Duplex With Two
For Sale
$397,000
831 Forrester Court, Porterville, CA 93257
Residential Income, Porterville, CA
Property Size2,184 SF
Lot Size0.21 Acres
Price / SF$181.78
Days on Market47
Property Features for 831 Forrester Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 7, Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 5, Bathroom 4, Bathroom 2, Bedroom 6
Interior features
Tile Counters
Directions
From the corner of E Putnam Ave and N Leggett St - head south on N Leggett St then East on Oak Ave. The street turns to the south and becomes Doree St, continue until Forrester Ct and turn west on Forrester Ct.
Subdivision
Porterville SE
Standard status
Active
APN
254102043000
Size
2,184 SF
Lot size
0.21 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1991
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Century 21 Select Real Estate · Century 21 Real Estate
(559) 733-9696
Listed By:
Anita Naranjo
(559) 331-5242
Added: Jul 16
Changed: Aug 27
Last Checked: Aug 31 at 2:06PM
MLS# 242901
Copyright © 2026 Tulare County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex comprises two homes on a 0.21-acre lot, with 2,184 square feet of total building area. Each residence measures 1,092 square feet and together they include six bedrooms and four bathrooms. Interior details include tile counters, while the property has a composition roof and was built in 1991.
Both homes are tenant occupied, providing existing rental income. The property is served by public water and public sewer and is located at 831 Forrester Court in Porterville, California. Property access requires 24-hour notice, and tenants should not be disturbed.
Both homes are tenant occupied, providing existing rental income. The property is served by public water and public sewer and is located at 831 Forrester Court in Porterville, California. Property access requires 24-hour notice, and tenants should not be disturbed.
Key Highlights
- Two homes on one 0.21‑acre lot
- Each home contains 1,092 square feet; total property size is 2,184 square feet
- Six bedrooms and four bathrooms across the property
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
$19,735
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
4.97%
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%
$394,700
$394.7K
Cap Rate 7%
$281,929
$281.9K
Cap Rate 9%
$219,278
$219.3K
Market Conditions
NOI Build-Up for 2,184 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
$30.1K $13.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$28.2K $12.91/SF
− OpEx
−$8.5K −$3.87/SF
NOI
$19.7K $9.04/SF
Area
Tulare County, CA
Vacancy
6.46%
Lease Rate
$13.80 /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%
$394,700
Cap Rate 7%
$281,929
Cap Rate 9%
$219,278
Alternative Uses
Best Use
Multifamily LT 5
$281.9K
$246.7K – $328.9K
NOI $19,735 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$259.1K
$226.7K – $302.3K
NOI $18,136 @ 7.0% cap · market cap 4.57%
Theoretical Best
Specialty Retail
$663.4K
$580.5K – $774.0K
NOI $46,437 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 93257, CA
79,569
Population
25,020
Households
3.2
Avg Household Size
31
Median Age
15%
College-Educated
69%
High-School Grad
378.9 sq mi
ZIP Area
210
Density / Sq Mi
$58,261
Median Household Income
$30,344
Median Earnings
$1,086
Median Rent
$276,400
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 - Tenant-occupied residences offer established rental income and support both investment and multi-generational living arrangements.
Where is this duplex located?
The property is located at 831 Forrester Court Porterville, CA.
What is the asking price?
The asking price for this property is $397,000.
What are key features of this property?
This property features: Two homes on one 0.21‑acre lot; Each home contains 1,092 square feet; total property size is 2,184 square feet; Six bedrooms and four bathrooms across the property
