3558 Maple Ave

Oakland, CA 94602

$1,499,000C-

None bd · None ba · 5,127 sqft · Built 1919 · MultiFamily · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $17,364/mo
• Mortgage (P&I): −$7,861
• Tax + insurance: −$2,498
• HOA: −$0
• Vac / Maint / Mgmt: −$3,646
• Net cashflow: $3,358/mo
• Annual: $40,300/yr
• Cap rate: 8.98%
• Cash-on-cash: 9.60%
• DSCR: 1.43
• 1% rule: 1.16%
• Cash to close: $419,720

Investor read

• This is a 3×1bd/1ba + 2×2bd/1ba + 2×3bd/1ba units multifamily listed at $1.50M. Condition is rated fair.
• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $420/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.50M).
• It's been on market 86 days — a 6% lower offer ($1.41M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.41M (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $45k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#224 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: schools C-, crime F, cost of living F.
• Oakland Unified (urban): math 27% / reading 33% proficiency, ranked #1,007 of 1,400 in CA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.5%/yr); 111 active listings in the ZIP; high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $420k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 9.0% vs local median 2.4% in Oakland — 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.
• At $17,364/mo this rent would consume 170% of the median local household income ($122k/yr) (locally 1018% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Cabinets appear slightly worn
• Minor: Bathroom fixtures — Fixtures appear slightly worn
• Moderate: Exterior siding — Siding appears weathered
• Moderate: Carpeted stairs — Carpet appears worn
• Moderate: Paint — Paint appears chipped and worn