Two-Unit
For Sale
$475,000
1200 Carver Rd, Modesto, CA 95350
One residence is occupied, while the second is expected to become vacant soon for flexible ownership or leasing plans.
Property Size2,045 SF
Price / SF$232.27
Days on Market30
Property Features for 1200 Carver Rd
General Information
Standard status
Active
Size
2,045 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
private backyard patio
Building Details
Year Built
1963
Listing Agency:
LPT Realty, Inc
(916) 747-2960
Listed By:
Konstantin Safris · License #01958291
Source:
Homesofgreatersacramento
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 30 at 6:05PM
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 LPT Realty, Inc
Investment Insights
Based on property information with market context.
Built in 1963, this 2,045-square-foot duplex at 1200 Carver Rd in Modesto includes two separate residences. The unit mix consists of one two-bedroom, two-bath home and one two-bedroom, one-bath home. One residence is tenant occupied, while the other is expected to be vacant soon, providing flexibility for an owner occupant or continued rental use.
Recent property work includes a newer roof, a freshly painted exterior, and a replaced sewer line. Both units have private backyard patios, and the property includes ample driveway parking. The location places the duplex near shopping, restaurants, Modesto Junior College, schools, parks, and major commuter routes.
Recent property work includes a newer roof, a freshly painted exterior, and a replaced sewer line. Both units have private backyard patios, and the property includes ample driveway parking. The location places the duplex near shopping, restaurants, Modesto Junior College, schools, parks, and major commuter routes.
Key Highlights
- Two‑unit duplex with 2,045 square feet of building area
- Unit mix includes one 2‑bedroom, 2‑bath unit and one 2‑bedroom, 1‑bath unit
- One unit is tenant occupied; the other is expected to be vacant soon
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
$30,445
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
6.41%
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%
$608,900
$608.9K
Cap Rate 7%
$434,929
$434.9K
Cap Rate 9%
$338,278
$338.3K
Market Conditions
NOI Build-Up for 2,045 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
$45.4K $22.20/SF
− Vacancy
−$1.9K −$0.93/SF
EGI
$43.5K $21.27/SF
− OpEx
−$13.0K −$6.38/SF
NOI
$30.4K $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%
$608,900
Cap Rate 7%
$434,929
Cap Rate 9%
$338,278
Alternative Uses
Best Use
Multifamily LT 5
$434.9K
$380.6K – $507.4K
NOI $30,445 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$388.7K
$340.1K – $453.5K
NOI $27,210 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$687.1K
$601.2K – $801.6K
NOI $48,098 @ 7.0% cap · market cap 10.13%
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
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 95350, CA
55,344
Population
20,327
Households
2.7
Avg Household Size
37
Median Age
20%
College-Educated
85%
High-School Grad
8.8 sq mi
ZIP Area
6,289
Density / Sq Mi
$73,611
Median Household Income
$43,428
Median Earnings
$1,483
Median Rent
$397,100
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 - One residence is occupied, while the second is expected to become vacant soon for flexible ownership or leasing plans.
Where is this duplex located?
The property is located at 1200 Carver Rd Modesto, CA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,045 square feet of building area; Unit mix includes one 2‑bedroom, 2‑bath unit and one 2‑bedroom, 1‑bath unit; One unit is tenant occupied; the other is expected to be vacant soon
