4113-4115 20th St · San Francisco, CA 94114

$1,288,000

9 bd · 3.0 ba · 2,300 sqft · MultiFamily public records · 14 Days on market

Built 1900 2,452 sqft lot $560/sqft · 18% below area Est $1566k · 18% under

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Why this score? — see what drove the A 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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +9.8/10.0
• 1% rule +8.2/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Situated on one of Eureka Valley's premier blocks, this handsome Victorian triplex features a two-level owners unit, two additional units and lower level storage with development potential. The upper unit features high ceilings, abundant architectural details and hardwood floors. The generous sized living room has sweeping views of the surrounding neighborhood, abundant natural light and a fireplace. The main level has a flexible layout with two bedrooms, a full bath, an eat-in kitchen and adjoining sunroom. Upstairs, the attic level has a spacious living area, office space and an additional full bath. The first floor includes two units, including a vacant unit with direct access to a low m

Key facts

• Flexible layout
• Eat in kitchen
• Adjoining sunroom

Tags

• TWO LEVEL OWNERS UNIT
• LOWER LEVEL STORAGE
• DEVELOPMENT POTENTIAL
• FLEXIBLE LAYOUT
• EAT IN KITCHEN
• ADJOINING SUNROOM

Property features AI

Finance

• Financial info: Triplex with 3 units total: 1 unit leased, 2 units vacant
• HOA & community: No association fee

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property (Triplex); Victorian style; Four levels; Owner's unit is a penthouse; building contains two studios and one penthouse
• Construction: Built in 1900; Stucco and wood construction; Brick/mortar foundation
• Exterior features: Regular-shaped lot

Interior

• Bedrooms: 3 bedrooms total; Owner's unit is a two-level penthouse (Unit 1)
• Flooring: Carpet; Wood
• Bathrooms: 4 full bathrooms
• Interior features: Common area laundry; Washer/Dryer included; Carpet and wood flooring
• Laundry & utility: Common area laundry; Washer/Dryer

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/4.0-bath units multifamily listed at $1.29M.

Deal economics

• At list price, monthly cash flow is $4k ($54k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.29M).
• Cap rate 10.5% 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.
• Market conditions: Rents rising fast (+14.4%/yr); 116 active listings in the ZIP; high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $16,945/mo this rent would consume 100% of the median local household income ($204k/yr) (locally 1336% 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 $131k of equity ($9k loan paydown + $122k appreciation (9.5% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (9.5% appreciation + 8.0% rent growth), your $361k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$211k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,288,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — 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 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?
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. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.93%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (median comp): $1,566,157
• List price: $1,288,000
• Delta: -17.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

9.51% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 37.0%
• Equity multiple: 3.87×
• Total profit: $1,033,714
• Equity at exit: $1,114,319

10-year hold

• IRR: 34.0%
• Equity multiple: 9.41×
• Total profit: $3,031,416
• Equity at exit: $2,355,734

Cash invested: $360,640 (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 94114

• Home prices YoY: 4.4%
• Rents YoY: 14.4%
• Active inventory: 116
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $16,945 high
• Mortgage (P&I): −$6,754
• Tax est. 1.5%: −$1,610 /mo · $19,320/yr
• Insurance: −$537
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,558
• Net cashflow: $4,485

Break-even live

Break-even rent $11,267

Max offer price $1,288,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	4	$16,944
Total (3 units)			$16,945

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: $322,000
• Closing costs: $38,640
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-08
   listed $1,288,000 Active 983-char remark

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥78°F today · 17 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: $203,340
• − Mortgage interest: −$72,148
• − Property taxes: −$19,320
• − Insurance: −$6,440
• − Repairs & maintenance: −$16,267
• − Management: −$16,267
• − Depreciation: −$37,469
• Taxable income: $35,428
• Est. tax owed @ 24.0%: −$8,503
• After-tax cash flow: $45,323/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): 33,020
• Household income: $204,134
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1336.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Asian 14% Two or more races 12% Hispanic / Latino 10% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 4% Italian 4% Romanian 3%
• Foreign-born: 20% · Canada, China, Vietnam
• Languages at home: 77% English-only · Spanish 6% Chinese 4% Other Indo-European 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: ▲ 9.51%
• Current HPI: 223.6988
• Rent YoY: ▲ 14.40%
• 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

+55.3% since first listed

3 events — show timeline

• 2026-06-05 Sold (MLS) $2,000,000 San Francisco MLS
• 2026-05-22 Pending — San Francisco MLS
• 2026-05-08 Listed $1,288,000 San Francisco MLS

Property tax history

+4.2%/yr

Latest (2025): $2,285 · +3.3% YoY. Source: county tax records.