2805 106th Ave · Oakland, CA 94605

$699,000

8 bd · 5.0 ba · 3,406 sqft · MultiFamily public records · 199 Days on market

Built 1961 6,294 sqft lot $205/sqft · 21% below area Est $880k · 21% under ↓ 30% since listing

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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 +25.0/30.0
• ARV discount +15.0/15.0
• 1% rule +8.5/10.0
• DSCR +8.1/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Price reduced what a great buy with value add - Great investment opportunity — 4-unit property with strong income potential! Property includes one 3-bed -1 bath, 2-2 bed - 1-bath units, one 1-bed - 1-bath unit. Some work needed TLC— value add - ideal for investors or owner-users looking to renovate, add value, and boost rental income. Write offers subject to inspection. Fix it up and hold for rental income, live in one unit and rent the others, or flip for profit once improvements are complete.

Key facts

• 6,294 sq ft lot
• Garage
• Built 1961

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 2×2bd/1ba + 1×1bd/1ba units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $379/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $699k).
• Recommended offer: $615k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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.

Location & tenants

• 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.
• Market conditions: Rents flat; 186 active listings in the ZIP; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $9,441/mo this rent would consume 107% of the median local household income ($106k/yr) (locally 2086% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($615k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y ago; this cycle's ask has dropped $70k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.

Recommended offer $615,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.35% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.31%
• DSCR: 1.41
• GRM: 6.2

CMA / ARV

• ARV (median comp): $880,108
• List price: $699,000
• Delta: -20.58%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2509 109th Ave	0.25mi	8/4.0	3,432 (+1%)	23mo	$910,000	$265	64

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 · 0.65% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.81×
• Total profit: $-37,589
• Equity at exit: $104,223

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $9,706
• Equity at exit: $60,437

Cash invested: $195,720 (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 Oakland: 0 Strongly Tenant-Friendly · D+62

Rent Adjustment Program + Just Cause.

Methodology + full state rankings →

ZIP-level market 94605

• Rents YoY: 0.7%
• Active inventory: 186
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $9,441 high
• Mortgage (P&I): −$3,666
• Tax from tax record: −$1,984 /mo · $23,805/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,983
• Net cashflow: $1,518

Break-even live

Break-even rent $7,520

Max offer price $699,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,687
▸ 2× units	2	1	$4,646
1× unit	1	1	$2,108
Total (4 units)			$9,441

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-01
   days on market $699,000 Active 199 DOM
2. 2026-05-31
   days on market $699,000 Active 198 DOM
3. 2026-01-31
   price $699,000 512-char remark

   Show marketing remark (512 chars)

   Price reduced what a great buy with value add - Great investment opportunity — 4-unit property with strong income potential! Property includes one 3-bed -1 bath, 2-2 bed - 1-bath units, one 1-bed - 1-bath unit. Some work needed TLC— value add - ideal for investors or owner-users looking to renovate, add value, and boost rental income. Write offers subject to inspection. Fix it up and hold for rental income, live in one unit and rent the others, or flip for profit once improvements are complete.

4. 2025-11-14
   listed $769,000 Active 512-char remark

   Show marketing remark (512 chars)

   Price reduced what a great buy with value add - Great investment opportunity — 4-unit property with strong income potential! Property includes one 3-bed -1 bath, 2-2 bed - 1-bath units, one 1-bed - 1-bath unit. Some work needed TLC— value add - ideal for investors or owner-users looking to renovate, add value, and boost rental income. Write offers subject to inspection. Fix it up and hold for rental income, live in one unit and rent the others, or flip for profit once improvements are complete.

5. 2025-10-02
   historical
6. 2025-08-27
   price
7. 2025-08-27
   price
8. 2025-07-30
   listed Active
9. 2025-07-30
   historical
10. 2025-05-27
    listed Active
11. 2025-05-23
    historical
12. 2025-04-15
    price
13. 2025-02-23
    price
14. 2025-02-22
    price
15. 2025-02-17
    price
16. 2025-02-12
    listed Active
17. 2024-02-02
    historical
18. 2023-11-29
    listed Active
19. 2021-11-05
    historical
20. 2021-11-03
    historical Contingent - Show
21. 2021-11-02
    historical
22. 2021-10-05
    historical Contingent - Show
23. 2021-10-05
    historical
24. 2021-09-09
    historical Contingent - Show
25. 2021-09-02
    historical
26. 2021-07-06
    status Active
27. 2021-07-06
    historical
28. 2021-06-04
    listed $998,000 Active

ⓘ 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: $23,805 · $1,984/mo
• Projected year-2 tax: $23,805 · $1,984/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $113,292
• − Mortgage interest: −$39,155
• − Property taxes: −$23,805
• − Insurance: −$3,495
• − Repairs & maintenance: −$9,063
• − Management: −$9,063
• − Depreciation: −$20,335
• Taxable income: $8,376
• Est. tax owed @ 24.0%: −$2,010
• After-tax cash flow: $16,203/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: Oakland Unified
• NCES district ID: 0628050
• Math proficiency: 27% ▬ 0.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $55,194
• Composite: 29.52/100
• National rank: #11769
• State rank: #1007 of 1400 in CA

Livability — Oakland

• Score: 71/100
• State rank: #224
• US rank: #7245

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: Oakland, CA
• County: Alameda County · 1,614,355 people
• City population: 385,993
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 44,103
• Household income: $106,068
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 2086.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 40% Hispanic / Latino 27% White 17% Two or more races 11% Asian 9%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Italian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 20% · Canada, China, Vietnam
• Languages at home: 70% English-only · Spanish 21% Chinese 2% Other Asian/Pacific 2%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -793.09%
• Current HPI: 294.5467
• Rent YoY: ▲ 0.65%
• 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

-30.0% since first listed

26 events — show timeline

• 2026-01-31 Price Changed $699,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-11-14 Listed $769,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-10-02 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-08-27 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-08-27 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-07-30 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-07-30 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-05-27 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-05-23 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-04-15 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-02-23 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-02-22 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-02-17 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-02-12 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-02-02 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2023-11-29 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-11-05 Delisted — San Francisco MLS
• 2021-11-03 Contingent — San Francisco MLS
• 2021-11-02 Delisted — San Francisco MLS
• 2021-10-05 Contingent — San Francisco MLS
• 2021-10-05 Delisted — San Francisco MLS
• 2021-09-09 Contingent — San Francisco MLS
• 2021-09-02 Delisted — San Francisco MLS
• 2021-07-06 Relisted — San Francisco MLS
• 2021-07-06 Delisted — San Francisco MLS
• 2021-06-04 Listed $998,000 San Francisco MLS

Property tax history

+10.3%/yr

Latest (2025): $23,805 · +110.2% YoY. Source: county tax records.