| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 32nd | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3401 Shawnee Dr, Modesto, CA, 95350, US |
| Region / Metro | Modesto |
| Year of Construction | 1987 |
| Units | 53 |
| Transaction Date | 2015-10-30 |
| Transaction Price | $5,900,000 |
| Buyer | --- |
| Seller | --- |
3401 Shawnee Dr Modesto Multifamily Investment
Neighborhood occupancy has held in the mid-90s, supporting income stability for well-run assets, according to WDSuite’s CRE market data. Strong renter demand in an inner-suburb location provides durable leasing fundamentals without relying on speculative growth.
This inner-suburb location in Modesto balances daily convenience with steady renter demand. Cafes, parks, pharmacies, childcare, and restaurants score in the upper national percentiles, indicating a well-amenitized neighborhood experience, while limited grocery options nearby may require short trips to adjacent areas. Compared with metro peers (130 neighborhoods total), this area is competitive on amenities and sits above national norms on overall housing indicators.
For investors, the neighborhood’s occupancy is strong relative to national trends, helping underpin rent roll durability. Median asking rents in the area have advanced over the past cycle, and NOI per unit benchmarks rank competitively among Modesto neighborhoods, reinforcing income potential for professionally managed properties. Elevated home values versus national norms suggest a high-cost ownership market, which typically sustains rental demand and supports lease retention.
Vintage also matters: the property’s 1987 construction is newer than the neighborhood’s average 1970s housing stock. That positioning can be advantageous versus older comparables, while still leaving room for targeted modernization and capital planning around aging systems to sharpen competitive appeal.
Demographic statistics aggregated within a 3-mile radius show modest population growth recently, with forecasts pointing to additional gains and a larger household base over the next five years. A renter-occupied share around two-fifths indicates a meaningful tenant base, and projected increases in incomes alongside rising asking rents suggest room for measured rent growth management rather than aggressive pricing. Together, these dynamics support occupancy stability and consistent leasing velocity, based on commercial real estate analysis from WDSuite.
Safety indicators are mixed but trending in a constructive direction. The neighborhood sits around the national median on overall safety (national percentile near the 50s), with violent incident rates showing a notably positive year-over-year decline compared with neighborhoods nationwide. Property crime remains a consideration versus national norms, so prudent on-site measures and resident engagement can help support retention and asset performance.
Within the Modesto metro (130 neighborhoods total), conditions are competitive rather than top-tier, and recent improvement trends suggest stabilization. Investors should underwrite to current operating practices and monitor local data updates, using a comparable lens across nearby Modesto neighborhoods.
Regional employment access supports renter demand, with commutes to established corporate offices offering breadth across household income tiers. The employers below reflect accessible drivers for workforce housing and retention.
- Clorox — consumer products (17.6 miles)
3401 Shawnee Dr benefits from strong neighborhood occupancy, a deep renter pool, and amenity access that outperforms national averages. The 1987 vintage is relatively newer than nearby 1970s stock, offering competitive positioning with the potential for selective value-add upgrades to enhance rents and retention. Elevated ownership costs locally reinforce renter reliance on multifamily housing, while 3-mile demographic trends point to population growth and an expanding household base that can support steady leasing.
According to CRE market data from WDSuite, neighborhood operating metrics and rent levels compare favorably to broader national patterns, supporting income durability rather than speculative upside. Balanced underwriting should account for property-crime exposure and modest school ratings, with asset management practices focused on resident experience and convenience to sustain occupancy.
- Strong neighborhood occupancy and durable renter demand support cash flow stability
- 1987 vintage offers competitive positioning versus older local stock with targeted modernization upside
- Elevated ownership costs sustain rental demand and can aid lease retention
- 3-mile population and income growth trends expand the tenant base over time
- Risks: property-crime considerations, limited nearby grocery options, and modest school ratings require active management