844 Baker St · San Francisco, CA 94115

$2,400,000

10 bd · 6.0 ba · 3,750 sqft · MultiFamily public records · 10 Days on market

Built 1907 2,500 sqft lot $640/sqft · 24% above area Est $1931k · 24% over

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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 +25.7/30.0
• Appreciation +9.3/10.0
• DSCR +8.6/10.0
• 1% rule +5.4/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

10.0 GRM 6.92% Cap Add value/fixer 844 Baker St. is a wood-frame building originally constructed in 1907 and compliant with the San Francisco soft story retrofit requirements. The property consists of one studio, two junior 1-bedroom/1-bathroom units, three 2-bedroom/1-bathroom units, and a large garage. Three of the six units and the garage will be delivered vacant at the close of escrow. Two of the vacant units (3 & 4) need renovations. The units are separately metered for gas and electricity and have individual water heaters. The roof was replaced in the past few years.

Key facts

• Wood-frame building
• Roof was replaced
• 2,500 sq ft lot

Tags

• WOOD-FRAME BUILDING
• SEPARATELY METERED FOR GAS
• INDIVIDUAL WATER HEATERS
• ROOF WAS REPLACED

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/?-bath units multifamily listed at $2.40M.

Deal economics

• At list price, monthly cash flow is $6k ($69k/yr) — positive. Per door: $955/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $2.40M).
• Cap rate 9.2% 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 (+20.6%/yr); 61 active listings in the ZIP; high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $25,031/mo this rent would consume 198% of the median local household income ($152k/yr) (locally 2151% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $221k of equity ($17k loan paydown + $204k appreciation (8.5% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (8.5% appreciation + 8.0% rent growth), your $672k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$354k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $475k; list at $2.40M implies a 405% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,400,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. 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.
8. 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.
9. 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: 1.04% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 8.0

CMA / ARV

• ARV (median comp): $1,930,648
• List price: $2,400,000
• Delta: 24.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
62-64 Baker St	0.52mi	11/2.0 (+1)	3,660 (-2%)	13mo	$1,600,000	$437	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.52% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 3.33×
• Total profit: $1,564,791
• Equity at exit: $1,908,374

10-year hold

• IRR: 29.1%
• Equity multiple: 7.85×
• Total profit: $4,605,636
• Equity at exit: $3,872,208

Cash invested: $672,000 (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 94115

• Home prices YoY: 3.9%
• Rents YoY: 20.6%
• Active inventory: 61
• Price-to-rent: 47.9×

Monthly cashflow live

• Estimated rent: $25,031 high
• Mortgage (P&I): −$12,586
• Tax from tax record: −$456 /mo · $5,474/yr
• Insurance: −$1,000
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,257
• Net cashflow: $5,732

Break-even live

Break-even rent $17,775

Max offer price $2,400,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	—	$25,032
Total (6 units)			$25,031

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: $600,000
• Closing costs: $72,000
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-04
   status Pending 587-char remark

   Show marketing remark (587 chars)

   10.0 GRM 6.92% Cap Add value/fixer 844 Baker St. is a wood-frame building originally constructed in 1907 and compliant with the San Francisco soft story retrofit requirements. The property consists of one studio, two junior 1-bedroom/1-bathroom units, three 2-bedroom/1-bathroom units, and a large garage. Three of the six units and the garage will be delivered vacant at the close of escrow. Two of the vacant units (3 & 4) need renovations. The units are separately metered for gas and electricity and have individual water heaters. The roof was replaced in the past few years.

2. 2026-04-24
   listed $2,400,000 Active 587-char remark

   Show marketing remark (587 chars)

   10.0 GRM 6.92% Cap Add value/fixer 844 Baker St. is a wood-frame building originally constructed in 1907 and compliant with the San Francisco soft story retrofit requirements. The property consists of one studio, two junior 1-bedroom/1-bathroom units, three 2-bedroom/1-bathroom units, and a large garage. Three of the six units and the garage will be delivered vacant at the close of escrow. Two of the vacant units (3 & 4) need renovations. The units are separately metered for gas and electricity and have individual water heaters. The roof was replaced in the past few years.

3. 2002-05-21
   soldstatus $475,000

ⓘ 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: $5,474 · $456/mo
• Projected year-2 tax: $18,240 · $1,520/mo
• Expected delta: +$12,766/yr (+$1,064/mo · 233.2%)

ⓘ 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 2/10 Low 7 d/yr ≥78°F today · 17 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: $300,372
• − Mortgage interest: −$134,437
• − Property taxes: −$5,474
• − Insurance: −$12,000
• − Repairs & maintenance: −$24,030
• − Management: −$24,030
• − Depreciation: −$69,818
• Taxable income: $30,583
• Est. tax owed @ 24.0%: −$7,340
• After-tax cash flow: $61,449/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): 32,629
• Household income: $151,524
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 2151.0

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 0.70)
• Race & ethnicity: White 49% Asian 20% Two or more races 11% Hispanic / Latino 11% Black 10%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Scotch-Irish 3% Romanian 3% Lithuanian 3%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 6% Chinese 5% Russian/Polish/Slavic 3%

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: ▲ 8.52%
• Current HPI: 224.7175
• Rent YoY: ▲ 20.62%
• 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

+405.3% since first listed

3 events — show timeline

• 2026-05-04 Pending — San Francisco MLS
• 2026-04-24 Listed $2,400,000 San Francisco MLS
• 2002-05-21 Sold (Public Records) $475,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $5,474 · +3.1% YoY. Source: county tax records.