701 Plaza Ave · Sacramento, CA 95815

$8,850,000

71 bd · 1.0 ba · 38,024 sqft · MultiFamily public records · 42 Days on market

Built 1959 1.48 ac lot

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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).

• Cash flow +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.4/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. 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

The subject property consists of three buildings on a large parcel in the Noralto District of Old North Sacramento. These buildings were built in 1959 and are well-positioned as a midcentury urban infill apartment community serving Sacramento's stable workforce renter base. The unit mix includes: 3 Studio units, 55 One-Bedroom / One-Bathroom units, and 8 Two-Bedroom / One-Bathroom units. Each unit is individually metered for gas and electric and features wall heaters and wall-mounted air conditioning. Interior finishes vary by unit, reflecting updates completed over time. Flooring consists of tile, linoleum, and wood laminate. All units include refrigerators, gas stoves, and garbage disposa

Key facts

• Gas stoves
• Off-street parking
• Garbage disposals

Tags

• MIDCENTURY URBAN INFILL
• ON-SITE LAUNDRY
• OPEN COURTYARD LAYOUT
• OFF-STREET PARKING
• GAS STOVES
• GARBAGE DISPOSALS

What this means for you Summary

Snapshot

• This is a 71-bed/1.0-bath multifamily listed at $8.85M.

Deal economics

• At list price, monthly cash flow is $14k ($172k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($92k rent vs $8.85M).
• Recommended offer: $8.58M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.0% in Sacramento — 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 71/100 on livability (#218 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A; Watch: schools D+, crime F, cost of living F.
• Twin Rivers Unified (suburban): math 29% / reading 37% proficiency, ranked #970 of 1,400 in CA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.5%/yr); 98 active listings in the ZIP; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• At $92,417/mo this rent would consume 1845% of the median local household income ($60k/yr) (locally 1877% 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 $61k of loan paydown is wiped out by about $266k of value loss. Plan a longer hold.
• Sacramento 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 ($8.58M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $7.32M; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $8,584,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — 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 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?
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: 1.04% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.94%
• DSCR: 1.31
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.52% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-657,559
• Equity at exit: $1,319,564

10-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $61,387
• Equity at exit: $765,186

Cash invested: $2,478,000 (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 95815

• Home prices YoY: -32.2%
• Rents YoY: 1.5%
• Active inventory: 98
• Price-to-rent: 531.2×

Monthly cashflow live

• Estimated rent: $92,417 high
• Mortgage (P&I): −$46,410
• Tax from tax record: −$8,588 /mo · $103,056/yr
• Insurance: −$3,688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$19,408
• Net cashflow: $14,324

Break-even live

Break-even rent $74,286

Max offer price $8,850,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 55× units	1	1	$76,340
▸ 8× units	2	1	$11,920
▸ 3× units	0	1	$4,143
Total (66 units)			$92,417

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: $2,212,500
• Closing costs: $265,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $8,850,000 Active 42 DOM
2. 2026-06-17
   days on market $8,850,000 Active 41 DOM
3. 2026-06-16
   days on market $8,850,000 Active 40 DOM
4. 2026-06-15
   days on market $8,850,000 Active 39 DOM
5. 2026-06-13
   days on market $8,850,000 Active 37 DOM
6. 2026-06-13
   days on market $8,850,000 Active 36 DOM
7. 2026-06-09
   days on market $8,850,000 Active 33 DOM
8. 2026-06-08
   days on market $8,850,000 Active 32 DOM
9. 2026-06-07
   days on market $8,850,000 Active 31 DOM
10. 2026-06-03
    days on market $8,850,000 Active 27 DOM
11. 2026-06-02
    days on market $8,850,000 Active 26 DOM
12. 2026-06-01
    days on market $8,850,000 Active 25 DOM
13. 2026-05-31
    days on market $8,850,000 Active 24 DOM
14. 2016-11-15
    soldstatus $7,316,000
15. 1989-03-24
    soldstatus $1,300,000
16. 1983-10-31
    soldstatus $1,275,360

ⓘ 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: $103,056 · $8,588/mo
• Projected year-2 tax: $103,056 · $8,588/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 6/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 27 unhealthy d/yr today · 33 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,109,004
• − Mortgage interest: −$495,738
• − Property taxes: −$103,056
• − Insurance: −$44,250
• − Repairs & maintenance: −$88,720
• − Management: −$88,720
• − Depreciation: −$257,455
• Taxable income: $31,065
• Est. tax owed @ 24.0%: −$7,456
• After-tax cash flow: $164,427/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: Twin Rivers Unified
• NCES district ID: 0601332
• Math proficiency: 29% ▲ 2.00%
• Reading proficiency: 37% ▲ 2.00%
• Median HH income: $42,481
• Composite: 30.67/100
• National rank: #11437
• State rank: #970 of 1400 in CA

Livability — Sacramento

• Score: 71/100
• State rank: #218
• US rank: #6957

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sacramento, CA
• County: Sacramento County · 1,539,646 people
• City population: 761,410
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 26,658
• Household income: $60,097
• Rent vs Own: 60.2% rent · 39.8% own
• Severe rent burden: 1877.0

Population outlook (Sacramento County) Hauer SSP2

• Today (2025): 1,660,763 people
• By 2030: 1,732,990 · +4.3%
• By 2040: 1,855,755 · +11.7%
• By 2050: 1,941,335 · +16.9%
• By 2075: 2,046,162 · +23.2%
• By 2100: 1,961,444 · +18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 42% White 28% Two or more races 14% Black 12% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Russian 1% Italian 1% Romanian 1%
• Foreign-born: 23% · Canada, China, Vietnam
• Languages at home: 58% English-only · Spanish 28% Other Asian/Pacific 6% Other Indo-European 2%

Political lean MEDSL · Sacramento

• 2024 margin: D (+19.7) · D 58.1% · R 38.4% · Other 3.5%
• 2008→2024 swing: +0.7pp no change · 2008: 19.0pp · 2024: 19.7pp
• All cycles: 2024: D+19.7 2020: D+25.3 2016: D+23.7 2012: D+16.3 2008: D+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -213.04%
• Current HPI: 449.1398
• Rent YoY: ▲ 1.52%
• Metro: Sacramento-Roseville-Folsom, 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

+473.6% since first listed

3 events — show timeline

• 2016-11-15 Sold (Public Records) $7,316,000 Public Records
• 1989-03-24 Sold (Public Records) $1,300,000 Public Records
• 1983-10-31 Sold (Public Records) $1,275,360 Public Records

Property tax history

+9.2%/yr

Latest (2025): $103,056 · +14.8% YoY. Source: county tax records.