601 Van Ness Ave #53 · San Francisco, CA 94102

$850,000

3 bd · 2.0 ba · 1,127 sqft · Condo public records · 97 Days on market

Built 1982 $754/sqft · 12% below area Est $969k · 12% under $1550/mo HOA · 29% of rent

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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).

• ARV discount +13.0/15.0
• Appreciation +7.4/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Cash flow +1.8/30.0
• 1% rule +1.3/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Rarely available 3 bedroom, 2 bathroom top floor condominium at Opera Plaza! This is a beautifully updated and remodeled upper townhouse. Gorgeous kitchen and baths! Updated stainless appliances Bosch induction cooktop, Liebherr refrigerator, Bosch induction oven and microwave oven and Miele dishwasher. Stone counter tops and quality beech cabinetry. Bathrooms feature quality finshes. In unit washer and dryer. Excellent closet space! Enjoy all of the benefits of Opera Plaza including on-site management, 24 hour security staff, concierge, 24 hour heated pool and spa, fitness and more. Best central San Francisco location is close to City Hall, cultural venues, transportation and freeways. HOA fee includes water, garbage, high speed internet, building maintenance and insurance, including earthquake insurance, and amenities. Optional leased parking on site.

Key facts

• Stone counter tops
• $1,550 HOA
• Parking

Tags

• TOP FLOOR CONDOMINIUM
• UPDATED STAINLESS APPLIANCES
• STONE COUNTER TOPS
• QUALITY BEECH CABINETRY
• IN UNIT WASHER AND DRYER
• EXCELLENT CLOSET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $850k.

Deal economics

• At list price, monthly cash flow is $-3k ($-38k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (66.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $535k (37.0% below list).
• Recommended offer: $285k (66.5% below list) — sets the bar for cash-flow.

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 (+10.1%/yr); 63 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $5,352/mo this rent would consume 106% of the median local household income ($60k/yr) (locally 3769% 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 $47k of equity ($6k loan paydown + $41k appreciation (4.8% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$75k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($774k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $710k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $284,710 (66.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 67% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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?
10. 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.
11. 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.
12. 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: 0.63% ✗
• Cap rate: 1.78%
• Cash-on-cash: -16.13%
• DSCR: 0.28
• GRM: 13.2

CMA / ARV

• ARV (median comp): $968,888
• List price: $850,000
• Delta: -12.27%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
461 Oak St #2	0.60mi	3/1.5	1,052 (-7%)	2mo	$968,888	$921	57

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

Projected returns pro-forma

4.8% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $11,608
• Equity at exit: $471,243

10-year hold

• IRR: 6.1%
• Equity multiple: 2.20×
• Total profit: $286,044
• Equity at exit: $804,797

Cash invested: $238,000 (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 94102

• Home prices YoY: 2.7%
• Rents YoY: 10.1%
• Active inventory: 63
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $5,352 high
• Mortgage (P&I): −$4,457
• Tax from tax record: −$1,066 /mo · $12,795/yr
• Insurance: −$354
• HOA: −$1,550
• Vacancy / Maint / Mgmt: −$1,124
• Net cashflow: $-3,200

Break-even live

Break-even rent $9,402

Max offer price $284,710

Occupancy floor —

Sensitivity live

Price	-10% $-2,719	-5% $-2,959	+0% $-3,200	+5% $-3,441	+10% $-3,681
Rent	-10% $-3,623	-5% $-3,411	+0% $-3,200	+5% $-2,989	+10% $-2,777
Rate	-1.0pp $-2,772	-0.5pp $-2,984	base $-3,200	+0.5pp $-3,420	+1.0pp $-3,644

