7621 23rd St · Sacramento, CA 95832

$395,000

3 bd · 2.0 ba · 1,343 sqft · SingleFamily public records · 51 Days on market

Built 1960 6,970 sqft lot $294/sqft · 6% below area Est $418k · 6% under

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Why this score? — see what drove the F 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 +10.0/15.0
• Cash flow +8.3/30.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Come take a look at this four bedroom spacious home featuring a newly updated kitchen, two newly updated bathrooms, new mini split unit for temperature control, fresh paint, new flooring, new fixtures and more! You'll love the great room concept connecting the kitchen, dining and living spaces. The large fireplace makes a wonderful feature in the living room. Retreat to your primary bedroom with your own private full bathroom. The fourth bedroom would also make a wonderful home office, hobby room or home gym. The large backyard has a covered patio, perfect for entertaining family and friends on a breezy Sacramento summer evening. The gated front parking area is covered for ease of access to

Key facts

• Great room concept
• Large fireplace
• Mini split unit

Tags

• NEWLY UPDATED KITCHEN
• NEWLY UPDATED BATHROOMS
• MINI SPLIT UNIT
• GREAT ROOM CONCEPT
• LARGE FIREPLACE
• PRIVATE FULL BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $395k.

Deal economics

• At list price, monthly cash flow is $-364 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $331k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (36.8% below list).
• Recommended offer: $250k (36.8% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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.
• Sacramento City Unified (urban): math 32% / reading 43% proficiency, ranked #804 of 1,400 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 96 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• This rent runs 36% of the median local income ($82k/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 $3k of loan paydown is wiped out by about $12k 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 51 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $395k implies a 508% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,784 (36.8% 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 51 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — 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: 0.63% ✗
• Cap rate: 5.19%
• Cash-on-cash: -3.94%
• DSCR: 0.82
• GRM: 13.2

CMA / ARV

• ARV (median comp): $418,372
• List price: $395,000
• Delta: -5.59%
• 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
2209 Meadowview Rd	0.21mi	3/2.0	1,400 (+4%)	2mo	$373,000	$266	82
2233 Babette Way	0.15mi	4/2.0 (+1)	1,261 (-6%)	4mo	$430,000	$341	75
7574 Twilight Dr	0.45mi	4/2.0 (+1)	1,351 (+1%)	2mo	$410,000	$303	72
2128 Kirk Way	0.50mi	3/2.0	1,330 (-1%)	4mo	$445,000	$335	72
7609 22nd St	0.20mi	4/2.0 (+1)	1,261 (-6%)	5mo	$400,000	$317	72
7632 Manorcrest Way	0.33mi	3/2.0	1,249 (-7%)	2mo	$400,000	$320	71
2273 Pierre Ave	0.11mi	3/2.0	1,160 (-14%)	6mo	$355,000	$306	68
7537 Collingwood St	0.49mi	3/2.0	1,387 (+3%)	6mo	$402,000	$290	67
1963 Bonavista Way	0.62mi	3/2.0	1,302 (-3%)	1mo	$434,000	$333	65
6 Cortney Ct	0.43mi	3/2.0	1,190 (-11%)	0mo	$455,000	$382	60
7477 21st St	0.65mi	3/2.0	1,452 (+8%)	5mo	$450,000	$310	52
2187 Montecito Way	0.68mi	3/2.0	1,141 (-15%)	5mo	$365,000	$320	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -23.0%
• Equity multiple: 0.21×
• Total profit: $-87,367
• Equity at exit: $58,896

10-year hold

• IRR: -17.7%
• Equity multiple: 0.04×
• Total profit: $-106,722
• Equity at exit: $34,152

Cash invested: $110,600 (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 95832

• Active inventory: 96
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,498 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$101 /mo · $1,210/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-364

