2151 E 24th St · Oakland, CA 94606

$795,000

7 bd · 5.0 ba · 3,452 sqft · MultiFamily public records · 77 Days on market

Built 1940 7,000 sqft lot $230/sqft · 11% below area Est $891k · 11% under

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Why this score? — see what drove the B- 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 +25.4/30.0
• ARV discount +12.4/15.0
• DSCR +8.4/10.0
• 1% rule +7.5/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• Schools +3.0/10.0
• 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: 5 units. confirmed

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 MLS

2151 E 24th Street is a well-maintained Victorian-style 5-unit building in Oakland's desirable Highland Terrace neighborhood known for accessibility in a central location. Featuring (4) Two Bed/One Bath units and (1) One Bed/One Bath with desirable floor plans that attract and maintain long-term, reliable tenants. Built in 1940, the ±3,452 sq. ft. building features classic wood construction and siding on a concrete perimeter foundation and a pitched composition shingle roof. The ±7,000 sq. ft. parcel features ample parking with 5 assigned spaces to the rear of the property plus 2 tandem parking spaces on the right side of the building and the minimal landscaping makes for easy maintenance. 2151 E 24th Street presents a strong value-add opportunity with substantial income upside in a high-demand rental market. Each unit has a private entrance and the property has shared laundry facilities for added convenience and income. Garfield Elementary, Roosevelt Middle School, and Oakland High School are nearby. Quick access to I-880 & I-580 plus San Antonio & Peralta Parks.

Key facts

• Ample parking
• Private entrance
• 7,000 sq ft lot

Tags

• VICTORIAN STYLE BUILDING
• PRIVATE ENTRANCE
• AMPLE PARKING
• QUICK ACCESS TO I-880
• QUICK ACCESS TO I-580

What this means for you Summary

Snapshot

• This is a 4×2bd/1ba + 1×1bd/1ba units multifamily listed at $795k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $367/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $795k).
• Recommended offer: $747k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.4% in Oakland — 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 (#224 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: schools C-, crime F, cost of living F.
• Oakland Unified (urban): math 27% / reading 33% proficiency, ranked #1,007 of 1,400 in CA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.9%/yr); 127 active listings in the ZIP; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $9,915/mo this rent would consume 164% of the median local household income ($72k/yr) (locally 3757% 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 $5k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($747k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $747,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.25% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.90%
• DSCR: 1.44
• GRM: 6.7

CMA / ARV

• ARV (median comp): $891,131
• List price: $795,000
• Delta: -10.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2231 E 28th St	0.30mi	8/4.0 (+1)	3,378 (-2%)	9mo	$1,300,000	$385	66
2670 25th Ave	0.40mi	8/4.0 (+1)	3,476 (+1%)	20mo	$804,000	$231	55
2748 Garden St	0.47mi	8/6.0 (+1)	3,456 (+0%)	22mo	$880,000	$255	51
2619 E 16th St	0.62mi	8/5.0 (+1)	3,569 (+3%)	17mo	$1,100,000	$308	46
2819 Garden St	0.51mi	8/4.0 (+1)	3,364 (-2%)	23mo	$985,000	$293	44
2808 25th Ave	0.49mi	8/4.0 (+1)	3,816 (+10%)	15mo	$600,000	$157	38

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 · 1.86% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-22,692
• Equity at exit: $118,537

10-year hold

• IRR: 5.6%
• Equity multiple: 1.39×
• Total profit: $87,559
• Equity at exit: $68,737

Cash invested: $222,600 (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 Oakland: 0 Strongly Tenant-Friendly · D+62

Rent Adjustment Program + Just Cause.

Methodology + full state rankings →

ZIP-level market 94606

• Rents YoY: 1.9%
• Active inventory: 127
• Price-to-rent: 32.9×

Monthly cashflow live

• Estimated rent: $9,915 high
• Mortgage (P&I): −$4,169
• Tax from tax record: −$1,497 /mo · $17,961/yr
• Insurance: −$331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,082
• Net cashflow: $1,836

Break-even live

Break-even rent $7,591

Max offer price $795,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,052
1× unit	1	1	$1,861
Total (5 units)			$9,915

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $795,000 Active 77 DOM
2. 2026-06-17
   days on market $795,000 Active 76 DOM
3. 2026-06-16
   days on market $795,000 Active 75 DOM
4. 2026-06-15
   days on market $795,000 Active 74 DOM
5. 2026-06-13
   days on market $795,000 Active 72 DOM
6. 2026-06-13
   days on market $795,000 Active 71 DOM
7. 2026-06-09
   days on market $795,000 Active 68 DOM
8. 2026-06-08
   days on market $795,000 Active 67 DOM
9. 2026-06-07
   days on market $795,000 Active 66 DOM
10. 2026-06-04
    days on market $795,000 Active 63 DOM
11. 2026-06-03
    days on market $795,000 Active 62 DOM
12. 2026-06-02
    days on market $795,000 Active 61 DOM
13. 2026-06-01
    days on market $795,000 Active 60 DOM
14. 2026-05-31
    days on market $795,000 Active 59 DOM
15. 2026-04-02
    listed $795,000 Active 1104-char remark

    Show marketing remark (1104 chars)

    2151 E 24th Street is a well-maintained Victorian-style 5-unit building in Oakland's desirable Highland Terrace neighborhood known for accessibility in a central location. Featuring (4) Two Bed/One Bath units and (1) One Bed/One Bath with desirable floor plans that attract and maintain long-term, reliable tenants. Built in 1940, the ±3,452 sq. ft. building features classic wood construction and siding on a concrete perimeter foundation and a pitched composition shingle roof. The ±7,000 sq. ft. parcel features ample parking with 5 assigned spaces to the rear of the property plus 2 tandem parking spaces on the right side of the building and the minimal landscaping makes for easy maintenance. 2151 E 24th Street presents a strong value-add opportunity with substantial income upside in a high-demand rental market. Each unit has a private entrance and the property has shared laundry facilities for added convenience and income. Garfield Elementary, Roosevelt Middle School, and Oakland High School are nearby. Quick access to I-880 & I-580 plus San Antonio & Peralta Parks.

