Two-Home Duplex
For Sale
$275,000
907 Lexington St, Delano, CA 93215
Separate residences offer distinct layouts, indoor laundry, alley access, driveway parking, and a carport.
Property Size768 SF
Price / SF$358.07
Days on Market13
Property Features for 907 Lexington St
General Information
Standard status
Active
Size
768 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
indoor laundry room
Building Details
Buildings
2
Listing Agency:
People Realty, Inc.
(661) 706-1000
Listed By:
Shawn C. Byrom
(661) 706-1000
Source:
Exprealty
Added: Jul 29
Changed: Aug 4
Last Checked: Aug 9 at 9:45AM
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 People Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex property contains two homes on a single lot. The front residence provides three bedrooms, one bathroom, and an indoor laundry room. The rear residence includes one bedroom and one bathroom, along with its own alley entry, driveway, and carport. Public records identify the rear home as 576 square feet.
The property is located near central Delano, with shopping, schools, restaurants, and freeway access in the surrounding area. The two-residence configuration and separate access features create a clearly defined layout for residential income use.
The property is located near central Delano, with shopping, schools, restaurants, and freeway access in the surrounding area. The two-residence configuration and separate access features create a clearly defined layout for residential income use.
Key Highlights
- Two homes positioned on one lot
- Front residence includes 3 bedrooms, 1 bathroom, and an indoor laundry room
- Rear residence offers 1 bedroom and 1 bathroom
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
$9,586
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
3.49%
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%
$191,720
$191.7K
Cap Rate 7%
$136,943
$136.9K
Cap Rate 9%
$106,511
$106.5K
Market Conditions
NOI Build-Up for 768 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
$14.1K $18.36/SF
− Vacancy
−$406 −$0.53/SF
EGI
$13.7K $17.83/SF
− OpEx
−$4.1K −$5.35/SF
NOI
$9.6K $12.48/SF
Area
Kern County, CA
Vacancy
2.88%
Lease Rate
$18.36 /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%
$191,720
Cap Rate 7%
$136,943
Cap Rate 9%
$106,511
Alternative Uses
Best Use
Multifamily LT 5
$136.9K
$119.8K – $159.8K
NOI $9,586 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$126.4K
$110.6K – $147.5K
NOI $8,847 @ 7.0% cap · market cap 3.22%
Theoretical Best
Warehouse
$164.1K
$143.6K – $191.4K
NOI $11,485 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 93215, CA
53,626
Population
13,207
Households
4.1
Avg Household Size
32
Median Age
8%
College-Educated
62%
High-School Grad
145.5 sq mi
ZIP Area
369
Density / Sq Mi
$61,329
Median Household Income
$26,998
Median Earnings
$1,085
Median Rent
$271,700
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 - Separate residences offer distinct layouts, indoor laundry, alley access, driveway parking, and a carport.
Where is this duplex located?
The property is located at 907 Lexington St Delano, CA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two homes positioned on one lot; Front residence includes 3 bedrooms, 1 bathroom, and an indoor laundry room; Rear residence offers 1 bedroom and 1 bathroom
