3208 2nd Ave · Sacramento, CA 95817

$875,000

6 bd · 7.0 ba · 3,008 sqft · MultiFamily public records · 284 Days on market

Built 1992 6,098 sqft lot $291/sqft · at area comps Est $894k · at est.

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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).

• Cash flow +12.2/30.0
• ARV discount +8.5/15.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• 1% rule +3.2/10.0
• Rent growth +2.8/5.0
• 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

Don't miss this rare opportunity to own a fourplex property in the heart of North Oak Park, Sacramento. Built in 1992, this gated multi family building offers a solid mix of units and features that make it attractive to both investors and tenants alike. The property includes three spacious 2 bedroom, 2 bathroom units and one efficient studio unit, each with the convenience of in unit laundry and AC. Tenants enjoy the security and privacy of gated off street parking, a highly desirable amenity in the area. This low maintenance fourplex offers strong rental potential in a rapidly developing neighborhood. Located close to UC Davis Medical Center, Midtown, and major freeways, this is the ideal location for renters seeking urban living with a neighborhood feel.

Key facts

• Close to midtown
• In unit laundry
• 6,098 sq ft lot

Tags

• GATED MULTI FAMILY BUILDING
• IN UNIT LAUNDRY
• GATED OFF STREET PARKING
• STRONG RENTAL POTENTIAL
• CLOSE TO MIDTOWN
• CLOSE TO MAJOR FREEWAYS

What this means for you Summary

Snapshot

• This is a 3×2bd/2ba + 1×1bd/1ba units multifamily listed at $875k.

Deal economics

• At list price, monthly cash flow is $-171 ($-2k/yr) — negative. Per door: $-43/mo.
• To cash-flow at today's rent, offer at most $845k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $721k (17.6% below list).
• Recommended offer: $721k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.0% in Sacramento — 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 (#218 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A; Watch: schools D+, crime F, cost of living F.
• Sacramento City Unified (urban): math 32% / reading 43% proficiency, ranked #804 of 1,400 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.3%/yr); 70 active listings in the ZIP; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• At $7,207/mo this rent would consume 135% of the median local household income ($64k/yr) (locally 1529% 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 $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Sacramento County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 284 days — a 12% lower offer ($770k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $720,700 (17.6% 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 284 days. Have you received any prior offers? Is the seller open to a 18% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 0.82% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.84%
• DSCR: 0.96
• GRM: 10.1

CMA / ARV

• ARV (median comp): $893,915
• List price: $875,000
• Delta: -2.12%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3224 - 3230 9th Ave	0.67mi	5/3.0 (-1)	2,576 (-14%)	22mo	$639,000	$248	6

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 · 1.27% rent growth · sell at horizon

5-year hold

• IRR: -19.6%
• Equity multiple: 0.33×
• Total profit: $-165,000
• Equity at exit: $130,465

10-year hold

• IRR: -16.3%
• Equity multiple: 0.16×
• Total profit: $-206,576
• Equity at exit: $75,654

Cash invested: $245,000 (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 95817

• Rents YoY: 1.3%
• Active inventory: 70
• Price-to-rent: 39.8×

Monthly cashflow live

• Estimated rent: $7,207 high
• Mortgage (P&I): −$4,589
• Tax from tax record: −$911 /mo · $10,933/yr
• Insurance: −$365
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,513
• Net cashflow: $-171

Break-even live

Break-even rent $7,423

Max offer price $844,834

Occupancy floor 97%

Sensitivity live

Price	-10% $325	-5% $77	+0% $-171	+5% $-418	+10% $-666
Rent	-10% $-740	-5% $-455	+0% $-171	+5% $114	+10% $399
Rate	-1.0pp $270	-0.5pp $52	base $-171	+0.5pp $-398	+1.0pp $-628

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	2	$5,502
1× unit	1	1	$1,706
Total (4 units)			$7,207

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: $218,750
• Closing costs: $26,250
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $875,000 Active 284 DOM
2. 2026-06-18
   days on market $875,000 Active 281 DOM
3. 2026-06-17
   days on market $875,000 Active 280 DOM
4. 2026-06-16
   days on market $875,000 Active 279 DOM
5. 2026-06-15
   days on market $875,000 Active 278 DOM
6. 2026-06-13
   days on market $875,000 Active 276 DOM
7. 2026-06-13
   days on market $875,000 Active 275 DOM
8. 2026-06-09
   days on market $875,000 Active 272 DOM
9. 2026-06-08
   days on market $875,000 Active 271 DOM
10. 2026-06-07
    days on market $875,000 Active 270 DOM
11. 2026-06-05
    days on market $875,000 Active 267 DOM
12. 2026-06-03
    days on market $875,000 Active 266 DOM
13. 2026-06-02
    days on market $875,000 Active 265 DOM
14. 2026-06-01
    days on market $875,000 Active 264 DOM
15. 2026-05-31
    days on market $875,000 Active 263 DOM
16. 2025-12-23
    price $875,000 766-char remark

