Fully Rented Two-Unit
New
For Sale
$920,000
4438 Yukon Drive, Santa Rosa, CA 95409
Santa Rosa, CA
Property Size2,080 SF
Price / SF$442.31
Days on Market2
Property Features for 4438 Yukon Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Standard status
Active
Size
2,080 SF
Building Details
Year built
1962
Listing Agency:
Engel & Volkers Sonoma · Engel & Völkers
(707) 708-3087
Listed By:
Ryan J Styles · License #01276948
(707) 548-1689
Added: Sep 6
Last Checked: Sep 7 at 1:06PM
MLS# 326049427
Copyright © 2026 Engel & Völkers. 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.
Located at 4438 Yukon Drive, this 2,080-square-foot duplex contains two residential units and was built in 1962. Each unit is approximately 950 square feet with three bedrooms, one full bath, one half bath, and a one-car garage. Both units are currently rented, providing an occupied residential income property in Santa Rosa’s Rincon Valley area.
The property is near local schools and less than a mile from Oliver’s Market at Montecito Center. The adjacent duplex at 4432-4434 Yukon Drive is also available for purchase, creating the potential to acquire two contiguous parcels totaling approximately 23,400+ square feet of land. The source information also identifies Santa Rosa zoning considerations involving SB 9 lot splits, ADU allowances, and Missing Middle Housing policies; any future development would remain subject to applicable approvals.
The property is near local schools and less than a mile from Oliver’s Market at Montecito Center. The adjacent duplex at 4432-4434 Yukon Drive is also available for purchase, creating the potential to acquire two contiguous parcels totaling approximately 23,400+ square feet of land. The source information also identifies Santa Rosa zoning considerations involving SB 9 lot splits, ADU allowances, and Missing Middle Housing policies; any future development would remain subject to applicable approvals.
Key Highlights
- Fully rented duplex with 2 residential units
- 2,080 square feet of building area
- Each unit is approximately 950 square feet with 3 bedrooms
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
$40,452
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
4.40%
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%
$809,040
$809.0K
Cap Rate 7%
$577,886
$577.9K
Cap Rate 9%
$449,467
$449.5K
Market Conditions
NOI Build-Up for 2,080 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
$61.2K $29.40/SF
− Vacancy
−$3.4K −$1.62/SF
EGI
$57.8K $27.78/SF
− OpEx
−$17.3K −$8.33/SF
NOI
$40.5K $19.45/SF
Area
Santa Rosa, CA
Vacancy
5.50%
Lease Rate
$29.40 /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%
$809,040
Cap Rate 7%
$577,886
Cap Rate 9%
$449,467
Alternative Uses
Best Use
Multifamily LT 5
$577.9K
$505.7K – $674.2K
NOI $40,452 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$519.0K
$454.2K – $605.5K
NOI $36,332 @ 7.0% cap · market cap 3.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 95409, CA
27,741
Population
12,499
Households
2.2
Avg Household Size
53
Median Age
50%
College-Educated
95%
High-School Grad
35.0 sq mi
ZIP Area
793
Density / Sq Mi
$105,736
Median Household Income
$59,003
Median Earnings
$2,346
Median Rent
$807,800
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 - Two leased residential units offer three-bedroom layouts, private garages, and an established Rincon Valley location near schools and shopping.
Where is this duplex located?
The property is located at 4438 Yukon Drive Santa Rosa, CA.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: Fully rented duplex with 2 residential units; 2,080 square feet of building area; Each unit is approximately 950 square feet with 3 bedrooms
