740-742 37th Ave · San Francisco, CA 94121

$1,400,000

6 bd · 4.0 ba · 3,240 sqft · MultiFamily public records · 185 Days on market

Built 1963 2,996 sqft lot $432/sqft · 20% below area Est $1743k · 20% under ↓ 18% since listing

---

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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• 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 MLS

New Price! Located in the heart of San Francisco's highly desirable Richmond District, this well-maintained duplex at 740-742 37th Avenue presents an excellent opportunity for investors or owner-users seeking long-term value in a prime neighborhood. The property consists of two spacious residential units, both currently tenant-occupied on a month-to-month basis, offering flexibility for future repositioning. Each unit features a thoughtful and functional layout with three bedrooms and two full bathrooms, including a primary suite. The homes offer formal living rooms and dining rooms, providing classic San Francisco charm, along with full-size kitchens ideal for everyday living and entertaining. In addition to the two main units, the property includes multiple vacant rooms on the ground floor, presenting potential for additional storage, office use, or future improvement opportunities (buyer to verify use with the City). The building also offers a side-by-side garage, providing convenient parking, and a rear backyard, perfect for outdoor enjoyment or shared use. This location is a true highlight. The property is within walking distance to Golden Gate Park, offering easy access to open green spaces, trails, and recreational amenities. Just steps away is Balboa Street, one of the Richmond District's most vibrant commercial corridors, featuring a wide selection of popular restaurants, cafs, bakeries, grocery stores, schools, and neighborhood services. Public transportation options are nearby, making commuting throughout the city convenient and efficient. With its strong unit layouts, flexible tenancy, bonus ground-floor space, and unbeatable Richmond District location, 740-742 37th Avenue represents a rare opportunity to own a versatile duplex in one of San Francisco's most sought-after neighborhoods.

Key facts

• Side-by-side garage
• Golden gate park
• Rear backyard

Tags

• GOLDEN GATE PARK
• BONUS GROUND-FLOOR SPACE
• REAR BACKYARD
• SIDE-BY-SIDE GARAGE

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $1k/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 $1.36M (2.9% below list).
• Recommended offer: $1.23M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.1% in San Francisco — 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 76/100 on livability (#90 in CA, #3,143 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• San Francisco Unified (urban): math 50% / reading 56% proficiency, ranked #322 of 1,400 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+13.0%/yr); 74 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $13,595/mo this rent would consume 122% of the median local household income ($133k/yr) (locally 2072% 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 $10k of loan paydown is wiped out by about $42k of value loss. Plan a longer hold.
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $392k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($1.23M) is reasonable based on typical stale-listing flexibility.

Recommended offer $1,232,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 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. Built in 1963 — 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. Schools are B-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?
8. 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?
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: 0.97% ✗
• Cap rate: 8.20%
• Cash-on-cash: 6.83%
• DSCR: 1.30
• GRM: 8.6

CMA / ARV

• ARV (median comp): $1,743,412
• List price: $1,400,000
• Delta: -19.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
870-872 38th Ave	0.17mi	7/5.0 (+1)	3,272 (+1%)	6mo	$1,700,000	$520	76
600-602 39th Ave	0.21mi	5/— (-1)	2,980 (-8%)	1mo	$2,122,000	$712	71
630 40th Ave	0.23mi	5/2.0 (-1)	3,100 (-4%)	6mo	$1,650,000	$532	64
435 44th Ave	0.60mi	5/4.0 (-1)	3,120 (-4%)	2mo	$1,735,000	$556	59
529-531 37th Ave	0.27mi	6/5.0	3,641 (+12%)	8mo	$1,800,000	$494	56
2929 Clement St	0.57mi	6/4.0	3,440 (+6%)	11mo	$1,650,000	$480	54
2427-2429 Cabrillo	0.66mi	6/4.0	2,990 (-8%)	3mo	$2,167,750	$725	54
5544-5546 Fulton St	0.34mi	7/2.0 (+1)	3,570 (+10%)	1mo	$2,028,888	$568	53
415-417 44th Ave	0.62mi	6/4.0	3,500 (+8%)	8mo	$1,950,000	$557	51
5414-5416 Fulton St	0.42mi	5/3.0 (-1)	3,465 (+7%)	12mo	$1,680,000	$485	50
1215 34th Ave	0.75mi	6/2.0	3,075 (-5%)	5mo	$2,050,000	$667	44
695 48th Ave	0.68mi	6/6.0	3,580 (+10%)	7mo	$2,110,000	$589	37

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-13,479
• Equity at exit: $208,745

10-year hold

• IRR: 13.1%
• Equity multiple: 2.27×
• Total profit: $496,097
• Equity at exit: $121,046

Cash invested: $392,000 (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 San Francisco: 0 Strongly Tenant-Friendly · D+57

SF Rent Ordinance + Eviction Protections; relocation $10k+; one of strictest in US.

