1532 Mariposa St · Richmond, CA 94804

$695,000

3 bd · 2.0 ba · 1,630 sqft · MultiFamily public records · 44 Days on market

Built 1925 4,802 sqft lot $426/sqft · 11% below area Est $782k · 11% under

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Why this score? — see what drove the D 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).

• ARV discount +12.5/15.0
• Cash flow +12.3/30.0
• DSCR +3.7/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• 1% rule +2.8/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Classic Spanish Style Duplex in desirable Richmond Annex near the El Cerrito Border. Welcome to 1532 and 1534 Mariposa St, a rare 1920s Spanish style duplex in the heart of Richmond Annex. Old world quality construction and very well maintained for decades by same owners. Freshly painted inside and out, move-in ready, delivered vacant! The end-to-end units have their own entries and garages, on opposite sides of the property. 1532 facing north, 1534 facing south, with huge concrete patio, and private fenced backyard. Tons of natural light. Unit 1534 is a larger 2 bedroom with huge living room w/ gas fireplace, bonus room with full size laundry, kitchen with stainless appliances, hardwood floors, updated dual-pane windows, and recessed lighting and huge partially finished basement/workshop. 1532 is a 1 bedroom 1 bath, very private with entry well off the street, huge private garage with full size washer and dryer, modern barn doors, dual pane windows, large updated eat in kitchen, cozy bedroom with classic original built-ins and walk-in closet, spacious living room, and with its own side yard. Great neighborhood. Close to Hwy 80 and 580 for easy commute. Incredible investment opportunity. First time on the market in decades! Rent both; or, live in one and rent the other.

Key facts

• Stainless appliances
• Gas fireplace
• Huge concrete patio

Tags

• PRIVATE FENCED BACKYARD
• HUGE CONCRETE PATIO
• GAS FIREPLACE
• STAINLESS APPLIANCES
• HARDWOOD FLOORS
• UPDATED DUAL-PANE WINDOWS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $695k.

Deal economics

• At list price, monthly cash flow is $-122 ($-1k/yr) — negative. Per door: $-61/mo.
• To cash-flow at today's rent, offer at most $673k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $542k (21.9% below list).
• Recommended offer: $542k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.7% in Richmond — 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 62/100 on livability (#497 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A, health & safety B+; Watch: schools F, crime F, amenities F.
• West Contra Costa Unified (suburban): math 24% / reading 35% proficiency, ranked #993 of 1,400 in CA (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 137 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,169 units permitted in Contra Costa County in 2024 (896 in 5+ unit buildings).
• At $5,425/mo this rent would consume 72% of the median local household income ($91k/yr) (locally 2065% 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.
• Contra Costa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($674k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $24k; list at $695k implies a 2857% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $542,500 (21.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.78% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.75%
• DSCR: 0.97
• GRM: 10.7

CMA / ARV

• ARV (median comp): $781,602
• List price: $695,000
• Delta: -11.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5227 - 5229 Dalia Lama Ave	0.47mi	4/0.5 (+1)	1,654 (+2%)	13mo	$710,000	$429	54
1041 Ranchito Ct	0.53mi	3/2.0	1,488 (-9%)	20mo	$880,000	$591	44

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 · 0.84% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.32×
• Total profit: $-132,103
• Equity at exit: $103,627

10-year hold

• IRR: -17.6%
• Equity multiple: 0.12×
• Total profit: $-171,058
• Equity at exit: $60,091

Cash invested: $194,600 (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 94804

• Rents YoY: 0.8%
• Active inventory: 137
• Price-to-rent: 21.4×

Monthly cashflow live

• Estimated rent: $5,425 high
• Mortgage (P&I): −$3,645
• Tax from tax record: −$474 /mo · $5,684/yr
• Insurance: −$290
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,139
• Net cashflow: $-122

Break-even live

Break-even rent $5,580

Max offer price $673,421

Occupancy floor 97%

Sensitivity live

Price	-10% $271	-5% $75	+0% $-122	+5% $-319	+10% $-516
Rent	-10% $-551	-5% $-336	+0% $-122	+5% $92	+10% $306
Rate	-1.0pp $228	-0.5pp $55	base $-122	+0.5pp $-302	+1.0pp $-485

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$5,426
Total (2 units)			$5,425

