Regulations prevent us from showing live opportunities here. These are not actual properties, but an example of our marketplace and its functionality. Sign up for free to see live opportunities.*

1239 Citrus Dr, Modesto, California 95356, US

Est. IRR: 14.79%
Est. Yield: N/A
Est. Equity Multiple: N/A

Key Stats

Last updated: December 13, 2022, 02:59 am

Est. IRR: 14.79%
Est. Hold Period: 3 years
Est. Property Value: $404,965
Beds / Baths: 2 bd / 1 ba
Year Built: 1978
Sq. Ft.: 1,221
Discount to FMV: 36%
Discounted Value: $259,178

Asset Class (Home Equity Investment)

Home Equity Investments (HEIs) provides liquidity to 'equity-rich' homeowners without the need to take on more debt. They provide investors with a new way to invest in the equity in residential real estate, but without the associated costs such as mortgage, interest, property taxes, and maintenance costs.

About

Home Equity Investment in Modesto, CA

This owner-occupied home with 2 beds and 1 bath is located close to The Lakes Shopping Center (0.7 mi), Sherwood Park (1.3 mi), and Glenwood Plaza (2.6 mi).

The home sits on 0.15 acres with a total interior space of 1,221 square feet. The property was originally built in 1978 and was renovated in 2018, and includes stainless steel kitchen appliances, new ceiling fans, and modern lighting fixtures.

Local schools include Fred C. Beyer High School (1.3 mi) with a 5/10 rating, Orangeburg Christian School (1.3 mi) with a 7/10 rating, and Savage Middle School (2.0 mi) with a 5/10 rating. Nearby colleges include SEU NorCal (0.7 mi), Modesto Junior College (2.7 mi), and California State University, Stanislaus (11.8 mi)

The largest employers in the area include Memorial Medical Center (0.4 mi), Doctors Medical Center (1.7 mi), and Kaiser Permanente (2.1 mi).

The business plan would be classified as a long-term hold strategy because you are buying home equity at a discount to its fair market value.

5 Highlights about this deal:

The property is valued at $404,965 with a Zillow Zestimate of $368,600 (Nov 2022).
A similar 2 bed, 2 bath unit was sold in June 2022 for $430,000 within 0.26 miles of the property.
The Modesto area has a GDP of $2.4 billion, is surrounded by rich farmland, and has been honored by TreeCity USA over the decades. Modesto hosts an annual architecture festival and is home to Gallo Winery, the largest family owned winery in the US.
The area has witnessed a steady rate of growth over the years. Zillow estimates Modesto home values to have appreciated by 5.5% in the last 1 year.
With easy access to Downtown Modesto, Northeast Modesto provides a cozy, tree-filled neighborhood. Residents can travel quickly to Downtown Modesto to enjoy the shops, restaurants, museums, and art galleries located there