Duplex Income Property with FHA
Locust ST San Jose, CA 95110
For Sale
$998,800
MULTI_FAMILY - SAN JOSE, CA
Property Size1,474 SF
Lot Size0.10 Acres
Price / SF$677.61
Days on Market19
Property Features for Locust ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3
Parking features
Garage - Attached, On Street
Standard status
Active
Size
1,474 SF
Lot size
0.10 Acres
Utilities
Water source
Public
Building Details
Year built
1955
Number of units
2
Flooring type
Laminate
Roof type
Composition
Listing Agency:
Acquire Inc.
(408) 455-4007
Listed By:
Robert Garcia · License #01408257
(408) 455-4007
Added: Jul 10
Changed: Jul 11
Last Checked: Jul 28 at 8:06PM
MLS# ML82040543
Copyright © 2026 MLS Listings, Inc. 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 offers a straightforward income-oriented configuration in a compact footprint, with approximately 1,474 square feet of total building area on a 0.0999-acre lot. The property is positioned for either rental use or an owner-occupant arrangement, depending on how you choose to operate it. For qualified buyers, the listing notes an assumable FHA loan, with buyer qualification required.
The home is located on Locust St in San Jose (95110), zoned R2. The remarks describe the setting as a central corridor near downtown San Jose, with proximity to major employers, transit, parks, and everyday conveniences.
For tenants, this type of duplex can provide access to a smaller, self-contained rental option. For buyers, it may fit a range of strategies, including acquiring an income-producing residential property through an FHA-assumption pathway if you meet lender requirements. If you’re looking to balance housing costs with rental income, the owner-occupant “live in one / rent the other” concept referenced in the remarks may be worth discussing as part of your operating plan.
The home is located on Locust St in San Jose (95110), zoned R2. The remarks describe the setting as a central corridor near downtown San Jose, with proximity to major employers, transit, parks, and everyday conveniences.
For tenants, this type of duplex can provide access to a smaller, self-contained rental option. For buyers, it may fit a range of strategies, including acquiring an income-producing residential property through an FHA-assumption pathway if you meet lender requirements. If you’re looking to balance housing costs with rental income, the owner-occupant “live in one / rent the other” concept referenced in the remarks may be worth discussing as part of your operating plan.
Key Highlights
- Potentially assumable FHA loan may be available for qualified buyers (buyer must qualify)
- 4‑bedroom home built in 1955
- Laminate flooring
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.5k | $33.60 |
| − Vacancy | −$2.1k | −$1.43 |
| EGI | $47.4k | $32.17 |
| − OpEx | −$14.2k | −$9.65 |
| NOI | $33.2k | $22.52 |
1,474 SF · lease $33.60/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$474.1K
$414.9K – $553.1K
NOI $33,188 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$438.0K
$383.2K – $511.0K
NOI $30,659 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$890.2K
$778.9K – $1.04M
NOI $62,314 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex in San Jose offers income-producing potential with buyer-qualifying assumable FHA financing.
Where is this duplex located?
The property is located at Locust ST San Jose, CA.
What is the asking price?
The asking price for this property is $998,800.
What are key features of this property?
This property features: Potentially assumable FHA loan may be available for qualified buyers (buyer must qualify); 4‑bedroom home built in 1955; Laminate flooring
