622 22nd St · Oakland, CA 94612

$479,900

3 bd · 3.0 ba · 2,014 sqft · MultiFamily public records

Built 1878 4,212 sqft lot Est $753k · 36% under ↓ 17% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Rent growth +4.3/5.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This is an Auction.This Colonial home features timeless architecture and a spacious lot with tremendous potential. The traditional floor plan offers flexibility and represents an intriguing opportunity. This four-bedroom, two-and-a-half-bathroom home presents a compelling investment opportunity for those seeking to create value through renovation. The property offers solid structural foundations and generous proportions, providing an excellent canvas for transformation. The home's traditional architecture and established neighborhood location position it well for future appreciation. With thoughtful updates and improvements, this property has the potential to become a standout residence. The configuration of bedrooms and bathrooms makes it particularly appealing for families, while the overall size provides flexibility for various renovation approaches. Investors and homebuyers with vision will appreciate the opportunity to customize this home to current standards and personal preferences. The combination of location, size, and renovation potential creates an attractive proposition for those ready to undertake a rewarding project. Don't miss this opportunity to experience classic colonial charm in a desirable neighborhood - schedule your viewing today!

Key facts

• 4,212 sq ft lot
• Built 1878

Property features AI

Finance

• HOA & community: No homeowners association; Not a senior community

Exterior

• Parking: Attached garage; 1 total parking space; 1 garage space
• Utilities: Public sewer
• Home design: Single-family residence; Residential property
• Construction: Entry level: Garage
• Exterior features: No horses allowed; No private pool or spa

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Other heating; Other cooling
• Interior features: Two-story home; No basement
• Laundry & utility: Washer/dryer hookups only

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $480k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $480k).
• Cap rate 10.8% 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 rising fast (+7.2%/yr); 37 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $6,217/mo this rent would consume 101% of the median local household income ($74k/yr) (locally 2526% 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 $3k of loan paydown is wiped out by about $14k 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.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $134k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1878 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $479,900

Questions for the listing agent

1. Built in 1878 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.30% ✓
• Cap rate: 10.85%
• Cash-on-cash: 16.26%
• DSCR: 1.72
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $753,236
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2025-2027 Curtis	0.33mi	4/2.0 (+1)	1,893 (-6%)	1mo	$650,000	$343	65
2834 Summit St	0.56mi	4/3.0 (+1)	2,070 (+3%)	3mo	$815,000	$394	62
865 27th St	0.46mi	4/2.0 (+1)	1,920 (-5%)	13mo	$719,000	$374	51
601 32nd St	0.67mi	4/2.0 (+1)	1,784 (-11%)	9mo	$585,000	$328	33

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 · 7.23% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.49×
• Total profit: $65,767
• Equity at exit: $71,555

10-year hold

• IRR: 23.8%
• Equity multiple: 3.46×
• Total profit: $329,974
• Equity at exit: $41,493

Cash invested: $134,372 (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 94612

• Home prices YoY: -2.5%
• Rents YoY: 7.2%
• Active inventory: 37
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $6,217 high
• Mortgage (P&I): −$2,517
• Tax from tax record: −$374 /mo · $4,484/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,306
• Net cashflow: $1,821

Break-even live

Break-even rent $3,912

Max offer price $479,900

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,216
Total (2 units)			$6,217

