Newer Duplex with Solar
For Sale
$695,000
728 W Vassar N Avenue, Fresno, CA 93705
Two single-story residences combine modern interiors, private yards, separate utilities, and attached garages with EV charging.
Property Size2,452 SF
Price / SF$283.44
Days on Market14
Property Features for 728 W Vassar N Avenue
General Information
Standard status
Active
Size
2,452 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Utilities to Site
Yes
Amenities
EV fast chargers
solar system
in-unit washer and dryer
private backyards
Building Details
Year Built
2022
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Better Homes & Garden Real Est
(559) 288-7178
Listed By:
Keyvan Abedi · License #DRE #01766804
(559) 288-7178
Source:
Exitrealty
Added: Aug 1
Changed: Aug 8
Last Checked: Aug 14 at 5:04AM
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 Better Homes & Garden Real Est
Investment Insights
Based on property information with market context.
Built in 2022, this duplex contains two single-story residences with matching layouts. Each unit offers 3 bedrooms, 2 bathrooms, approximately 1,226 square feet, an open kitchen and living arrangement, contemporary finishes, a refrigerator, gas range and oven, and an in-unit washer and dryer. Finished one-car garages include EV fast chargers, while private backyards provide additional outdoor space. Each residence also has its own fully paid 10-panel solar system, separate PG&E and water meters, and no HOA. One unit is leased and the other is vacant, allowing the next owner to retain the existing tenancy or occupy the available residence. The property is located near schools, shopping, dining, medical facilities, and major commuter routes in Fresno, California.
Key Highlights
- Duplex built in 2022 with two single‑story units
- Each unit includes 3 bedrooms, 2 bathrooms, and approximately 1,226 square feet
- Fully paid 10‑panel solar system assigned to each residence
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
$32,116
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
4.62%
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%
$642,320
$642.3K
Cap Rate 7%
$458,800
$458.8K
Cap Rate 9%
$356,844
$356.8K
Market Conditions
NOI Build-Up for 2,452 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
$48.5K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$45.9K $18.71/SF
− OpEx
−$13.8K −$5.61/SF
NOI
$32.1K $13.10/SF
Area
Fresno, CA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$642,320
Cap Rate 7%
$458,800
Cap Rate 9%
$356,844
Alternative Uses
Best Use
Multifamily LT 5
$458.8K
$401.5K – $535.3K
NOI $32,116 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$401.9K
$351.7K – $468.9K
NOI $28,134 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$722.6K
$632.3K – $843.0K
NOI $50,580 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 93705, CA
38,125
Population
13,408
Households
2.8
Avg Household Size
31
Median Age
16%
College-Educated
75%
High-School Grad
4.9 sq mi
ZIP Area
7,781
Density / Sq Mi
$55,152
Median Household Income
$35,979
Median Earnings
$1,254
Median Rent
$281,300
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 single-story residences combine modern interiors, private yards, separate utilities, and attached garages with EV charging.
Where is this duplex located?
The property is located at 728 W Vassar N Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Duplex built in 2022 with two single‑story units; Each unit includes 3 bedrooms, 2 bathrooms, and approximately 1,226 square feet; Fully paid 10‑panel solar system assigned to each residence