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
851 Van Ness Ave #306 San Francisco, CA	2.0	2.0	909	$4,700	$5.17	14d	1	0.11mi
750 Golden Gate Ave San Francisco, CA	3.0	1.0–2.5	681	$2,999	$4.40	45d	1	0.12mi
1100 Gough St San Francisco, CA	2.0	1.0	785	$4,500	$5.73	19d	1	0.22mi
248 Myrtle St San Francisco, CA	2.0	1.0	975	$4,500	$4.62	19d	1	0.23mi
750 Ofarrell St San Francisco, CA	2.0	1.0–2.0	725	$2,895	$3.99	9d	1	0.32mi
100 Van Ness Ave #1477 San Francisco, CA	1.0–2.0	1.0–2.0	865	$7,990	$9.24	0d	2	0.39mi
1450 Franklin St #505 San Francisco, CA	2.0	2.0	1326	$7,600	$5.73	12d	1	0.44mi
8 10th St San Francisco, CA	2.0	1.0–2.0	919	$8,790	$9.56	0d	26	0.44mi
1080 Sutter St San Francisco, CA	2.0	1.0	750	$4,150	$5.53	45d	1	0.46mi
1080 Sutter St #201 San Francisco, CA	3.0	2.0	1151	$6,800	$5.91	0d	1	0.46mi
55 9th St San Francisco, CA	2.0	1.0–2.0	833	$5,625	$6.75	0d	1	0.46mi
1701-1717 Bush St Unit 16 San Francisco, CA	2.0	1.0	750	$4,000	$5.33	45d	1	0.48mi
616 Hayes St San Francisco, CA	2.0	1.0	983	$5,895	$6.00	23d	1	0.49mi
965 Sutter St San Francisco, CA	2.0	1.0–2.0	618	$3,755	$6.07	0d	1	0.50mi
1545 Pine St San Francisco, CA	2.0	2.0	1140	$5,109	$4.48	25d	1	0.50mi
725 Leavenworth St Unit 5 San Francisco, CA	2.0	2.0	742	$4,600	$6.20	16d	1	0.51mi
325 Octavia St San Francisco, CA	2.0	1.0–2.0	811	$7,563	$9.33	0d	1	0.51mi
1635 Gough St San Francisco, CA	3.0	1.0–2.0	880	$9,295	$10.56	0d	2	0.52mi
737 Post St San Francisco, CA	2.0	1.0–2.0	515	$4,955	$9.61	0d	10	0.53mi
1028 Market St San Francisco, CA	2.0	1.0	526	$5,121	$9.73	3d	6	0.54mi
1415 Eddy St San Francisco, CA	2.0	1.0	800	$4,950	$6.19	25d	1	0.55mi
1 Brady St San Francisco, CA	2.0	1.0–2.0	889	$7,373	$8.29	0d	26	0.59mi
1600 California St San Francisco, CA	2.0	1.0	1171	$5,295	$4.52	6d	1	0.60mi
1489 Webster St San Francisco, CA	2.0	1.0	783	$4,095	$5.23	21d	1	0.61mi
30 Otis St San Francisco, CA	2.0	1.0–2.0	874	$10,000	$11.44	0d	15	0.61mi
1501-1519 Polk St San Francisco, CA	2.0	1.0	1171	$5,295	$4.52	6d	2	0.61mi
1288 Howard St #1908 San Francisco, CA	1.0–2.0	1.0–2.0	782	$6,710	$8.58	3d	2	0.62mi
1024 Bush St San Francisco, CA	3.0	2.5	900	$4,750	$5.28	45d	1	0.64mi
1408 California St San Francisco, CA	2.0	2.0	830	$6,295	$7.58	0d	1	0.66mi
1475 Fillmore St San Francisco, CA	2.0	1.0–2.0	749	$7,483	$9.98	0d	18	0.67mi
801 Fillmore St Apt 1 San Francisco, CA	2.0	1.0	970	$6,195	$6.39	45d	1	0.68mi
1735 Van Ness Ave San Francisco, CA	2.0	1.0	1064	$12,225	$11.49	9d	2	0.68mi
1501 Larkin St San Francisco, CA	2.0	1.0	1000	$4,200	$4.20	0d	1	0.69mi
10 Cyril Magnin St San Francisco, CA	2.0	2.0	1300	$5,000	$3.85	45d	1	0.72mi
6 Mint Plz San Francisco, CA	2.0	2.0	915	$7,995	$8.74	6d	1	0.72mi
73 Sumner St San Francisco, CA	2.0	2.0	1100	$4,750	$4.32	45d	1	0.73mi
140 S Van Ness Ave #1679 San Francisco, CA	2.0	2.0	1250	$5,760	$4.61	0d	1	0.73mi
2 Mint Plz San Francisco, CA	2.0	1.0	800	$4,500	$5.62	45d	1	0.74mi
72 Langton St San Francisco, CA	2.0	2.0	1470	$5,950	$4.05	5d	1	0.75mi
2200 Sacramento St #1207 San Francisco, CA	2.0	2.0	1000	$10,000	$10.00	23d	1	0.76mi