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: $173,750
• Closing costs: $20,850
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5819 Bayview Ave Unit Inlaw Richmond, CA	2.0	1.0	1220	$2,500	$2.05	25d	1	0.31mi
6250 Cypress Ave El Cerrito, CA	3.0	2.0	1437	$3,500	$2.44	25d	1	0.51mi
6615 Schmidt Ln El Cerrito, CA	1.0–3.0	1.0–2.0	1000	$3,495	$3.50	0d	3	0.56mi
1215 Elm St El Cerrito, CA	3.0	1.0	1095	$3,495	$3.19	45d	1	0.57mi
5120 Sacramento Ave Richmond, CA	2.0	2.0	1100	$2,650	$2.41	45d	3	0.62mi
854 Lexington Ave El Cerrito, CA	3.0	2.0	1167	$3,850	$3.30	19d	1	0.64mi
5122 Potrero Ave Richmond, CA	4.0	1.5	1425	$4,100	$2.88	45d	1	0.65mi
10300 San Pablo Ave #202 El Cerrito, CA	3.0	2.0	1119	$3,995	$3.57	45d	1	0.76mi
5550 Central Ave Unit 19 El Cerrito, CA	3.0	1.0	1129	$2,695	$2.39	45d	1	0.88mi
1702 Walnut St El Cerrito, CA	4.0	3.0	2200	$5,295	$2.41	25d	1	0.93mi
7323 Waldo Ln Unit 1545793P El Cerrito, CA	3.0	2.0	2034	$5,652	$2.78	13d	1	0.94mi
535 Pierce St #1214 Albany, CA	2.0	2.0	1170	$3,200	$2.74	12d	1	1.15mi
535 Pierce St #5108 Albany, CA	2.0	2.0	1170	$2,900	$2.48	45d	1	1.15mi
611 Clayton Ave El Cerrito, CA	3.0	2.0	1601	$5,600	$3.50	0d	1	1.16mi
104 Windjammer Ct Richmond, CA	3.0	2.5	1575	$4,500	$2.86	6d	1	1.20mi
545 Pierce St Albany, CA	2.0	2.0	1239	$3,150	$2.54	5d	2	1.22mi
545 Pierce St #1206 Albany, CA	2.0	2.0	1245	$3,200	$2.57	4d	1	1.28mi
430 S 38th St Richmond, CA	3.0	2.0	1228	$3,774	$3.07	45d	1	1.30mi
555 Pierce St #843 Albany, CA	2.0	2.0	1113	$3,200	$2.88	6d	1	1.31mi
555 Pierce St Albany, CA	2.0	2.0	1113	$3,200	$2.88	5d	1	1.31mi
365 S 38th St Richmond, CA	4.0	2.0	1307	$3,350	$2.56	12d	1	1.37mi
365 S 38th St Richmond, CA	4.0	2.0	1307	$3,600	$2.75	21d	1	1.37mi
3943 Florida Ave Richmond, CA	3.0	2.0	1145	$2,850	$2.49	25d	1	1.46mi
2941 Chavez Ln Richmond, CA	3.0	2.0	1388	$3,849	$2.77	23d	1	1.50mi

Listing history 9 events

1. 2026-06-13
   status $695,000 Pending 44 DOM
2. 2026-06-09
   days on market $695,000 Active 44 DOM
3. 2026-06-08
   days on market $695,000 Active 43 DOM
4. 2026-06-07
   pricestatusdays on market $695,000 Active 42 DOM
5. 2026-05-01
   status Active 1291-char remark

   Show marketing remark (1291 chars)

   Classic Spanish Style Duplex in desirable Richmond Annex near the El Cerrito Border. Welcome to 1532 and 1534 Mariposa St, a rare 1920s Spanish style duplex in the heart of Richmond Annex. Old world quality construction and very well maintained for decades by same owners. Freshly painted inside and out, move-in ready, delivered vacant! The end-to-end units have their own entries and garages, on opposite sides of the property. 1532 facing north, 1534 facing south, with huge concrete patio, and private fenced backyard. Tons of natural light. Unit 1534 is a larger 2 bedroom with huge living room w/ gas fireplace, bonus room with full size laundry, kitchen with stainless appliances, hardwood floors, updated dual-pane windows, and recessed lighting and huge partially finished basement/workshop. 1532 is a 1 bedroom 1 bath, very private with entry well off the street, huge private garage with full size washer and dryer, modern barn doors, dual pane windows, large updated eat in kitchen, cozy bedroom with classic original built-ins and walk-in closet, spacious living room, and with its own side yard. Great neighborhood. Close to Hwy 80 and 580 for easy commute. Incredible investment opportunity. First time on the market in decades! Rent both; or, live in one and rent the other.

6. 2026-05-01
   price $779,000 1291-char remark

   Show marketing remark (1291 chars)

   Classic Spanish Style Duplex in desirable Richmond Annex near the El Cerrito Border. Welcome to 1532 and 1534 Mariposa St, a rare 1920s Spanish style duplex in the heart of Richmond Annex. Old world quality construction and very well maintained for decades by same owners. Freshly painted inside and out, move-in ready, delivered vacant! The end-to-end units have their own entries and garages, on opposite sides of the property. 1532 facing north, 1534 facing south, with huge concrete patio, and private fenced backyard. Tons of natural light. Unit 1534 is a larger 2 bedroom with huge living room w/ gas fireplace, bonus room with full size laundry, kitchen with stainless appliances, hardwood floors, updated dual-pane windows, and recessed lighting and huge partially finished basement/workshop. 1532 is a 1 bedroom 1 bath, very private with entry well off the street, huge private garage with full size washer and dryer, modern barn doors, dual pane windows, large updated eat in kitchen, cozy bedroom with classic original built-ins and walk-in closet, spacious living room, and with its own side yard. Great neighborhood. Close to Hwy 80 and 580 for easy commute. Incredible investment opportunity. First time on the market in decades! Rent both; or, live in one and rent the other.