    Show marketing remark (766 chars)

    Don't miss this rare opportunity to own a fourplex property in the heart of North Oak Park, Sacramento. Built in 1992, this gated multi family building offers a solid mix of units and features that make it attractive to both investors and tenants alike. The property includes three spacious 2 bedroom, 2 bathroom units and one efficient studio unit, each with the convenience of in unit laundry and AC. Tenants enjoy the security and privacy of gated off street parking, a highly desirable amenity in the area. This low maintenance fourplex offers strong rental potential in a rapidly developing neighborhood. Located close to UC Davis Medical Center, Midtown, and major freeways, this is the ideal location for renters seeking urban living with a neighborhood feel.

17. 2025-09-10
    listed $925,000 Active 766-char remark

    Show marketing remark (766 chars)

    Don't miss this rare opportunity to own a fourplex property in the heart of North Oak Park, Sacramento. Built in 1992, this gated multi family building offers a solid mix of units and features that make it attractive to both investors and tenants alike. The property includes three spacious 2 bedroom, 2 bathroom units and one efficient studio unit, each with the convenience of in unit laundry and AC. Tenants enjoy the security and privacy of gated off street parking, a highly desirable amenity in the area. This low maintenance fourplex offers strong rental potential in a rapidly developing neighborhood. Located close to UC Davis Medical Center, Midtown, and major freeways, this is the ideal location for renters seeking urban living with a neighborhood feel.

18. 2024-07-10
    soldstatus $900,000
19. 2005-10-13
    soldstatus $540,000
20. 2000-03-28
    soldstatus $145,000
21. 1996-01-05
    soldstatus $81,000
22. 1995-06-05
    soldstatus $143,437
23. 1990-02-23
    soldstatus $25,000

ⓘ 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: $10,933 · $911/mo
• Projected year-2 tax: $10,933 · $911/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 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 27 unhealthy d/yr today · 33 by 30 yrs out

Taxation est. · year 1

• Rental income: $86,484
• − Mortgage interest: −$49,014
• − Property taxes: −$10,933
• − Insurance: −$4,375
• − Repairs & maintenance: −$6,919
• − Management: −$6,919
• − Depreciation: −$25,455
• Taxable loss: −$17,130
• Est. tax savings @ 24.0%: +$4,111
• After-tax cash flow: $2,062/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: Sacramento City Unified
• NCES district ID: 0633840
• Math proficiency: 32% ▬ 0.00%
• Reading proficiency: 43% ▲ 3.00%
• Median HH income: $49,280
• Composite: 34.86/100
• National rank: #10000
• State rank: #804 of 1400 in CA

Livability — Sacramento

• Score: 71/100
• State rank: #218
• US rank: #6957

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sacramento, CA
• County: Sacramento County · 1,539,646 people
• City population: 761,410
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 14,219
• Household income: $64,212
• Rent vs Own: 62.7% rent · 37.3% own
• Severe rent burden: 1529.0

Population outlook (Sacramento County) Hauer SSP2

• Today (2025): 1,660,763 people
• By 2030: 1,732,990 · +4.3%
• By 2040: 1,855,755 · +11.7%
• By 2050: 1,941,335 · +16.9%
• By 2075: 2,046,162 · +23.2%
• By 2100: 1,961,444 · +18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 43% Hispanic / Latino 24% Two or more races 13% Black 12% Asian 11% Native American 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 19% Dominican 1%
• Common ancestry: Italian 4% Slovak 2% Portuguese 2%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 9% Other Asian/Pacific 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Sacramento

• 2024 margin: D (+19.7) · D 58.1% · R 38.4% · Other 3.5%
• 2008→2024 swing: +0.7pp no change · 2008: 19.0pp · 2024: 19.7pp
• All cycles: 2024: D+19.7 2020: D+25.3 2016: D+23.7 2012: D+16.3 2008: D+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -402.45%
• Current HPI: 617.5913
• Rent YoY: ▲ 1.27%
• Metro: Sacramento-Roseville-Folsom, 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

+3400.0% since first listed

8 events — show timeline

• 2025-12-23 Price Changed $875,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-09-10 Listed $925,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-07-10 Sold (Public Records) $900,000 Public Records
• 2005-10-13 Sold (Public Records) $540,000 Public Records
• 2000-03-28 Sold (Public Records) $145,000 Public Records
• 1996-01-05 Sold (Public Records) $81,000 Public Records
• 1995-06-05 Sold (Public Records) $143,437 Public Records
• 1990-02-23 Sold (Public Records) $25,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $10,933 · +12.4% YoY. Source: county tax records.