16. 2017-08-23
    status Pending (Do Not Show) 274-char remark

    Show marketing remark (274 chars)

    Well maintained 5-unit Victorian Style building with desirable floor plans and great location close to shopping, transportation and Hwy 580 & 880. All units are fully occupied by excellent long term tenants. Existing rents are very low & lots of room for increase.

17. 2017-08-23
    soldstatus $887,000 Sold 274-char remark

    Show marketing remark (274 chars)

    Well maintained 5-unit Victorian Style building with desirable floor plans and great location close to shopping, transportation and Hwy 580 & 880. All units are fully occupied by excellent long term tenants. Existing rents are very low & lots of room for increase.

18. 2017-08-23
    soldstatus $887,000 Closed

    Show marketing remark (274 chars)

    Well maintained 5-unit Victorian Style building with desirable floor plans and great location close to shopping, transportation and Hwy 580 & 880. All units are fully occupied by excellent long term tenants. Existing rents are very low & lots of room for increase.

19. 2017-08-23
    soldstatus $887,000

    Show marketing remark (274 chars)

    Well maintained 5-unit Victorian Style building with desirable floor plans and great location close to shopping, transportation and Hwy 580 & 880. All units are fully occupied by excellent long term tenants. Existing rents are very low & lots of room for increase.

20. 2017-08-23
    soldstatus $887,000

    Show marketing remark (274 chars)

    Well maintained 5-unit Victorian Style building with desirable floor plans and great location close to shopping, transportation and Hwy 580 & 880. All units are fully occupied by excellent long term tenants. Existing rents are very low & lots of room for increase.

21. 2017-07-21
    listed $848,000 Active

    Show marketing remark (274 chars)

    Well maintained 5-unit Victorian Style building with desirable floor plans and great location close to shopping, transportation and Hwy 580 & 880. All units are fully occupied by excellent long term tenants. Existing rents are very low & lots of room for increase.

22. 2017-07-21
    listed $848,000 Active 274-char remark

    Show marketing remark (274 chars)

    Well maintained 5-unit Victorian Style building with desirable floor plans and great location close to shopping, transportation and Hwy 580 & 880. All units are fully occupied by excellent long term tenants. Existing rents are very low & lots of room for increase.

23. 2017-07-20
    listed $848,000
24. 2011-09-09
    soldstatus $376,000
25. 2011-09-08
    soldstatus $376,000
26. 2011-05-29
    listed $399,500
27. 2001-09-28
    soldstatus $370,000
28. 1993-10-29
    soldstatus $240,000
29. 1986-12-29
    soldstatus $179,000
30. 1986-12-29
    soldstatus $179,000

ⓘ 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: $17,961 · $1,497/mo
• Projected year-2 tax: $17,961 · $1,497/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $118,980
• − Mortgage interest: −$44,532
• − Property taxes: −$17,961
• − Insurance: −$3,975
• − Repairs & maintenance: −$9,518
• − Management: −$9,518
• − Depreciation: −$23,127
• Taxable income: $10,347
• Est. tax owed @ 24.0%: −$2,483
• After-tax cash flow: $19,546/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: Oakland Unified
• NCES district ID: 0628050
• Math proficiency: 27% ▬ 0.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $55,194
• Composite: 29.52/100
• National rank: #11769
• State rank: #1007 of 1400 in CA

Livability — Oakland

• Score: 71/100
• State rank: #224
• US rank: #7245

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: Oakland, CA
• County: Alameda County · 1,614,355 people
• City population: 385,993
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 39,966
• Household income: $72,470
• Rent vs Own: 79.8% rent · 20.2% own
• Severe rent burden: 3757.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: Asian 32% Hispanic / Latino 25% White 20% Black 16% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 38% · Canada, Vietnam, China
• Languages at home: 47% English-only · Spanish 19% Chinese 14% Vietnamese 7%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -798.52%
• Current HPI: 334.5111
• Rent YoY: ▲ 1.86%
• 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

+344.1% since first listed

16 events — show timeline

• 2026-04-02 Listed $795,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-08-23 Pending — MLSListings
• 2017-08-23 Sold (Public Records) $887,000 Public Records
• 2017-08-23 Sold (MLS) $887,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-08-23 Sold (MLS) $887,000 San Francisco MLS
• 2017-08-23 Sold (MLS) $887,000 MLSListings
• 2017-07-21 Listed $848,000 San Francisco MLS
• 2017-07-21 Listed $848,000 MLSListings
• 2017-07-20 Listed $848,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2011-09-09 Sold (MLS) $376,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2011-09-08 Sold (Public Records) $376,000 Public Records
• 2011-05-29 Listed $399,500 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2001-09-28 Sold (Public Records) $370,000 Public Records
• 1993-10-29 Sold (Public Records) $240,000 Public Records
• 1986-12-29 Sold (Public Records) $179,000 Public Records
• 1986-12-29 Sold (Public Records) $179,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $17,961 · +4.4% YoY. Source: county tax records.