2401 16th St · San Francisco, CA 94110

$993,775

None bd · 5.0 ba · 5,832 sqft · Condo public records · 145 Days on market

Built 1909 Fair condition $170/sqft · 72% below area Est $1.438M · 31% under

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Introducing a prime ground floor commercial condo in the heart of San Francisco, this distinguished 2,384 SF condo stands as a testament to timeless architecture, dating back to 1909. Zoned UMU, the property offers a versatile canvas for a range of office and commercial endeavors including retail and food and beverage. Boasting a location in the thriving market of San Francisco, this property presents an exceptional prospect for the astute investor seeking to capitalize on the city's dynamic commercial landscape. With its rich historical significance and prime positioning, this property stands poised to deliver enduring value and potential for the discerning investor.

What this means for you Summary

Snapshot

• This is a ?-bed/5.0-bath condo listed at $994k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-11k ($-130k/yr) — negative.
• To cash-flow at today's rent, offer at most $407k (59.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $356k (64.2% below list).
• Recommended offer: $356k (64.2% below list) — sets the bar for 1% rule.
• Cap rate -6.8% vs local median 2.2% in San Francisco — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 76/100 on livability (#90 in CA, #3,143 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• San Francisco Unified (urban): math 50% / reading 56% proficiency, ranked #322 of 1,400 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lilienthal (Claire) Elementary (669 students, 19% FRL); Giannini (A.P.) Middle (1,192 students, 34% FRL); Lowell High (2,632 students, 37% FRL) — zoned schools average 30% FRL vs 49% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+14.5%/yr); 231 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $30k of value loss. Plan a longer hold.
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($875k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; HOA is 134% of rent; built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $355,939 (64.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 64% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
7. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
8. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
9. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
10. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
11. 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?
12. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
13. 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.
14. 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.
15. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.36% ✗
• Cap rate: -6.78%
• Cash-on-cash: -46.68%
• DSCR: -1.08
• GRM: 23.3

CMA / ARV

• ARV (median comp): $1,437,692
• List price: $993,775
• Delta: -30.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2950 21st St	0.57mi	10/—	5,350 (-8%)	2mo	$1,900,000	$355	58
674 Haight St	1.32mi	7/4.0	5,950 (+2%)	0mo	$2,899,000	$487	58
3312-3316 17th St	0.53mi	4/—	6,449 (+11%)	1mo	$3,200,000	$496	57
924 Grove St	1.41mi	6/5.5	5,519 (-5%)	2mo	$7,500,000	$1,359	52
2005 18th St	0.50mi	3/4.5	4,535 (-22%)	1mo	$5,750,000	$1,268	49
1040-1042 Howard St	0.95mi	4/—	6,540 (+12%)	1mo	$1,850,000	$283	44
149-153 Buchanan St	0.99mi	8/3.0	5,427 (-7%)	3mo	$3,825,000	$705	43
572-574 Hill St	1.44mi	6/5.0	5,075 (-13%)	1mo	$9,400,000	$1,852	42
733-743 Waller St	1.42mi	12/—	6,615 (+13%)	1mo	$4,078,000	$616	42
281-283 Castro St	1.34mi	4/5.0	4,998 (-14%)	1mo	$4,550,000	$910	40
252 Chattanooga St	1.26mi	8/—	4,632 (-21%)	2mo	$2,410,000	$520	38
615 Minna St	0.89mi	13/4.0	4,704 (-19%)	2mo	$2,400,000	$510	34

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: -1.97×
• Total profit: $-827,404
• Equity at exit: $148,175

10-year hold

• IRR: —
• Equity multiple: -4.41×
• Total profit: $-1,505,463
• Equity at exit: $85,923

Cash invested: $278,257 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City San Francisco: 0 Strongly Tenant-Friendly · D+57

SF Rent Ordinance + Eviction Protections; relocation $10k+; one of strictest in US.

