Two-Unit Duplex with
For Sale
$510,000
604 Fort Sumpter Dr, Modesto, CA 95354
Two-bed, one-bath duplex with one fully remodeled unit and one unit with long-term rental history.
Property Size1,988 SF
Price / SF$256.54
Days on Market235
Property Features for 604 Fort Sumpter Dr
General Information
Standard status
Active
Size
1,988 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Listing Agency:
eXp Realty of California Inc.
Listed By:
Tatiana A Serrano Zeledon · License #02213602
3904290
Source:
Exprealty
Added: Feb 1
Changed: Sep 10
Last Checked: Sep 24 at 1:58PM
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 eXp Realty of California Inc.
Investment Insights
Based on property information with market context.
This 2-unit duplex includes two-bed, one-bath living arrangements in both units. One unit has been fully remodeled and features a new A/C unit, kitchen appliances, tile finishes, and fresh paint. The second unit is described as having solid bones and a long-term rental history.
The property is offered for sale at 604 Fort Sumpter Drive in Modesto, CA 95354.
As presented, the duplex offers an owner-occupant or investor configuration with rental income potential through two separate units.
The property is offered for sale at 604 Fort Sumpter Drive in Modesto, CA 95354.
As presented, the duplex offers an owner-occupant or investor configuration with rental income potential through two separate units.
Key Highlights
- 1977‑built 2‑unit duplex with 2 bed, 1 bath units
- One unit is fully remodeled with new A/C unit, kitchen appliances, tile, and paint
- Second unit offers long‑term rental history
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
$29,596
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
5.80%
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%
$591,920
$591.9K
Cap Rate 7%
$422,800
$422.8K
Cap Rate 9%
$328,844
$328.8K
Market Conditions
NOI Build-Up for 1,988 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
$44.1K $22.20/SF
− Vacancy
−$1.9K −$0.93/SF
EGI
$42.3K $21.27/SF
− OpEx
−$12.7K −$6.38/SF
NOI
$29.6K $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%
$591,920
Cap Rate 7%
$422,800
Cap Rate 9%
$328,844
Alternative Uses
Best Use
Multifamily LT 5
$422.8K
$370.0K – $493.3K
NOI $29,596 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$377.9K
$330.7K – $440.9K
NOI $26,452 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$668.0K
$584.5K – $779.3K
NOI $46,758 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
176
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bed, one-bath duplex with one fully remodeled unit and one unit with long-term rental history.
Where is this duplex located?
The property is located at 604 Fort Sumpter Dr Modesto, CA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 1977‑built 2‑unit duplex with 2 bed, 1 bath units; One unit is fully remodeled with new A/C unit, kitchen appliances, tile, and paint; Second unit offers long‑term rental history
