409 - 411 E Rose St · Stockton, CA 95202

$499,900

16 bd · 16.0 ba · 2,904 sqft · MultiFamily public records · 45 Days on market

Built 1912 5,001 sqft lot $172/sqft · at area comps Est $483k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +6.0/15.0
• Appreciation +5.4/10.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Turnkey 4-Unit Investment Opportunity in the Heart of Stockton! Fully leased and generating immediate income, this well-maintained fourplex is the perfect addition to any investor's portfolio. Each unit is occupied by good tenants, offering stable cash flow from day one with strong rental demand in a centrally located area of Stockton. Conveniently located near shopping, dining, schools, and major commuter routes, making it highly attractive to tenants. Whether you're looking to expand your portfolio or secure a solid income-producing asset, this is an opportunity you don't want to miss. Please do not disturb tenants.

Key facts

• Fully leased
• Strong rental demand
• Stable cash flow

Tags

• 4-UNIT INVESTMENT OPPORTUNITY
• FULLY LEASED
• WELL-MAINTAINED FOURPLEX
• STABLE CASH FLOW
• STRONG RENTAL DEMAND
• CENTRALLY LOCATED

Property features AI

Finance

• Other: Four total units
• HOA & community: No homeowners association

Exterior

• Utilities: Internet available; Public water; Public sewer; Public district irrigation
• Home design: Residential income property (quadruplex); Apartments; Built in 1912
• Construction: Originally constructed in 1912
• Exterior features: No notable lot features

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms; Unit 3: 1 bedroom; Unit 4: 2 bedrooms
• Flooring: Flooring varies by unit
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom; Unit 3: 1 full bathroom; Unit 4: 1 full bathroom
• Heating & cooling: Wall furnace heating; Window AC units
• Interior features: Varies by unit; Two-story building
• Laundry & utility: Shared or on-site laundry (other)

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $611/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $500k).
• Recommended offer: $485k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 3.6% in Stockton — 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 57/100 on livability (#734 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, health & safety A, amenities A-; Watch: employment C-, schools D-, crime F.
• Stockton Unified (urban): math 23% / reading 46% proficiency, ranked #295 of 517 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 24 active listings in the ZIP; lower-income renter base — watch delinquency; 3,779 units permitted in San Joaquin County in 2024 (0 in 5+ unit buildings).
• At $6,989/mo this rent would consume 270% of the median local household income ($31k/yr) (locally 837% 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 $7k of equity ($3k loan paydown + $4k appreciation (0.7% local appreciation)).
• San Joaquin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($485k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $160k; list at $500k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $484,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% 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 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.40% ✓
• Cap rate: 12.16%
• Cash-on-cash: 20.94%
• DSCR: 1.93
• GRM: 6.0

CMA / ARV

• ARV (median comp): $483,304
• List price: $499,900
• Delta: 3.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

0.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 2.13×
• Total profit: $157,592
• Equity at exit: $163,002

10-year hold

• IRR: 25.6%
• Equity multiple: 4.02×
• Total profit: $422,158
• Equity at exit: $210,813

Cash invested: $139,972 (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 95202

• Home prices YoY: 0.2%
• Active inventory: 24
• Price-to-rent: 23.8×

Monthly cashflow live

• Estimated rent: $6,989 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$249 /mo · $2,988/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,468
• Net cashflow: $2,443

Break-even live

Break-even rent $3,897

Max offer price $499,900

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$6,988
Total (4 units)			$6,989

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $499,900 Active 45 DOM
2. 2026-06-17
   days on market $499,900 Active 44 DOM
3. 2026-06-16
   days on market $499,900 Active 43 DOM
4. 2026-06-15
   days on market $499,900 Active 42 DOM
5. 2026-06-14
   days on market $499,900 Active 40 DOM
6. 2026-06-10
   days on market $499,900 Active 37 DOM
7. 2026-06-09
   days on market $499,900 Active 36 DOM
8. 2026-06-08
   days on market $499,900 Active 35 DOM
9. 2026-06-07
   days on market $499,900 Active 34 DOM
10. 2026-06-05
    days on market $499,900 Active 31 DOM
11. 2026-06-03
    days on market $499,900 Active 30 DOM
12. 2026-06-03
    days on market $499,900 Active 29 DOM
13. 2026-06-01
    days on market $499,900 Active 28 DOM
14. 2026-05-31
    days on market $499,900 Active 27 DOM
15. 2001-11-02
    soldstatus $160,000
16. 1986-11-19
    soldstatus $25,500
17. 1983-08-16
    soldstatus $33,000
18. 1983-08-16
    soldstatus $33,000

ⓘ 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: $2,988 · $249/mo
• Projected year-2 tax: $3,799 · $317/mo
• Expected delta: +$812/yr (+$68/mo · 27.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 30 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,868
• − Mortgage interest: −$28,002
• − Property taxes: −$2,988
• − Insurance: −$2,500
• − Repairs & maintenance: −$6,709
• − Management: −$6,709
• − Depreciation: −$14,543
• Taxable income: $22,417
• Est. tax owed @ 24.0%: −$5,380
• After-tax cash flow: $23,930/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: Stockton Unified
• NCES district ID: 0638010
• Math proficiency: 23% ▲ 2.00%
• Reading proficiency: 46% ▲ 16.00%
• Median HH income: $37,563
• Composite: 28.65/100
• National rank: #6701
• State rank: #295 of 517 in CA

Livability — Stockton

• Score: 57/100
• State rank: #734
• US rank: #21638

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stockton, CA
• County: San Joaquin County · 729,570 people
• City population: 332,006
• Metro: Stockton, CA
• Population (ZIP): 7,066
• Household income: $31,020
• Rent vs Own: 91.1% rent · 8.9% own
• Severe rent burden: 837.0

Population outlook (San Joaquin County) Hauer SSP2

• Today (2025): 796,965 people
• By 2030: 828,849 · +4.0%
• By 2040: 885,611 · +11.1%
• By 2050: 929,798 · +16.7%
• By 2075: 994,578 · +24.8%
• By 2100: 971,291 · +21.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 50% Black 23% Two or more races 21% White 14% Asian 6%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Russian 2% Danish 1% Portuguese 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 69% English-only · Spanish 27% Other Asian/Pacific 2% Tagalog/Filipino 1%

Political lean MEDSL · San Joaquin

• 2024 margin: Toss-up / Even · D 48.0% · R 48.9% · Other 3.0%
• 2008→2024 swing: -11.6pp toward R · 2008: 10.7pp · 2024: -0.9pp
• All cycles: 2024: R+0.9 2020: D+13.9 2016: D+12.9 2012: D+8.9 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.70%
• Current HPI: 315.9916
• Rent YoY: —
• Metro: Stockton, 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

+384.8% since first listed

4 events — show timeline

• 2001-11-02 Sold (Public Records) $160,000 Public Records
• 1986-11-19 Sold (Public Records) $25,500 Public Records
• 1983-08-16 Sold (Public Records) $33,000 Public Records
• 1983-08-16 Sold (Public Records) $33,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $2,988 · +1.6% YoY. Source: county tax records.