Updated
New
For Sale
$515,000
605 Fort Sumpter Dr, Modesto, CA 95354
Duplex with one recently refreshed vacant unit and flexibility for investor or owner-occupant use.
Property Size1,944 SF
Price / SF$264.92
Days on Market5
Property Features for 605 Fort Sumpter Dr
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Multi-Family
Building Details
Year Built
1977
Listing Agency:
PMZ Real Estate
(209) 345-2203
Listed By:
Pamela M Harmon · License #01046296
Source:
Thedelrealgroup
Added: Aug 25
Changed: Aug 27
Last Checked: Aug 28 at 1:07PM
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 PMZ Real Estate
Investment Insights
Based on property information with market context.
This duplex, identified at 605 and 607 Fort Sumpter Dr, contains 1,944 square feet and was built in 1977. One unit is currently vacant and has undergone recent improvements, including new paint, flooring, and appliances. The two-unit configuration provides flexibility for an owner occupant or investor, while the second unit remains part of the property’s existing layout.
Key Highlights
- Two‑unit property at 605 and 607 Fort Sumpter Dr
- 1,944‑square‑foot duplex built in 1977
- One unit is vacant and recently updated
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
$28,941
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
5.62%
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%
$578,820
$578.8K
Cap Rate 7%
$413,443
$413.4K
Cap Rate 9%
$321,567
$321.6K
Market Conditions
NOI Build-Up for 1,944 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
$43.2K $22.20/SF
− Vacancy
−$1.8K −$0.93/SF
EGI
$41.3K $21.27/SF
− OpEx
−$12.4K −$6.38/SF
NOI
$28.9K $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%
$578,820
Cap Rate 7%
$413,443
Cap Rate 9%
$321,567
Alternative Uses
Best Use
Multifamily LT 5
$413.4K
$361.8K – $482.4K
NOI $28,941 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$369.5K
$323.3K – $431.1K
NOI $25,866 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
103
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 - Duplex with one recently refreshed vacant unit and flexibility for investor or owner-occupant use.
Where is this duplex located?
The property is located at 605 Fort Sumpter Dr Modesto, CA.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two‑unit property at 605 and 607 Fort Sumpter Dr; 1,944‑square‑foot duplex built in 1977; One unit is vacant and recently updated