Methodology + full state rankings →

ZIP-level market 94110

• Rents YoY: 14.5%
• Active inventory: 231
• Price-to-rent: 23.3×

Monthly cashflow live

• Estimated rent: $3,559 medium
• Mortgage (P&I): −$5,211
• Tax from tax record: −$3,236 /mo · $38,838/yr
• Insurance: −$414
• HOA est. from 1 same-building comp: −$4,774
• Vacancy / Maint / Mgmt: −$747
• Net cashflow: $-10,824

Break-even live

Break-even rent $17,261

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-10,262	-5% $-10,543	+0% $-10,824	+5% $-11,105	+10% $-11,387
Rent	-10% $-11,105	-5% $-10,965	+0% $-10,824	+5% $-10,684	+10% $-10,543
Rate	-1.0pp $-10,324	-0.5pp $-10,571	base $-10,824	+0.5pp $-11,082	+1.0pp $-11,344

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: $248,444
• Closing costs: $29,813
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Isis St Unit 4 San Francisco, CA	1.0	1.0	5526	$3,200	$0.58	93d	1	0.42mi

HOA detail $0/mo · $0/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $993,775 Coming Soon 145 DOM
2. 2026-08-06
   days on market $993,775 Coming Soon 143 DOM
3. 2026-08-05
   days on market $993,775 Coming Soon 142 DOM
4. 2026-08-04
   days on market $993,775 Coming Soon 141 DOM
5. 2026-08-03
   days on market $993,775 Coming Soon 140 DOM
6. 2026-07-31
   days on market $993,775 Coming Soon 137 DOM
7. 2026-07-30
   days on market $993,775 Coming Soon 136 DOM
8. 2026-07-30
   days on market $993,775 Coming Soon 135 DOM
9. 2026-07-28
   days on market $993,775 Coming Soon 134 DOM
10. 2026-07-26
    days on market $993,775 Coming Soon 132 DOM
11. 2026-07-24
    days on market $993,775 Coming Soon 130 DOM
12. 2026-07-23
    days on market $993,775 Coming Soon 129 DOM
13. 2026-07-22
    days on market $993,775 Coming Soon 128 DOM
14. 2026-07-21
    days on market $993,775 Coming Soon 127 DOM
15. 2026-07-20
    days on market $993,775 Coming Soon 126 DOM
16. 2026-07-18
    days on market $993,775 Coming Soon 124 DOM
17. 2026-07-18
    days on market $993,775 Coming Soon 123 DOM
18. 2026-07-16
    days on market $993,775 Coming Soon 122 DOM
19. 2026-07-15
    days on market $993,775 Coming Soon 121 DOM
20. 2026-07-14
    days on market $993,775 Coming Soon 120 DOM
21. 2026-07-13
    days on market $993,775 Coming Soon 119 DOM
22. 2026-07-13
    days on market $993,775 Coming Soon 118 DOM
23. 2026-07-11
    days on market $993,775 Coming Soon 117 DOM
24. 2026-07-10
    days on market $993,775 Coming Soon 116 DOM
25. 2026-07-09
    days on market $993,775 Coming Soon 115 DOM
26. 2026-07-07
    days on market $993,775 Coming Soon 113 DOM
27. 2026-07-06
    days on market $993,775 Coming Soon 112 DOM
28. 2026-07-06
    days on market $993,775 Coming Soon 111 DOM
29. 2026-07-05
    days on market $993,775 Coming Soon 110 DOM
30. 2026-07-03
    days on market $993,775 Coming Soon 109 DOM
31. 2026-07-02
    days on market $993,775 Coming Soon 108 DOM
32. 2026-07-01
    days on market $993,775 Coming Soon 107 DOM
33. 2026-06-30
    days on market $993,775 Coming Soon 106 DOM
34. 2026-06-29
    days on market $993,775 Coming Soon 105 DOM
35. 2026-06-28
    days on market $993,775 Coming Soon 104 DOM
36. 2026-06-27
    days on market $993,775 Coming Soon 103 DOM
37. 2026-06-26
    days on market $993,775 Coming Soon 102 DOM
38. 2026-06-24
    days on market $993,775 Coming Soon 100 DOM
39. 2026-06-22
    days on market $993,775 Coming Soon 98 DOM
40. 2026-06-21
    days on market $993,775 Coming Soon 97 DOM
41. 2026-06-18
    days on market $993,775 Coming Soon 94 DOM
42. 2026-06-17
    days on market $993,775 Coming Soon 93 DOM
43. 2026-06-16
    days on market $993,775 Coming Soon 92 DOM
44. 2026-06-15
    days on market $993,775 Coming Soon 91 DOM
45. 2026-06-13
    days on market $993,775 Coming Soon 89 DOM
46. 2026-06-13
    days on market $993,775 Coming Soon 88 DOM
47. 2026-06-09
    days on market $993,775 Coming Soon 85 DOM
48. 2026-06-08
    days on market $993,775 Coming Soon 84 DOM
49. 2026-06-07
    days on market $993,775 Coming Soon 83 DOM
50. 2026-06-04
    days on market $993,775 Coming Soon 80 DOM

