118 Yorkshire Ct

Vallejo, CA 94591

$924,750C-

8 bd · 7.2 ba · 4,629 sqft · Built 1977 · MultiFamily · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,924/mo
• Mortgage (P&I): −$4,849
• Tax + insurance: −$1,385
• HOA: −$0
• Vac / Maint / Mgmt: −$1,874
• Net cashflow: $816/mo
• Annual: $9,789/yr
• Cap rate: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• 1% rule: 0.97%
• Cash to close: $258,930

Investor read

• This is a 4 × 2-bed/1.8-bath units multifamily listed at $925k.
• At list price, monthly cash flow is $816 ($10k/yr) — positive. Per door: $204/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $892k (3.5% below list).
• It's been on market 101 days — a 9% lower offer ($842k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $842k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#304 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D-, crime F, cost of living F.
• Vallejo City Unified (urban): math 20% / reading 30% proficiency, ranked #1,124 of 1,400 in CA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.4%/yr); 185 active listings in the ZIP; solid renter incomes; 1,472 units permitted in Solano County in 2024 (131 in 5+ unit buildings).
• Solano County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $315k; list at $925k implies a 194% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.4% vs local median 3.1% in Vallejo — 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 $8,924/mo this rent would consume 102% of the median local household income ($105k/yr) (locally 2021% 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 101 days. Have you received any prior offers? Is the seller open to a 9% 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?
• Built in 1977 — 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.
• 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?
• 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?