1151 Davis St · Redwood City, CA 94061

$3,100,000

8 bd · 7.0 ba · 5,510 sqft · MultiFamily public records · 128 Days on market

Built 1961 7,059 sqft lot Est $2783k · 11% over

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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 +24.4/30.0
• DSCR +7.9/10.0
• Schools +5.8/10.0
• 1% rule +5.7/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 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

Introducing 1151 Davis St. in Redwood City. This 7 unit gem is located in a fantastic west of El Camino neighborhood and feature one 2 bedroom, five 1 bedroom and one studio units. Two units benefit from balconies and two others from private yards. All units are uniformly and completely renovated: new kitchens, new bathrooms, flooring, doors, molding, Schlage Smart Locks, etc. All electrical main panels have been upgraded. All but one of the sub-panels has been upgraded. A bike shed featuring top of the line wall mount bike racks was recently constructed onsite. Come see this beautiful turnkey investment opportunity.

Key facts

• New kitchens
• New bathrooms
• 7,059 sq ft lot

Tags

• TWO OTHERS FROM PRIVATE YARDS
• NEW KITCHENS
• NEW BATHROOMS
• TURNKEY INVESTMENT OPPORTUNITY

Property features AI

Finance

• Other: Tenant-paid utilities: electric and gas
• Financial info: Gross scheduled income approximately $222,840; Annual rental income approximately $202,740; Annual gross income approximately $216,155; Other income approximately $20,100; Total expenses approximately $73,879; Utility expenses approximately $17,051; Trash expense approximately $4,673; Landscape expense approximately $400; Vacancy factor 3%; Gross rent multiplier 13.91; Unit rents observed: one 2-bed at $3,300; five 1-beds at $2,150 each; one other unit at $1,275

Exterior

• Parking: Covered parking; Attached garage (1 garage space); Six carport spaces (minimum); Total listed parking spaces: 1
• Utilities: Public water; Public sewer; Public utilities service
• Home design: Multifamily property; Single building (one structure)
• Construction: Concrete perimeter foundation
• Exterior features: Composition roof

Interior

• Bedrooms: One 2-bedroom unit; Five 1-bedroom units; One studio/other unit (bedrooms not specified)
• Bathrooms: Each unit includes one full bathroom
• Heating & cooling: Wall furnace heating
• Interior features: Wall furnace heating
• Laundry & utility: Tenants responsible for electric and gas utilities; Separate electric and separate gas meters

What this means for you Summary

Snapshot

• This is a 7 × 7-bed/7.0-bath units multifamily listed at $3.10M.

Deal economics

• At list price, monthly cash flow is $6k ($76k/yr) — positive. Per door: $901/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($33k rent vs $3.10M).
• Recommended offer: $2.73M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 1.3% in Redwood City — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Sequoia Union High (suburban): math 52% / reading 69% proficiency, ranked #159 of 1,400 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.7%/yr); 62 active listings in the ZIP; high-income renter base; 1,019 units permitted in San Mateo County in 2024 (484 in 5+ unit buildings).
• At $33,140/mo this rent would consume 272% of the median local household income ($146k/yr) (locally 1550% 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 $21k of loan paydown is wiped out by about $93k of value loss. Plan a longer hold.
• San Mateo County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $868k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($2.73M) is reasonable based on typical stale-listing flexibility.
• 5 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 $2.27M; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $2,728,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 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 1961 — 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. 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: 1.07% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.72%
• DSCR: 1.39
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $2,782,550
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1011-1013 Hudson St	0.21mi	9/7.0 (+1)	5,084 (-8%)	17mo	$3,400,000	$669	58
146 Madison Ave	0.42mi	9/7.0 (+1)	5,944 (+8%)	7mo	$3,000,000	$505	56
517 Vera Ave	0.20mi	9/6.0 (+1)	6,249 (+13%)	9mo	$2,890,000	$462	52
134 Bonita Ave	0.69mi	8/4.0	4,838 (-12%)	0mo	$2,060,000	$426	35

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 · 6.7% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $26,701
• Equity at exit: $462,220

10-year hold

• IRR: 13.7%
• Equity multiple: 2.27×
• Total profit: $1,105,114
• Equity at exit: $268,031

Cash invested: $868,000 (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 94061

• Rents YoY: 6.7%
• Active inventory: 62
• Price-to-rent: 54.6×

Monthly cashflow live

• Estimated rent: $33,140 medium
• Mortgage (P&I): −$16,257
• Tax from tax record: −$2,328 /mo · $27,933/yr
• Insurance: −$1,292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,959
• Net cashflow: $6,304

Break-even live

Break-even rent $25,160

Max offer price $3,100,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 7× units	7	7	$33,138
Total (7 units)			$33,140