HOA detail condo

• Monthly dues: $1,550 · $18,600/yr
• Likely covers: watertrashinternetpooldoormansecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-16
   status Pending 865-char remark

   Show marketing remark (865 chars)

   Rarely available 3 bedroom, 2 bathroom top floor condominium at Opera Plaza! This is a beautifully updated and remodeled upper townhouse. Gorgeous kitchen and baths! Updated stainless appliances Bosch induction cooktop, Liebherr refrigerator, Bosch induction oven and microwave oven and Miele dishwasher. Stone counter tops and quality beech cabinetry. Bathrooms feature quality finshes. In unit washer and dryer. Excellent closet space! Enjoy all of the benefits of Opera Plaza including on-site management, 24 hour security staff, concierge, 24 hour heated pool and spa, fitness and more. Best central San Francisco location is close to City Hall, cultural venues, transportation and freeways. HOA fee includes water, garbage, high speed internet, building maintenance and insurance, including earthquake insurance, and amenities. Optional leased parking on site.

2. 2026-03-26
   status Active 865-char remark

   Show marketing remark (865 chars)

   Rarely available 3 bedroom, 2 bathroom top floor condominium at Opera Plaza! This is a beautifully updated and remodeled upper townhouse. Gorgeous kitchen and baths! Updated stainless appliances Bosch induction cooktop, Liebherr refrigerator, Bosch induction oven and microwave oven and Miele dishwasher. Stone counter tops and quality beech cabinetry. Bathrooms feature quality finshes. In unit washer and dryer. Excellent closet space! Enjoy all of the benefits of Opera Plaza including on-site management, 24 hour security staff, concierge, 24 hour heated pool and spa, fitness and more. Best central San Francisco location is close to City Hall, cultural venues, transportation and freeways. HOA fee includes water, garbage, high speed internet, building maintenance and insurance, including earthquake insurance, and amenities. Optional leased parking on site.

3. 2026-01-30
   listed $850,000 Active 865-char remark

   Show marketing remark (865 chars)

   Rarely available 3 bedroom, 2 bathroom top floor condominium at Opera Plaza! This is a beautifully updated and remodeled upper townhouse. Gorgeous kitchen and baths! Updated stainless appliances Bosch induction cooktop, Liebherr refrigerator, Bosch induction oven and microwave oven and Miele dishwasher. Stone counter tops and quality beech cabinetry. Bathrooms feature quality finshes. In unit washer and dryer. Excellent closet space! Enjoy all of the benefits of Opera Plaza including on-site management, 24 hour security staff, concierge, 24 hour heated pool and spa, fitness and more. Best central San Francisco location is close to City Hall, cultural venues, transportation and freeways. HOA fee includes water, garbage, high speed internet, building maintenance and insurance, including earthquake insurance, and amenities. Optional leased parking on site.

