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The phrase "actually a modest amount" is correct and usable in written English.
It can be used to clarify or downplay the significance of a quantity or value in a discussion or argument.
Example: "While some may think the budget is excessive, it's actually a modest amount compared to last year's expenditures."
Alternatives: "merely a small amount" or "just a reasonable sum".
Exact(1)
It's actually a modest amount of data relative to the possibilities of the storage medium – in this case, a quartz silica structure which, using 5D optical storage techniques, can eventually achieve a max storage capacity of 360 terabytes on a disk just 3.75 inches in diameter.
Similar(59)
Various studies have suggested that the cost of providing convenient access to hydrogen to a majority of Americans would be a few tens of billions of dollars, which sounds a lot but is actually quite a modest amount by the oil industry's standards.
Due to the slight differences in architecture, the simulation actually beats the prediction by a modest amount.
"It may sound like a modest amount but that's actually like reversing the age clock by about one to two years," said Professor Kirk Erickson, a neuroscientist at the University of Pittsburgh.
The effect is to produce a region where a modest amount of tidal dissipation actually promotes core cooling, similar to the peak in the evolving models (Fig. 9a).
This paid for a modest amount of equipment & provided Actors Equit.
Set a realistic goal to lose a modest amount.
It would also pay Mr. Eich a modest amount.
He always seemed to have a modest amount of money.
So he invested a modest amount and was hoping for a good return".
One of the nice things about getting older is a modest amount of stored experience.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com