arrangement with the option to rent the other unit, or use the property as a residential income asset.
The property is located in Fresno in a convenient setting near shopping, schools, parks, and freeway access.
Each unit provides its own entry and functioning separation, which can simplify day-to-day occupancy and leasing for tenants or residents.
The property is located in Fresno in a convenient setting near shopping, schools, parks, and freeway access.
Each unit provides its own entry and functioning separation, which can simplify day-to-day occupancy and leasing for tenants or residents.
Key Highlights
- FHA‑ready duplex built in 1972
- Two‑unit layout with separate entrances for each unit
- Owner‑occupant or investor setup with potential rental income from one unit
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
$30,774
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
6.48%
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%
$615,480
$615.5K
Cap Rate 7%
$439,629
$439.6K
Cap Rate 9%
$341,933
$341.9K
Market Conditions
NOI Build-Up for 2,654 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
$46.2K $17.40/SF
− Vacancy
−$2.2K −$0.84/SF
EGI
$44.0K $16.56/SF
− OpEx
−$13.2K −$4.97/SF
NOI
$30.8K $11.60/SF
Area
ZIP 93727
Vacancy
4.80%
Lease Rate
$17.40 /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%
$615,480
Cap Rate 7%
$439,629
Cap Rate 9%
$341,933
Alternative Uses
Best Use
Multifamily LT 5
$439.6K
$384.7K – $512.9K
NOI $30,774 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$407.1K
$356.2K – $475.0K
NOI $28,497 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$752.2K
$658.2K – $877.6K
NOI $52,655 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 93727, CA
83,212
Population
25,919
Households
3.2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
22.0 sq mi
ZIP Area
3,782
Density / Sq Mi
$82,247
Median Household Income
$42,002
Median Earnings
$1,277
Median Rent
$370,300
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 - FHA-ready duplex with two units and separate entrances, offering an owner-occupant or rental income setup.
Where is this duplex located?
The property is located at 325 N Manila Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: FHA‑ready duplex built in 1972; Two‑unit layout with separate entrances for each unit; Owner‑occupant or investor setup with potential rental income from one unit
