Remodeled Duplex with Private
For Sale
$1,098,000
Pending
4935 Cowell Boulevard, Davis, CA 95618
Updated two-unit property on a corner lot with individual garages, covered patios, laundry areas, and storage rooms.
Property Size2,320 SF
Days on Market84
Property Features for 4935 Cowell Boulevard
General Information
Standard status
Pending
Size
2,320 SF
Total Parking Spaces
4
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Amenities
laundry area
storage rooms
covered patios
Building Details
Year Built
1966
Listing Agency:
Bella Vie Real Estate
(530) 662-7000
Listed By:
Robin Ward · License #01107391
(530) 662-7000
Source:
Exitrealty
Added: Jun 10
Changed: Aug 30
Last Checked: Aug 31 at 4:00PM
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 Bella Vie Real Estate
Investment Insights
Based on property information with market context.
This 2,320-square-foot duplex, built in 1966, has been comprehensively updated across both residences. Improvements include quartz countertops, luxury vinyl plank flooring, renovated bathrooms, and refreshed interior finishes. The two homes connect at the garages while maintaining separate settings. One residence includes a primary suite with an en suite bathroom and tiled walk-in shower, plus a second bedroom and hallway bathroom. The other offers two sizable bedrooms and one full bathroom.
Each unit has a private two-car garage with epoxy flooring, a laundry area equipped with a washer and dryer, and a dedicated storage room. The corner-lot property also provides covered patios and substantial outdoor space. Its South Davis setting places the duplex near parks, schools, shopping, and transportation. The City of Davis has indicated that additional ADUs may be possible.
Each unit has a private two-car garage with epoxy flooring, a laundry area equipped with a washer and dryer, and a dedicated storage room. The corner-lot property also provides covered patios and substantial outdoor space. Its South Davis setting places the duplex near parks, schools, shopping, and transportation. The City of Davis has indicated that additional ADUs may be possible.
Key Highlights
- 2,320‑square‑foot duplex on a corner lot
- Both units have private two‑car garages with epoxy floors
- One unit offers a primary suite with an en suite bathroom and tiled walk‑in shower
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
$33,047
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
3.01%
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%
$660,940
$660.9K
Cap Rate 7%
$472,100
$472.1K
Cap Rate 9%
$367,189
$367.2K
Market Conditions
NOI Build-Up for 2,320 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
$50.1K $21.60/SF
− Vacancy
−$2.9K −$1.25/SF
EGI
$47.2K $20.35/SF
− OpEx
−$14.2K −$6.10/SF
NOI
$33.0K $14.24/SF
Area
Yolo County, CA
Vacancy
5.79%
Lease Rate
$21.60 /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%
$660,940
Cap Rate 7%
$472,100
Cap Rate 9%
$367,189
Alternative Uses
Best Use
Multifamily LT 5
$472.1K
$413.1K – $550.8K
NOI $33,047 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$431.3K
$377.4K – $503.2K
NOI $30,194 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$626.0K
$547.8K – $730.3K
NOI $43,820 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 95618, CA
27,472
Population
10,898
Households
2.5
Avg Household Size
33
Median Age
72%
College-Educated
95%
High-School Grad
32.1 sq mi
ZIP Area
856
Density / Sq Mi
$112,454
Median Household Income
$51,999
Median Earnings
$2,237
Median Rent
$839,900
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 - Updated two-unit property on a corner lot with individual garages, covered patios, laundry areas, and storage rooms.
Where is this duplex located?
The property is located at 4935 Cowell Boulevard Davis, CA.
What is the asking price?
The asking price for this property is $1,098,000.
What are key features of this property?
This property features: 2,320‑square‑foot duplex on a corner lot; Both units have private two‑car garages with epoxy floors; One unit offers a primary suite with an en suite bathroom and tiled walk‑in shower
