Duplex With Attached
New
For Sale
$485,000
221 Kingston Lane, Modesto, CA 95354
MULTI_FAMILY - Modesto, CA
Property Size1,794 SF
Lot Size0.13 Acres
Price / SF$270.35
Days on Market2
Property Features for 221 Kingston Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Exterior features
Back Yard, Front Yard, Side Yard
Fencing
Fenced
Appliances
Gas Water Heater
Lot features
Level, Rectangular Lot
Directions
Use GPS
Subdivision
Listing
Standard status
Active
APN
033030012000
Size
1,794 SF
Lot size
0.13 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Brick Veneer, Wood Siding
Roof type
Flat, Composition
Listing Agency:
RE/MAX Accord · RE/MAX International
(925) 838-4100
Listed By:
Timothy Vander Meulen · License #02150745
(925) 334-0760
Added: Aug 7
Changed: Aug 8
Last Checked: Aug 8 at 11:06PM
MLS# 41144335
Copyright © 2026 Contra Costa Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two residences totaling 1,794 square feet, with approximately 897 square feet per unit. Each floor plan includes two bedrooms, one bathroom, a dining area, and a slider leading to the patio. The units also feature attached 2-stall garages with laundry hookups and fenced side or back yards.
Built in 1970, the property has brick veneer and wood siding, composition and flat roofing, carpet and vinyl flooring, forced-air heat, central air, and a gas water heater. Public water and public sewer serve the property. The duplex is located on Kingston Lane in Modesto, with shops and restaurants nearby.
Built in 1970, the property has brick veneer and wood siding, composition and flat roofing, carpet and vinyl flooring, forced-air heat, central air, and a gas water heater. Public water and public sewer serve the property. The duplex is located on Kingston Lane in Modesto, with shops and restaurants nearby.
Key Highlights
- Two‑unit duplex with 1,794 square feet total
- Each unit contains approximately 897 square feet with 2 bedrooms and 1 bathroom
- Attached 2‑stall garage for each unit, with laundry hookups
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 - Both residences offer two bedrooms, dining areas, patio access, and fenced side or back yards.
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 with 1,794 square feet total; Each unit contains approximately 897 square feet with 2 bedrooms and 1 bathroom; Attached 2‑stall garage for each unit, with laundry hookups
