3202 Shattuck Ave · Berkeley, CA 94705

$799,000

4 bd · 2.0 ba · 2,238 sqft · MultiFamily public records · 25 Days on market

Built 1904 3,000 sqft lot Est $1343k · 40% under

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Why this score? — see what drove the C- 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
• Cash flow +12.4/30.0
• Schools +5.7/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Transparently priced fixer! This SF-style Berkeley property is a large Victorian with upstairs and downstairs units, each with its own entrance from a charming, gated garden. No tenants yet. Both units are vacant, opening up many possibilities. Bring your vision to these high, coved ceiling rooms with beautiful hardwood floors in most rooms. Finish your favorite pad as the owner’s unit. So many original features. Enter the gate - the first door takes you up a flight of stairs to big windows, high ceilings, and a three-bedroom “apartment” above it all. There are magnificent dining and living rooms, with built-in cabinetry original to the property, replete with mirrors and g

Key facts

• Large victorian
• Built-in cabinetry
• Gated garden

Tags

• LARGE VICTORIAN
• GATED GARDEN
• HIGH COVED CEILING
• HARDWOOD FLOORS
• BUILT-IN CABINETRY
• MAGNIFICENT DINING ROOM

Property features AI

Finance

• Financial info: Two total units

Exterior

• Parking: Street parking
• Security: Fenced yard (wood, full, front yard); Security gate
• Utilities: Public water; Public sewer; Individual electric meter; Individual gas meter
• Home design: Residential income property (duplex); Built in 1904
• Construction: Wood siding; Composition shingle roof
• Exterior features: Rear porch; Front porch; Porch and balcony/patio; Back yard; Front yard; Side yard; Garden / play area; Entry gate; Low maintenance yard space; Shed(s)

Interior

• Flooring: Hardwood; Vinyl; Wood
• Bathrooms: Unit 1: 1 bathroom; Unit 2: 1 bathroom
• Heating & cooling: Space heater (heating); No air conditioning; Gas water heater
• Interior features: Storage areas; Tub with shower over; Bay windows

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $776k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $655k (18.0% below list).
• Recommended offer: $655k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.0% in Berkeley — 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 77/100 on livability (#74 in CA, #2,860 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: crime F, cost of living F.
• Berkeley Unified (urban): math 61% / reading 67% proficiency, ranked #175 of 1,400 in CA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.7%/yr); 58 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $6,552/mo this rent would consume 47% of the median local household income ($168k/yr) (locally 473% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k 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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($787k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $235k; list at $799k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $655,200 (18.0% 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. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $1,342,800
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6528 Dover St	0.16mi	5/4.0 (+1)	2,236 (-0%)	9mo	$1,700,000	$760	72
3038 Shattuck Ave	0.10mi	3/3.0 (-1)	2,057 (-8%)	7mo	$1,000,000	$486	67
2914 Lorina St	0.29mi	3/2.0 (-1)	2,118 (-5%)	12mo	$1,000,000	$472	62
556-558 Alcatraz Ave	0.26mi	3/2.0 (-1)	2,499 (+12%)	3mo	$622,000	$249	61
3110 California St	0.57mi	5/4.0 (+1)	2,244 (+0%)	1mo	$1,200,000	$535	59
740 59th St	0.54mi	5/2.0 (+1)	2,159 (-4%)	6mo	$1,295,000	$600	59
1817 Woolsey St	0.32mi	5/3.0 (+1)	2,265 (+1%)	21mo	$1,040,000	$459	57
2937 Regent St	0.62mi	4/2.0	2,192 (-2%)	15mo	$1,499,000	$684	55
1916 Woolsey St	0.15mi	5/3.0 (+1)	2,571 (+15%)	9mo	$1,705,000	$663	52
2006 Parker St	0.68mi	5/3.0 (+1)	2,204 (-2%)	9mo	$1,350,000	$613	49
523 61st St	0.44mi	5/4.0 (+1)	2,280 (+2%)	18mo	$1,395,000	$612	49

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 · 6.68% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.50×
• Total profit: $-112,793
• Equity at exit: $119,133

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $2,136
• Equity at exit: $69,083

Cash invested: $223,720 (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 Berkeley: 0 Strongly Tenant-Friendly · D+78

Original CA rent control city; vacancy rent control after Costa Hawkins limits.

Methodology + full state rankings →

ZIP-level market 94705

• Rents YoY: 6.7%
• Active inventory: 58
• Price-to-rent: 18.7×

Monthly cashflow live

• Estimated rent: $6,552 high
• Mortgage (P&I): −$4,190
• Tax from tax record: −$786 /mo · $9,428/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,376
• Net cashflow: $-133

Break-even live

Break-even rent $6,720

Max offer price $775,579

Occupancy floor 97%

Sensitivity live

Price	-10% $320	-5% $94	+0% $-133	+5% $-359	+10% $-585
Rent	-10% $-650	-5% $-391	+0% $-133	+5% $126	+10% $385
Rate	-1.0pp $270	-0.5pp $71	base $-133	+0.5pp $-340	+1.0pp $-550

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$3,564
1× unit	2	1	$2,988
Total (2 units)			$6,552

