Renovated Duplex in Oak
For Sale
$674,000
3624 34th Street, Sacramento, CA 95817
Stylish, renovated duplex in a dynamic Sacramento neighborhood with development potential.
Property Size2,013 SF
Price / SF$334.82
Days on Market380
Property Features for 3624 34th Street
General Information
Standard status
Active
Size
2,013 SF
Property subtype
Multi-Family
Amenities
Central
Ceiling Fan(s)
Free Standing Gas Range
Dishwasher
Microwave
Disposal
Free Standing Electric Oven
City, Sewer In & Connected, Composition
Building Details
Building Size
2,013 SF
Year Built
1922
Stories
2
Listing Agency:
Grounded R.E.
(941) 400-6237
Listed By:
Samuel Allen · License #3230320
Source:
Kw
Added: Aug 15, 2025
Changed: Aug 14
Last Checked: Aug 28 at 6:06PM
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 Grounded R.E.
Investment Insights
Based on property information with market context.
Located in Oak Park, this duplex offers both residential and investment opportunities. The upstairs unit has been substantially renovated with heated bathroom floors, designer tile, and a modern kitchen featuring blue cabinetry. The original wood built-in has been restored. The layout allows for living in one unit while renting the other, or holding the entire property as a rental investment. The large lot allows for future development, such as additional units, an ADU, or an outdoor retreat. The property is located near coffee shops, local restaurants, and neighborhood parks. This duplex offers style, substance, and opportunity.
Key Highlights
- Renovated upstairs unit with HEATED BATHROOM FLOORS, designer tile, and modern kitchen.
- Flexible layout suitable for owner‑occupancy with rental income or full rental investment.
- Large lot with potential for future development (additional units, ADU, or outdoor retreat).
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
$34,355
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
5.10%
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%
$687,100
$687.1K
Cap Rate 7%
$490,786
$490.8K
Cap Rate 9%
$381,722
$381.7K
Market Conditions
NOI Build-Up for 2,013 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
$51.9K $25.80/SF
− Vacancy
−$2.9K −$1.42/SF
EGI
$49.1K $24.38/SF
− OpEx
−$14.7K −$7.31/SF
NOI
$34.4K $17.07/SF
Area
Sacramento, CA
Vacancy
5.50%
Lease Rate
$25.80 /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%
$687,100
Cap Rate 7%
$490,786
Cap Rate 9%
$381,722
Alternative Uses
Best Use
Multifamily LT 5
$490.8K
$429.4K – $572.6K
NOI $34,355 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$451.7K
$395.3K – $527.0K
NOI $31,620 @ 7.0% cap · market cap 4.69%
Theoretical Best
Specialty Retail
$540.9K
$473.3K – $631.1K
NOI $37,865 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 95817, CA
14,270
Population
7,014
Households
2
Avg Household Size
35
Median Age
48%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,204
Density / Sq Mi
$64,621
Median Household Income
$46,117
Median Earnings
$1,511
Median Rent
$500,700
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 - Stylish, renovated duplex in a dynamic Sacramento neighborhood with development potential.
Where is this duplex located?
The property is located at 3624 34th Street Sacramento, CA.
What is the asking price?
The asking price for this property is $674,000.
What are key features of this property?
This property features: Renovated upstairs unit with HEATED BATHROOM FLOORS, designer tile, and modern kitchen.; Flexible layout suitable for owner‑occupancy with rental income or full rental investment.; Large lot with potential for future development (additional units, ADU, or outdoor retreat).