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $38,838 · $3,236/mo
• Projected year-2 tax: $38,838 · $3,236/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $42,713
• − Mortgage interest: −$55,667
• − Property taxes: −$38,838
• − Insurance: −$4,969
• − Repairs & maintenance: −$3,417
• − Management: −$3,417
• − HOA: −$57,288
• − Depreciation: −$28,910
• Taxable loss: −$149,793
• Est. tax savings @ 24.0%: +$35,950
• After-tax cash flow: $-93,939/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $145,800–$262,440 screening

This multi-family property requires moderate repairs and maintenance to improve its exterior condition and enhance its value for both resale and rental purposes.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof) — No roof visible in photos
• Major Hvac (hvac) — No HVAC unit visible in photos
• Major Windows (windows) — No windows visible in photos
• Major Electrical (electrical) — No electrical panel visible in photos
• Major Plumbing (plumbing) — No plumbing fixtures visible in photos
• Major Exterior (exterior) — No exterior walls or siding visible in photos

Repairs flagged

• Moderate Exterior walls — Visible weathering and minor cracking
• Moderate Roof inspection — Appearance suggests potential need for inspection
• Moderate Siding repair — Signs of wear
• Minor Landscaping maintenance — Overgrown areas
• Minor Fencing repair — Aged appearance

Value-add opportunities

• Both Paint exterior walls — Fresh paint can enhance curb appeal and property value ↑
• Both Landscaping improvement — A well-maintained yard can increase both resale and rental value ↑
• Both Roof inspection and repair — A sound roof is crucial for both safety and property value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Moscone (George R.) Elementary Middle Presidio Middle High S.f. International High

Schools (NCES district)

• District: San Francisco Unified
• NCES district ID: 0634410
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $81,249
• Composite: 50.14/100
• National rank: #4088
• State rank: #322 of 1400 in CA

B Composite livability gradescore 76/100

Livability — San Francisco

• Score: 76/100
• State rank: #90
• US rank: #3143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Francisco, CA
• County: San Francisco County · 1,030,936 people
• City population: 827,552
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 66,865
• Household income: $158,351
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 8% of renters

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Population outlook (San Francisco County) Hauer SSP2

• Today (2025): 1,030,936 people
• By 2030: 1,110,409 · +7.7%
• By 2040: 1,270,010 · +23.2%
• By 2050: 1,435,001 · +39.2%
• By 2075: 1,779,074 · +72.6%
• By 2100: 1,966,767 · +90.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Hispanic / Latino 32% Asian 16% Two or more races 15% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 2%
• Foreign-born: 28% · Canada, China, Vietnam
• Languages at home: 58% English-only · Spanish 27% Chinese 5% Other Indo-European 2%

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Political lean MEDSL · San Francisco

• 2024 margin: Solid D (+64.8) · D 80.3% · R 15.5% · Other 4.1%
• 2008→2024 swing: -5.7pp toward R · 2008: 70.5pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+72.5 2016: D+76.1 2012: D+70.2 2008: D+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1385.62%
• Current HPI: 267.2424
• Rent YoY: ▲ 14.54%
• Metro: San Francisco-Oakland-Berkeley, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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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

Property tax history

+4.8%/yr

Latest (2014): $38,838 · +20.7% YoY. Source: county tax records.