2399 E 14th St #105 · San Leandro, CA 94577

$49,989

1 bd · 1.0 ba · 420 sqft · Manufactured public records · 20 Days on market

Built 1966 $119/sqft · 20% below area Est $62k · 20% under ↓ 49% since listing

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this incredibly budget-friendly, move-in ready home in downtown San Leandro. Offering simple, low-maintenance living, this space is clean, functional, and updated with practical touches throughout. The bright, straightforward floor plan features durable, easy-to-clean laminate flooring in the main living areas. You’ll appreciate the highly functional kitchen, which comes equipped with an impressive suite of stainless steel appliances (gas range, refrigerator, and hood), along with warm wood shaker style cabinetry and solid surface countertop. The bathroom has also been renovated, featuring clean tile work, walk in shower and modern fixtures. Additional perks include mirrored closet doors, a frosted glass entry door and a rare private, enclosed backyard perfect for a mini shade garden. Located on a tree-lined lot, this home is ideally situated near BART, shopping, and public transportation, with quick access to Highways 580 and 880 for a super easy commute. This is the perfect, no-nonsense opportunity to own your own updated space for a fraction of what you'd expect to pay in the East Bay

Key facts

• Listed 20 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 32.8% vs local median 2.0% in San Leandro — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#289 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities C-, crime F, cost of living F.
• San Leandro Unified (urban): math 28% / reading 42% proficiency, ranked #831 of 1,400 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mckinley Elementary (450 students, 80% FRL); Bancroft Middle (899 students, 76% FRL); San Leandro High (2,566 students, 70% FRL) — zoned schools average 76% FRL vs 49% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.7%/yr); 108 active listings in the ZIP; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $49,239 (1.5% below list)

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 3.67% ✓
• Cap rate: 32.80%
• Cash-on-cash: 94.65%
• DSCR: 5.21
• GRM: 2.3

CMA / ARV

• ARV (median comp): $62,500
• List price: $49,989
• Delta: -20.02%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2399 E 14th St #105	0.00mi	1/1.0	420 (0%)	1mo	$46,000	$110	99
2399 E 14th St #66	0.06mi	1/1.0	480 (+14%)	3mo	$46,000	$96	71
2399 E 14th St #56	0.06mi	1/1.0	480 (+14%)	23mo	$33,000	$69	54
2399 E 14th St #71	0.12mi	1/1.0	480 (+14%)	21mo	$55,000	$115	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.74% rent growth · sell at horizon

5-year hold

• IRR: 94.1%
• Equity multiple: 5.28×
• Total profit: $59,947
• Equity at exit: $7,454

10-year hold

• IRR: 96.6%
• Equity multiple: 10.55×
• Total profit: $133,666
• Equity at exit: $4,322

Cash invested: $13,997 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 94577

• Rents YoY: 1.7%
• Active inventory: 108
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,835 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $1,104

Break-even live

Break-even rent $437

Max offer price $49,989

Occupancy floor 35%

Sensitivity live

Price	-10% $1,139	-5% $1,121	+0% $1,104	+5% $1,087	+10% $1,069
Rent	-10% $959	-5% $1,032	+0% $1,104	+5% $1,177	+10% $1,249
Rate	-1.0pp $1,129	-0.5pp $1,117	base $1,104	+0.5pp $1,091	+1.0pp $1,078

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $12,497
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-06
   status Pending 1123-char remark

   Show marketing remark (1123 chars)

   Check out this incredibly budget-friendly, move-in ready home in downtown San Leandro. Offering simple, low-maintenance living, this space is clean, functional, and updated with practical touches throughout. The bright, straightforward floor plan features durable, easy-to-clean laminate flooring in the main living areas. You’ll appreciate the highly functional kitchen, which comes equipped with an impressive suite of stainless steel appliances (gas range, refrigerator, and hood), along with warm wood shaker style cabinetry and solid surface countertop. The bathroom has also been renovated, featuring clean tile work, walk in shower and modern fixtures. Additional perks include mirrored closet doors, a frosted glass entry door and a rare private, enclosed backyard perfect for a mini shade garden. Located on a tree-lined lot, this home is ideally situated near BART, shopping, and public transportation, with quick access to Highways 580 and 880 for a super easy commute. This is the perfect, no-nonsense opportunity to own your own updated space for a fraction of what you'd expect to pay in the East Bay

2. 2026-04-16
   listed $49,989 Active 1123-char remark

   Show marketing remark (1123 chars)

   Check out this incredibly budget-friendly, move-in ready home in downtown San Leandro. Offering simple, low-maintenance living, this space is clean, functional, and updated with practical touches throughout. The bright, straightforward floor plan features durable, easy-to-clean laminate flooring in the main living areas. You’ll appreciate the highly functional kitchen, which comes equipped with an impressive suite of stainless steel appliances (gas range, refrigerator, and hood), along with warm wood shaker style cabinetry and solid surface countertop. The bathroom has also been renovated, featuring clean tile work, walk in shower and modern fixtures. Additional perks include mirrored closet doors, a frosted glass entry door and a rare private, enclosed backyard perfect for a mini shade garden. Located on a tree-lined lot, this home is ideally situated near BART, shopping, and public transportation, with quick access to Highways 580 and 880 for a super easy commute. This is the perfect, no-nonsense opportunity to own your own updated space for a fraction of what you'd expect to pay in the East Bay

3. 2026-04-14
   historical $49,989 1123-char remark

   Show marketing remark (1123 chars)

