Leased Residential Income
For Sale
$458,000
702 Daniels Ave, Vallejo, CA 94590
Appliances are included, and the property is fully leased through Section 8 housing.
Property Size1,702 SF
Days on Market95
Property Features for 702 Daniels Ave
General Information
Standard status
Active
Size
1,702 SF
Property subtype
Investment
Building Details
Building Size
1,702 SF
Year Built
2003
Units
1
Listed By:
David Sowels
(707) 694-0221
Source:
Elliman
Added: Jun 1
Changed: Aug 31
Last Checked: Aug 31 at 2:31PM
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 David Sowels
Investment Insights
Based on property information with market context.
Built in 2003, this residential income property is fully leased through Section 8 housing. Appliances are included in the sale, providing an additional existing property feature for purchasers.
The property is located at 702 Daniels Ave in Vallejo, California. WalkScore is 41, characterized as Car-Dependent; BikeScore is 16, or Somewhat Bikeable; and TransitScore is 34, indicating Some Transit.
The property is located at 702 Daniels Ave in Vallejo, California. WalkScore is 41, characterized as Car-Dependent; BikeScore is 16, or Somewhat Bikeable; and TransitScore is 34, indicating Some Transit.
Key Highlights
- Fully leased through Section 8 housing
- Appliances included in the sale
- Constructed in 2003
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
$29,729
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
6.49%
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%
$594,580
$594.6K
Cap Rate 7%
$424,700
$424.7K
Cap Rate 9%
$330,322
$330.3K
Market Conditions
NOI Build-Up for 1,702 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
$56.8K $33.36/SF
− Vacancy
−$2.7K −$1.60/SF
EGI
$54.1K $31.76/SF
− OpEx
−$24.3K −$14.29/SF
NOI
$29.7K $17.47/SF
Area
Vallejo, CA
Vacancy
4.80%
Lease Rate
$33.36 /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%
$594,580
Cap Rate 7%
$424,700
Cap Rate 9%
$330,322
Alternative Uses
Best Use
Apartment 5plus
$424.7K
$371.6K – $495.5K
NOI $29,729 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$828.3K
$724.8K – $966.4K
NOI $57,984 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 94590, CA
39,981
Population
16,500
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
87%
High-School Grad
6.6 sq mi
ZIP Area
6,058
Density / Sq Mi
$66,957
Median Household Income
$43,383
Median Earnings
$1,768
Median Rent
$510,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Appliances are included, and the property is fully leased through Section 8 housing.
Where is this residential income property located?
The property is located at 702 Daniels Ave Vallejo, CA.
What is the asking price?
The asking price for this property is $458,000.
What are key features of this property?
This property features: Fully leased through Section 8 housing; Appliances included in the sale; Constructed in 2003
