Two-Unit Duplex with Attached
New
For Sale
$999,000
4131 Howe ST, Oakland, CA 94611
Residential Income (2-4 units), OAKLAND, CA
Property Size2,272 SF
Lot Size0.09 Acres
Price / SF$439.70
Days on Market2
Property Features for 4131 Howe ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
4
Rooms
Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3
Parking features
Garage - Attached
Standard status
Active
Size
2,272 SF
Lot size
0.09 Acres
Utilities
Heating system
Forced Air
Building Details
Year built
1940
Number of units
2
Roof type
Composition
Listing Agency:
KW Bay Area Estates · Keller Williams Realty
(408) 560-9000
Listed By:
Spencer Yuan · License #01522071
(408) 892-1720
Added: Sep 24
Last Checked: Sep 25 at 5:06AM
MLS# ML82062482
Copyright © 2026 MLS Listings, Inc. 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.
Built in 1940, this 2,272-square-foot duplex contains two residences, one on each level. Each has two bedrooms, one bathroom, and a bonus room or den, along with washer and dryer hookups. The attached two-car garage provides one space for each unit. The property is being sold as-is with tenants remaining in place, and is zoned R2.
The 0.0918-acre property is on Howe Street in Oakland. Piedmont Avenue shops and restaurants, Kaiser Permanente, Temescal, Rockridge, Highway 580, and BART are identified nearby.
The 0.0918-acre property is on Howe Street in Oakland. Piedmont Avenue shops and restaurants, Kaiser Permanente, Temescal, Rockridge, Highway 580, and BART are identified nearby.
Key Highlights
- 2,272‑square‑foot duplex with two residences
- Each unit has 2 bedrooms, 1 bathroom, and a bonus room or den
- Attached 2‑car garage, with one space for each unit
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
$41,920
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
4.20%
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%
$838,400
$838.4K
Cap Rate 7%
$598,857
$598.9K
Cap Rate 9%
$465,778
$465.8K
Market Conditions
NOI Build-Up for 2,272 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
$62.7K $27.60/SF
− Vacancy
−$2.8K −$1.24/SF
EGI
$59.9K $26.36/SF
− OpEx
−$18.0K −$7.91/SF
NOI
$41.9K $18.45/SF
Area
ZIP 94611
Vacancy
4.50%
Lease Rate
$27.60 /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%
$838,400
Cap Rate 7%
$598,857
Cap Rate 9%
$465,778
Alternative Uses
Best Use
Multifamily LT 5
$598.9K
$524.0K – $698.7K
NOI $41,920 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$554.1K
$484.8K – $646.5K
NOI $38,787 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$957.1K
$837.5K – $1.12M
NOI $66,997 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,864
Businesses Nearby
Explore this area
Business Placement
Demographics for 94611, CA
40,262
Population
19,014
Households
2.1
Avg Household Size
44
Median Age
78%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,515
Density / Sq Mi
$176,517
Median Household Income
$105,393
Median Earnings
$2,274
Median Rent
$1,485,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences offer two bedrooms, one bathroom, a den, laundry hookups, and a dedicated garage space.
Where is this duplex located?
The property is located at 4131 Howe ST Oakland, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2,272‑square‑foot duplex with two residences; Each unit has 2 bedrooms, 1 bathroom, and a bonus room or den; Attached 2‑car garage, with one space for each unit
