Duplex with Detached Four-Car
For Sale
$999,000
Pending
615 11th Street, Davis, CA 95616
Two separate residences provide a flexible layout for rental or owner-occupant use, with private alley access to the garage.
Property Size2,937 SF
Days on Market212
Property Features for 615 11th Street
General Information
Standard status
Pending
Size
2,937 SF
Total Parking Spaces
4
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Parking per Unit
2
Building Details
Year Built
1966
Listing Agency:
Windermere Signature Properties Davis
(530) 220-4183
Listed By:
Laura L. Murray · License #01437243
(530) 220-4183
Source:
Exitrealty
Added: Jan 31
Changed: Aug 30
Last Checked: Aug 30 at 4:01PM
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 Davis
Investment Insights
Based on property information with market context.
This duplex contains two residences, each with 3 bedrooms and 1.5 baths. Private alley access leads to a detached four-car garage, with two spaces allocated to each unit. The property was built in 1966, received a new roof in 2024, and has brand-new dual-pane windows installed on the 615 side on 4/28/26.
Located at 615 11th Street in Davis, the property is minutes from downtown Davis and the UC Davis campus. The detached garage may offer an ADU conversion opportunity, subject to buyer verification with the City of Davis.
Located at 615 11th Street in Davis, the property is minutes from downtown Davis and the UC Davis campus. The detached garage may offer an ADU conversion opportunity, subject to buyer verification with the City of Davis.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 1.5 baths per side
- Detached four‑car garage with two spaces per unit
- Private alley access to the garage
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
$41,836
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
4.19%
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%
$836,720
$836.7K
Cap Rate 7%
$597,657
$597.7K
Cap Rate 9%
$464,844
$464.8K
Market Conditions
NOI Build-Up for 2,937 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
$63.4K $21.60/SF
− Vacancy
−$3.7K −$1.25/SF
EGI
$59.8K $20.35/SF
− OpEx
−$17.9K −$6.10/SF
NOI
$41.8K $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%
$836,720
Cap Rate 7%
$597,657
Cap Rate 9%
$464,844
Alternative Uses
Best Use
Multifamily LT 5
$597.7K
$523.0K – $697.3K
NOI $41,836 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$546.1K
$477.8K – $637.1K
NOI $38,224 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$792.5K
$693.4K – $924.6K
NOI $55,474 @ 7.0% cap · market cap 5.55%
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
918
Businesses Nearby
Explore this area
Business Placement
Demographics for 95616, CA
51,003
Population
19,944
Households
2.6
Avg Household Size
27
Median Age
75%
College-Educated
97%
High-School Grad
29.9 sq mi
ZIP Area
1,706
Density / Sq Mi
$74,758
Median Household Income
$25,109
Median Earnings
$1,911
Median Rent
$856,900
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 - Two separate residences provide a flexible layout for rental or owner-occupant use, with private alley access to the garage.
Where is this duplex located?
The property is located at 615 11th Street Davis, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 1.5 baths per side; Detached four‑car garage with two spaces per unit; Private alley access to the garage
