609 Kettleman, Lodi, CA 95240, Lodi, 95240 - 3 bed, 2 bath
ACTIVE$749,000$1,371/sqft
Est. Value: $590,030
-21%
AboveEstimate
609 Kettleman, Lodi, CA 95240
3Beds
2Baths
1,371Sqft
8,255Lot
Price Vs. Estimate
The estimated value ($590,029.535) is $158,970.465 (21%) lower than the list price ($749,000). This property may be overpriced.
Key pros and cons
Top Pros:
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 = 8255, living area = 1371.
Top Cons:
Age Disparity Between Units: The significant age difference between the 1955 primary residence and the 2024 newly built unit may lead to varying maintenance requirements and tenant expectations across the property.
Compared to the nearby listings
Price:$749.0K vs avg $447.5K (+$301,500)89%
Size:1,371 sqft vs avg 1,418.5 sqft46%
Price/sqft:$546 vs avg $33995%
More Insights
Built in 1955 (71 years old).
Condition: This property consists of two distinct units. The newly built unit (611 W. Kettleman, 2024) is in excellent condition, featuring a modern kitchen with stainless steel appliances, contemporary bathrooms with new tiling and fixtures, and new flooring throughout. This unit is essentially brand new and meets current quality standards. The older unit (609 W. Kettleman, built 1955) has a very dated kitchen with older cabinets, countertops, and appliances, and an extremely outdated bathroom with yellow and brown tiles, both of which require substantial renovation. While the older unit's key areas are poor in style and functionality, the significant presence of a brand new, high-quality unit elevates the overall property condition to 'Good', as it is move-in ready with no immediate renovation required for a substantial portion of the property.
Year Built
1955
Close
-
List price
$749K
Original List price
-
Price/Sqft
$546
HOA
$0
Days on market
-
Sold On
-
MLS number
226003556
Home ConditionGood
Features
Patio
View-
About this home
Two homes on one lot in Lodi an investor's dream. Excellent investment opportunity featuring two separate units on one parcel. 609 W. Kettleman is a rented single-family residence offering 3 bedrooms and 1 bathroom with approximately 1,371 sq. ft. of living space. The home features hardwood floors and provides immediate rental income. 611 W. Kettleman is a newly built unit 2024 offering approximately 1,000 sq. ft. with 2 bedrooms plus a possible 3rd bedroom and 2 full bathrooms. The unit also includes a 195 sq. ft. laundry room that can double as additional storage. This unit is all-electric and equipped with fully paid solar, providing excellent energy efficiency and long-term savings. Ideal for investors or owner occupants seeking modern construction with income potential. This is a must see property.
J
Jason Spence
Listing Agent
Price History
Date
Event
Price
08/19/22
Sold
$390,000
Condition Rating
Good
This property consists of two distinct units. The newly built unit (611 W. Kettleman, 2024) is in excellent condition, featuring a modern kitchen with stainless steel appliances, contemporary bathrooms with new tiling and fixtures, and new flooring throughout. This unit is essentially brand new and meets current quality standards. The older unit (609 W. Kettleman, built 1955) has a very dated kitchen with older cabinets, countertops, and appliances, and an extremely outdated bathroom with yellow and brown tiles, both of which require substantial renovation. While the older unit's key areas are poor in style and functionality, the significant presence of a brand new, high-quality unit elevates the overall property condition to 'Good', as it is move-in ready with no immediate renovation required for a substantial portion of the property.
Pros & Cons
Pros
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 = 8255, living area = 1371.
Dual Income Potential: The property features two separate units on one parcel, providing significant income potential for investors or owner-occupants seeking to offset mortgage costs.
Brand New Construction (Unit 611): One of the units (611 W. Kettleman) was newly built in 2024, offering modern amenities, reduced maintenance, and contemporary appeal to tenants or occupants.
Energy Efficiency & Cost Savings: The new unit (611 W. Kettleman) is all-electric and equipped with fully paid solar, ensuring excellent energy efficiency and long-term utility savings.
Immediate Rental Income: The primary residence (609 W. Kettleman) is currently rented, providing immediate cash flow and a stable income stream from day one for the new owner.
Versatile Investment Opportunity: This property is ideal for both pure investors seeking rental income and owner-occupants looking to live in one unit while generating income from the other.
Cons
Age Disparity Between Units: The significant age difference between the 1955 primary residence and the 2024 newly built unit may lead to varying maintenance requirements and tenant expectations across the property.
Limited Information on Older Unit's Condition: While the 1955 unit has hardwood floors and is rented, the description lacks details on its overall condition, systems, or recent updates, potentially implying future renovation or maintenance costs.
Unspecified Rental Income/Lease Terms: Although immediate rental income is a strength, the specific rental amount and current lease terms for the occupied 1955 unit are not provided, which is crucial for a comprehensive investment analysis.