Duplex with Private
220 Drake Ave, Modesto, CA 95350
For Sale
$450,000
Two occupied units include separate appliance packages, mini-split systems, and fenced outdoor areas.
Property Size1,320 SF
Price / SF$340.91
Days on Market98
Property Features for 220 Drake Ave
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Weeks Real Estate
Listed By:
Debra L. Cole
5952167
Source:
Homesofgreatersacramento
Added: Aug 4
Changed: Nov 1
Last Checked: Nov 8 at 6:43AM
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.
This 1,320-square-foot duplex, built in 1963, contains two units: a front residence with one bedroom and a possible second bedroom, plus a separate one-bedroom, one-bath unit. Both have been updated with laminate flooring, granite kitchen counters, tile backsplashes, mini-split systems, and individual appliance packages that include a stove, refrigerator, washer, and dryer. Each residence also has a fenced patio with a concrete pad. A newer roof and refreshed interior and exterior paint are among the property improvements.
Both units are occupied. One tenancy is month-to-month, while the other is under lease. McHenry Village, grocery stores, and transportation are within walking distance.
Both units are occupied. One tenancy is month-to-month, while the other is under lease. McHenry Village, grocery stores, and transportation are within walking distance.
Key Highlights
- 1,320‑square‑foot duplex built in 1963
- Front unit offers 1 bedroom with a possible second bedroom; second unit has 1 bedroom and 1 bath
- Each unit has a fenced patio area with a concrete pad
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.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,930
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
$397,100
Median Home Value
Market
Average Price Trend$/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 occupied units include separate appliance packages, mini-split systems, and fenced outdoor areas.
Where is this duplex located?
The property is located at 220 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: 1,320‑square‑foot duplex built in 1963; Front unit offers 1 bedroom with a possible second bedroom; second unit has 1 bedroom and 1 bath; Each unit has a fenced patio area with a concrete pad
