1340 Mt Pisgah Rd · Walnut Creek, CA 94596

$4,200,000

168 bd · None ba · 4,284 sqft · MultiFamily public records · 112 Days on market

Built 1966 0.26 ac lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +7.3/10.0
• Cash flow +5.2/30.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

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

The Cushman & Wakefield Northern California Multifamily Capital Markets Team, is pleased to offer for sale Walnut Terrace, a beautifully renovated, 12-unit turnkey multifamily investment opportunity located in the Heart of Downtown Walnut Creek at 1340 Mt. Pisgah Road. The property features ten 1-Bed, 1.25-Bath units and two 2-Bed, 1.5-Bath Units. Built in 1966, the 8,876 sf 3-story structure is situated on a 11,326 SF lot & includes an on-site laundry facility & 13 parking spaces. All 12 apartment units have been renovated with contemporary finishes & nearly $300,000 has been spent on exterior capital improvements including a new roof (2016) & seismic retrofi

Key facts

• Seismic retrofit
• 65 bike score
• 95 walk score

Tags

• ON-SITE LAUNDRY FACILITY
• 13 PARKING SPACES
• NEW ROOF
• SEISMIC RETROFIT
• 95 WALK SCORE
• 65 BIKE SCORE

What this means for you Summary

Snapshot

• This is a 10×1bd/1.25ba + 2×2bd/1.5ba units multifamily listed at $4.20M.

Deal economics

• At list price, monthly cash flow is $-9k ($-113k/yr) — negative. Per door: $-785/mo.
• To cash-flow at today's rent, offer at most $2.53M (39.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.26M (46.1% below list).
• Recommended offer: $2.26M (46.1% below list) — sets the bar for 1% rule.
• Cap rate 3.6% vs local median 1.1% in Walnut Creek — 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 75/100 on livability (#113 in CA, #4,005 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, commute A+, employment A+; Watch: crime D+, amenities F, cost of living F.
• Acalanes Union High (suburban): math 73% / reading 85% proficiency, ranked #21 of 517 in CA (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising fast (+4.4%/yr); 111 active listings in the ZIP; high-income renter base; 2,169 units permitted in Contra Costa County in 2024 (896 in 5+ unit buildings).
• At $22,636/mo this rent would consume 200% of the median local household income ($136k/yr) (locally 1371% 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 $29k of loan paydown is wiped out by about $126k 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 112 days — a 9% lower offer ($3.82M) is reasonable based on typical stale-listing flexibility.
• 10 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.
• Current owner paid $1.48M; list at $4.20M implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,263,600 (46.1% 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 112 days. Have you received any prior offers? Is the seller open to a 46% 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 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are A-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?
9. Crime grade is D 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.54% ✗
• Cap rate: 3.60%
• Cash-on-cash: -9.62%
• DSCR: 0.57
• GRM: 15.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.39% rent growth · sell at horizon

5-year hold

• IRR: -32.2%
• Equity multiple: -0.06×
• Total profit: $-1,249,509
• Equity at exit: $626,234

10-year hold

• IRR: -31.4%
• Equity multiple: -0.47×
• Total profit: $-1,728,456
• Equity at exit: $363,139

Cash invested: $1,176,000 (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 94596

• Rents YoY: 4.4%
• Active inventory: 111
• Price-to-rent: 191.6×

Monthly cashflow live

• Estimated rent: $22,636 medium
• Mortgage (P&I): −$22,025
• Tax from tax record: −$3,533 /mo · $42,391/yr
• Insurance: −$1,750
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,754
• Net cashflow: $-9,425

Break-even live

Break-even rent $34,567

Max offer price $2,534,961

Occupancy floor —

Sensitivity live

Price	-10% $-7,048	-5% $-8,237	+0% $-9,425	+5% $-10,614	+10% $-11,803
Rent	-10% $-11,214	-5% $-10,320	+0% $-9,425	+5% $-8,531	+10% $-7,637
Rate	-1.0pp $-7,310	-0.5pp $-8,357	base $-9,425	+0.5pp $-10,514	+1.0pp $-11,621

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

Units	Beds	Baths	Est. rent
▸ 10× units	1	1.25	$18,260
▸ 2× units	2	1.5	$4,372
Total (12 units)			$22,636

