Residential Income Property with Covered
For Sale
$387,700
4740 Whitney Avenue, Carmichael, CA 95608
Half-plex residence with updated interiors, outdoor storage, and convenient access to schools, parks, shopping, and restaurants.
Property Size1,488 SF
Price / SF$260.55
Days on Market94
Property Features for 4740 Whitney Avenue
General Information
Standard status
Active
Size
1,488 SF
Total Parking Spaces
3
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1.5BA
Multifamily Units
1
Amenities
covered patio
landscaped planter beds with automatic irrigation
storage shed
new washer, dryer
new refrigerator
central A/C
Building Details
Year Built
1974
Listing Agency:
Windermere Signature Properties Fair Oaks
(813) 955-6528
Listed By:
Yenny Gonzalez · License #02253947
(813) 955-6528
Source:
Exitrealty
Added: May 29
Changed: Aug 29
Last Checked: Aug 29 at 6:58PM
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 Windermere Signature Properties Fair Oaks
Investment Insights
Based on property information with market context.
This 1,488-square-foot half-plex residence in Carmichael was built in 1974 and includes three bedrooms, 1.5 bathrooms, and high ceilings in the living room. The interior receives abundant natural light and features a kitchen with granite countertops and substantial storage. Updated light fixtures, central A/C, and newer washer, dryer, and refrigerator add practical functionality. A home warranty is also included for appliances.
Outdoor improvements include a covered patio, three landscaped planter beds with automatic irrigation, three parking spaces, and a generously sized storage shed. The property is located at 4740 Whitney Avenue, within walking distance of a middle school and near a park, shopping centers, and restaurants. There is no HOA, and the roof was recently inspected with a report available.
Outdoor improvements include a covered patio, three landscaped planter beds with automatic irrigation, three parking spaces, and a generously sized storage shed. The property is located at 4740 Whitney Avenue, within walking distance of a middle school and near a park, shopping centers, and restaurants. There is no HOA, and the roof was recently inspected with a report available.
Key Highlights
- 3‑bedroom, 1.5‑bath half‑plex residence
- 1,488 square feet; built in 1974
- Covered patio, storage shed, and three parking spaces
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
$19,862
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
5.12%
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%
$397,240
$397.2K
Cap Rate 7%
$283,743
$283.7K
Cap Rate 9%
$220,689
$220.7K
Market Conditions
NOI Build-Up for 1,488 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
$38.7K $26.04/SF
− Vacancy
−$2.6K −$1.77/SF
EGI
$36.1K $24.27/SF
− OpEx
−$16.3K −$10.92/SF
NOI
$19.9K $13.35/SF
Area
Sacramento County, CA
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$397,240
Cap Rate 7%
$283,743
Cap Rate 9%
$220,689
Alternative Uses
Best Use
Apartment 5plus
$283.7K
$248.3K – $331.0K
NOI $19,862 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$396.4K
$346.9K – $462.5K
NOI $27,749 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 95608, CA
65,367
Population
27,312
Households
2.4
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
13.2 sq mi
ZIP Area
4,952
Density / Sq Mi
$83,638
Median Household Income
$45,625
Median Earnings
$1,549
Median Rent
$565,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Half-plex residence with updated interiors, outdoor storage, and convenient access to schools, parks, shopping, and restaurants.
Where is this residential income property located?
The property is located at 4740 Whitney Avenue Carmichael, CA.
What is the asking price?
The asking price for this property is $387,700.
What are key features of this property?
This property features: 3‑bedroom, 1.5‑bath half‑plex residence; 1,488 square feet; built in 1974; Covered patio, storage shed, and three parking spaces
