Building Details

Year Built 1940

Listing Agency: Sherman & Boone Realtors n***@shermanandboone.com Show Phone

Listed By: Nick Torres · License #01719985 Show Phone

Source: Exitrealty

Added: Aug 4 Changed: Aug 9 Last Checked: Aug 10 at 5:28AM

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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 Sherman & Boone Realtors

Investment Insights

Based on property information with market context.

This duplex includes two residential units, each arranged with one bedroom and one bathroom. The building contains 1,058 square feet and was constructed in 1940, occupying a 7,724-square-foot parcel in Freedom, California.

Additional properties at 2001/2003 Freedom Boulevard and 2007/2007B Freedom Boulevard are also available for purchase. Their availability creates the potential for a combined acquisition, assemblage, or future redevelopment, as described in the property information.

Key Highlights

• Two one‑bedroom, one‑bath units
• 1,058‑square‑foot duplex building
• 7,724‑square‑foot parcel

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

$29,497

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

4.07%

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%

$589,940 $589.9K

Cap Rate 7%

$421,386 $421.4K

Cap Rate 9%

$327,744 $327.7K

Market Conditions

NOI Build-Up for 1,058 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

$43.2K $40.80/SF

− Vacancy

−$1.0K −$0.97/SF

EGI

$42.1K $39.83/SF

− OpEx

−$12.6K −$11.95/SF

NOI

$29.5K $27.88/SF

Area

Santa Cruz County, CA

Vacancy

2.38%

Lease Rate

$40.80 /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%

$589,940

Cap Rate 7%

$421,386

Cap Rate 9%

$327,744

Alternative Uses

Best Use

Multifamily LT 5

$421.4K

$368.7K – $491.6K (±1% cap)

NOI $29,497 @ 7.0% cap · market cap 4.07%

Second Best

Apartment 5plus

$389.0K

$340.4K – $453.9K (±1% cap)

NOI $27,233 @ 7.0% cap · market cap 3.76%

Theoretical Best

Retail

$605.0K

$529.4K – $705.8K (±1% cap)

NOI $42,348 @ 7.0% cap · market cap 5.84%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Spa & Massage Center Parking Lot & Garage Hair Salon Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

937

Businesses Nearby

Explore this area Business Placement

Demographics for 95019, CA

6,603

Population

1,899

Households

3.5

Avg Household Size

33

Median Age

15%

College-Educated

60%

High-School Grad

1.1 sq mi

ZIP Area

6,003

Density / Sq Mi

$68,314

Median Household Income

$31,250

Median Earnings

$1,468

Median Rent

$678,200

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - The property contains two one-bedroom, one-bath units in a duplex configuration.

Where is this duplex located?

The property is located at 4 Roache Road Freedom, CA.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: Two one‑bedroom, one‑bath units; 1,058‑square‑foot duplex building; 7,724‑square‑foot parcel