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: $1,050,000
• Closing costs: $126,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-03-02
   status Pending
2. 2025-11-10
   listed $4,200,000 Active
3. 2025-05-23
   historical $2,195
4. 2025-04-09
   listed $4,250,000 Active
5. 2025-03-19
   price $2,195
6. 2025-03-14
   listed $2,235
7. 2024-08-19
   historical $2,195
8. 2024-07-03
   listed $2,195
9. 2024-07-03
   historical $2,195
10. 2024-07-02
    listed $2,195
11. 2024-07-02
    historical $2,235
12. 2024-05-17
    listed $2,235
13. 2024-04-17
    historical $2,235
14. 2024-04-14
    listed $2,235
15. 2024-04-13
    historical $2,235
16. 2024-04-01
    historical $2,235
17. 2024-04-01
    listed $2,235
18. 2024-03-20
    historical $2,195
19. 2024-03-20
    listed $2,195
20. 2024-03-20
    listed $2,195
21. 2014-10-31
    soldstatus $1,481,000

ⓘ 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: $42,391 · $3,533/mo
• Projected year-2 tax: $42,391 · $3,533/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 6/10 Major
• 🌡 Heat 4/10 Moderate 8 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $271,632
• − Mortgage interest: −$235,265
• − Property taxes: −$42,391
• − Insurance: −$21,000
• − Repairs & maintenance: −$21,731
• − Management: −$21,731
• − Depreciation: −$122,182
• Taxable loss: −$192,667
• Est. tax savings @ 24.0%: +$46,240
• After-tax cash flow: $-66,865/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: Acalanes Union High
• NCES district ID: 0601650
• Math proficiency: 73% ▲ 1.00%
• Reading proficiency: 85% ▼ -4.00%
• Median HH income: $120,138
• Composite: 73.49/100
• National rank: #179
• State rank: #21 of 517 in CA

Livability — Walnut Creek

• Score: 75/100
• State rank: #113
• US rank: #4005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walnut Creek, CA
• County: Contra Costa County · 1,059,880 people
• City population: 90,740
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 23,417
• Household income: $135,635
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 1371.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Asian 15% Two or more races 13% Hispanic / Latino 11% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 4% Scotch-Irish 4% Portuguese 2%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 72% English-only · Spanish 8% Other Indo-European 5% Other Asian/Pacific 4%

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: ▼ -1029.10%
• Current HPI: 351.1193
• Rent YoY: ▲ 4.39%
• 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

+183.6% since first listed

21 events — show timeline

• 2026-03-02 Pending — San Francisco MLS
• 2025-11-10 Listed $4,200,000 San Francisco MLS
• 2025-05-23 Rental Removed $2,195 RENTALBEAST
• 2025-04-09 Listed $4,250,000 San Francisco MLS
• 2025-03-19 Price Changed $2,195 RENTALBEAST
• 2025-03-14 Listed for Rent $2,235 RENTALBEAST
• 2024-08-19 Rental Removed $2,195 RENTALBEAST
• 2024-07-03 Listed for Rent $2,195 RENTALBEAST
• 2024-07-03 Rental Removed $2,195 RENTALBEAST
• 2024-07-02 Listed for Rent $2,195 RENTALBEAST
• 2024-07-02 Rental Removed $2,235 RENTALBEAST
• 2024-05-17 Listed for Rent $2,235 RENTALBEAST
• 2024-04-17 Rental Removed $2,235 RENTALBEAST
• 2024-04-14 Listed for Rent $2,235 RENTALBEAST
• 2024-04-13 Rental Removed $2,235 RENTALBEAST
• 2024-04-01 Rental Removed $2,235 RENTALBEAST
• 2024-04-01 Listed for Rent $2,235 RENTALBEAST
• 2024-03-20 Rental Removed $2,195 RENTALBEAST
• 2024-03-20 Listed for Rent $2,195 RENTALBEAST
• 2024-03-20 Listed for Rent $2,195 RENTALBEAST
• 2014-10-31 Sold (Public Records) $1,481,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $42,391 · +0.4% YoY. Source: county tax records.