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: $775,000
• Closing costs: $93,000
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $3,100,000 Active 128 DOM
2. 2026-06-17
   days on market $3,100,000 Active 127 DOM
3. 2026-06-16
   days on market $3,100,000 Active 126 DOM
4. 2026-06-15
   days on market $3,100,000 Active 125 DOM
5. 2026-06-13
   days on market $3,100,000 Active 123 DOM
6. 2026-06-13
   days on market $3,100,000 Active 122 DOM
7. 2026-06-09
   days on market $3,100,000 Active 119 DOM
8. 2026-06-08
   days on market $3,100,000 Active 118 DOM
9. 2026-06-07
   days on market $3,100,000 Active 117 DOM
10. 2026-06-04
    days on market $3,100,000 Active 114 DOM
11. 2026-06-03
    days on market $3,100,000 Active 113 DOM
12. 2026-06-02
    days on market $3,100,000 Active 112 DOM
13. 2026-06-01
    days on market $3,100,000 Active 111 DOM
14. 2026-05-31
    days on market $3,100,000 Active 110 DOM
15. 2026-02-10
    listed $3,100,000 Active 624-char remark

    Show marketing remark (624 chars)

    Introducing 1151 Davis St. in Redwood City. This 7 unit gem is located in a fantastic west of El Camino neighborhood and feature one 2 bedroom, five 1 bedroom and one studio units. Two units benefit from balconies and two others from private yards. All units are uniformly and completely renovated: new kitchens, new bathrooms, flooring, doors, molding, Schlage Smart Locks, etc. All electrical main panels have been upgraded. All but one of the sub-panels has been upgraded. A bike shed featuring top of the line wall mount bike racks was recently constructed onsite. Come see this beautiful turnkey investment opportunity.

16. 2026-02-10
    listed $3,100,000 Active 624-char remark

    Show marketing remark (624 chars)

    Introducing 1151 Davis St. in Redwood City. This 7 unit gem is located in a fantastic west of El Camino neighborhood and feature one 2 bedroom, five 1 bedroom and one studio units. Two units benefit from balconies and two others from private yards. All units are uniformly and completely renovated: new kitchens, new bathrooms, flooring, doors, molding, Schlage Smart Locks, etc. All electrical main panels have been upgraded. All but one of the sub-panels has been upgraded. A bike shed featuring top of the line wall mount bike racks was recently constructed onsite. Come see this beautiful turnkey investment opportunity.

17. 2026-01-03
    historical
18. 2025-11-03
    listed Active
19. 2019-06-07
    soldstatus $2,275,000
20. 2004-08-27
    soldstatus $950,000
21. 2004-08-27
    soldstatus $950,000
22. 2004-08-27
    soldstatus $950,000
23. 2004-05-19
    historical
24. 2004-05-08
    listed $995,000
25. 2004-05-08
    listed $995,000
26. 2000-08-31
    soldstatus $900,000
27. 1972-06-22
    soldstatus $84,000

ⓘ 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: $27,933 · $2,328/mo
• Projected year-2 tax: $27,933 · $2,328/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $397,680
• − Mortgage interest: −$173,648
• − Property taxes: −$27,933
• − Insurance: −$15,500
• − Repairs & maintenance: −$31,814
• − Management: −$31,814
• − Depreciation: −$90,182
• Taxable income: $26,788
• Est. tax owed @ 24.0%: −$6,429
• After-tax cash flow: $69,224/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: Sequoia Union High
• NCES district ID: 0636390
• Math proficiency: 52% ▲ 5.00%
• Reading proficiency: 69% ▲ 7.00%
• Median HH income: $106,953
• Composite: 58.48/100
• National rank: #2055
• State rank: #159 of 1400 in CA

Livability — Redwood City

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Redwood City, CA
• County: San Mateo County · 733,415 people
• City population: 83,154
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 37,048
• Household income: $146,265
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 1550.0

Population outlook (San Mateo County) Hauer SSP2

• Today (2025): 864,008 people
• By 2030: 910,523 · +5.4%
• By 2040: 997,285 · +15.4%
• By 2050: 1,071,189 · +24.0%
• By 2075: 1,197,206 · +38.6%
• By 2100: 1,192,523 · +38.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 40% Hispanic / Latino 38% Two or more races 15% Asian 14% Native American 3% Black 3%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 2%
• Foreign-born: 29% · Canada, China, South Korea
• Languages at home: 55% English-only · Spanish 30% Chinese 4% Other Asian/Pacific 2%

Political lean MEDSL · San Mateo

• 2024 margin: Solid D (+50.3) · D 73.5% · R 23.2% · Other 3.3%
• 2008→2024 swing: +1.6pp toward D · 2008: 48.7pp · 2024: 50.3pp
• All cycles: 2024: D+50.3 2020: D+57.7 2016: D+57.7 2012: D+44.8 2008: D+48.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1088.78%
• Current HPI: 364.9509
• Rent YoY: ▲ 6.70%
• 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

+3590.5% since first listed

13 events — show timeline

• 2026-02-10 Listed $3,100,000 MLSListings
• 2026-02-10 Listed $3,100,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-01-03 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-11-03 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-06-07 Sold (Public Records) $2,275,000 Public Records
• 2004-08-27 Sold (Public Records) $950,000 Public Records
• 2004-08-27 Sold (MLS) $950,000 MLSListings
• 2004-08-27 Sold (MLS) $950,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-05-19 Listing Removed — MLSListings
• 2004-05-08 Listed $995,000 MLSListings
• 2004-05-08 Listed $995,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2000-08-31 Sold (Public Records) $900,000 Public Records
• 1972-06-22 Sold (Public Records) $84,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $27,933 · +1.1% YoY. Source: county tax records.