Duplex with Attached
New
For Sale
$485,000
221 Kingston Lane, Modesto, CA 95354
Two residential units feature private patios, fenced outdoor areas, and attached garage parking.
Property Size1,794 SF
Price / SF$270.35
Days on Market5
Property Features for 221 Kingston Lane
General Information
Standard status
Active
Size
1,794 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
2
Amenities
attached garage
laundry hook-ups
patio
fenced-in yard
Building Details
Year Built
1970
Buildings
1
Listing Agency:
RE/MAX Accord
(925) 334-0760
Listed By:
Timothy Vander Meulen · License #02150745
(925) 334-0760
Source:
Exitrealty
Added: Aug 8
Changed: Aug 12
Last Checked: Aug 12 at 4:29AM
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 RE/MAX Accord
Investment Insights
Based on property information with market context.
Built in 1970, this duplex contains two residential units totaling 1,794 square feet. Each unit offers approximately 897 square feet with 2 bedrooms, 1 bathroom, and a dining area that opens through a slider to the patio. Fenced side and backyards provide private outdoor space for each residence.
Both units include an attached 2-stall garage with laundry hookups. The property is located near shops and restaurants at 221 Kingston Lane in Modesto, California.
Both units include an attached 2-stall garage with laundry hookups. The property is located near shops and restaurants at 221 Kingston Lane in Modesto, California.
Key Highlights
- Two‑unit duplex totaling 1,794 square feet
- Each unit has approx. 897 square feet, 2 bedrooms, and 1 bathroom
- Dining areas open to patios through sliding doors
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
$26,708
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
5.51%
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%
$534,160
$534.2K
Cap Rate 7%
$381,543
$381.5K
Cap Rate 9%
$296,756
$296.8K
Market Conditions
NOI Build-Up for 1,794 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
$39.8K $22.20/SF
− Vacancy
−$1.7K −$0.93/SF
EGI
$38.2K $21.27/SF
− OpEx
−$11.4K −$6.38/SF
NOI
$26.7K $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 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%
$534,160
Cap Rate 7%
$381,543
Cap Rate 9%
$296,756
Alternative Uses
Best Use
Multifamily LT 5
$381.5K
$333.9K – $445.1K
NOI $26,708 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$341.0K
$298.4K – $397.8K
NOI $23,870 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$602.8K
$527.4K – $703.3K
NOI $42,195 @ 7.0% cap · market cap 8.70%
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
298
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
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 feature private patios, fenced outdoor areas, and attached garage parking.
Where is this duplex located?
The property is located at 221 Kingston Lane Modesto, CA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,794 square feet; Each unit has approx. 897 square feet, 2 bedrooms, and 1 bathroom; Dining areas open to patios through sliding doors
