24 Park Ln · Richmond, CA 94803

$3,200

2 bd · 2.0 ba · 1,080 sqft · Condo public records · 2 Days on market

Built 1972

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious and impeccably clean END unit townhome in the highly sought after Hilltop Green community. The 2-story quiet and bright townhome features laminate floors throughout, fresh interior paint, granite kitchen countertops, stainless steel appliances and pantry in the kitchen, remodeled bathrooms, and an inside full-size laundry room. The oversized bedrooms are located upstairs and offer walk-in and ample closet spaces. The relaxing and private patio is conveniently located next to the covered carport spaces assigned to the unit. Do not miss the excellent community amenities such as a gleaming swimming pool, spa, clubhouse, tennis and basketball courts, playground and greenbelt. The home is strategically located in close proximity to downtown, parks, Pinole Vista Shopping Center, restaurants and easy commute routes.

Key facts

• Modern appliances
• Modern amenities
• Close to shopping

Tags

• CLOSE TO SHOPPING
• CLOSE TO TRANSPORTATION
• MODERN APPLIANCES
• MODERN AMENITIES

Property features AI

Finance

• HOA & community: No homeowners association; Not a senior community

Exterior

• Parking: Covered parking; Guest parking available
• Utilities: Natural gas connected; Public sewer
• Home design: Residential condominium; Updated/remodeled; Two stories
• Construction: No ADU/second unit
• Exterior features: Front landscaping and additional landscape features; Curbs and gutters; No private pool or spa; Does not allow horses

Interior

• Kitchen: Free standing electric range; Gas water heater
• Bedrooms: 2 bedrooms (located on the upper level)
• Bathrooms: 2 bathrooms total — 1 full bath and 1 partial bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Updated/remodeled condition; Two-story layout; No basement
• Laundry & utility: Washer/dryer hookups only

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $3k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $3k).
• Cap rate 685.3% vs local median 2.7% in Richmond — 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 62/100 on livability (#497 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A, health & safety B+; Watch: schools F, crime F, amenities F.
• West Contra Costa Unified (suburban): math 24% / reading 35% proficiency, ranked #993 of 1,400 in CA (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 88 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,169 units permitted in Contra Costa County in 2024 (896 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $22 of loan paydown is wiped out by about $96 of value loss. Plan a longer hold.
• Contra Costa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $896 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y ago; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $3,200

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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 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: 88.56% ✓
• Cap rate: 685.25%
• Cash-on-cash: 2424.86%
• DSCR: 108.89
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 129.45×
• Total profit: $115,090
• Equity at exit: $477

10-year hold

• IRR: —
• Equity multiple: 279.90×
• Total profit: $249,893
• Equity at exit: $277

Cash invested: $896 (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 94803

• Active inventory: 88
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,834 high
• Mortgage (P&I): −$17
• Tax est. 1.5%: −$4 /mo · $48/yr
• Insurance: −$1
• HOA est. from 2 same-building comps: −$406
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $1,811

