2403 Lever Blvd · Stockton, CA 95206

$335,000

3 bd · 1.0 ba · 1,235 sqft · SingleFamily public records · 42 Days on market

Built 1955 6,251 sqft lot $271/sqft · 9% below area Est $369k · 9% under

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Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +11.7/15.0
• DSCR +4.0/10.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Estate sale being sold as is. No auction or court confirmation required. Excellent condition with updated kitchen and baths, newer floors, dual pane windows, and newer window coverings. Lots of possibilities for parcel that's fenced, front and rear, two out-buildings, and two front gates, one that's extra wide.

Key facts

• Updated baths
• Updated kitchen
• Newer floors

Tags

• UPDATED KITCHEN
• UPDATED BATHS
• NEWER FLOORS
• DUAL PANE WINDOWS
• NEWER WINDOW COVERINGS
• FENCED PARCEL

Property features AI

Finance

• HOA & community: No HOA; Not a senior community

Exterior

• Parking: Attached covered enclosed parking; Driveway with sidewalk/curb/gutter
• Utilities: 220 volt electric service; Public water; Public sewer; Irrigation served by public district
• Home design: Detached single-family residence; One story; Built in 1955
• Construction: Composition roof
• Exterior features: Front and back yard fencing with cross-fenced area; Garden; Shed/storage structure; Curb, gutter and sidewalk

Interior

• Kitchen: Granite counter; Hood over range; Dishwasher; Freestanding electric range; Dining area space in kitchen
• Bedrooms: 3 bedrooms; Master bedroom with closet
• Bathrooms: 1 full bathroom; Master bathroom with stone finishes, shower stall and window; Additional bathroom features include shower stall and stone
• Heating & cooling: Wall furnace (natural gas); Ceiling fans; Wall-mounted cooling units
• Interior features: Cathedral ceiling; Dual-pane windows with screens; Uncovered patio
• Laundry & utility: Laundry inside with hookups only; Electric hookup for laundry; Laundry area has cabinets and space for freezer/refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $-4 ($-48/yr) — negative.
• To cash-flow at today's rent, offer at most $334k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (22.4% below list).
• Recommended offer: $260k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.6% in Stockton — 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 57/100 on livability (#734 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, health & safety A, amenities A-; Watch: employment C-, crime F, commute F.
• Stockton Unified (urban): math 23% / reading 46% proficiency, ranked #295 of 517 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: San Joaquin Elementary (746 students, 70% FRL); Edison High (math 20% / reading 41%, grade F, #710 of 1,170 statewide, top 61%, 2,558 students, 74% FRL).
• Market conditions: Rents soft (-0.6%/yr); 139 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,779 units permitted in San Joaquin County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• San Joaquin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($325k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $259,833 (22.4% 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 42 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 10.7

CMA / ARV

• ARV (median comp): $369,393
• List price: $335,000
• Delta: -9.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2453 Lever Blvd	0.06mi	3/1.0	1,134 (-8%)	0mo	$330,000	$291	84
769 Colorado Ave	0.07mi	3/1.0	1,134 (-8%)	4mo	$265,000	$234	80
2353 Georgia Ave	0.05mi	3/2.0	1,134 (-8%)	5mo	$330,000	$291	76
1232 Denver A Ct	0.36mi	3/2.0	1,180 (-4%)	4mo	$210,000	$178	69
1013 Irene St	0.46mi	3/2.0	1,218 (-1%)	4mo	$315,000	$259	69
1288 Derrick Dr	0.42mi	3/2.0	1,134 (-8%)	0mo	$360,000	$317	63
1328 Luna Ln	0.39mi	3/2.0	1,122 (-9%)	3mo	$420,000	$374	60
364 W 7 Th	0.54mi	3/2.0	1,291 (+4%)	6mo	$355,000	$275	58
1156 Derrick Dr	0.37mi	3/2.0	1,357 (+10%)	7mo	$390,000	$287	56
2723 S Van Buren St	0.66mi	3/2.0	1,306 (+6%)	6mo	$394,000	$302	50
1662 Lever Blvd	0.61mi	3/2.0	1,085 (-12%)	2mo	$347,500	$320	45
2510 S Harrison St	0.47mi	4/2.0 (+1)	1,400 (+13%)	4mo	$442,000	$316	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.34×
• Total profit: $-62,273
• Equity at exit: $49,950

10-year hold

• IRR: -19.2%
• Equity multiple: 0.10×
• Total profit: $-84,467
• Equity at exit: $28,965

