Duplex with Separate
New
For Sale
$355,000
44750 Harmon Drive, Laytonville, CA 95454
A remodeled primary residence and a tenant-occupied apartment offer two distinct living spaces on a commercially zoned property.
Property Size1,144 SF
Price / SF$310.31
Days on Market2
Property Features for 44750 Harmon Drive
General Information
Standard status
Active
Size
1,144 SF
Property subtype
Land
Building Details
Year Built
1943
Listing Agency:
Sudha Schlesinger, Engel & Volkers Healdsburg
Listed By:
The Jamison Team
(408) 465-4899
Source:
Tuscanaproperties
Added: Sep 26
Last Checked: Sep 26 at 2:45PM
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 Sudha Schlesinger, Engel & Volkers Healdsburg
Investment Insights
Based on property information with market context.
This duplex pairs a 624-square-foot, one-bedroom, one-bath main home with an approximately 520-square-foot, one-bedroom apartment. The main residence has updated windows, flooring, paint, roofing, an on-demand water heater, and mini-split heating and air conditioning. An extra room adds flexible interior space. The apartment has its own kitchen and full bath, along with a propane wall heater, refreshed paint and flooring, and a new roof; it is currently occupied by a tenant. A porch and deck serve the main home, and the apartment has a separate deck. The parcel is approximately one-third of an acre, with mature plantings, a storage shed, and off-street parking for two cars. City water, septic, propane, and PG&E power serve the property. Commercial zoning and walking access to schools, healthcare, shopping, and everyday services round out the offering.
Key Highlights
- Two living spaces: a 624‑square‑foot home and an approximately 520‑square‑foot apartment
- Main home includes one bedroom, one bath, and an additional flexible‑use room
- Apartment has its own kitchen and full bathroom and is currently tenant occupied
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
$10,579
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
2.98%
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%
$211,580
$211.6K
Cap Rate 7%
$151,129
$151.1K
Cap Rate 9%
$117,544
$117.5K
Market Conditions
NOI Build-Up for 1,144 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
$15.8K $13.80/SF
− Vacancy
−$674 −$0.59/SF
EGI
$15.1K $13.21/SF
− OpEx
−$4.5K −$3.96/SF
NOI
$10.6K $9.25/SF
Area
Mendocino County, CA
Vacancy
4.27%
Lease Rate
$13.80 /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%
$211,580
Cap Rate 7%
$151,129
Cap Rate 9%
$117,544
Alternative Uses
Best Use
Multifamily LT 5
$151.1K
$132.2K – $176.3K
NOI $10,579 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$139.1K
$121.7K – $162.2K
NOI $9,734 @ 7.0% cap · market cap 2.74%
Theoretical Best
Flex RnD
$427.7K
$374.2K – $499.0K
NOI $29,939 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Explore this area
Business Placement
Demographics for 95454, CA
2,796
Population
1,039
Households
2.7
Avg Household Size
46
Median Age
6%
College-Educated
77%
High-School Grad
306.6 sq mi
ZIP Area
9
Density / Sq Mi
$40,053
Median Household Income
$33,531
Median Earnings
$750
Median Rent
$385,000
Median Home Value
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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 - A remodeled primary residence and a tenant-occupied apartment offer two distinct living spaces on a commercially zoned property.
Where is this duplex located?
The property is located at 44750 Harmon Drive Laytonville, CA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Two living spaces: a 624‑square‑foot home and an approximately 520‑square‑foot apartment; Main home includes one bedroom, one bath, and an additional flexible‑use room; Apartment has its own kitchen and full bathroom and is currently tenant occupied
