Two-Unit Duplex with
For Sale
$485,000
221 Kingston Lane, Modesto, CA 95354
Residential Income, Modesto, CA
Property Size1,794 SF
Lot Size0.13 Acres
Price / SF$270.35
Days on Market25
Property Features for 221 Kingston Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Exterior features
Back Yard, Front Yard, Side Yard
Fencing
Fenced
Appliances
Gas Water Heater
Lot features
Level, Rectangular Lot
Directions
Use GPS.
Subdivision
Listing
Standard status
Active
APN
033030012000
Size
1,794 SF
Lot size
0.13 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
patio
fenced yard
laundry hook-ups
Building Details
Year built
1970
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Brick Veneer, Wood Siding
Roof type
Composition, Flat
Listing Agency:
RE/MAX Accord · RE/MAX International
(925) 838-4100
Listed By:
Timothy Vander Meulen · License #02150745
(925) 334-0760
Added: Aug 7
Changed: Aug 19
Last Checked: Aug 31 at 4:06PM
MLS# 41144335
Copyright © 2026 Contra Costa Association of REALTORS®. 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 1970 duplex contains two residences, each with approximately 897 square feet, two bedrooms, and one bathroom. Both floor plans include a dining area with slider access to a patio, along with attached 2-stall garages and laundry hookups. Exterior features include front, back, and side yards enclosed by fencing. Construction incorporates brick veneer and wood siding, with carpet and vinyl flooring, forced-air heating, central air, a gas water heater, composition and flat roofing, public water, and public sewer.
The property is located at 221 Kingston Lane in Modesto, near shops and restaurants. The combined building area is 1,794 square feet on a 0.13-acre lot.
The property is located at 221 Kingston Lane in Modesto, near shops and restaurants. The combined building area is 1,794 square feet on a 0.13-acre lot.
Key Highlights
- Two‑unit duplex with 1,794 square feet of total building area
- Each unit offers approximately 897 square feet, 2 bedrooms, and 1 bathroom
- Attached 2‑stall garage and laundry hookups provided 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
$26,708
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
5.51%
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%
$534,160
$534.2K
Cap Rate 7%
$381,543
$381.5K
Cap Rate 9%
$296,756
$296.8K
Market Conditions
NOI Build-Up for 1,794 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
$39.8K $22.20/SF
− Vacancy
−$1.7K −$0.93/SF
EGI
$38.2K $21.27/SF
− OpEx
−$11.4K −$6.38/SF
NOI
$26.7K $14.89/SF
Area
Modesto, CA
Vacancy
4.20%
Lease Rate
$22.20 /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%
$534,160
Cap Rate 7%
$381,543
Cap Rate 9%
$296,756
Alternative Uses
Best Use
Multifamily LT 5
$381.5K
$333.9K – $445.1K
NOI $26,708 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$341.0K
$298.4K – $397.8K
NOI $23,870 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$602.8K
$527.4K – $703.3K
NOI $42,195 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Explore this area
Business Placement
Demographics for 95354, CA
26,765
Population
9,797
Households
2.7
Avg Household Size
36
Median Age
17%
College-Educated
80%
High-School Grad
7.7 sq mi
ZIP Area
3,476
Density / Sq Mi
$65,643
Median Household Income
$42,126
Median Earnings
$1,463
Median Rent
$360,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, one bath, patio access, and a fenced yard.
Where is this duplex located?
The property is located at 221 Kingston Lane Modesto, CA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,794 square feet of total building area; Each unit offers approximately 897 square feet, 2 bedrooms, and 1 bathroom; Attached 2‑stall garage and laundry hookups provided for each unit