Cash invested: $93,800 (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 95206

• Rents YoY: -0.6%
• Active inventory: 139
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,598 high
• Mortgage (P&I): −$1,757
• Tax from tax record: −$160 /mo · $1,924/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $-4

Break-even live

Break-even rent $2,603

Max offer price $334,295

Occupancy floor 95%

Sensitivity live

Price	-10% $186	-5% $91	+0% $-4	+5% $-99	+10% $-194
Rent	-10% $-209	-5% $-107	+0% $-4	+5% $99	+10% $201
Rate	-1.0pp $165	-0.5pp $81	base $-4	+0.5pp $-91	+1.0pp $-179

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 W 6th St Stockton, CA	2.0	1.0	720	$1,850	$2.57	5d	1	0.94mi
137 W 3rd St Stockton, CA	2.0	1.0	833	$1,795	$2.15	25d	1	0.94mi
114 E 4th St Stockton, CA	2.0	1.0	950	$1,750	$1.84	25d	1	1.05mi
2234 Wall St Stockton, CA	4.0	2.0	1452	$2,800	$1.93	16d	1	1.08mi
2234 Wall St Stockton, CA	4.0	2.0	1452	$2,800	$1.93	13d	1	1.08mi
1107 Le Corbusier Ct Stockton, CA	4.0	2.0	1200	$2,500	$2.08	12d	1	1.09mi
3579 Turnpike Rd Stockton, CA	3.0	2.0	1500	$2,800	$1.87	12d	1	1.13mi

Listing history 10 events

1. 2026-06-21
   days on market $335,000 Active 42 DOM
2. 2026-06-18
   days on market $335,000 Active 39 DOM
3. 2026-06-17
   days on market $335,000 Active 38 DOM
4. 2026-06-16
   days on market $335,000 Active 37 DOM
5. 2026-06-15
   days on market $335,000 Active 36 DOM
6. 2026-06-14
   days on market $335,000 Active 34 DOM
7. 2026-06-10
   days on market $335,000 Active 31 DOM
8. 2026-06-09
   days on market $335,000 Active 30 DOM
9. 2026-06-08
   days on market $335,000 Active 29 DOM
10. 2026-06-07
    pricestatusdays on market $335,000 Active 28 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: $1,924 · $160/mo
• Projected year-2 tax: $2,546 · $212/mo
• Expected delta: +$622/yr (+$52/mo · 32.3%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 25 unhealthy d/yr today · 26 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,180
• − Mortgage interest: −$18,765
• − Property taxes: −$1,924
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,494
• − Management: −$2,494
• − Depreciation: −$9,745
• Taxable loss: −$5,918
• Est. tax savings @ 24.0%: +$1,420
• After-tax cash flow: $1,373/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: Stockton Unified
• NCES district ID: 0638010
• Math proficiency: 23% ▲ 2.00%
• Reading proficiency: 46% ▲ 16.00%
• Median HH income: $37,563
• Composite: 28.65/100
• National rank: #6701
• State rank: #295 of 517 in CA

Livability — Stockton

• Score: 57/100
• State rank: #734
• US rank: #21638

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stockton, CA
• County: San Joaquin County · 729,570 people
• City population: 332,006
• Metro: Stockton, CA
• Population (ZIP): 68,558
• Household income: $83,432
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 1459.0

Population outlook (San Joaquin County) Hauer SSP2

• Today (2025): 796,965 people
• By 2030: 828,849 · +4.0%
• By 2040: 885,611 · +11.1%
• By 2050: 929,798 · +16.7%
• By 2075: 994,578 · +24.8%
• By 2100: 971,291 · +21.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 20% Asian 18% Black 11% White 7% Native American 1%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Swiss 1% Russian 1% Lithuanian 1%
• Foreign-born: 35% · Canada, China, Vietnam
• Languages at home: 39% English-only · Spanish 46% Tagalog/Filipino 6% Other Asian/Pacific 4%

Political lean MEDSL · San Joaquin

• 2024 margin: Toss-up / Even · D 48.0% · R 48.9% · Other 3.0%
• 2008→2024 swing: -11.6pp toward R · 2008: 10.7pp · 2024: -0.9pp
• All cycles: 2024: R+0.9 2020: D+13.9 2016: D+12.9 2012: D+8.9 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -228.27%
• Current HPI: 357.6069
• Rent YoY: ▼ -0.55%
• Metro: Stockton, 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

Property tax history

+8.4%/yr

Latest (2025): $1,924 · +110.6% YoY. Source: county tax records.