Methodology + full state rankings →

ZIP-level market 94121

• Rents YoY: 13.0%
• Active inventory: 74
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $13,595 high
• Mortgage (P&I): −$7,342
• Tax from tax record: −$585 /mo · $7,017/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,855
• Net cashflow: $2,230

Break-even live

Break-even rent $10,772

Max offer price $1,400,000

Occupancy floor 79%

Sensitivity live

Price	-10% $3,023	-5% $2,627	+0% $2,230	+5% $1,834	+10% $1,438
Rent	-10% $1,156	-5% $1,693	+0% $2,230	+5% $2,767	+10% $3,304
Rate	-1.0pp $2,935	-0.5pp $2,586	base $2,230	+0.5pp $1,867	+1.0pp $1,498

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$13,596
Total (2 units)			$13,595

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
806 35th Ave San Francisco, CA	5.0	3.0	2296	$13,995	$6.10	3d	1	0.15mi

Listing history 17 events

1. 2026-06-18
   days on market $1,400,000 Active 185 DOM
2. 2026-06-17
   days on market $1,400,000 Active 184 DOM
3. 2026-06-16
   days on market $1,400,000 Active 183 DOM
4. 2026-06-15
   days on market $1,400,000 Active 182 DOM
5. 2026-06-13
   days on market $1,400,000 Active 180 DOM
6. 2026-06-13
   days on market $1,400,000 Active 179 DOM
7. 2026-06-09
   days on market $1,400,000 Active 176 DOM
8. 2026-06-08
   days on market $1,400,000 Active 175 DOM
9. 2026-06-07
   days on market $1,400,000 Active 174 DOM
10. 2026-06-04
    days on market $1,400,000 Active 171 DOM
11. 2026-06-03
    days on market $1,400,000 Active 170 DOM
12. 2026-06-02
    days on market $1,400,000 Active 169 DOM
13. 2026-06-01
    days on market $1,400,000 Active 168 DOM
14. 2026-05-31
    days on market $1,400,000 Active 167 DOM
15. 2026-03-12
    price $1,400,000 1828-char remark

    Show marketing remark (1828 chars)

    New Price! Located in the heart of San Francisco's highly desirable Richmond District, this well-maintained duplex at 740-742 37th Avenue presents an excellent opportunity for investors or owner-users seeking long-term value in a prime neighborhood. The property consists of two spacious residential units, both currently tenant-occupied on a month-to-month basis, offering flexibility for future repositioning. Each unit features a thoughtful and functional layout with three bedrooms and two full bathrooms, including a primary suite. The homes offer formal living rooms and dining rooms, providing classic San Francisco charm, along with full-size kitchens ideal for everyday living and entertaining. In addition to the two main units, the property includes multiple vacant rooms on the ground floor, presenting potential for additional storage, office use, or future improvement opportunities (buyer to verify use with the City). The building also offers a side-by-side garage, providing convenient parking, and a rear backyard, perfect for outdoor enjoyment or shared use. This location is a true highlight. The property is within walking distance to Golden Gate Park, offering easy access to open green spaces, trails, and recreational amenities. Just steps away is Balboa Street, one of the Richmond District's most vibrant commercial corridors, featuring a wide selection of popular restaurants, cafs, bakeries, grocery stores, schools, and neighborhood services. Public transportation options are nearby, making commuting throughout the city convenient and efficient. With its strong unit layouts, flexible tenancy, bonus ground-floor space, and unbeatable Richmond District location, 740-742 37th Avenue represents a rare opportunity to own a versatile duplex in one of San Francisco's most sought-after neighborhoods.

16. 2026-01-13
    price $1,600,000 1828-char remark

    Show marketing remark (1828 chars)

    New Price! Located in the heart of San Francisco's highly desirable Richmond District, this well-maintained duplex at 740-742 37th Avenue presents an excellent opportunity for investors or owner-users seeking long-term value in a prime neighborhood. The property consists of two spacious residential units, both currently tenant-occupied on a month-to-month basis, offering flexibility for future repositioning. Each unit features a thoughtful and functional layout with three bedrooms and two full bathrooms, including a primary suite. The homes offer formal living rooms and dining rooms, providing classic San Francisco charm, along with full-size kitchens ideal for everyday living and entertaining. In addition to the two main units, the property includes multiple vacant rooms on the ground floor, presenting potential for additional storage, office use, or future improvement opportunities (buyer to verify use with the City). The building also offers a side-by-side garage, providing convenient parking, and a rear backyard, perfect for outdoor enjoyment or shared use. This location is a true highlight. The property is within walking distance to Golden Gate Park, offering easy access to open green spaces, trails, and recreational amenities. Just steps away is Balboa Street, one of the Richmond District's most vibrant commercial corridors, featuring a wide selection of popular restaurants, cafs, bakeries, grocery stores, schools, and neighborhood services. Public transportation options are nearby, making commuting throughout the city convenient and efficient. With its strong unit layouts, flexible tenancy, bonus ground-floor space, and unbeatable Richmond District location, 740-742 37th Avenue represents a rare opportunity to own a versatile duplex in one of San Francisco's most sought-after neighborhoods.

