256 Pettis Ave · Mountain View, CA 94041

$2,695,000

None bd · None ba · 2,801 sqft · MultiFamily public records · 80 Days on market

Built 1961 6,400 sqft lot Est $2423k · 11% over

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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 +8.0/30.0
• Schools +8.0/10.0
• Appreciation +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• DSCR +2.0/10.0
• 1% rule +1.7/10.0

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

Exceptional investment opportunity featuring a five-unit multifamily property comprised of one spacious front unit with three bedrooms and two bathrooms, two one-bedroom/one-bath units, and two studio units. The property offers stable in-place income with immediate cash flow, along with a compelling value-add opportunity through the potential to increase rents to market levels. This combination makes it well-suited for both seasoned and new multifamily investors seeking upside. Its prime location further enhances its appeal for those looking to establish or expand their portfolio in a strong and highly desirable market.

Key facts

• 6,400 sq ft lot
• Built 1961
• Listed 80 days

Property features AI

Exterior

• Parking: Covered parking; Parking lot with 5 total spaces
• Utilities: Heating available
• Home design: Commercial multi-unit building (5+ units); Built in 1961
• Construction: Shingle roof
• Exterior features: Level lot

Interior

• Flooring: Hardwood
• Heating & cooling: Heating present
• Interior features: Hardwood flooring

What this means for you Summary

Snapshot

• This is a multifamily listed at $2.69M.

Deal economics

• At list price, monthly cash flow is $-3k ($-33k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.20M (18.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.81M (33.0% below list).
• Recommended offer: $1.81M (33.0% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 1.4% in Mountain View — 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 84/100 on livability (#14 in CA, #671 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D+, cost of living F.
• Mountain View-Los Altos Union High (urban): math 77% / reading 86% proficiency, ranked #11 of 517 in CA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Stevenson Elementary (456 students, 8% FRL); Isaac Newton Graham Middle (881 students, 31% FRL); Los Altos High (math 74% / reading 83%, grade A-, #54 of 1,170 statewide, top 5%, 2,141 students, 13% FRL).
• Market conditions: Rents rising (+3.4%/yr); 23 active listings in the ZIP; high-income renter base; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• At $18,059/mo this rent would consume 121% of the median local household income ($179k/yr) (locally 981% 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 (-1.1%/yr); year-one equity from $19k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($2.53M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $2.30M; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $1,805,900 (33.0% 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. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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: 0.67% ✗
• Cap rate: 5.05%
• Cash-on-cash: -4.42%
• DSCR: 0.80
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $2,422,865
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201/209 Mariposa Ave	0.06mi	5/3.0	2,640 (-6%)	7mo	$2,150,000	$814	82
700 Mariposa Ave	0.43mi	6/4.0	2,616 (-7%)	8mo	$2,400,000	$917	62
392 View St	0.63mi	6/5.0	2,832 (+1%)	12mo	$2,450,000	$865	58
610 Chiquita Ave	0.39mi	7/5.0	2,968 (+6%)	19mo	$2,100,000	$708	56
1744 Marich Way	0.63mi	4/4.0	3,131 (+12%)	3mo	$2,870,000	$917	48
860 Park Dr	0.75mi	3/2.0	2,706 (-3%)	16mo	$2,150,000	$795	46

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

Projected returns pro-forma

-1.06% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.50×
• Total profit: $-379,596
• Equity at exit: $643,262

10-year hold

• IRR: -4.6%
• Equity multiple: 0.58×
• Total profit: $-315,778
• Equity at exit: $669,288

Cash invested: $754,600 (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 Mountain View: 0 Strongly Tenant-Friendly · D+34

CSFRA rent control + just-cause.

