Updated Duplex with Private
218 Drake Ave, Modesto, CA 95350
For Sale
$450,000
Two refreshed residences include individual appliances, mini-split systems, and fenced outdoor areas.
Property Size1,320 SF
Price / SF$340.91
Days on Market51
Property Features for 218 Drake Ave
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Public Transit
Multifamily Units
Amenities
private fenced patio
Building Details
Year Built
Listing Agency:
Weeks Real Estate
Listed By:
Debra L Cole
5952167
Source:
Thedelrealgroup
Added: Sep 20
Changed: Oct 26
Last Checked: Oct 7 at 2:45PM
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 Weeks Real Estate
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Investment Insights
Based on property information with market context.
Built in 1963, this 1,320-square-foot duplex contains two residences, each with one bathroom, a separate appliance package, and a private fenced patio with a concrete pad. Interior improvements include laminate flooring, granite kitchen counters, tile backsplashes, fresh paint, and mini-split units. A newer roof adds to the property's recent improvement profile.
The property is within walking distance of McHenry Village, grocery stores, and transportation. Both residences are occupied, with one tenancy continuing month to month and the other governed by a lease. The front residence is described as having one possible two-bedroom configuration, while the second is a one-bedroom, one-bath unit.
The property is within walking distance of McHenry Village, grocery stores, and transportation. Both residences are occupied, with one tenancy continuing month to month and the other governed by a lease. The front residence is described as having one possible two-bedroom configuration, while the second is a one-bedroom, one-bath unit.
Key Highlights
- Two‑unit duplex totaling 1,320 SF
- Built in 1963 with a newer roof
- Granite counters, tile backsplashes, laminate flooring, and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,651
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$393,020
$393.0K
Cap Rate 7%
$280,729
$280.7K
Cap Rate 9%
$218,344
$218.3K
Market Conditions
NOI Build-Up for 1,320 SF
Gross rent
$29.3K $22.20/SF
− Vacancy
−$1.2K −$0.93/SF
EGI
$28.1K $21.27/SF
− OpEx
−$8.4K −$6.38/SF
NOI
$19.7K $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 Rate 5%
$393,020
Cap Rate 7%
$280,729
Cap Rate 9%
$218,344
Alternative Uses
Best Use
Multifamily LT 5
$280.7K
$245.6K – $327.5K
NOI $19,651 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$250.9K
$219.5K – $292.7K
NOI $17,563 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$443.5K
$388.1K – $517.4K
NOI $31,046 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,930
Businesses Nearby
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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
$397,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Modesto, CA
Properties on Market for Duplexes in Modesto
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed residences include individual appliances, mini-split systems, and fenced outdoor areas.
Where is this duplex located?
The property is located at 218 Drake Ave 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: Two‑unit duplex totaling 1,320 SF; Built in 1963 with a newer roof; Granite counters, tile backsplashes, laminate flooring, and fresh paint
