2031-2033 Chanslor Ave · Richmond, CA 94801

$479,000

3 bd · 2.0 ba · 1,850 sqft · MultiFamily public records · 311 Days on market

Built 1939 6,215 sqft lot $259/sqft · 27% below area Est $656k · 27% 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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.4/10.0
• Rent growth +3.5/5.0
• Livability +3.1/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Monthly rent: 2031 Chanslor Avenue – $1,185.74; 2033 Chanslor Avenue – $1,300. Convenient location with BART station within walking distance and post office directly across the street.

Key facts

• Post office
• Bart station
• Convenient location

Tags

• CONVENIENT LOCATION
• BART STATION
• POST OFFICE

🏷️ Possibly a rental listed for sale. The $479,000 price doesn't fit this home's estimated sale value (~$655,705) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $479k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive. Per door: $212/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 $450k (6.2% below list).
• Recommended offer: $422k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: crime F, amenities F, cost of living 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.
• Zoned schools: Nystrom Elementary (444 students, 59% FRL); Lovonya Dejean Middle (404 students, 69% FRL); John F. Kennedy High (823 students, 66% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents rising (+4.0%/yr); 101 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,169 units permitted in Contra Costa County in 2024 (896 in 5+ unit buildings).
• At $4,495/mo this rent would consume 66% of the median local household income ($82k/yr) (locally 1277% 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 $3k of loan paydown is wiped out by about $14k 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.

Negotiation context

• It's been on market 311 days — a 12% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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.
• Current owner paid $124k; list at $479k implies a 286% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $421,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 311 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 1939 — 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 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?
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: 0.94% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.80%
• DSCR: 1.17
• GRM: 8.9

CMA / ARV

• ARV (median comp): $655,705
• List price: $479,000
• Delta: -26.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
146 15th St	0.30mi	4/2.0 (+1)	1,608 (-13%)	15mo	$697,000	$433	47
740 18th St	0.72mi	3/3.0	1,890 (+2%)	15mo	$710,000	$376	46
2552 Roosevelt Ave	0.57mi	2/2.0 (-1)	1,680 (-9%)	16mo	$485,000	$289	40
575 Civic Center St	0.56mi	2/2.0 (-1)	1,653 (-11%)	14mo	$610,000	$369	40

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 · 3.98% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-46,167
• Equity at exit: $71,420

10-year hold

• IRR: 1.3%
• Equity multiple: 1.10×
• Total profit: $13,145
• Equity at exit: $41,415

Cash invested: $134,120 (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 94801

• Rents YoY: 4.0%
• Active inventory: 101
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $4,495 high
• Mortgage (P&I): −$2,512
• Tax from tax record: −$415 /mo · $4,983/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$944
• Net cashflow: $424

Break-even live

Break-even rent $3,958

Max offer price $479,000

Occupancy floor 86%

Sensitivity live

Price	-10% $695	-5% $560	+0% $424	+5% $289	+10% $153
Rent	-10% $69	-5% $247	+0% $424	+5% $602	+10% $779
Rate	-1.0pp $665	-0.5pp $546	base $424	+0.5pp $300	+1.0pp $174

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,496
Total (2 units)			$4,495

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36 15th St Richmond, CA	3.0	2.0	1536	$3,500	$2.28	7d	1	0.28mi
36 15th St Richmond, CA	3.0	2.0	1536	$3,500	$2.28	24d	1	0.28mi
1621 Florida Ave Richmond, CA	2.0	1.0	1320	$2,200	$1.67	26d	1	0.30mi
1419 Nevin Plz Richmond, CA	3.0	3.5	1640	$2,900	$1.77	26d	1	0.41mi
418 Marina Way Richmond, CA	2.0	2.0	1470	$2,780	$1.89	46d	1	0.44mi
487 Metro Walk Way Richmond, CA	3.0	3.5	1739	$3,500	$2.01	26d	1	0.44mi
2941 Chavez Ln Richmond, CA	3.0	2.0	1388	$3,849	$2.77	24d	1	0.87mi
365 S 38th St Richmond, CA	4.0	2.0	1307	$3,600	$2.75	22d	1	0.99mi
365 S 38th St Richmond, CA	4.0	2.0	1307	$3,350	$2.56	13d	1	0.99mi
921 Marina Way S Richmond, CA	1.0–2.0	1.5–2.5	2200	$3,600	$1.64	46d	3	1.00mi
430 S 38th St Richmond, CA	3.0	2.0	1228	$3,774	$3.07	46d	1	1.04mi
941 Marina Way S Richmond, CA	2.0	2.5	2200	$3,800	$1.73	46d	1	1.04mi

