Triplex with Owner
For Sale
$495,000
409 N D Street, Madera, CA 93638
Three-unit residential property with a larger front residence and two separate rear apartments.
Property Size1,561 SF
Price / SF$317.10
Days on Market12
Property Features for 409 N D Street
General Information
Standard status
Active
Size
1,561 SF
Property subtype
Residential Income
Listing Agency:
Valley Oak Realty
Listed By:
David E Borchardt · License #00881001
(559) 287-9985
Source:
Exprealty
Added: Aug 22
Changed: Sep 1
Last Checked: Sep 1 at 8:31PM
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 Valley Oak Realty
Investment Insights
Based on property information with market context.
This triplex includes a front residence with four bedrooms and 1.5 bathrooms, along with two rear apartments. Each rear unit contains two bedrooms and one bathroom. The owner currently occupies the front residence, while the rear units are tenant-occupied.
The property is located at 409 N D Street in Madera, California. Water service is paid by the owner, and the tenants cover their own PGE expenses. The sale is offered in as-is condition, with no repairs to be completed by the seller. FHA financing is not accepted; cash or conventional financing is required.
The property is located at 409 N D Street in Madera, California. Water service is paid by the owner, and the tenants cover their own PGE expenses. The sale is offered in as-is condition, with no repairs to be completed by the seller. FHA financing is not accepted; cash or conventional financing is required.
Key Highlights
- Three‑unit configuration with one front residence and two rear apartments
- Front home offers 4 bedrooms and 1.5 bathrooms
- Each rear apartment includes 2 bedrooms and 1 bathroom
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
$17,205
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
3.48%
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%
$344,100
$344.1K
Cap Rate 7%
$245,786
$245.8K
Cap Rate 9%
$191,167
$191.2K
Market Conditions
NOI Build-Up for 1,561 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
$26.6K $17.04/SF
− Vacancy
−$2.0K −$1.30/SF
EGI
$24.6K $15.74/SF
− OpEx
−$7.4K −$4.72/SF
NOI
$17.2K $11.02/SF
Area
Madera County, CA
Vacancy
7.60%
Lease Rate
$17.04 /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%
$344,100
Cap Rate 7%
$245,786
Cap Rate 9%
$191,167
Alternative Uses
Best Use
Multifamily LT 5
$245.8K
$215.1K – $286.8K
NOI $17,205 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$227.5K
$199.1K – $265.4K
NOI $15,924 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$604.1K
$528.6K – $704.8K
NOI $42,287 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 93638, CA
51,106
Population
12,821
Households
4
Avg Household Size
29
Median Age
8%
College-Educated
56%
High-School Grad
90.3 sq mi
ZIP Area
566
Density / Sq Mi
$60,031
Median Household Income
$28,544
Median Earnings
$1,218
Median Rent
$291,500
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?
Triplex - Three-unit residential property with a larger front residence and two separate rear apartments.
Where is this triplex located?
The property is located at 409 N D Street Madera, CA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Three‑unit configuration with one front residence and two rear apartments; Front home offers 4 bedrooms and 1.5 bathrooms; Each rear apartment includes 2 bedrooms and 1 bathroom