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: $119,975
• Closing costs: $14,397
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 William St Oakland, CA	3.0	1.0–2.0	1108	$4,654	$4.20	2d	16	0.19mi
2016 Telegraph Ave Oakland, CA	3.0	1.0–3.0	1026	$6,748	$6.58	1d	8	0.21mi
471 26th St Oakland, CA	1.0–3.0	1.0–3.0	967	$3,963	$4.10	1d	8	0.32mi
1389 Jefferson St Oakland, CA	3.0	1.0–3.0	1166	$4,370	$3.75	2d	14	0.50mi
2933 McClure St Oakland, CA	3.0	2.0	1440	$4,850	$3.37	2d	1	0.55mi
3010 Martin Luther King Junior Way Oakland, CA	3.0	1.0	1700	$2,990	$1.76	43d	1	0.55mi
814 30th St Emeryville, CA	4.0	2.0	2015	$7,000	$3.47	3d	1	0.59mi
1015 Martin Luther King Junior Way Unit B2 Oakland, CA	4.0	2.0	1800	$1,000	$0.56	43d	1	0.64mi
1015 Martin Luther King Junior Way Oakland, CA	4.0	2.0	1800	$1,300	$0.72	43d	1	0.64mi
896 31st St Oakland, CA	3.0	2.0	1400	$2,250	$1.61	43d	1	0.70mi
1100 Webster St Oakland, CA	3.0	1.0–2.0	958	$5,014	$5.23	1d	7	0.73mi
2712 Adeline St Unit B Oakland, CA	4.0	3.0	1500	$3,800	$2.53	15d	1	0.74mi
3093 Broadway Oakland, CA	3.0	1.0–2.0	972	$4,210	$4.33	1d	24	0.81mi
1202 Adeline St Oakland, CA	4.0	3.0	1800	$3,795	$2.11	20d	1	0.83mi
1123 30th St Unit 1 Oakland, CA	3.0	2.5	2083	$4,895	$2.35	43d	1	0.84mi
1123 30th St Emeryville, CA	3.0	2.0	2083	$4,895	$2.35	43d	1	0.84mi
1255 26th St #106 Oakland, CA	2.0	2.0	1750	$2,795	$1.60	5d	1	0.88mi
835 35th St Unit 1 Oakland, CA	3.0	2.0	1400	$2,950	$2.11	43d	1	0.89mi
3123 Harrison St Oakland, CA	3.0	2.0	1450	$3,800	$2.62	5d	1	0.92mi
1216 10th St Oakland, CA	3.0	2.0	1750	$3,399	$1.94	43d	1	0.97mi
3240 Peralta St #10 Emeryville, CA	2.0	2.0	1766	$3,950	$2.24	24d	1	1.06mi
520 Van Buren Ave Oakland, CA	1.0–3.0	1.0–2.0	974	$3,795	$3.89	43d	9	1.17mi
3415 Haven St Emeryville, CA	3.0	2.5	1900	$4,200	$2.21	11d	1	1.18mi
1200 Lakeshore Ave Oakland, CA	1.0–3.0	1.5–2.5	1332	$10,245	$7.69	1d	14	1.19mi
482 Jean St Oakland, CA	3.0	2.0	1595	$4,800	$3.01	24d	1	1.24mi
311 Oak St Oakland, CA	1.0–2.0	1.0–2.0	1228	$4,000	$3.26	12d	2	1.26mi
311 Oak St Oakland, CA	1.0–2.0	1.5–2.0	1379	$4,000	$2.90	43d	2	1.26mi
311 Oak St #516 Oakland, CA	2.0	2.0	1598	$4,000	$2.50	24d	1	1.27mi
527 Merritt Ave Oakland, CA	3.0	2.0	1530	$4,800	$3.14	1d	1	1.37mi
324 International Blvd Unit 324 Oakland, CA	3.0	1.5	1400	$3,500	$2.50	24d	1	1.39mi
1733 14th St Unit 1733 Oakland, CA	3.0	2.0	1650	$3,015	$1.83	2d	1	1.39mi
564 44th St Unit 1 Oakland, CA	4.0	2.0	1400	$3,250	$2.32	43d	1	1.48mi

Listing history 9 events

1. 2026-06-07
   days on marketlisting id $479,900 Pending
2. 2026-04-30
   historical 1272-char remark

   Show marketing remark (1272 chars)

   This is an Auction.This Colonial home features timeless architecture and a spacious lot with tremendous potential. The traditional floor plan offers flexibility and represents an intriguing opportunity. This four-bedroom, two-and-a-half-bathroom home presents a compelling investment opportunity for those seeking to create value through renovation. The property offers solid structural foundations and generous proportions, providing an excellent canvas for transformation. The home's traditional architecture and established neighborhood location position it well for future appreciation. With thoughtful updates and improvements, this property has the potential to become a standout residence. The configuration of bedrooms and bathrooms makes it particularly appealing for families, while the overall size provides flexibility for various renovation approaches. Investors and homebuyers with vision will appreciate the opportunity to customize this home to current standards and personal preferences. The combination of location, size, and renovation potential creates an attractive proposition for those ready to undertake a rewarding project. Don't miss this opportunity to experience classic colonial charm in a desirable neighborhood - schedule your viewing today!