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2113 Ashby Ave Berkeley, CA	5.0	1.5	1605	$5,300	$3.30	22d	1	0.25mi
2154 Ashby Ave Berkeley, CA	4.0	2.5	1628	$6,000	$3.69	44d	1	0.25mi
6022 Telegraph Ave Oakland, CA	5.0	3.0	1900	$5,199	$2.74	6d	1	0.46mi
396 62nd St Oakland, CA	3.0	2.0	2126	$8,950	$4.21	44d	1	0.56mi
2803 Telegraph Ave Berkeley, CA	4.0	2.0	1440	$6,999	$4.86	13d	1	0.64mi
2038 Parker St Berkeley, CA	3.0	1.0–2.5	1118	$6,921	$6.19	0d	17	0.70mi
2821 Hillegass Ave Berkeley, CA	3.0	2.0	1500	$3,995	$2.66	16d	1	0.77mi
2185 Dwight Way Unit 04 Berkeley, CA	5.0	3.0	1449	$6,750	$4.66	19d	1	0.85mi
2175 Dwight Way Unit 01 Berkeley, CA	5.0	3.0	1500	$6,750	$4.50	19d	1	0.86mi
2436 Ellsworth St Unit D Berkeley, CA	5.0	3.0	1461	$6,250	$4.28	16d	1	0.90mi
1316 Russell St Berkeley, CA	4.0	2.5	2200	$8,500	$3.86	0d	1	0.96mi
5263 Locksley Ave Oakland, CA	3.0	2.0	2165	$5,500	$2.54	6d	1	0.98mi
2525 Benvenue Ave Unit 16 Berkeley, CA	3.0	2.0	1400	$4,995	$3.57	44d	1	1.07mi
2525 Benvenue Ave Berkeley, CA	3.0	2.0	1400	$4,995	$3.57	25d	1	1.07mi
976 55th St Oakland, CA	4.0	3.0	2200	$5,495	$2.50	44d	1	1.08mi
2726 Wallace St Berkeley, CA	3.0	3.0	1856	$6,300	$3.39	3d	1	1.18mi
1251 63rd St Emeryville, CA	3.0	2.0	1400	$4,750	$3.39	25d	1	1.27mi
1034 Grayson St Unit 1 Berkeley, CA	3.0	3.0	1498	$6,475	$4.32	44d	1	1.27mi
564 44th St Unit 1 Oakland, CA	4.0	2.0	1400	$3,250	$2.32	44d	1	1.33mi
2108 Berkeley Way Berkeley, CA	1.0–3.0	1.0–2.0	965	$8,100	$8.39	0d	1	1.44mi

Listing history 18 events

1. 2026-06-21
   days on market $799,000 Active 25 DOM
2. 2026-06-18
   days on market $799,000 Active 22 DOM
3. 2026-06-17
   days on market $799,000 Active 21 DOM
4. 2026-06-16
   days on market $799,000 Active 20 DOM
5. 2026-06-15
   price $799,000 Active 19 DOM
6. 2026-06-15
   days on market $699,000 Active 19 DOM
7. 2026-06-13
   days on market $699,000 Active 17 DOM
8. 2026-06-13
   days on market $699,000 Active 16 DOM
9. 2026-06-09
   days on market $699,000 Active 13 DOM
10. 2026-06-08
    days on market $699,000 Active 12 DOM
11. 2026-06-07
    days on market $699,000 Active 11 DOM
12. 2026-06-04
    days on market $699,000 Active 8 DOM
13. 2026-06-03
    days on market $699,000 Active 7 DOM
14. 2026-06-02
    days on market $699,000 Active 6 DOM
15. 2026-06-01
    days on market $699,000 Active 5 DOM
16. 2026-05-31
    days on market $699,000 Active 4 DOM
17. 2026-05-27
    listed $699,000 Active
18. 1999-10-19
    soldstatus $235,000

ⓘ 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: $9,428 · $786/mo
• Projected year-2 tax: $9,428 · $786/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,624
• − Mortgage interest: −$44,756
• − Property taxes: −$9,428
• − Insurance: −$3,995
• − Repairs & maintenance: −$6,290
• − Management: −$6,290
• − Depreciation: −$23,244
• Taxable loss: −$15,379
• Est. tax savings @ 24.0%: +$3,691
• After-tax cash flow: $2,100/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: Berkeley Unified
• NCES district ID: 0604740
• Math proficiency: 61% ▲ 2.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $66,202
• Composite: 57.37/100
• National rank: #2288
• State rank: #175 of 1400 in CA

Livability — Berkeley

• Score: 77/100
• State rank: #74
• US rank: #2860

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berkeley, CA
• County: Alameda County · 1,614,355 people
• City population: 121,632
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 13,991
• Household income: $167,970
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 473.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Asian 11% Two or more races 10% Hispanic / Latino 8% Black 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 5% Scotch-Irish 3% Lithuanian 3%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 79% English-only · Other Indo-European 5% Spanish 5% French/Haitian/Cajun 3%

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: ▼ -708.07%
• Current HPI: 300.2322
• Rent YoY: ▲ 6.68%
• 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

+197.4% since first listed

2 events — show timeline

• 2026-05-27 Listed $699,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1999-10-19 Sold (Public Records) $235,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $9,428 · +15.6% YoY. Source: county tax records.