3104 Sacramento St · San Francisco, CA 94115

$3,150,000

None bd · 12.0 ba · 7,293 sqft · MultiFamily public records · 24 Days on market

Built 1928 2,631 sqft lot Est $3486k · 10% under

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Why this score? — see what drove the A 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
• ARV discount +11.8/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Appreciation +9.3/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 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

Located in San Francisco's prestigious Presidio Heights, 3104 Sacramento Street is a 12-unit corner apartment building offering an exceptional value-add opportunity in one of the city's most sought-after neighborhoods. The property consists of 9 studios and 3 one-bedroom units across 7,293 square feet, and includes 9 private garages. There is one vacant unit. Just steps from the boutique shops, restaurants and cafes along Sacramento Street, nearby amenities include the Jewish Community Center, Presidio Branch Library and the Presidio National Park. Please note the following: an ongoing electrical upgrade is in progress; the property requires a fire-alarm upgrade; a seismic retrofit is recom

Key facts

• Fire panels
• Boutique shops
• Upgraded electrical

Tags

• CORNER APARTMENT BUILDING
• VALUE-ADD OPPORTUNITY
• PRIVATE GARAGES
• BOUTIQUE SHOPS
• UPGRADED ELECTRICAL
• FIRE PANELS

What this means for you Summary

Snapshot

• This is a 9×?bd/1.0ba + 3×1bd/1.0ba units multifamily listed at $3.15M.

Deal economics

• At list price, monthly cash flow is $18k ($219k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($46k rent vs $3.15M).
• Recommended offer: $3.10M (1.5% below list) — sets the bar for market timing.
• Cap rate 13.2% 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 $46,449/mo this rent would consume 368% 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 $290k of equity ($22k loan paydown + $268k 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 $882k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$465k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($3.10M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,102,750 (1.5% below list)

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 1928 — 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: 1.47% ✓
• Cap rate: 13.24%
• Cash-on-cash: 24.82%
• DSCR: 2.10
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $3,486,054
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3104 Sacramento St	0.00mi	—/—	7,293 (0%)	0mo	$3,100,000	$425	100
3070 Jackson St	0.20mi	17/—	7,636 (+5%)	2mo	$4,700,000	$616	81
132-136 Presidio Ave	0.20mi	8/4.0	7,805 (+7%)	2mo	$7,850,000	$1,006	58
1901-1911 Webster St	0.67mi	11/—	7,208 (-1%)	14mo	$2,825,000	$392	56
3434 Sacramento St	0.28mi	—/—	8,370 (+15%)	11mo	$4,000,000	$478	54
1968 Post St	0.60mi	18/—	8,271 (+13%)	12mo	$2,800,000	$339	40
3892 Sacramento St	0.68mi	12/4.0	6,450 (-12%)	2mo	$4,620,000	$716	27

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: 43.4%
• Equity multiple: 4.18×
• Total profit: $2,808,456
• Equity at exit: $2,504,741

10-year hold

• IRR: 40.5%
• Equity multiple: 9.97×
• Total profit: $7,908,916
• Equity at exit: $5,082,273

Cash invested: $882,000 (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: 67.2×

Monthly cashflow live

• Estimated rent: $46,449 high
• Mortgage (P&I): −$16,519
• Tax from tax record: −$622 /mo · $7,464/yr
• Insurance: −$1,312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,754
• Net cashflow: $18,241

Break-even live

Break-even rent $23,359

Max offer price $3,150,000

Occupancy floor 56%

Sensitivity live

Price	-10% $20,024	-5% $19,133	+0% $18,241	+5% $17,350	+10% $16,458
Rent	-10% $14,572	-5% $16,407	+0% $18,241	+5% $20,076	+10% $21,911
Rate	-1.0pp $19,828	-0.5pp $19,042	base $18,241	+0.5pp $17,425	+1.0pp $16,595

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

Units	Beds	Baths	Est. rent
▸ 9× units	0	1	$35,163
▸ 3× units	1	1	$11,283
Total (12 units)			$46,449

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: $787,500
• Closing costs: $94,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-10
   status Pending
2. 2026-03-13
   listed $3,150,000 Active
3. 2024-04-01
   historical $1,895
4. 2024-03-14
   price $1,895
5. 2024-02-05
   listed $1,995
6. 2023-10-31
   historical
7. 2022-12-12
   historical

ⓘ 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: $7,464 · $622/mo
• Projected year-2 tax: $23,940 · $1,995/mo
• Expected delta: +$16,476/yr (+$1,373/mo · 220.7%)

ⓘ 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: $557,388
• − Mortgage interest: −$176,449
• − Property taxes: −$7,464
• − Insurance: −$15,750
• − Repairs & maintenance: −$44,591
• − Management: −$44,591
• − Depreciation: −$91,636
• Taxable income: $176,906
• Est. tax owed @ 24.0%: −$42,458
• After-tax cash flow: $176,437/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

+157794.7% since first listed

7 events — show timeline

• 2026-04-10 Pending — San Francisco MLS
• 2026-03-13 Listed $3,150,000 San Francisco MLS
• 2024-04-01 Rental Removed $1,895 APPFOLIO
• 2024-03-14 Price Changed $1,895 APPFOLIO
• 2024-02-05 Listed for Rent $1,995 APPFOLIO
• 2023-10-31 Rental Removed — APPFOLIO
• 2022-12-12 Rental Removed — APPFOLIO

Property tax history

+3.0%/yr

Latest (2025): $7,464 · -14.3% YoY. Source: county tax records.