Occupied Duplex with
New
For Sale
$299,900
3922 E White Avenue, Fresno, CA 93702
Multi-Family, Fresno, CA
Property Size1,532 SF
Lot Size0.18 Acres
Price / SF$195.76
Days on Market6
Property Features for 3922 E White Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3
Parking features
Garage
Fencing
Fenced
Directions
NB Cedar Ave towards Belmont Ave, turn left on Belmont Ave. Make a right on N 9th st and right on E. White Ave. Third house on the right.
Subdivision
Fresno
Standard status
Active
APN
45429403
Size
1,532 SF
Lot size
0.18 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
large backyard
laundry facility
Building Details
Floors in Building
1
Flooring type
Hardwood
Roof type
Composition
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
(888) 652-1314
Listed By:
Marie Meza · License #01772801
(559) 246-4905
Added: Sep 19
Last Checked: Sep 24 at 12:06AM
MLS# 234986
Copyright © 2026 Kings County Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This occupied duplex contains two separate residences: one offers 2 bedrooms and 1 bathroom, while the other provides 1 bedroom and 1 bathroom. The 1,532-square-foot property includes hardwood flooring, wall-furnace heating, a composition roof, and a fenced backyard. A shared 2-car garage provides parking and includes a laundry facility; the detached garage currently has burn damage.
The property is located at 3922 E White Avenue in Fresno, California, with public water and public sewer service. R3 zoning supports its multifamily residential classification. Tenant privacy is required, with showings arranged in advance.
The property is located at 3922 E White Avenue in Fresno, California, with public water and public sewer service. R3 zoning supports its multifamily residential classification. Tenant privacy is required, with showings arranged in advance.
Key Highlights
- Two‑unit duplex with a 2‑bedroom, 1‑bathroom unit and a 1‑bedroom, 1‑bathroom unit
- 1,532 square feet of property area
- R3 zoning with public water and public sewer
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
$20,066
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
6.69%
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%
$401,320
$401.3K
Cap Rate 7%
$286,657
$286.7K
Cap Rate 9%
$222,956
$223.0K
Market Conditions
NOI Build-Up for 1,532 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
$30.3K $19.80/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$28.7K $18.71/SF
− OpEx
−$8.6K −$5.61/SF
NOI
$20.1K $13.10/SF
Area
ZIP 93702
Vacancy
5.50%
Lease Rate
$19.80 /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%
$401,320
Cap Rate 7%
$286,657
Cap Rate 9%
$222,956
Alternative Uses
Best Use
Multifamily LT 5
$286.7K
$250.8K – $334.4K
NOI $20,066 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$257.4K
$225.3K – $300.4K
NOI $18,021 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$373.9K
$327.1K – $436.2K
NOI $26,170 @ 7.0% cap · market cap 8.73%
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
621
Businesses Nearby
Explore this area
Business Placement
Demographics for 93702, CA
45,741
Population
13,386
Households
3.4
Avg Household Size
29
Median Age
9%
College-Educated
57%
High-School Grad
5.2 sq mi
ZIP Area
8,796
Density / Sq Mi
$44,849
Median Household Income
$27,486
Median Earnings
$1,110
Median Rent
$211,900
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 - R3-zoned duplex with separate one- and two-bedroom units, a fenced yard, and public utilities.
Where is this duplex located?
The property is located at 3922 E White Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom, 1‑bathroom unit and a 1‑bedroom, 1‑bathroom unit; 1,532 square feet of property area; R3 zoning with public water and public sewer