   Check out this incredibly budget-friendly, move-in ready home in downtown San Leandro. Offering simple, low-maintenance living, this space is clean, functional, and updated with practical touches throughout. The bright, straightforward floor plan features durable, easy-to-clean laminate flooring in the main living areas. You’ll appreciate the highly functional kitchen, which comes equipped with an impressive suite of stainless steel appliances (gas range, refrigerator, and hood), along with warm wood shaker style cabinetry and solid surface countertop. The bathroom has also been renovated, featuring clean tile work, walk in shower and modern fixtures. Additional perks include mirrored closet doors, a frosted glass entry door and a rare private, enclosed backyard perfect for a mini shade garden. Located on a tree-lined lot, this home is ideally situated near BART, shopping, and public transportation, with quick access to Highways 580 and 880 for a super easy commute. This is the perfect, no-nonsense opportunity to own your own updated space for a fraction of what you'd expect to pay in the East Bay

4. 2019-12-04
   soldstatus $85,000 Sold 743-char remark

   Show marketing remark (743 chars)

   We have this great remodeled two bedroom one bath home now available that's an inexpensive way to live in the Bay Area! All new exterior with custom framing and wood skirting, dual pane low LV Slider windows and sliding door, standard roof with new roof coating, and custom awning. All new interior consists of new wiring, R12 insulation custom texture on new Sheetrock walls, custom two tone paint, custom flooring through out home, custom tiling in kitchen, custom kitchen cabinets & counter tops, all new stainless steel appliances, double sink with sprayer & soap dispenser. Beautiful custom remodel in bathroom consists of custom tile shower, tile flooring, and large vanity. It's a must see home located in beautiful San Leandro.

5. 2019-11-04
   status Back On Market 743-char remark

   Show marketing remark (743 chars)

   We have this great remodeled two bedroom one bath home now available that's an inexpensive way to live in the Bay Area! All new exterior with custom framing and wood skirting, dual pane low LV Slider windows and sliding door, standard roof with new roof coating, and custom awning. All new interior consists of new wiring, R12 insulation custom texture on new Sheetrock walls, custom two tone paint, custom flooring through out home, custom tiling in kitchen, custom kitchen cabinets & counter tops, all new stainless steel appliances, double sink with sprayer & soap dispenser. Beautiful custom remodel in bathroom consists of custom tile shower, tile flooring, and large vanity. It's a must see home located in beautiful San Leandro.

6. 2019-09-23
   status Pending 743-char remark

   Show marketing remark (743 chars)

   We have this great remodeled two bedroom one bath home now available that's an inexpensive way to live in the Bay Area! All new exterior with custom framing and wood skirting, dual pane low LV Slider windows and sliding door, standard roof with new roof coating, and custom awning. All new interior consists of new wiring, R12 insulation custom texture on new Sheetrock walls, custom two tone paint, custom flooring through out home, custom tiling in kitchen, custom kitchen cabinets & counter tops, all new stainless steel appliances, double sink with sprayer & soap dispenser. Beautiful custom remodel in bathroom consists of custom tile shower, tile flooring, and large vanity. It's a must see home located in beautiful San Leandro.

7. 2019-08-30
   listed $98,000 Active-REO 743-char remark

   Show marketing remark (743 chars)

   We have this great remodeled two bedroom one bath home now available that's an inexpensive way to live in the Bay Area! All new exterior with custom framing and wood skirting, dual pane low LV Slider windows and sliding door, standard roof with new roof coating, and custom awning. All new interior consists of new wiring, R12 insulation custom texture on new Sheetrock walls, custom two tone paint, custom flooring through out home, custom tiling in kitchen, custom kitchen cabinets & counter tops, all new stainless steel appliances, double sink with sprayer & soap dispenser. Beautiful custom remodel in bathroom consists of custom tile shower, tile flooring, and large vanity. It's a must see home located in beautiful San Leandro.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,018
• − Mortgage interest: −$2,800
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$1,454
• Taxable income: $13,241
• Est. tax owed @ 24.0%: −$3,178
• After-tax cash flow: $10,071/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: San Leandro Unified
• NCES district ID: 0634680
• Math proficiency: 28% ▲ 3.00%
• Reading proficiency: 42% ▲ 5.00%
• Median HH income: $63,377
• Composite: 34.23/100
• National rank: #10252
• State rank: #831 of 1400 in CA

Livability — San Leandro

• Score: 68/100
• State rank: #289
• US rank: #9768

Category grades

Amenities C- Commute A+ Cost of living F Crime F Employment A+ Housing B Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Leandro, CA
• County: Alameda County · 1,614,355 people
• City population: 88,086
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 46,317
• Household income: $108,772
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 2005.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Hispanic / Latino 31% Asian 28% White 23% Two or more races 14% Black 12% Native American 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Russian 2% Italian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, China, Vietnam
• Languages at home: 51% English-only · Spanish 23% Chinese 10% Tagalog/Filipino 7%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -867.55%
• Current HPI: 265.2446
• Rent YoY: ▲ 1.74%
• Metro: San Francisco-Oakland-Berkeley, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-49.0% since first listed

7 events — show timeline

• 2026-05-06 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-16 Listed $49,989 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-14 Coming Soon $49,989 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-12-04 Sold (MLS) $85,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-11-04 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-09-23 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-08-30 Listed $98,000 bridgeMLS, Bay East AOR, or Contra Costa AOR