1535 Melrose Avenue, Modesto, CA 95350, Modesto, 95350 - 3 bed, 2 bath
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1535 Melrose Avenue
Modesto, CA 95350
ACTIVE
CONDITION: FAIR
3Beds
2Baths
2,095Sq Ft
34,500Lot Size
Property Price
LIST PRICE$650,000
EST. MARKET VALUE
$648,236
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $650,000—positioned slightly above the $648,237 Fair Market Value. While the equity gap is minimal, the massive 34,500 Sq. Ft. lot provides significant upside for future expansion or commercial development. Featuring a Condition Rating of 4, the home is functional but requires modernization of its 1946 systems. Its strategic location near established businesses makes this a versatile Asset ideal for Buy-and-Hold Investors or Owner-Occupants seeking long-term growth potential.
Estimated Market Value
$648,236
Based on Realkey algorithm analyzing recent comparable sales in Modesto.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1535 Melrose Avenue Subject | $650,000* List Price | 3 | 2 | 2,095 | $309 | - |
A 1535 Melrose Avenue Active | $699,900 List Price | 3 | 2 | 2,094 | $334 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1946, this property shows signs of mid-range cosmetic updates including laminate flooring and painted kitchen cabinets that appear to be 15-20 years old. While the home is functional and move-in ready, the kitchen and bathrooms are dated by modern standards, and the overall age of the structure suggests that systems like HVAC and electrical may require updates to meet current standards.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 34500, living area = 1294.
- Expansive Lot Size
The property features a massive 34,500 Sq. Ft. lot, providing rare and significant space for future expansion, ADU development, or large-scale outdoor projects.
- Strategic Live/Work Potential
With high visibility and a location surrounded by established businesses, this property offers unique versatility for a home-based business or commercial investment.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =34500, other record lot size in square feet = 34412. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1294, other record living area = 2094.
- High Price per Square Foot
The listing price of $650,000 for a 1,294 Sq. Ft. home represents a high cost per square foot, which may be a barrier for traditional residential buyers.
- Vintage Construction
Built in 1946, the residence likely requires modernization of its original systems and finishes to meet contemporary living standards and energy efficiency.
About 1535 Melrose Avenue
Beautiful 3 bedroom, 2 bathroom home situated on a spacious 34,500 Sq. Ft. lot in a prime location surrounded by established businesses and growth. This unique property offers endless potential for a growing family, business opportunity, or future expansion. Conveniently located with great visibility and easy access, the possibilities are endless for those looking to live, work, or invest in a highly desirable area.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1946
- Lot Size
- 34,500 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 2,095 | 1,592.041 |
| Lot Size | 34,500 | 6,846.312 |
| Price | $650.0K | $462.1K |
| Price per sq ft | $310 | $298 |
| Built year | 1946 | 1977 |
| HOA | $0 | $155 |
| Days on market | 124 | 50 |
Pricing History
Listed for Sale
May 8, 2026
$650,000
Initial Listing
Sold
Sep 19, 2012
$115,000
Public Record
Sold
Sep 1, 2006
$275,000
Public Record