Methodology + full state rankings →

ZIP-level market 94041

• Home prices YoY: -0.3%
• Rents YoY: 3.4%
• Active inventory: 23
• Price-to-rent: 45.7×

Monthly cashflow live

• Estimated rent: $18,059 high
• Mortgage (P&I): −$14,133
• Tax from tax record: −$1,792 /mo · $21,510/yr
• Insurance: −$1,123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,792
• Net cashflow: $-2,782

Break-even live

Break-even rent $21,580

Max offer price $2,203,606

Occupancy floor —

Sensitivity live

Price	-10% $-1,256	-5% $-2,019	+0% $-2,782	+5% $-3,544	+10% $-4,307
Rent	-10% $-4,208	-5% $-3,495	+0% $-2,782	+5% $-2,068	+10% $-1,355
Rate	-1.0pp $-1,424	-0.5pp $-2,096	base $-2,782	+0.5pp $-3,480	+1.0pp $-4,190

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$4,914
▸ 4× units	1	1	$13,144
Total (5 units)			$18,059

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: $673,750
• Closing costs: $80,850
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-22
   days on market $2,695,000 Active 80 DOM
2. 2026-06-21
   days on market $2,695,000 Active 79 DOM
3. 2026-06-18
   days on market $2,695,000 Active 76 DOM
4. 2026-06-17
   days on market $2,695,000 Active 75 DOM
5. 2026-06-16
   days on market $2,695,000 Active 74 DOM
6. 2026-06-15
   days on market $2,695,000 Active 73 DOM
7. 2026-06-13
   days on market $2,695,000 Active 71 DOM
8. 2026-06-13
   days on market $2,695,000 Active 70 DOM
9. 2026-06-09
   days on market $2,695,000 Active 67 DOM
10. 2026-06-08
    days on market $2,695,000 Active 66 DOM
11. 2026-06-07
    days on market $2,695,000 Active 65 DOM
12. 2026-06-05
    days on market $2,695,000 Active 62 DOM
13. 2026-06-03
    days on market $2,695,000 Active 61 DOM
14. 2026-06-02
    days on market $2,695,000 Active 60 DOM
15. 2026-06-01
    days on market $2,695,000 Active 59 DOM
16. 2026-05-31
    days on market $2,695,000 Active 58 DOM
17. 2026-04-03
    listed $2,695,000 Active
18. 2022-06-17
    soldstatus $2,300,000
19. 1995-08-11
    soldstatus $442,000
20. 1994-11-30
    soldstatus $298,000

ⓘ 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: $21,510 · $1,792/mo
• Projected year-2 tax: $21,510 · $1,792/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $216,708
• − Mortgage interest: −$150,962
• − Property taxes: −$21,510
• − Insurance: −$13,475
• − Repairs & maintenance: −$17,337
• − Management: −$17,337
• − Depreciation: −$78,400
• Taxable loss: −$82,312
• Est. tax savings @ 24.0%: +$19,755
• After-tax cash flow: $-13,625/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: Mountain View-Los Altos Union High
• NCES district ID: 0626310
• Math proficiency: 77% ▲ 9.00%
• Reading proficiency: 86% ▲ 4.00%
• Median HH income: $161,233
• Composite: 79.5/100
• National rank: #59
• State rank: #11 of 517 in CA

Livability — Mountain View

• Score: 84/100
• State rank: #14
• US rank: #671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mountain View, CA
• County: Santa Clara County · 1,806,974 people
• City population: 84,858
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 16,050
• Household income: $178,558
• Rent vs Own: 71.9% rent · 28.1% own
• Severe rent burden: 981.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 37% Hispanic / Latino 28% Asian 27% Two or more races 13% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Italian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 39% · Canada, China, Jamaica
• Languages at home: 50% English-only · Spanish 20% Chinese 11% Other Indo-European 7%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.06%
• Current HPI: 399.4625
• Rent YoY: ▲ 3.44%
• Metro: San Jose-Sunnyvale-Santa Clara, 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

+804.4% since first listed

4 events — show timeline

• 2026-04-03 Listed $2,695,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2022-06-17 Sold (Public Records) $2,300,000 Public Records
• 1995-08-11 Sold (Public Records) $442,000 Public Records
• 1994-11-30 Sold (Public Records) $298,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $21,510 · -23.5% YoY. Source: county tax records.