Two-Unit Duplex with Attached
For Sale
$569,000
9525 Cody Way, Stockton, CA 95209
Both residences offer three-bedroom layouts, two bathrooms, and direct access to private garage parking.
Property Size2,242 SF
Price / SF$253.79
Days on Market61
Property Features for 9525 Cody Way
General Information
Standard status
Active
Size
2,242 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Building Details
Year Built
1979
Buildings
1
Listing Agency:
PMZ Real Estate
(209) 665-5598
Listed By:
Jeffrey L. Dolen · License #01942488
(209) 665-5598
Source:
Exitrealty
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 31 at 4:12PM
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 2,242-square-foot duplex, built in 1979, contains two residences with matching three-bedroom, two-bathroom layouts. Each unit includes an attached two-car garage, providing private parking and practical storage. The configuration supports separate living arrangements within one residential income property.
Located at 9525 Cody Way in Stockton, the property offers access to shopping, dining, schools, and commuter routes. Its two-unit design and garage-equipped floor plans provide a clearly defined setup for rental housing or owner-occupied use.
Located at 9525 Cody Way in Stockton, the property offers access to shopping, dining, schools, and commuter routes. Its two-unit design and garage-equipped floor plans provide a clearly defined setup for rental housing or owner-occupied use.
Key Highlights
- Two‑unit duplex with 2,242 square feet
- Each unit includes 3 bedrooms and 2 bathrooms
- Attached 2‑car garage for each residence
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
$33,377
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
5.87%
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%
$667,540
$667.5K
Cap Rate 7%
$476,814
$476.8K
Cap Rate 9%
$370,856
$370.9K
Market Conditions
NOI Build-Up for 2,242 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
$49.8K $22.20/SF
− Vacancy
−$2.1K −$0.93/SF
EGI
$47.7K $21.27/SF
− OpEx
−$14.3K −$6.38/SF
NOI
$33.4K $14.89/SF
Area
ZIP 95209
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%
$667,540
Cap Rate 7%
$476,814
Cap Rate 9%
$370,856
Alternative Uses
Best Use
Multifamily LT 5
$476.8K
$417.2K – $556.3K
NOI $33,377 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$427.0K
$373.7K – $498.2K
NOI $29,893 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$484.3K
$423.7K – $565.0K
NOI $33,899 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 95209, CA
44,660
Population
13,923
Households
3.2
Avg Household Size
37
Median Age
25%
College-Educated
87%
High-School Grad
8.2 sq mi
ZIP Area
5,446
Density / Sq Mi
$106,056
Median Household Income
$47,456
Median Earnings
$1,813
Median Rent
$464,900
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 three-bedroom layouts, two bathrooms, and direct access to private garage parking.
Where is this duplex located?
The property is located at 9525 Cody Way Stockton, CA.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,242 square feet; Each unit includes 3 bedrooms and 2 bathrooms; Attached 2‑car garage for each residence
