404 W Oak St · Stockton, CA 95203

$1,080,000

240 bd · 225.0 ba · 9,868 sqft · MultiFamily public records · 11 Days on market

Built 1976 7,501 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 15 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

Welcome to Arena Park Apartments, a well-maintained 15-unit apartment community situated on a desirable corner lot in the heart of Downtown Stockton. The property features a private, gated, refreshed, parking garage with 11 covered parking spaces and ample street parking, providing a valuable amenity for residents. Recent capital improvements include an updated electrical panel box and upgraded electrical meter system, enhancing the property's infrastructure and long-term reliability. Additional income is generated through the onsite, owner-operated coin laundry facility, creating an attractive supplemental revenue stream. Ideally located just down the street from Banner Island Ballpark and

Key facts

• 7,501 sq ft lot
• Garage
• Built 1976

Tags

• PRIVATE GATED PARKING GARAGE
• UPDATED ELECTRICAL PANEL BOX
• ONSITE COIN LAUNDRY FACILITY
• CONVENIENT ACCESS TO DOWNTOWN

Property features AI

Finance

• Financial info: Multifamily income property with a total of 15 units
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking; Garage parking with interior access; Total of approximately 20 parking spaces
• Utilities: Cable available; Internet available; Natural gas connected; Public sewer; Public water with meter on site; Water served by a water/irrigation district; Separate electric meters for units
• Home design: Residential income property (apartments); Five-or-more-unit apartment building; Two-story building; Built in 1976; Known as Arena Park Apartments
• Construction: Shingle and flat roof (see remarks); Year built 1976
• Exterior features: Shingle and flat roofs (varies; see remarks); Corner lot with curbs and sidewalks; Enclosed patios (varies by unit)

Interior

• Kitchen: Free-standing gas oven; Free-standing gas range; Free-standing refrigerator
• Bedrooms: One-bedroom units (at least some units are 1-bedroom)
• Flooring: Carpet; Tile; Laminate; Linoleum; Flooring varies by unit
• Bathrooms: One full bathroom in at least some units
• Heating & cooling: Wall furnace heating; Ceiling fans; Wall-mounted cooling units; Cooling varies by unit
• Interior features: Updated/remodeled units with variations by unit; Finished basement with storage areas; Enclosed patios in some units; Dual-pane partial windows
• Laundry & utility: Coin-operated laundry in a common area; Washer/dryer owned (on-site)

What this means for you Summary

Snapshot

• This is a 15 × 16-bed/?-bath units multifamily listed at $1.08M.

Deal economics

• At list price, monthly cash flow is $15k ($182k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($28k rent vs $1.08M).
• Cap rate 23.1% 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: 64 active listings in the ZIP; 3,779 units permitted in San Joaquin County in 2024 (0 in 5+ unit buildings).
• At $27,725/mo this rent would consume 525% of the median local household income ($63k/yr) (locally 1034% 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 $7k of loan paydown is wiped out by about $32k of value loss. Plan a longer hold.
• San Joaquin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $302k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 3y ago; this cycle's ask is 108443% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $515k; list at $1.08M implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,080,000

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 1976 — 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 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?
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: 2.57% ✓
• Cap rate: 23.11%
• Cash-on-cash: 60.06%
• DSCR: 3.67
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 58.8%
• Equity multiple: 3.61×
• Total profit: $788,984
• Equity at exit: $161,032

10-year hold

• IRR: 63.6%
• Equity multiple: 7.38×
• Total profit: $1,928,299
• Equity at exit: $93,379

Cash invested: $302,400 (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 95203

• Active inventory: 64
• Price-to-rent: 48.7×

Monthly cashflow live

• Estimated rent: $27,725 medium
• Mortgage (P&I): −$5,664
• Tax from tax record: −$653 /mo · $7,841/yr
• Insurance: −$450
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,822
• Net cashflow: $15,136

Break-even live

Break-even rent $8,566

Max offer price $1,080,000

Occupancy floor 40%

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

Units	Beds	Baths	Est. rent
▸ 15× units	16	—	$27,720
Total (15 units)			$27,725

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: $270,000
• Closing costs: $32,400
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-14
   statusdays on market $1,080,000 Pending 11 DOM
2. 2026-06-10
   days on market $1,080,000 Active 9 DOM
3. 2026-06-09
   days on market $1,080,000 Active 8 DOM
4. 2026-06-08
   days on market $1,080,000 Active 7 DOM
5. 2026-06-07
   days on market $1,080,000 Active 6 DOM
6. 2026-06-05
   days on market $1,080,000 Active 3 DOM
7. 2026-06-03
   days on market $1,080,000 Active 2 DOM
8. 2026-06-02
   remarks 699-char remark
9. 2026-06-02
   listed $1,080,000 Active 1 DOM

ⓘ 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: $7,841 · $653/mo
• Projected year-2 tax: $8,208 · $684/mo
• Expected delta: +$367/yr (+$31/mo · 4.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major 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: $332,700
• − Mortgage interest: −$60,497
• − Property taxes: −$7,841
• − Insurance: −$5,400
• − Repairs & maintenance: −$26,616
• − Management: −$26,616
• − Depreciation: −$31,418
• Taxable income: $174,312
• Est. tax owed @ 24.0%: −$41,835
• After-tax cash flow: $139,793/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): 15,930
• Household income: $63,411
• Rent vs Own: 57.0% rent · 43.0% own
• Severe rent burden: 1034.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 58% White 17% Two or more races 14% Asian 10% Black 9% Native American 5%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Serbian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, China
• Languages at home: 54% English-only · Spanish 38% Other Asian/Pacific 4% Tagalog/Filipino 2%

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: ▼ -342.07%
• Current HPI: 455.9551
• 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

-99.2% since first listed

24 events — show timeline

• 2026-05-07 Listed for Rent $995 RENTEC
• 2026-05-06 Rental Removed $995 RENTEC
• 2026-04-26 Price Changed $995 RENTEC
• 2026-04-01 Listed for Rent $1,095 RENTEC
• 2026-03-23 Rental Removed $1,095 RENTEC
• 2026-03-13 Listed for Rent $1,095 RENTEC
• 2025-12-16 Rental Removed $1,000 RENTEC
• 2025-12-03 Listed for Rent $1,000 RENTEC
• 2025-11-27 Rental Removed $995 RENTEC
• 2025-09-23 Listed for Rent $995 RENTEC
• 2025-09-15 Rental Removed $995 RENTEC
• 2025-09-09 Listed for Rent $995 RENTEC
• 2025-02-05 Rental Removed $1,000 RENTEC
• 2025-01-12 Listed for Rent $1,000 RENTEC
• 2023-08-13 Rental Removed $935 RENTEC
• 2023-07-13 Listed for Rent $935 RENTEC
• 2022-02-07 Price Changed $935 RENT.
• 2015-04-03 Sold (Public Records) $515,000 Public Records
• 2010-11-19 Sold (Public Records) $350,100 Public Records
• 2007-01-16 Sold (Public Records) $775,000 Public Records
• 2006-04-01 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2002-07-12 Sold (Public Records) $445,000 Public Records
• 1988-06-21 Sold (Public Records) $60,000 Public Records
• 1982-12-29 Sold (Public Records) $131,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $7,841 · +1.6% YoY. Source: county tax records.