7. 2026-04-10
   status Pending 1291-char remark

   Show marketing remark (1291 chars)

   Classic Spanish Style Duplex in desirable Richmond Annex near the El Cerrito Border. Welcome to 1532 and 1534 Mariposa St, a rare 1920s Spanish style duplex in the heart of Richmond Annex. Old world quality construction and very well maintained for decades by same owners. Freshly painted inside and out, move-in ready, delivered vacant! The end-to-end units have their own entries and garages, on opposite sides of the property. 1532 facing north, 1534 facing south, with huge concrete patio, and private fenced backyard. Tons of natural light. Unit 1534 is a larger 2 bedroom with huge living room w/ gas fireplace, bonus room with full size laundry, kitchen with stainless appliances, hardwood floors, updated dual-pane windows, and recessed lighting and huge partially finished basement/workshop. 1532 is a 1 bedroom 1 bath, very private with entry well off the street, huge private garage with full size washer and dryer, modern barn doors, dual pane windows, large updated eat in kitchen, cozy bedroom with classic original built-ins and walk-in closet, spacious living room, and with its own side yard. Great neighborhood. Close to Hwy 80 and 580 for easy commute. Incredible investment opportunity. First time on the market in decades! Rent both; or, live in one and rent the other.

8. 2026-03-26
   listed $659,000 Active 1291-char remark

   Show marketing remark (1291 chars)

   Classic Spanish Style Duplex in desirable Richmond Annex near the El Cerrito Border. Welcome to 1532 and 1534 Mariposa St, a rare 1920s Spanish style duplex in the heart of Richmond Annex. Old world quality construction and very well maintained for decades by same owners. Freshly painted inside and out, move-in ready, delivered vacant! The end-to-end units have their own entries and garages, on opposite sides of the property. 1532 facing north, 1534 facing south, with huge concrete patio, and private fenced backyard. Tons of natural light. Unit 1534 is a larger 2 bedroom with huge living room w/ gas fireplace, bonus room with full size laundry, kitchen with stainless appliances, hardwood floors, updated dual-pane windows, and recessed lighting and huge partially finished basement/workshop. 1532 is a 1 bedroom 1 bath, very private with entry well off the street, huge private garage with full size washer and dryer, modern barn doors, dual pane windows, large updated eat in kitchen, cozy bedroom with classic original built-ins and walk-in closet, spacious living room, and with its own side yard. Great neighborhood. Close to Hwy 80 and 580 for easy commute. Incredible investment opportunity. First time on the market in decades! Rent both; or, live in one and rent the other.

9. 1972-07-11
   soldstatus $23,500

ⓘ 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: $5,684 · $474/mo
• Projected year-2 tax: $5,684 · $474/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥83°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,100
• − Mortgage interest: −$38,931
• − Property taxes: −$5,684
• − Insurance: −$3,475
• − Repairs & maintenance: −$5,208
• − Management: −$5,208
• − Depreciation: −$20,218
• Taxable loss: −$13,624
• Est. tax savings @ 24.0%: +$3,270
• After-tax cash flow: $1,804/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: West Contra Costa Unified
• NCES district ID: 0632550
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $64,837
• Composite: 30.04/100
• National rank: #11623
• State rank: #993 of 1400 in CA

Livability — Richmond

• Score: 62/100
• State rank: #497
• US rank: #16759

Category grades

Amenities F Commute A+ Cost of living F Crime F Employment A Housing B Health & safety B+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, CA
• County: Contra Costa County · 1,059,880 people
• City population: 183,357
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 44,891
• Household income: $91,037
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 2065.0

Population outlook (Contra Costa County) Hauer SSP2

• Today (2025): 1,287,720 people
• By 2030: 1,364,937 · +6.0%
• By 2040: 1,506,209 · +17.0%
• By 2050: 1,624,373 · +26.1%
• By 2075: 1,853,193 · +43.9%
• By 2100: 1,901,231 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 47% Black 19% White 17% Two or more races 14% Asian 11% Native American 2%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 34% · Canada, China, Vietnam
• Languages at home: 46% English-only · Spanish 41% Other Indo-European 4% Chinese 3%

Political lean MEDSL · Contra Costa

• 2024 margin: Solid D (+38.0) · D 67.3% · R 29.4% · Other 3.3%
• 2008→2024 swing: +0.2pp no change · 2008: 37.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+45.3 2016: D+43.5 2012: D+33.7 2008: D+37.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -686.16%
• Current HPI: 283.8859
• Rent YoY: ▲ 0.84%
• 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

+3214.9% since first listed

5 events — show timeline

• 2026-05-01 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-01 Price Changed $779,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-10 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-03-26 Listed $659,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1972-07-11 Sold (Public Records) $23,500 Public Records

Property tax history

+8.1%/yr

Latest (2025): $5,684 · +0.8% YoY. Source: county tax records.