Break-even live

Break-even rent $2,958

Max offer price $330,774

Occupancy floor —

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7638 24th St Sacramento, CA	2.0	1.0	976	$1,900	$1.95	43d	1	0.12mi
26 Nedra Ct Unit A1 Sacramento, CA	2.0	1.0	980	$1,650	$1.68	20d	1	0.19mi
26 Nedra Ct Sacramento, CA	2.0	1.0	980	$1,650	$1.68	43d	1	0.19mi
7663 22nd St Sacramento, CA	4.0	2.0	1800	$1,999	$1.11	23d	1	0.23mi
7640 Walsh Way Sacramento, CA	3.0	2.0	1301	$2,695	$2.07	43d	1	0.38mi
7462 21st St Sacramento, CA	2.0	1.0	900	$1,775	$1.97	1d	1	0.69mi
3249 Torrance Ave Sacramento, CA	3.0	3.0	1258	$2,599	$2.07	23d	1	0.92mi
7726 Laurie Way Sacramento, CA	3.0	1.0	1069	$2,075	$1.94	7d	1	0.92mi
2081 Wakefield Way Sacramento, CA	3.0	2.0	1409	$2,500	$1.77	19d	1	1.13mi
7570 Wrenwood Dr Sacramento, CA	3.0	2.0	1535	$2,395	$1.56	43d	1	1.14mi
2066 Delta View Ave Sacramento, CA	3.0	2.5	1759	$3,509	$1.99	4d	1	1.20mi
9 Adella Pl Sacramento, CA	3.0	2.5	1612	$3,289	$2.04	4d	1	1.21mi
21 Adella Pl Sacramento, CA	3.0	2.5	1759	$3,459	$1.97	4d	1	1.21mi
2054 Delta View Ave Sacramento, CA	3.0	2.5	1612	$3,269	$2.03	43d	1	1.21mi
2042 Delta View Ave Sacramento, CA	3.0	2.5	1612	$3,299	$2.05	19d	1	1.22mi
29 Adella Pl Sacramento, CA	3.0	2.5	1759	$3,449	$1.96	4d	1	1.23mi
8205 Perla Way Sacramento, CA	3.0	2.5	1612	$3,229	$2.00	1d	1	1.23mi
6 Adella Pl Sacramento, CA	3.0	2.5	1612	$3,199	$1.98	2d	1	1.23mi
10 Adella Pl Sacramento, CA	3.0	2.5	1759	$3,439	$1.96	23d	1	1.24mi
18 Adella Pl Sacramento, CA	3.0	2.5	1612	$3,239	$2.01	4d	1	1.24mi
7606 Klotz Ranch Ct Sacramento, CA	1.0–3.0	1.0–2.0	884	$3,125	$3.54	1d	10	1.33mi
4074 Weymouth Ln Sacramento, CA	2.0	2.0	1200	$2,498	$2.08	17d	1	1.35mi
4066 Weymouth Ln Sacramento, CA	3.0	1.5	1323	$1,900	$1.44	43d	1	1.36mi

Listing history 17 events

1. 2026-06-18
   days on market $395,000 Active 51 DOM
2. 2026-06-17
   days on market $395,000 Active 50 DOM
3. 2026-06-16
   days on market $395,000 Active 49 DOM
4. 2026-06-15
   days on market $395,000 Active 48 DOM
5. 2026-06-13
   days on market $395,000 Active 46 DOM
6. 2026-06-13
   days on market $395,000 Active 45 DOM
7. 2026-06-09
   days on market $395,000 Active 42 DOM
8. 2026-06-08
   days on market $395,000 Active 41 DOM
9. 2026-06-07
   days on market $395,000 Active 40 DOM
10. 2026-06-05
    days on market $395,000 Active 37 DOM
11. 2026-06-03
    days on market $395,000 Active 36 DOM
12. 2026-06-02
    days on market $395,000 Active 35 DOM
13. 2026-06-01
    days on market $395,000 Active 34 DOM
14. 2026-05-31
    days on market $395,000 Active 33 DOM
15. 2011-08-01
    soldstatus $65,000
16. 1992-05-06
    soldstatus $75,000
17. 1991-06-18
    soldstatus $48,000

ⓘ 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: $1,210 · $101/mo
• Projected year-2 tax: $3,002 · $250/mo
• Expected delta: +$1,792/yr (+$149/mo · 148.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°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: $29,974
• − Mortgage interest: −$22,126
• − Property taxes: −$1,210
• − Insurance: −$1,975
• − Repairs & maintenance: −$2,398
• − Management: −$2,398
• − Depreciation: −$11,491
• Taxable loss: −$11,624
• Est. tax savings @ 24.0%: +$2,790
• After-tax cash flow: $-1,573/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: Sacramento City Unified
• NCES district ID: 0633840
• Math proficiency: 32% ▬ 0.00%
• Reading proficiency: 43% ▲ 3.00%
• Median HH income: $49,280
• Composite: 34.86/100
• National rank: #10000
• State rank: #804 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): 12,850
• Household income: $82,318
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 509.0

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 0.74)
• Race & ethnicity: Hispanic / Latino 36% Asian 33% Two or more races 16% White 12% Black 10% Pacific Islander 3% Native American 2%
• Hispanic origin (detail): Mexican 26% Puerto Rican 4%
• Common ancestry: Lithuanian 1% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 30% · Canada, China, South Korea
• Languages at home: 44% English-only · Spanish 21% Other Asian/Pacific 15% Other Indo-European 8%

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: ▼ -199.16%
• Current HPI: 362.481
• Rent YoY: —
• 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

+35.4% since first listed

3 events — show timeline

• 2011-08-01 Sold (Public Records) $65,000 Public Records
• 1992-05-06 Sold (Public Records) $75,000 Public Records
• 1991-06-18 Sold (Public Records) $48,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $1,210 · +1.4% YoY. Source: county tax records.