| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 25th | Fair |
| Amenities | 9th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1405 Eucalyptus Ave, Newman, CA, 95360, US |
| Region / Metro | Newman |
| Year of Construction | 1978 |
| Units | 30 |
| Transaction Date | 2013-06-13 |
| Transaction Price | $870,000 |
| Buyer | TIAN YUAN |
| Seller | ADDISON ELVIA J |
1405 Eucalyptus Ave Newman Multifamily Investment
Neighborhood occupancy near 93% and a modest rent-to-income profile suggest stable leasing dynamics, according to WDSuite’s CRE market data. Positioned in suburban Stanislaus County, the property serves workforce renters drawn by value and commute access within the Modesto region.
This suburban Newman location offers a quiet residential setting with essential services accessible within the Modesto, CA metro. Amenity density is limited for cafés, restaurants, parks, and pharmacies at the neighborhood level, while grocery access sits closer to the metro middle. For investors, this points to a value-oriented renter base that prioritizes housing and commute practicality over lifestyle retail.
Neighborhood-level occupancy is roughly 92.8%, placing it above the national median and supportive of leasing stability. Median contract rents in the area sit below major coastal metros, and the neighborhood’s rent-to-income ratios indicate relatively low affordability pressure — a backdrop that can support retention and measured rent growth management. These conditions are based on CRE market data from WDSuite for the Modesto, CA region.
Within a 3-mile radius, demographics show population growth over the past five years with further increases projected through 2028. Households are expanding faster than population, and average household size is trending lower, which can translate into a larger tenant base and steady demand for rental units. The renter-occupied share within this 3-mile area is about 30%, indicating a moderate renter concentration that supports multifamily absorption while still competing with ownership options.
Home values in the neighborhood test above the national midpoint and ownership costs run higher relative to income than many inland markets. This high-cost ownership backdrop can reinforce renter reliance on multifamily housing, aiding lease retention and stabilizing occupancy. School ratings in the neighborhood benchmark below the national average, which may temper appeal for some renter segments but typically aligns with workforce housing demand profiles.
Safety indicators present a mixed but serviceable profile for workforce housing. Compared with neighborhoods nationwide, violent and property offense measures align closer to the safer side of the spectrum, while the broader composite crime signal sits nearer the national middle, based on WDSuite’s CRE market data.
Recent-year trends show some volatility, including upticks in estimated incident rates. For investors, the takeaway is to underwrite with conservative assumptions, emphasize on-site lighting and access controls, and monitor metro and neighborhood trend lines rather than block-level readings. Relative performance can vary across the Modesto, CA metro, so positioning within the submarket and property operations will meaningfully influence outcomes.
Regional employers accessible by car help support a commuter renter base, with proximity to manufacturing/consumer goods and tech offices that can bolster leasing and retention for workforce-oriented units.
- Clorox — consumer goods (39.4 miles)
- IBM Silicon Valley Lab — technology R&D (41.2 miles)
This 30-unit asset in Newman benefits from a stable, value-oriented renter base and neighborhood occupancy near the national median or better, supporting consistent collections and reduced downtime. According to CRE market data from WDSuite, rent-to-income levels are manageable in this neighborhood, providing room for disciplined rent optimization while maintaining retention.
Within a 3-mile radius, recent population gains and faster household growth point to renter pool expansion, aided by a high-cost ownership landscape that sustains multifamily demand. Limited lifestyle amenities suggest a pragmatic, workforce profile; thoughtful common-area improvements and curb appeal can enhance competitiveness versus older stock across the Modesto region.
- Neighborhood occupancy near 93% supports leasing stability and consistent cash flow.
- Manageable rent-to-income levels create room for measured rent growth without elevating retention risk.
- 3-mile population and household growth expand the tenant base and support absorption.
- Ownership costs above national midpoints reinforce renter reliance on multifamily housing.
- Risks: limited nearby amenities and recent safety volatility warrant conservative underwriting and operational focus.