Remodeled
For Sale
$450,000
1626 Larkin Avenue, Modesto, CA 95354
Two-unit residential property with refreshed interiors and private yard areas in Modesto.
Property Size1,626 SF
Price / SF$276.75
Days on Market8
Property Features for 1626 Larkin Avenue
General Information
Standard status
Active
Size
1,626 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
separate yards
Building Details
Year Built
1940
Listing Agency:
Kimberly Maffia, Coldwell Banker Realty
Listed By:
The Jamison Team · License #327646
(408) 465-4899
Source:
Tuscanaproperties
Added: Sep 6
Changed: Sep 12
Last Checked: Sep 13 at 8:10AM
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 Kimberly Maffia, Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,626 square feet and was originally built in 1940. Recent remodeling work includes updated kitchens and bathrooms, new flooring, and contemporary interior finishes. The two residential units provide functional living areas along with separate yards for each unit.
The property is located in Modesto, with access to shopping, schools, and major roads. Its duplex configuration supports both investment ownership and an owner-occupant arrangement, as described by the available property information.
The property is located in Modesto, with access to shopping, schools, and major roads. Its duplex configuration supports both investment ownership and an owner-occupant arrangement, as described by the available property information.
Key Highlights
- Duplex with 1,626 square feet
- Built in 1940
- Recently remodeled kitchens and bathrooms
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
$24,207
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
5.38%
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%
$484,140
$484.1K
Cap Rate 7%
$345,814
$345.8K
Cap Rate 9%
$268,967
$269.0K
Market Conditions
NOI Build-Up for 1,626 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
$36.1K $22.20/SF
− Vacancy
−$1.5K −$0.93/SF
EGI
$34.6K $21.27/SF
− OpEx
−$10.4K −$6.38/SF
NOI
$24.2K $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%
$484,140
Cap Rate 7%
$345,814
Cap Rate 9%
$268,967
Alternative Uses
Best Use
Multifamily LT 5
$345.8K
$302.6K – $403.5K
NOI $24,207 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$309.1K
$270.4K – $360.6K
NOI $21,635 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$546.3K
$478.1K – $637.4K
NOI $38,244 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
260
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with refreshed interiors and private yard areas in Modesto.
Where is this duplex located?
The property is located at 1626 Larkin Avenue Modesto, CA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex with 1,626 square feet; Built in 1940; Recently remodeled kitchens and bathrooms
