3701 COLONIAL DR, Modesto, CA 95356, Modesto, 95356 - 2 bed, 2 bath
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Modesto, CA 95356
This downstairs condominium represents a Strong Value Opportunity with a List Price of $190,000—positioned well below the $209,330 Fair Market Value by 9%. This valuation gap provides $19,330 in Instant Equity for buyers navigating this short sale. While the property holds a Fair Condition Rating with original 1980s finishes, the rare ground-floor access and proximity to Woodrow Elementary offer significant rental upside. This asset is a strategic acquisition for Buy-and-Hold Investors or Contractors looking to force appreciation through cosmetic updates.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3701 COLONIAL DR Subject | $190,000* List Price | 2 | 2 | 978 | $214 | - |
A 3701 Colonial Drive 156 Sold | $225,000 | 2 | 2 | 978 | $230 | 0.0 mi |
B 3701 Colonial Drive 164 Active | $229,000 List Price | 2 | 2 | 978 | $234 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1980, the property is 46 years old. While the flooring has been updated with modern vinyl plank, the kitchen features original 1980s cabinetry and dated laminate countertops. It is functional and move-in ready but requires significant cosmetic updates and likely system overhauls due to age.
Listed at $190,000, the property is priced significantly below its 2022 sale price of $275,000, offering substantial equity potential for investors or savvy buyers.
As a rare downstairs unit, this home provides convenient, stair-free access which is a highly sought-after feature for long-term mobility and ease of entry.
The property is ideally located within walking distance of both Woodrow Elementary and Grace M. Davis High School, adding convenience for families with children.
Being a short sale, the transaction involves a more complex and potentially lengthy closing process that is subject to third-party lender approval.
The association fee of $533 per month is relatively high for this price point, which may impact the overall affordability and debt-to-income ratio for prospective buyers.
Rare find downstairs unit. THIS IS A SHORT SALE !
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades 6-8 • 1.9 mi
Grades 9-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 978 | 1,030.5 | 36% |
| Lot Size | 2 | 1,154 | 7% |
| Price | $190.0K | $266.4K | 21% |
| Price per sq ft | $194 | $263 | 14% |
| Built year | 1980 | 1980 | 50% |
| HOA | $533 | $494 | 71% |
| Days on market | 34 | 216 | 7% |
May 3, 2026
$190,000
Initial Listing
Apr 18, 2002
$63,000
Public Record