4. 2006-08-03
   soldstatus $710,500
5. 2004-06-04
   soldstatus $485,000 459-char remark

   Show marketing remark (459 chars)

   One of only 6 3 BR Townhouses in complex. Spacious living area with large kitchen. Western exposure. Lots of light. Leased parking at $170/mo. 24 hr. security. On-site management. Amenities galore. ATM, shops, movies, restaurants, bookstore on plaza. Near opera, symphony & ballet. Good public transit. Seller would like to include furniture in sale. Property sold As Is. Buyers to cooperate in seller's 1031 Exchange. Please use SFAR purchase contract.

6. 2004-06-04
   soldstatus $485,100

   Show marketing remark (459 chars)

   One of only 6 3 BR Townhouses in complex. Spacious living area with large kitchen. Western exposure. Lots of light. Leased parking at $170/mo. 24 hr. security. On-site management. Amenities galore. ATM, shops, movies, restaurants, bookstore on plaza. Near opera, symphony & ballet. Good public transit. Seller would like to include furniture in sale. Property sold As Is. Buyers to cooperate in seller's 1031 Exchange. Please use SFAR purchase contract.

7. 2004-05-24
   historical 459-char remark

   Show marketing remark (459 chars)

   One of only 6 3 BR Townhouses in complex. Spacious living area with large kitchen. Western exposure. Lots of light. Leased parking at $170/mo. 24 hr. security. On-site management. Amenities galore. ATM, shops, movies, restaurants, bookstore on plaza. Near opera, symphony & ballet. Good public transit. Seller would like to include furniture in sale. Property sold As Is. Buyers to cooperate in seller's 1031 Exchange. Please use SFAR purchase contract.

8. 2004-04-20
   listed $485,000 459-char remark

   Show marketing remark (459 chars)

   One of only 6 3 BR Townhouses in complex. Spacious living area with large kitchen. Western exposure. Lots of light. Leased parking at $170/mo. 24 hr. security. On-site management. Amenities galore. ATM, shops, movies, restaurants, bookstore on plaza. Near opera, symphony & ballet. Good public transit. Seller would like to include furniture in sale. Property sold As Is. Buyers to cooperate in seller's 1031 Exchange. Please use SFAR purchase contract.

ⓘ 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: $12,795 · $1,066/mo
• Projected year-2 tax: $12,795 · $1,066/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 2/10 Low 8 d/yr ≥79°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: $64,222
• − Mortgage interest: −$47,613
• − Property taxes: −$12,795
• − Insurance: −$4,250
• − Repairs & maintenance: −$5,138
• − Management: −$5,138
• − HOA: −$18,600
• − Depreciation: −$24,727
• Taxable loss: −$54,039
• Est. tax savings @ 24.0%: +$12,969
• After-tax cash flow: $-25,430/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): 35,976
• Household income: $60,431
• Rent vs Own: 92.0% rent · 8.0% own
• Severe rent burden: 3769.0

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: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: White 31% Asian 28% Hispanic / Latino 22% Two or more races 13% Black 9% Native American 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Scotch-Irish 2% Romanian 2% Lithuanian 2%
• Foreign-born: 41% · Canada, China, Vietnam
• Languages at home: 52% English-only · Spanish 16% Chinese 10% Vietnamese 5%

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: ▲ 4.80%
• Current HPI: 184.4403
• Rent YoY: ▲ 10.11%
• 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

+75.3% since first listed

8 events — show timeline

• 2026-05-16 Pending — San Francisco MLS
• 2026-03-26 Relisted — San Francisco MLS
• 2026-01-30 Listed $850,000 San Francisco MLS
• 2006-08-03 Sold (Public Records) $710,500 Public Records
• 2004-06-04 Sold (Public Records) $485,100 Public Records
• 2004-06-04 Sold (MLS) $485,000 San Francisco MLS
• 2004-05-24 Delisted — San Francisco MLS
• 2004-04-20 Listed $485,000 San Francisco MLS

Property tax history

+2.3%/yr

Latest (2025): $12,795 · +3.0% YoY. Source: county tax records.