Two-Unit Duplex with
New
For Sale
$459,000
85 Royale Avenue, Lakeport, CA 95453
Occupied duplex with private garages and driveway parking for both residences.
Property Size1,606 SF
Price / SF$285.80
Days on Market2
Property Features for 85 Royale Avenue
General Information
Standard status
Active
Size
1,606 SF
Property subtype
Multi-Family
Building Details
Year Built
2004
Listing Agency:
RE/MAX GOLD
(707) 262-5700
Listed By:
Peggy R Butcher · License #G406011
Source:
Showcaseproperties
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 1:18PM
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 RE/MAX GOLD
Investment Insights
Based on property information with market context.
Built in 2004, this 1,606-square-foot duplex contains two separate residences, each arranged with two bedrooms, one bathroom, a one-car garage, and additional driveway parking. The property offers a straightforward residential income configuration with both units currently occupied by longtime tenants.
The duplex is located near shopping, restaurants, and the lake, placing everyday destinations and recreation within the surrounding area. Its established occupancy and clearly defined two-unit layout provide a practical format for an owner seeking a residential income property.
The duplex is located near shopping, restaurants, and the lake, placing everyday destinations and recreation within the surrounding area. Its established occupancy and clearly defined two-unit layout provide a practical format for an owner seeking a residential income property.
Key Highlights
- Two‑unit duplex with 1,606 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- One‑car garage and additional driveway parking for each unit
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
$13,749
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
3.00%
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%
$274,980
$275.0K
Cap Rate 7%
$196,414
$196.4K
Cap Rate 9%
$152,767
$152.8K
Market Conditions
NOI Build-Up for 1,606 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
$20.6K $12.84/SF
− Vacancy
−$979 −$0.61/SF
EGI
$19.6K $12.23/SF
− OpEx
−$5.9K −$3.67/SF
NOI
$13.7K $8.56/SF
Area
Lake County, CA
Vacancy
4.75%
Lease Rate
$12.84 /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%
$274,980
Cap Rate 7%
$196,414
Cap Rate 9%
$152,767
Alternative Uses
Best Use
Multifamily LT 5
$196.4K
$171.9K – $229.2K
NOI $13,749 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$181.3K
$158.6K – $211.5K
NOI $12,688 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$644.6K
$564.0K – $752.0K
NOI $45,121 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 95453, CA
11,978
Population
5,488
Households
2.2
Avg Household Size
48
Median Age
24%
College-Educated
93%
High-School Grad
87.0 sq mi
ZIP Area
138
Density / Sq Mi
$66,775
Median Household Income
$44,929
Median Earnings
$1,091
Median Rent
$371,100
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?
Duplex - Occupied duplex with private garages and driveway parking for both residences.
Where is this duplex located?
The property is located at 85 Royale Avenue Lakeport, CA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,606 square feet; Each unit includes 2 bedrooms and 1 bathroom; One‑car garage and additional driveway parking for each unit
