2006 E Lafayette St · Stockton, CA 95205

$349,998

6 bd · 4.0 ba · 1,609 sqft · MultiFamily public records · 142 Days on market

5,750 sqft lot $218/sqft · 12% below area Est $396k · 12% under

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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 +19.1/30.0
• ARV discount +12.7/15.0
• DSCR +6.0/10.0
• 1% rule +3.8/10.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Well-maintained duplex on a desirable corner lot, featuring two 2-bedroom, 1-bath units. Both units have recently updated flooring along with fresh interior and exterior paint. One unit offers new dual-pane windows. Property is partially occupied with one unit rented at $1,600 per month, while the second unit is vacantperfect for owner-occupancy or immediate rental. Great opportunity for investors or owner-users seeking income potential and easy showing.

Key facts

• Income potential
• Updated flooring
• Fresh interior paint

Tags

• CORNER LOT
• UPDATED FLOORING
• FRESH INTERIOR PAINT
• FRESH EXTERIOR PAINT
• NEW DUAL-PANE WINDOWS
• INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/0.5-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive. Per door: $185/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $308k (12.0% below list).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.6% in Stockton — 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 57/100 on livability (#734 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, health & safety A, amenities A-; Watch: employment C-, schools D-, crime F.
• Stockton Unified (urban): math 23% / reading 46% proficiency, ranked #295 of 517 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 84 active listings in the ZIP; 3,779 units permitted in San Joaquin County in 2024 (0 in 5+ unit buildings).
• At $3,081/mo this rent would consume 61% of the median local household income ($60k/yr) (locally 1712% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• San Joaquin 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 142 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $350k implies a 775% 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 $307,998 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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 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?
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. 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 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: 0.88% ✗
• Cap rate: 7.56%
• Cash-on-cash: 4.53%
• DSCR: 1.20
• GRM: 9.5

CMA / ARV

• ARV (median comp): $395,617
• List price: $349,998
• Delta: -11.53%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-33,342
• Equity at exit: $52,186

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $587
• Equity at exit: $30,261

Cash invested: $97,999 (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 95205

• Active inventory: 84
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $3,081 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$83 /mo · $997/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $370

Break-even live

Break-even rent $2,613

Max offer price $349,998

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	0.5	$3,080
Total (2 units)			$3,081

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $349,998 Active 142 DOM
2. 2026-06-17
   days on market $349,998 Active 141 DOM
3. 2026-06-16
   days on market $349,998 Active 140 DOM
4. 2026-06-15
   days on market $349,998 Active 139 DOM
5. 2026-06-14
   days on market $349,998 Active 137 DOM
6. 2026-06-10
   days on market $349,998 Active 134 DOM
7. 2026-06-09
   days on market $349,998 Active 133 DOM
8. 2026-06-08
   days on market $349,998 Active 132 DOM
9. 2026-06-07
   days on market $349,998 Active 131 DOM
10. 2026-06-05
    days on market $349,998 Active 128 DOM
11. 2026-06-03
    days on market $349,998 Active 127 DOM
12. 2026-06-03
    days on market $349,998 Active 126 DOM
13. 2026-06-01
    days on market $349,998 Active 125 DOM
14. 2026-05-31
    days on market $349,998 Active 124 DOM
15. 1983-05-03
    soldstatus $40,000

ⓘ 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: $997 · $83/mo
• Projected year-2 tax: $2,660 · $222/mo
• Expected delta: +$1,663/yr (+$139/mo · 166.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 30 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,972
• − Mortgage interest: −$19,605
• − Property taxes: −$997
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,958
• − Management: −$2,958
• − Depreciation: −$10,182
• Taxable loss: −$1,477
• Est. tax savings @ 24.0%: +$355
• After-tax cash flow: $4,791/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: Stockton Unified
• NCES district ID: 0638010
• Math proficiency: 23% ▲ 2.00%
• Reading proficiency: 46% ▲ 16.00%
• Median HH income: $37,563
• Composite: 28.65/100
• National rank: #6701
• State rank: #295 of 517 in CA

Livability — Stockton

• Score: 57/100
• State rank: #734
• US rank: #21638

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stockton, CA
• County: San Joaquin County · 729,570 people
• City population: 332,006
• Metro: Stockton, CA
• Population (ZIP): 39,608
• Household income: $60,325
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1712.0

Population outlook (San Joaquin County) Hauer SSP2

• Today (2025): 796,965 people
• By 2030: 828,849 · +4.0%
• By 2040: 885,611 · +11.1%
• By 2050: 929,798 · +16.7%
• By 2075: 994,578 · +24.8%
• By 2100: 971,291 · +21.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 21% White 9% Asian 6% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 72%
• Foreign-born: 33% · Canada
• Languages at home: 36% English-only · Spanish 58% Tagalog/Filipino 2% Other Indo-European 2%

Political lean MEDSL · San Joaquin

• 2024 margin: Toss-up / Even · D 48.0% · R 48.9% · Other 3.0%
• 2008→2024 swing: -11.6pp toward R · 2008: 10.7pp · 2024: -0.9pp
• All cycles: 2024: R+0.9 2020: D+13.9 2016: D+12.9 2012: D+8.9 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -298.45%
• Current HPI: 502.8934
• Rent YoY: —
• Metro: Stockton, 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

1 event — show timeline

• 1983-05-03 Sold (Public Records) $40,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $997 · -58.8% YoY. Source: county tax records.