The Petersons bought the three-bedroom, two-bath house in October 2000 for $177,000, according to the Stanislaus County Recorder's Office. Records indicate that the couple refinanced the house in February 2002.
Wallace said the home is in an excellent location, in the La Loma neighborhood.
The Petersons' home was built in 1949. Wallace said he has been inside, and he called it very desirable: "It's an attractive house. The previous owner had gone through it. The kitchen had been updated. The garage had been converted into a family room, which is pretty common in that neighborhood."
In Modesto's appreciating real estate market, the home's value has gone up about $100,000 in less than three years, according to Wallace.
"Without the stigma, probably $275,000, plus or minus $5,000," Wallace said about the listing price for the house.