Break-even live

Break-even rent $542

Max offer price $3,200

Occupancy floor 31%

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: $800
• Closing costs: $96
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Park Ln El Sobrante, CA	2.0	1.5	1080	$3,200	$2.96	2d	1	0.03mi
934 Appian Way El Sobrante, CA	3.0	1.0	835	$2,995	$3.59	5d	1	0.58mi
760 Alhambra Rd El Sobrante, CA	2.0	1.0	725	$2,150	$2.97	24d	1	0.58mi
4763 Appian Way Unit 09 El Sobrante, CA	2.0	1.5	1000	$2,500	$2.50	24d	1	0.66mi
450 Corte Arango Unit 1 El Sobrante, CA	2.0	1.5	800	$1,900	$2.38	43d	1	0.66mi
507 Chabre Ct El Sobrante, CA	2.0	2.5	1248	$2,695	$2.16	12d	1	0.67mi
507 Chabre Ct El Sobrante, CA	2.0	2.5	1248	$2,695	$2.16	43d	1	0.67mi
4811 Appian Way Unit 4/3 El Sobrante, CA	2.0	1.5	960	$2,200	$2.29	20d	1	0.68mi
6000 Sunhill Cir El Sobrante, CA	1.0–2.0	1.0–2.0	950	$3,045	$3.21	3d	3	0.69mi
4827 Appian Way El Sobrante, CA	2.0	1.5	1020	$2,225	$2.18	43d	1	0.70mi
4861 Appian Way Unit 8 El Sobrante, CA	2.0	1.0	725	$1,795	$2.48	22d	1	0.70mi
4861 Appian Way El Sobrante, CA	2.0	1.0	725	$1,795	$2.48	5d	1	0.70mi
4861 Appian Way Unit 7 El Sobrante, CA	2.0	1.0	725	$1,795	$2.48	43d	1	0.70mi
5071 Appian Way El Sobrante, CA	2.0	1.0	800	$2,195	$2.74	43d	1	0.76mi
3185 Garrity Way Richmond, CA	1.0–2.0	1.0–2.0	967	$3,620	$3.74	1d	17	0.77mi
458 Valley View Rd Apt 5 El Sobrante, CA	2.0	1.0	800	$2,575	$3.22	43d	1	0.80mi
4481 Appian Way El Sobrante, CA	1.0–2.0	1.0–1.5	750	$3,033	$4.04	24d	2	0.84mi
4474 Appian Way Unit 14 El Sobrante, CA	2.0	1.0	750	$2,250	$3.00	2d	1	0.88mi
3078 Deseret Dr Richmond, CA	3.0	2.0	1150	$3,500	$3.04	22d	1	0.98mi
3078 Deseret Dr Richmond, CA	3.0	2.0	1150	$3,500	$3.04	24d	1	0.98mi
2689 Limerick Rd San Pablo, CA	3.0	2.0	1170	$3,650	$3.12	43d	1	1.01mi
3400 Richmond Pkwy San Pablo, CA	1.0–2.0	1.0–2.0	906	$2,417	$2.67	1d	67	1.03mi
1588 Ridgecrest Rd Pinole, CA	3.0	2.0	1044	$3,050	$2.92	24d	1	1.03mi
4001 Mozart Dr El Sobrante, CA	3.0	2.0	1357	$3,499	$2.58	5d	1	1.22mi
3535 El Portal Dr El Sobrante, CA	1.0–3.0	1.0–3.0	969	$3,212	$3.31	1d	16	1.30mi
1252 Marionola Way Pinole, CA	3.0	1.5	1167	$3,195	$2.74	43d	1	1.30mi
4067 Wesley Way El Sobrante, CA	3.0	2.0	1245	$3,900	$3.13	10d	1	1.34mi
2633 Rim Rd San Pablo, CA	3.0	2.0	1187	$3,500	$2.95	43d	1	1.36mi
3643 West Ct Unit 1546418P Richmond, CA	1.0	1.0	807	$2,294	$2.84	12d	1	1.48mi
3614 Stoneglen S San Pablo, CA	2.0	2.0	1176	$2,395	$2.04	43d	1	1.50mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-13
   remarks 175-char remark
2. 2026-06-13
   listed $3,200 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,005
• − Mortgage interest: −$179
• − Property taxes: −$48
• − Insurance: −$16
• − Repairs & maintenance: −$2,720
• − Management: −$2,720
• − HOA: −$4,872
• − Depreciation: −$93
• Taxable income: $23,356
• Est. tax owed @ 24.0%: −$5,605
• After-tax cash flow: $16,121/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: West Contra Costa Unified
• NCES district ID: 0632550
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $64,837
• Composite: 30.04/100
• National rank: #11623
• State rank: #993 of 1400 in CA

Livability — Richmond

• Score: 62/100
• State rank: #497
• US rank: #16759

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, CA
• County: Contra Costa County · 1,059,880 people
• City population: 183,357
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 27,659
• Household income: $118,447
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 613.0

Population outlook (Contra Costa County) Hauer SSP2

• Today (2025): 1,287,720 people
• By 2030: 1,364,937 · +6.0%
• By 2040: 1,506,209 · +17.0%
• By 2050: 1,624,373 · +26.1%
• By 2075: 1,853,193 · +43.9%
• By 2100: 1,901,231 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: Hispanic / Latino 30% White 27% Asian 23% Two or more races 18% Black 12%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 32% · Canada, China, South Korea
• Languages at home: 57% English-only · Spanish 23% Other Indo-European 7% Tagalog/Filipino 4%

Political lean MEDSL · Contra Costa

• 2024 margin: Solid D (+38.0) · D 67.3% · R 29.4% · Other 3.3%
• 2008→2024 swing: +0.2pp no change · 2008: 37.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+45.3 2016: D+43.5 2012: D+33.7 2008: D+37.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -531.44%
• Current HPI: 274.5772
• Rent YoY: —
• 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

-86.7% since first listed

20 events — show timeline

• 2026-06-11 Price Changed $3,200 BAREIS
• 2026-06-11 Listed $3,000 BAREIS
• 2022-08-26 Sold (Public Records) $450,000 Public Records
• 2022-08-26 Sold (MLS) $450,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2022-08-12 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2022-08-11 Price Changed $465,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2022-07-10 Listed $475,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-05-21 Sold (Public Records) $360,000 Public Records
• 2020-05-21 Sold (MLS) $360,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-04-09 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-03-23 Listed $369,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2001-07-13 Sold (Public Records) $185,000 Public Records
• 2001-07-13 Sold (MLS) $185,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2001-06-14 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2001-06-04 Listed $180,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2000-11-20 Sold (Public Records) $165,000 Public Records
• 2000-11-20 Sold (MLS) $165,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2000-09-23 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2000-09-10 Listed $155,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1972-09-15 Sold (Public Records) $24,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $7,855 · +2.3% YoY. Source: county tax records.