Three-Unit Triplex with
New
For Sale
$635,000
2517 Liberty Court, Modesto, CA 95355
Each residence includes indoor laundry, a covered carport, and additional driveway parking.
Property Size3,200 SF
Price / SF$198.44
Days on Market6
Property Features for 2517 Liberty Court
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Road Access
Yes
Amenities
indoor laundry
rear patio
yard
Building Details
Year Built
1972
Listing Agency:
Professional Realty Associates
(916) 442-1459
Listed By:
Connie Perry · License #01065518
(209) 573-1951
Source:
Exitrealty
Added: Aug 30
Changed: Sep 4
Last Checked: Sep 4 at 3:04PM
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 Professional Realty Associates
Investment Insights
Based on property information with market context.
Built in 1972, this 3,200-square-foot triplex contains three residences, each arranged with 2 bedrooms and 1 bathroom. Unit 1 offers a larger floor plan and its own yard, while Units 2 and 3 include low-maintenance rear patios. All three residences provide indoor laundry, a covered one-car carport, and additional driveway parking.
Unit 2 measures approximately 1,050 square feet and includes a living room, dining area, laminate flooring, carpeted areas, blinds, an electric range, dishwasher, microwave, and garbage disposal. The property occupies a quiet cul-de-sac corner at Floyd Avenue and Liberty Court in Modesto, California, with an established three-unit rental configuration.
Unit 2 measures approximately 1,050 square feet and includes a living room, dining area, laminate flooring, carpeted areas, blinds, an electric range, dishwasher, microwave, and garbage disposal. The property occupies a quiet cul-de-sac corner at Floyd Avenue and Liberty Court in Modesto, California, with an established three-unit rental configuration.
Key Highlights
- Three‑unit property with 2 bedrooms and 1 bathroom in each residence
- 3,200 square feet; built in 1972
- Covered one‑car carport and additional driveway parking for each unit
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
$47,639
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
7.50%
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%
$952,780
$952.8K
Cap Rate 7%
$680,557
$680.6K
Cap Rate 9%
$529,322
$529.3K
Market Conditions
NOI Build-Up for 3,200 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
$71.0K $22.20/SF
− Vacancy
−$3.0K −$0.93/SF
EGI
$68.1K $21.27/SF
− OpEx
−$20.4K −$6.38/SF
NOI
$47.6K $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%
$952,780
Cap Rate 7%
$680,557
Cap Rate 9%
$529,322
Alternative Uses
Best Use
Multifamily LT 5
$680.6K
$595.5K – $794.0K
NOI $47,639 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$608.3K
$532.2K – $709.6K
NOI $42,578 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$1.08M
$940.8K – $1.25M
NOI $75,264 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Explore this area
Business Placement
Demographics for 95355, CA
62,337
Population
22,136
Households
2.8
Avg Household Size
38
Median Age
24%
College-Educated
90%
High-School Grad
9.3 sq mi
ZIP Area
6,703
Density / Sq Mi
$83,460
Median Household Income
$46,482
Median Earnings
$1,719
Median Rent
$447,600
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?
Triplex - Each residence includes indoor laundry, a covered carport, and additional driveway parking.
Where is this triplex located?
The property is located at 2517 Liberty Court Modesto, CA.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Three‑unit property with 2 bedrooms and 1 bathroom in each residence; 3,200 square feet; built in 1972; Covered one‑car carport and additional driveway parking for each unit
