Residential Income
For Sale
$150,000
51 Michael Dr, Petaluma, CA 94954
For sale residential income property on Michael Drive in Sonoma County, with a listed size of 1,320.
Property Size1,320 SF
Price / SF$113.64
Days on Market39
Property Features for 51 Michael Dr
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Manufactured In Park
Listing Agency:
eXp Realty of California, Inc
(707) 318-4165
Listed By:
Ed Heinz
(707) 318-4165
Source:
Exprealty
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 29 at 1:43PM
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 eXp Realty of California, Inc
Investment Insights
Based on property information with market context.
This for-sale residential income property is located at 51 Michael Drive in Petaluma, California, in Sonoma County. The property size is listed as 1,320.
Per the provided directions, access is described as “McDowell to Youngstown.” No additional building details, unit configuration, or site improvements were included in the information provided.
Interested parties should confirm all property specifics directly, including the current configuration and any income-producing components, prior to submitting an offer.
Per the provided directions, access is described as “McDowell to Youngstown.” No additional building details, unit configuration, or site improvements were included in the information provided.
Interested parties should confirm all property specifics directly, including the current configuration and any income-producing components, prior to submitting an offer.
Key Highlights
- Residential income property on Michael Drive in Sonoma County
- 1,320 listed size
- Central heating with gas water heater
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
$9,785
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
6.52%
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%
$195,700
$195.7K
Cap Rate 7%
$139,786
$139.8K
Cap Rate 9%
$108,722
$108.7K
Market Conditions
NOI Build-Up for 1,320 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
$19.0K $14.40/SF
− Vacancy
−$1.2K −$0.92/SF
EGI
$17.8K $13.48/SF
− OpEx
−$8.0K −$6.07/SF
NOI
$9.8K $7.41/SF
Area
Sonoma County, CA
Vacancy
6.40%
Lease Rate
$14.40 /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%
$195,700
Cap Rate 7%
$139,786
Cap Rate 9%
$108,722
Alternative Uses
Best Use
Apartment 5plus
$139.8K
$122.3K – $163.1K
NOI $9,785 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$357.7K
$313.0K – $417.3K
NOI $25,038 @ 7.0% cap · market cap 16.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Explore this area
Business Placement
Demographics for 94954, CA
38,301
Population
15,147
Households
2.5
Avg Household Size
43
Median Age
37%
College-Educated
92%
High-School Grad
62.2 sq mi
ZIP Area
616
Density / Sq Mi
$107,564
Median Household Income
$58,362
Median Earnings
$2,405
Median Rent
$790,100
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?
Mobile home & RV park - For sale residential income property on Michael Drive in Sonoma County, with a listed size of 1,320.
Where is this mobile home & rv park located?
The property is located at 51 Michael Dr Petaluma, CA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Residential income property on Michael Drive in Sonoma County; 1,320 listed size; Central heating with gas water heater
