Duplex with Brick
For Sale
$550,000
1535 W Rumble Road, Modesto, CA 95350
Two residential units offer private outdoor space, central A/C, and access to an off-site community pool.
Property Size2,096 SF
Price / SF$262.40
Days on Market8
Property Features for 1535 W Rumble Road
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
central A/C
brick fireplace
spacious backyard
off-site community pool
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Realty ONE Group Zoom
(209) 814-2011
Listed By:
Garrett F. Smith · License #01725468
(209) 342-7110
Source:
Exitrealty
Added: Aug 29
Changed: Sep 4
Last Checked: Sep 4 at 2:41PM
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 Realty ONE Group Zoom
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each with 2 bedrooms, 1 bath, central A/C, and a brick fireplace. The property was built in 1965 and includes a spacious backyard with mature shade trees, providing outdoor space for relaxation or entertaining. Residents also have access to an off-site community pool.
The property is positioned near shopping, dining, schools, and major roadways. An adjacent duplex is also being offered for sale, creating the potential to acquire four neighboring units in one purchase. The configuration supports both owner-occupant and investment-oriented use, as described in the property information.
The property is positioned near shopping, dining, schools, and major roadways. An adjacent duplex is also being offered for sale, creating the potential to acquire four neighboring units in one purchase. The configuration supports both owner-occupant and investment-oriented use, as described in the property information.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath per unit
- Central A/C and brick fireplace in each unit
- 2096 property size
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
$31,204
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
5.67%
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%
$624,080
$624.1K
Cap Rate 7%
$445,771
$445.8K
Cap Rate 9%
$346,711
$346.7K
Market Conditions
NOI Build-Up for 2,096 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
$46.5K $22.20/SF
− Vacancy
−$2.0K −$0.93/SF
EGI
$44.6K $21.27/SF
− OpEx
−$13.4K −$6.38/SF
NOI
$31.2K $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%
$624,080
Cap Rate 7%
$445,771
Cap Rate 9%
$346,711
Alternative Uses
Best Use
Multifamily LT 5
$445.8K
$390.1K – $520.1K
NOI $31,204 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$398.4K
$348.6K – $464.8K
NOI $27,889 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$704.3K
$616.2K – $821.6K
NOI $49,298 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
726
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 - Two residential units offer private outdoor space, central A/C, and access to an off-site community pool.
Where is this duplex located?
The property is located at 1535 W Rumble Road Modesto, CA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath per unit; Central A/C and brick fireplace in each unit; 2096 property size