Listing history 26 events

1. 2026-06-21
   days on market $479,000 Active 311 DOM
2. 2026-06-18
   days on market $479,000 Active 308 DOM
3. 2026-06-17
   days on market $479,000 Active 307 DOM
4. 2026-06-16
   days on market $479,000 Active 306 DOM
5. 2026-06-15
   days on market $479,000 Active 305 DOM
6. 2026-06-13
   days on market $479,000 Active 303 DOM
7. 2026-06-13
   days on market $479,000 Active 302 DOM
8. 2026-06-09
   days on market $479,000 Active 299 DOM
9. 2026-06-08
   days on market $479,000 Active 298 DOM
10. 2026-06-07
    days on market $479,000 Active 297 DOM
11. 2026-06-04
    days on market $479,000 Active 294 DOM
12. 2026-06-03
    days on market $479,000 Active 293 DOM
13. 2026-06-02
    days on market $479,000 Active 292 DOM
14. 2026-06-01
    days on market $479,000 Active 291 DOM
15. 2026-05-31
    days on market $479,000 Active 290 DOM
16. 2025-11-11
    status Active 196-char remark

    Show marketing remark (196 chars)

    Monthly rent: 2031 Chanslor Avenue – $1,185.74; 2033 Chanslor Avenue – $1,300. Convenient location with BART station within walking distance and post office directly across the street.

17. 2025-11-11
    price $479,000 196-char remark

    Show marketing remark (196 chars)

    Monthly rent: 2031 Chanslor Avenue – $1,185.74; 2033 Chanslor Avenue – $1,300. Convenient location with BART station within walking distance and post office directly across the street.

18. 2025-10-16
    historical 196-char remark

    Show marketing remark (196 chars)

    Monthly rent: 2031 Chanslor Avenue – $1,185.74; 2033 Chanslor Avenue – $1,300. Convenient location with BART station within walking distance and post office directly across the street.

19. 2025-09-09
    price $449,000 196-char remark

    Show marketing remark (196 chars)

    Monthly rent: 2031 Chanslor Avenue – $1,185.74; 2033 Chanslor Avenue – $1,300. Convenient location with BART station within walking distance and post office directly across the street.

20. 2025-07-24
    status Active 196-char remark

    Show marketing remark (196 chars)

    Monthly rent: 2031 Chanslor Avenue – $1,185.74; 2033 Chanslor Avenue – $1,300. Convenient location with BART station within walking distance and post office directly across the street.

21. 2025-07-14
    historical 196-char remark

    Show marketing remark (196 chars)

    Monthly rent: 2031 Chanslor Avenue – $1,185.74; 2033 Chanslor Avenue – $1,300. Convenient location with BART station within walking distance and post office directly across the street.

22. 2025-07-09
    listed $499,000 Active 196-char remark

    Show marketing remark (196 chars)

    Monthly rent: 2031 Chanslor Avenue – $1,185.74; 2033 Chanslor Avenue – $1,300. Convenient location with BART station within walking distance and post office directly across the street.

23. 2013-06-27
    soldstatus $124,000 Sold 163-char remark

    Show marketing remark (163 chars)

    Investors Alert! Cash flow duplex in Richmond with good upside potential. Some kitchen updates. Good size units and a large lot. Fully occupied with nice tenants.

24. 2013-06-17
    soldstatus $123,000
25. 2012-09-11
    status Pending 163-char remark

    Show marketing remark (163 chars)

    Investors Alert! Cash flow duplex in Richmond with good upside potential. Some kitchen updates. Good size units and a large lot. Fully occupied with nice tenants.

26. 2012-09-05
    listed $119,000 New 163-char remark

    Show marketing remark (163 chars)

    Investors Alert! Cash flow duplex in Richmond with good upside potential. Some kitchen updates. Good size units and a large lot. Fully occupied with nice tenants.

ⓘ 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: $4,983 · $415/mo
• Projected year-2 tax: $4,983 · $415/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 4/10 Moderate 7 d/yr ≥83°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,940
• − Mortgage interest: −$26,831
• − Property taxes: −$4,983
• − Insurance: −$2,395
• − Repairs & maintenance: −$4,315
• − Management: −$4,315
• − Depreciation: −$13,935
• Taxable loss: −$2,835
• Est. tax savings @ 24.0%: +$680
• After-tax cash flow: $5,771/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): 33,591
• Household income: $81,728
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 1277.0

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: Predominantly Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 19% White 12% Black 11% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Italian 3% Lithuanian 1% Swedish 1%
• Foreign-born: 40% · Canada, China, Vietnam
• Languages at home: 32% English-only · Spanish 61% Other Asian/Pacific 3% Chinese 2%

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: ▼ -334.07%
• Current HPI: 390.1045
• Rent YoY: ▲ 3.98%
• 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

+302.5% since first listed

11 events — show timeline

• 2025-11-11 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-11-11 Price Changed $479,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-10-16 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-09-09 Price Changed $449,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-07-24 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-07-14 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-07-09 Listed $499,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2013-06-27 Sold (MLS) $124,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2013-06-17 Sold (Public Records) $123,000 Public Records
• 2012-09-11 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2012-09-05 Listed $119,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+4.2%/yr

Latest (2025): $4,983 · +1.2% YoY. Source: county tax records.