Two-Unit Duplex
New
For Sale
$580,000
33661 Sky Blue Water Trl, Cathedral City, CA 92234
Two separate residences offer flexible occupancy and the potential for rental income.
Property Size1,728 SF
Price / SF$335.65
Days on Market6
Property Features for 33661 Sky Blue Water Trl
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Listing Agency:
HomeSmart
Listed By:
Miguel Briones · License #01705617
(760) 844-7500
Source:
Exprealty
Added: Sep 19
Changed: Sep 23
Last Checked: Sep 23 at 2:46AM
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 HomeSmart
Investment Insights
Based on property information with market context.
Located at 33661 Sky Blue Water Trail in Cathedral City, this 1,728-square-foot duplex contains two separate living units. Each residence includes a living area, kitchen, bedrooms, and bathrooms arranged for everyday use.
The property provides distinct spaces for occupants and is positioned with access to shopping, dining, entertainment, golf, and other Coachella Valley attractions. Its two-unit configuration supports a range of ownership arrangements, including rental use, multigenerational living, or occupancy of one unit while using the other for income.
The property provides distinct spaces for occupants and is positioned with access to shopping, dining, entertainment, golf, and other Coachella Valley attractions. Its two-unit configuration supports a range of ownership arrangements, including rental use, multigenerational living, or occupancy of one unit while using the other for income.
Key Highlights
- 1,728‑square‑foot duplex
- Two separate living units
- Each unit includes living spaces, a kitchen, bedrooms, and bathrooms
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
$30,361
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
5.23%
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%
$607,220
$607.2K
Cap Rate 7%
$433,729
$433.7K
Cap Rate 9%
$337,344
$337.3K
Market Conditions
NOI Build-Up for 1,728 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
$44.2K $25.56/SF
− Vacancy
−$795 −$0.46/SF
EGI
$43.4K $25.10/SF
− OpEx
−$13.0K −$7.53/SF
NOI
$30.4K $17.57/SF
Area
Riverside County, CA
Vacancy
1.80%
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%
$607,220
Cap Rate 7%
$433,729
Cap Rate 9%
$337,344
Alternative Uses
Best Use
Multifamily LT 5
$433.7K
$379.5K – $506.0K
NOI $30,361 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$399.6K
$349.6K – $466.2K
NOI $27,970 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$517.7K
$453.0K – $604.0K
NOI $36,238 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 92234, CA
51,509
Population
23,114
Households
2.2
Avg Household Size
42
Median Age
26%
College-Educated
81%
High-School Grad
14.8 sq mi
ZIP Area
3,480
Density / Sq Mi
$67,031
Median Household Income
$34,895
Median Earnings
$1,554
Median Rent
$420,700
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 separate residences offer flexible occupancy and the potential for rental income.
Where is this duplex located?
The property is located at 33661 Sky Blue Water Trl Cathedral City, CA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 1,728‑square‑foot duplex; Two separate living units; Each unit includes living spaces, a kitchen, bedrooms, and bathrooms
