1391-1393 Vallejo St · San Francisco, CA 94109

$2,000,000

6 bd · 2.0 ba · 2,746 sqft · MultiFamily public records · 1 Days on market

Built 1908 1,881 sqft lot Est $1999k · at est.

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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 +9.4/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Located in the heart of Russian Hill, 1391-1393 Vallejo Street presents a rare opportunity to acquire a fully vacant Edwardian duplex in one of San Francisco's most desirable neighborhoods. The property features an ideal unit mix of two spacious 3-bedroom, 1-bathroom residences, offering flexibility for owner-occupiers, investors, or multigenerational living. Rich in period charm, the building showcases classic Edwardian architectural details while benefiting from significant structural upgrades. In 2009, the foundation was replaced with reinforced concrete footings, along with voluntary structural improvements including plywood shear walls, anchor bolts, and hold-downs at the ground floor

Key facts

• Structural upgrades
• Hold-downs
• Edwardian duplex

Tags

• EDWARDIAN DUPLEX
• STRUCTURAL UPGRADES
• REINFORCED CONCRETE FOOTINGS
• PLYWOOD SHEAR WALLS
• ANCHOR BOLTS
• HOLD-DOWNS

Property features AI

Finance

• Financial info: Two total units (both vacant)
• HOA & community: No association fee

Exterior

• Home design: Residential income duplex; Three or more levels; Fixer condition
• Construction: Wood construction; Built in 1908; Tar and gravel roof; Concrete foundation
• Exterior features: Sidewalk access; Other lot features

Interior

• Bedrooms: Six bedrooms total
• Flooring: Linoleum; Tile; Wood
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Hot water heating
• Interior features: Common area laundry; Central heating; Hot water heating; Linoleum, tile and wood flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $2.00M.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative. Per door: $-721/mo.
• To cash-flow at today's rent, offer at most $1.75M (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.32M (33.9% below list).
• Recommended offer: $1.32M (33.9% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.1% in San Francisco — 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 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 (+15.6%/yr); 165 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $13,216/mo this rent would consume 150% of the median local household income ($106k/yr) (locally 5272% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $114k of equity ($14k loan paydown + $100k appreciation (5.0% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$183k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,321,600 (33.9% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.66% ✗
• Cap rate: 5.43%
• Cash-on-cash: -3.09%
• DSCR: 0.86
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $1,999,088
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 - 37 Glover St	0.23mi	5/1.0 (-1)	2,678 (-2%)	1mo	$1,950,000	$728	76
1162-1164 Vallejo St	0.21mi	6/—	2,890 (+5%)	9mo	$2,750,000	$952	74
168-170 Bernard St	0.21mi	7/3.0 (+1)	2,724 (-1%)	9mo	$1,800,000	$661	72
1853-1857 Hyde St	0.09mi	6/—	3,042 (+11%)	15mo	$1,440,000	$473	65
822-824 Union St	0.45mi	6/4.0	2,767 (+1%)	9mo	$3,500,000	$1,265	62
17-19 Card Aly	0.60mi	6/3.0	2,649 (-4%)	4mo	$2,500,000	$944	59
1266-1270 Vallejo St	0.11mi	5/— (-1)	2,954 (+8%)	24mo	$1,218,000	$412	57
82-86 Valparaiso St	0.45mi	5/3.0 (-1)	3,000 (+9%)	1mo	$1,425,000	$475	54
3046-3048 Polk St	0.59mi	6/2.0	3,000 (+9%)	11mo	$2,202,000	$734	48
1680-1682 Union St	0.39mi	7/2.0 (+1)	3,100 (+13%)	12mo	$3,250,000	$1,048	45
1470-1472 Jackson St	0.17mi	5/3.0 (-1)	3,134 (+14%)	22mo	$1,275,000	$407	41

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

Projected returns pro-forma

5.02% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.1%
• Equity multiple: 1.79×
• Total profit: $440,444
• Equity at exit: $1,135,965

10-year hold

• IRR: 14.8%
• Equity multiple: 3.81×
• Total profit: $1,575,783
• Equity at exit: $1,962,666

Cash invested: $560,000 (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 94109

• Home prices YoY: 2.9%
• Rents YoY: 15.6%
• Active inventory: 165
• Price-to-rent: 25.2×

Monthly cashflow live

• Estimated rent: $13,216 high
• Mortgage (P&I): −$10,488
• Tax from tax record: −$561 /mo · $6,728/yr
• Insurance: −$833
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,775
• Net cashflow: $-1,442

Break-even live

Break-even rent $15,041

Max offer price $1,745,341

Occupancy floor —

Sensitivity live

Price	-10% $-309	-5% $-875	+0% $-1,442	+5% $-2,008	+10% $-2,574
Rent	-10% $-2,486	-5% $-1,964	+0% $-1,442	+5% $-920	+10% $-398
Rate	-1.0pp $-434	-0.5pp $-933	base $-1,442	+0.5pp $-1,960	+1.0pp $-2,487

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$13,216
Total (2 units)			$13,216

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: $500,000
• Closing costs: $60,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2256B Van Ness Ave San Francisco, CA	5.0	2.0	1990	$11,995	$6.03	25d	1	0.18mi
— San Francisco, CA	5.0	4.5	3100	$29,990	$9.67	9d	1	0.32mi

Listing history 2 events

1. 2026-05-07
   status Pending
2. 2026-05-07
   listed $2,000,000 Active

ⓘ 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: $6,728 · $561/mo
• Projected year-2 tax: $15,200 · $1,267/mo
• Expected delta: +$8,472/yr (+$706/mo · 125.9%)

ⓘ 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 2/10 Low 7 d/yr ≥79°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $158,592
• − Mortgage interest: −$112,031
• − Property taxes: −$6,728
• − Insurance: −$10,000
• − Repairs & maintenance: −$12,687
• − Management: −$12,687
• − Depreciation: −$58,182
• Taxable loss: −$53,723
• Est. tax savings @ 24.0%: +$12,894
• After-tax cash flow: $-4,405/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 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

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 · 827,552 people
• City population: 827,552
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 54,553
• Household income: $106,018
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 5272.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 50% Asian 27% Hispanic / Latino 13% Two or more races 10% Black 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 2%
• Foreign-born: 31% · China, Canada, Vietnam
• Languages at home: 64% English-only · Chinese 10% Spanish 7% Other Asian/Pacific 4%

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: ▲ 5.02%
• Current HPI: 175.8886
• Rent YoY: ▲ 15.60%
• 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

2 events — show timeline

• 2026-05-07 Pending — San Francisco MLS
• 2026-05-07 Listed $2,000,000 San Francisco MLS

Property tax history

+2.4%/yr

Latest (2025): $6,728 · +2.9% YoY. Source: county tax records.