| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 42nd | Good |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 Sheila Ct, Modesto, CA, 95350, US |
| Region / Metro | Modesto |
| Year of Construction | 1973 |
| Units | 42 |
| Transaction Date | 2014-11-12 |
| Transaction Price | $5,000,000 |
| Buyer | VINTAGE PROPERTIES LP |
| Seller | MODESTO PROPERTY #2 |
200 Sheila Ct Modesto Multifamily Investment
This 42-unit property built in 1973 sits in a neighborhood with above-average occupancy rates and strong rental demand fundamentals. CRE market data from WDSuite shows the area maintains competitive positioning among Modesto's 130 neighborhoods.
This inner suburb neighborhood ranks 62nd among 130 metro neighborhoods with a B rating, positioning it competitively within the Modesto market. The area maintains a 95.9% occupancy rate, ranking in the 77th percentile nationally and indicating strong rental demand stability. With 40.6% of housing units renter-occupied, the neighborhood provides a solid tenant base for multifamily properties.
Demographics within a 3-mile radius show a stable population of approximately 113,825 residents with moderate household income levels. The median household income of $74,069 has grown 37.9% over five years, supporting tenant retention and rental affordability. Forecasts project continued population growth of 10.3% through 2028, expanding the potential renter pool and supporting long-term occupancy fundamentals.
The property's 1973 construction year aligns with the neighborhood average of 1978, indicating consistent building stock that may present value-add renovation opportunities for investors focused on unit upgrades and rent optimization. Local amenities include adequate grocery access with 1.54 stores per square mile, though the area shows limited cafe and childcare density, which could impact tenant convenience preferences.
Contract rents in the neighborhood median at $1,142, with 19.5% growth over five years demonstrating pricing power potential. The rent-to-income ratio of 0.17 suggests manageable affordability levels that support tenant retention, while home values at $378,288 median create ownership cost dynamics that may sustain rental demand among cost-conscious households.
The neighborhood's crime profile shows mixed indicators that warrant investor attention. Property offense rates rank 110th among 130 metro neighborhoods, placing it in the lower quartile locally, though violent crime rates rank 44th, indicating more competitive positioning in this category.
A notable positive trend shows violent offense rates declined 56% year-over-year, ranking 5th among metro neighborhoods and placing the area in the 88th percentile nationally for crime reduction. However, property offense rates increased 27.3% over the same period, suggesting investors should factor potential security considerations into property management and tenant retention strategies.
The employment landscape includes corporate presence within reasonable commuting distance, though options are limited in the immediate vicinity.
- Clorox — corporate offices (19.6 miles)
This 42-unit property offers investors exposure to a stable rental market with demonstrated occupancy strength and moderate growth fundamentals. According to CRE market data from WDSuite, the neighborhood's 95.9% occupancy rate significantly exceeds typical market performance, while projected population growth of 10.3% through 2028 supports long-term tenant demand. The 1973 vintage presents potential value-add opportunities through strategic unit improvements and common area upgrades.
Rental affordability metrics show manageable tenant cost burdens with rent-to-income ratios at 0.17, supporting lease renewal stability. However, investors should monitor the recent 27.3% increase in property crime rates and factor security enhancements into capital planning. The limited immediate employment base requires tenant commutes to broader metro employment centers, which could affect tenant retention during economic shifts.
- Strong neighborhood occupancy at 95.9% ranks in top quartile nationally
- Projected 10.3% population growth through 2028 supports tenant demand
- 1973 construction offers value-add renovation potential
- Manageable rent-to-income ratios support tenant retention
- Rising property crime rates require security investment consideration