3. 2026-04-28
   status Pending

   Show marketing remark (1272 chars)

   This is an Auction.This Colonial home features timeless architecture and a spacious lot with tremendous potential. The traditional floor plan offers flexibility and represents an intriguing opportunity. This four-bedroom, two-and-a-half-bathroom home presents a compelling investment opportunity for those seeking to create value through renovation. The property offers solid structural foundations and generous proportions, providing an excellent canvas for transformation. The home's traditional architecture and established neighborhood location position it well for future appreciation. With thoughtful updates and improvements, this property has the potential to become a standout residence. The configuration of bedrooms and bathrooms makes it particularly appealing for families, while the overall size provides flexibility for various renovation approaches. Investors and homebuyers with vision will appreciate the opportunity to customize this home to current standards and personal preferences. The combination of location, size, and renovation potential creates an attractive proposition for those ready to undertake a rewarding project. Don't miss this opportunity to experience classic colonial charm in a desirable neighborhood - schedule your viewing today!

4. 2026-04-28
   listed $479,900 1272-char remark

   Show marketing remark (1272 chars)

   This is an Auction.This Colonial home features timeless architecture and a spacious lot with tremendous potential. The traditional floor plan offers flexibility and represents an intriguing opportunity. This four-bedroom, two-and-a-half-bathroom home presents a compelling investment opportunity for those seeking to create value through renovation. The property offers solid structural foundations and generous proportions, providing an excellent canvas for transformation. The home's traditional architecture and established neighborhood location position it well for future appreciation. With thoughtful updates and improvements, this property has the potential to become a standout residence. The configuration of bedrooms and bathrooms makes it particularly appealing for families, while the overall size provides flexibility for various renovation approaches. Investors and homebuyers with vision will appreciate the opportunity to customize this home to current standards and personal preferences. The combination of location, size, and renovation potential creates an attractive proposition for those ready to undertake a rewarding project. Don't miss this opportunity to experience classic colonial charm in a desirable neighborhood - schedule your viewing today!

5. 2026-04-26
   status Active
6. 2026-04-14
   price $479,900
7. 2026-03-25
   price $519,900
8. 2026-03-03
   price $551,000
9. 2026-02-11
   listed $580,000 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: $4,484 · $374/mo
• Projected year-2 tax: $4,484 · $374/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 3/10 Moderate 7 d/yr ≥82°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: $74,604
• − Mortgage interest: −$26,882
• − Property taxes: −$4,484
• − Insurance: −$2,400
• − Repairs & maintenance: −$5,968
• − Management: −$5,968
• − Depreciation: −$13,961
• Taxable income: $14,941
• Est. tax owed @ 24.0%: −$3,586
• After-tax cash flow: $18,268/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): 18,175
• Household income: $74,037
• Rent vs Own: 91.4% rent · 8.6% own
• Severe rent burden: 2526.0

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 0.76)
• Race & ethnicity: White 30% Asian 27% Black 26% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 32% · China, Canada, South Korea
• Languages at home: 65% English-only · Chinese 14% Spanish 5% Other Indo-European 3%

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: ▼ -5.34%
• Current HPI: 212.2879
• Rent YoY: ▲ 7.23%
• 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

-17.3% since first listed

8 events — show timeline

• 2026-04-30 Delisted — BAREIS
• 2026-04-28 Pending — BAREIS
• 2026-04-28 Listed $479,900 BAREIS
• 2026-04-26 Relisted — BAREIS
• 2026-04-14 Price Changed $479,900 BAREIS
• 2026-03-25 Price Changed $519,900 BAREIS
• 2026-03-03 Price Changed $551,000 BAREIS
• 2026-02-11 Listed $580,000 BAREIS

Property tax history

+6.1%/yr

Latest (2025): $4,484 · +14.5% YoY. Source: county tax records.