17. 2025-12-15
    listed $1,700,000 Active 1828-char remark

    Show marketing remark (1828 chars)

    New Price! Located in the heart of San Francisco's highly desirable Richmond District, this well-maintained duplex at 740-742 37th Avenue presents an excellent opportunity for investors or owner-users seeking long-term value in a prime neighborhood. The property consists of two spacious residential units, both currently tenant-occupied on a month-to-month basis, offering flexibility for future repositioning. Each unit features a thoughtful and functional layout with three bedrooms and two full bathrooms, including a primary suite. The homes offer formal living rooms and dining rooms, providing classic San Francisco charm, along with full-size kitchens ideal for everyday living and entertaining. In addition to the two main units, the property includes multiple vacant rooms on the ground floor, presenting potential for additional storage, office use, or future improvement opportunities (buyer to verify use with the City). The building also offers a side-by-side garage, providing convenient parking, and a rear backyard, perfect for outdoor enjoyment or shared use. This location is a true highlight. The property is within walking distance to Golden Gate Park, offering easy access to open green spaces, trails, and recreational amenities. Just steps away is Balboa Street, one of the Richmond District's most vibrant commercial corridors, featuring a wide selection of popular restaurants, cafs, bakeries, grocery stores, schools, and neighborhood services. Public transportation options are nearby, making commuting throughout the city convenient and efficient. With its strong unit layouts, flexible tenancy, bonus ground-floor space, and unbeatable Richmond District location, 740-742 37th Avenue represents a rare opportunity to own a versatile duplex in one of San Francisco's most sought-after neighborhoods.

ⓘ 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: $7,017 · $585/mo
• Projected year-2 tax: $10,640 · $887/mo
• Expected delta: +$3,623/yr (+$302/mo · 51.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥74°F today · 16 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: $163,140
• − Mortgage interest: −$78,422
• − Property taxes: −$7,017
• − Insurance: −$7,000
• − Repairs & maintenance: −$13,051
• − Management: −$13,051
• − Depreciation: −$40,727
• Taxable income: $3,872
• Est. tax owed @ 24.0%: −$929
• After-tax cash flow: $25,834/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: San Francisco Unified
• NCES district ID: 0634410
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $81,249
• Composite: 50.14/100
• National rank: #4088
• State rank: #322 of 1400 in CA

Livability — San Francisco

• Score: 76/100
• State rank: #90
• US rank: #3143

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: San Francisco, CA
• County: San Francisco County · 827,552 people
• City population: 827,552
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 41,995
• Household income: $133,358
• Rent vs Own: 56.1% rent · 43.9% own
• Severe rent burden: 2072.0

Population outlook (San Francisco County) Hauer SSP2

• Today (2025): 1,030,936 people
• By 2030: 1,110,409 · +7.7%
• By 2040: 1,270,010 · +23.2%
• By 2050: 1,435,001 · +39.2%
• By 2075: 1,779,074 · +72.6%
• By 2100: 1,966,767 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Asian 42% White 41% Two or more races 10% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Scotch-Irish 3% Lithuanian 2% Romanian 2%
• Foreign-born: 35% · China, Canada, Vietnam
• Languages at home: 59% English-only · Chinese 22% Russian/Polish/Slavic 4% Spanish 4%

Political lean MEDSL · San Francisco

• 2024 margin: Solid D (+64.8) · D 80.3% · R 15.5% · Other 4.1%
• 2008→2024 swing: -5.7pp toward R · 2008: 70.5pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+72.5 2016: D+76.1 2012: D+70.2 2008: D+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1078.57%
• Current HPI: 266.5786
• Rent YoY: ▲ 13.03%
• 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

-17.6% since first listed

3 events — show timeline

• 2026-03-12 Price Changed $1,400,000 San Francisco MLS
• 2026-01-13 Price Changed $1,600,000 San Francisco MLS
• 2025-12-15 Listed $1,700,000 San Francisco MLS

Property tax history

+1.8%/yr

Latest (2025): $7,017 · +3.8% YoY. Source: county tax records.