Residential Income
For Sale
$749,888
921 Rivera Drive, Sacramento, CA 95838
1930-built property with unit-specific systems, appliance packages, storage, and varied off-street parking options.
Property Size3,665 SF
Price / SF$204.61
Days on Market49
Property Features for 921 Rivera Drive
General Information
Standard status
Active
Size
3,665 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R-1
Amenities
Ceiling Fan(s), Wall Unit(s), Window Unit(s), Varies by Unit
Wall Furnace, Varies by Unit, Natural Gas
Free-Standing Gas Oven, Free-Standing Gas Range, Free-Standing Refrigerator, Gas Water Heater
Storage
Off Street, Detached, Garage, Varies by Unit, On Street
Traditional
Building Details
Year Built
1930
Buildings
5
Stories
1
Listed By:
Michael D. Erman
(916) 524-5245
Source:
Evrealestate
Added: Jul 17
Changed: Aug 30
Last Checked: Sep 2 at 1:11PM
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 Michael D. Erman
Investment Insights
Based on property information with market context.
This residential income property offers 3,665 square feet within a 1930-built structure. Interior features vary by unit and include ceiling fans, wall and window cooling units, wall furnaces, natural gas service, gas water heaters, and freestanding cooking and refrigeration appliances. Storage is also provided.
Parking options include off-street spaces, detached garages, and on-street parking, with availability varying by unit. The property is located in Sacramento, California, and carries R-1 zoning.
Parking options include off-street spaces, detached garages, and on-street parking, with availability varying by unit. The property is located in Sacramento, California, and carries R-1 zoning.
Key Highlights
- 3,665‑square‑foot residential income property
- Built in 1930
- R‑1 zoning in Sacramento, CA
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
$57,570
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
7.68%
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%
$1,151,400
$1.2M
Cap Rate 7%
$822,429
$822.4K
Cap Rate 9%
$639,667
$639.7K
Market Conditions
NOI Build-Up for 3,665 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
$110.0K $30.00/SF
− Vacancy
−$5.3K −$1.44/SF
EGI
$104.7K $28.56/SF
− OpEx
−$47.1K −$12.85/SF
NOI
$57.6K $15.71/SF
Area
Sacramento, CA
Vacancy
4.80%
Lease Rate
$30.00 /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%
$1,151,400
Cap Rate 7%
$822,429
Cap Rate 9%
$639,667
Alternative Uses
Best Use
Apartment 5plus
$822.4K
$719.6K – $959.5K
NOI $57,570 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$984.8K
$861.7K – $1.15M
NOI $68,939 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Explore this area
Business Placement
Demographics for 95838, CA
41,340
Population
12,400
Households
3.3
Avg Household Size
32
Median Age
14%
College-Educated
80%
High-School Grad
9.2 sq mi
ZIP Area
4,493
Density / Sq Mi
$63,969
Median Household Income
$35,443
Median Earnings
$1,605
Median Rent
$369,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 1930-built property with unit-specific systems, appliance packages, storage, and varied off-street parking options.
Where is this residential income property located?
The property is located at 921 Rivera Drive Sacramento, CA.
What is the asking price?
The asking price for this property is $749,888.
What are key features of this property?
This property features: 3,665‑square‑foot residential income property; Built in 1930; R‑1 zoning in Sacramento, CA
