1277 Russell Way · Hayward, CA 94541

$1,650,000

18 bd · 12.0 ba · 8,915 sqft · MultiFamily public records · 4 Days on market

Built 1964 8,899 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

1277 Russell Way is a 12-unit multifamily property in Hayward offering a value-add opportunity for experienced investors. The property features a functional unit mix in an established rental market with convenient access to BART, major freeways (I-880 & I-580), and local amenities. The asset requires significant capital improvements and is best suited for buyers with the expertise and resources to address deferred maintenance and structural issues. This creates the potential to reposition the property through renovation and operational enhancements. The property is being sold in its present as-is'' condition. Buyers are advised to conduct their own investigations regarding the physica

Key facts

• 8,899 sq ft lot
• 10 garage spots
• Built 1964

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Covered parking; 15 parking spaces total; 10 garage spaces
• Utilities: Cable available; Internet available; Natural gas connected; Public water; Public sewer
• Home design: Residential income property (apartments); 5 or more units; 12 total units; Three stories (building has 3 stories, levels listed as Two)
• Construction: Built in 1964
• Exterior features: Flat roof; Regular-shaped lot

Interior

• Kitchen: Free-standing electric oven
• Bedrooms: Unit 1: 1 bedroom
• Flooring: Carpet; Linoleum
• Bathrooms: Unit 1: 1 full bathroom
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: Gas water heater; Free-standing electric oven; Coin-operated laundry in common area (leased washer/dryer)
• Laundry & utility: Coin-operated laundry in common area; Washer/dryer leased

What this means for you Summary

Snapshot

• This is a 12 × 18-bed/1.0-bath units multifamily listed at $1.65M.

Deal economics

• At list price, monthly cash flow is $20k ($241k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($41k rent vs $1.65M).
• Cap rate 20.9% vs local median 2.1% in Hayward — 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 (#124 in CA, #4,294 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: schools D, crime F, cost of living F.
• Hayward Unified (urban): math 25% / reading 37% proficiency, ranked #935 of 1,400 in CA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 145 active listings in the ZIP; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $41,080/mo this rent would consume 466% of the median local household income ($106k/yr) (locally 2966% 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 $11k of loan paydown is wiped out by about $50k 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 + 0.0% rent growth), your $462k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $1,650,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.49% ✓
• Cap rate: 20.87%
• Cash-on-cash: 52.06%
• DSCR: 3.32
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.03% rent growth · sell at horizon

5-year hold

• IRR: 46.5%
• Equity multiple: 2.93×
• Total profit: $891,154
• Equity at exit: $246,020

10-year hold

• IRR: 50.9%
• Equity multiple: 5.25×
• Total profit: $1,963,727
• Equity at exit: $142,662

Cash invested: $462,000 (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 94541

• Rents YoY: 0.0%
• Active inventory: 145
• Price-to-rent: 40.2×

Monthly cashflow live

• Estimated rent: $41,080 medium
• Mortgage (P&I): −$8,653
• Tax from tax record: −$3,071 /mo · $36,847/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,627
• Net cashflow: $20,042

Break-even live

Break-even rent $15,710

Max offer price $1,650,000

Occupancy floor 46%

Sensitivity live

Price	-10% $20,976	-5% $20,509	+0% $20,042	+5% $19,575	+10% $19,108
Rent	-10% $16,797	-5% $18,420	+0% $20,042	+5% $21,665	+10% $23,288
Rate	-1.0pp $20,873	-0.5pp $20,462	base $20,042	+0.5pp $19,615	+1.0pp $19,180

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

Units	Beds	Baths	Est. rent
▸ 12× units	18	1	$41,076
Total (12 units)			$41,080

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: $412,500
• Closing costs: $49,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-09
   days on market $1,650,000 Active 4 DOM
2. 2026-06-08
   days on market $1,650,000 Active 3 DOM
3. 2026-06-07
   remarks 695-char remark
4. 2026-06-07
   listed $1,650,000 Active 2 DOM

ⓘ 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: $36,847 · $3,071/mo
• Projected year-2 tax: $36,847 · $3,071/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 ≥88°F today · 14 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: $492,960
• − Mortgage interest: −$92,426
• − Property taxes: −$36,847
• − Insurance: −$8,250
• − Repairs & maintenance: −$39,437
• − Management: −$39,437
• − Depreciation: −$48,000
• Taxable income: $228,564
• Est. tax owed @ 24.0%: −$54,855
• After-tax cash flow: $185,653/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: Hayward Unified
• NCES district ID: 0616740
• Math proficiency: 25% ▼ -1.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $65,326
• Composite: 31.27/100
• National rank: #11241
• State rank: #935 of 1400 in CA

Livability — Hayward

• Score: 75/100
• State rank: #124
• US rank: #4294

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hayward, CA
• County: Alameda County · 1,614,355 people
• City population: 191,800
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 67,139
• Household income: $105,729
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 2966.0

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 0.72)
• Race & ethnicity: Hispanic / Latino 45% Asian 19% White 18% Two or more races 15% Black 11% Pacific Islander 2% Native American 1%
• Hispanic origin (detail): Mexican 34% Puerto Rican 1%
• Common ancestry: Russian 2% Italian 1% Lithuanian 1%
• Foreign-born: 36% · Canada, China, Vietnam
• Languages at home: 47% English-only · Spanish 35% Tagalog/Filipino 4% Chinese 4%

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: ▼ -830.36%
• Current HPI: 289.0537
• Rent YoY: ▬ 0.03%
• 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

1 event — show timeline

• 2004-09-30 Sold (Public Records) $1,575,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $36,847 · +37.3% YoY. Source: county tax records.