23 Peroly Ct · Oakland, CA 94601

$875,000

4 bd · 4.0 ba · 2,754 sqft · MultiFamily public records · 95 Days on market

Built 1948 5,104 sqft lot $318/sqft · at area comps Est $906k · 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 +13.4/30.0
• ARV discount +9.1/15.0
• DSCR +4.0/10.0
• 1% rule +3.9/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Schools +3.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great 4 Plex on a cul de sac in East Oakland. Over 90K has been spent in remodel and 2 of the 4 units have been completely remodeled. Remodeled units are vacant. Projected rents for 2 vacant units. Excellent "Keeper" building. Driveway/Parking Lot access is from 26th Ave. 18K Termite on Stairs

Key facts

• 5,104 sq ft lot
• 4 garage spots
• Built 1948

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $875k.

Deal economics

• At list price, monthly cash flow is $10 ($126/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $775k (11.5% below list).
• Recommended offer: $775k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.5% 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: 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.
• Zoned schools: Manzanita Seed Elementary (414 students, 77% FRL); United For Success Academy Middle (370 students, 96% FRL); Fremont High (1,146 students, 97% FRL) — zoned schools average 90% FRL vs 68% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.9%/yr); 119 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $7,748/mo this rent would consume 128% of the median local household income ($72k/yr) (locally 3603% 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.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($796k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $545k; list at $875k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $774,800 (11.5% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.89% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.05%
• DSCR: 1.00
• GRM: 9.4

CMA / ARV

• ARV (median comp): $906,306
• List price: $875,000
• Delta: -3.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1914 22nd Ave	0.63mi	3/4.0 (-1)	2,738 (-1%)	8mo	$735,000	$268	58
2946 Bona St	0.32mi	3/4.0 (-1)	3,084 (+12%)	10mo	$740,000	$240	52
2865 E 16 St	0.69mi	4/4.0	2,622 (-5%)	18mo	$758,000	$289	45
3110 Coolidge Ave	0.56mi	3/4.0 (-1)	2,548 (-8%)	17mo	$835,000	$328	42
1656 33rd Ave	0.63mi	5/3.0 (+1)	2,496 (-9%)	5mo	$555,000	$222	42

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 · 3.89% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.45×
• Total profit: $-133,965
• Equity at exit: $130,465

10-year hold

• IRR: -5.2%
• Equity multiple: 0.65×
• Total profit: $-85,915
• Equity at exit: $75,654

Cash invested: $245,000 (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 94601

• Rents YoY: 3.9%
• Active inventory: 119
• Price-to-rent: 37.6×

Monthly cashflow live

• Estimated rent: $7,748 high
• Mortgage (P&I): −$4,589
• Tax from tax record: −$1,157 /mo · $13,887/yr
• Insurance: −$365
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,627
• Net cashflow: $10

Break-even live

Break-even rent $7,735

Max offer price $875,000

Occupancy floor 95%

Sensitivity live

Price	-10% $506	-5% $258	+0% $10	+5% $-237	+10% $-485
Rent	-10% $-602	-5% $-296	+0% $10	+5% $317	+10% $623
Rate	-1.0pp $451	-0.5pp $233	base $10	+0.5pp $-216	+1.0pp $-447

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,748
Total (4 units)			$7,748

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: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2422 E 24th St Unit 1 Oakland, CA	5.0	1.0	2364	$3,500	$1.48	45d	1	0.21mi
4120 Rhoda Ave Oakland, CA	3.0	3.5	2561	$6,995	$2.73	0d	1	1.50mi

Listing history 22 events

1. 2026-06-21
   days on market $875,000 Active 95 DOM
2. 2026-06-18
   days on market $875,000 Active 92 DOM
3. 2026-06-17
   days on market $875,000 Active 91 DOM
4. 2026-06-16
   days on market $875,000 Active 90 DOM
5. 2026-06-15
   days on market $875,000 Active 89 DOM
6. 2026-06-13
   days on market $875,000 Active 87 DOM
7. 2026-06-13
   days on market $875,000 Active 86 DOM
8. 2026-06-09
   days on market $875,000 Active 83 DOM
9. 2026-06-08
   days on market $875,000 Active 82 DOM
10. 2026-06-07
    days on market $875,000 Active 81 DOM
11. 2026-06-04
    days on market $875,000 Active 78 DOM
12. 2026-06-03
    days on market $875,000 Active 77 DOM
13. 2026-06-02
    days on market $875,000 Active 76 DOM
14. 2026-06-01
    days on market $875,000 Active 75 DOM
15. 2026-05-31
    days on market $875,000 Active 74 DOM
16. 2026-03-18
    listed $875,000 Active
17. 2026-03-18
    listed $875,000 Active
18. 2004-08-11
    soldstatus $545,000
19. 2004-08-10
    soldstatus $545,000 304-char remark

    Show marketing remark (304 chars)

    Great 4 Plex on a cul de sac in East Oakland. Over 90K has been spent in remodel and 2 of the 4 units have been completely remodeled. Remodeled units are vacant. Projected rents for 2 vacant units. Excellent "Keeper" building. Driveway/Parking Lot access is from 26th Ave. 18K Termite on Stairs

20. 2004-06-01
    historical 304-char remark

    Show marketing remark (304 chars)

    Great 4 Plex on a cul de sac in East Oakland. Over 90K has been spent in remodel and 2 of the 4 units have been completely remodeled. Remodeled units are vacant. Projected rents for 2 vacant units. Excellent "Keeper" building. Driveway/Parking Lot access is from 26th Ave. 18K Termite on Stairs

21. 2004-05-05
    listed $545,000 304-char remark

    Show marketing remark (304 chars)

    Great 4 Plex on a cul de sac in East Oakland. Over 90K has been spent in remodel and 2 of the 4 units have been completely remodeled. Remodeled units are vacant. Projected rents for 2 vacant units. Excellent "Keeper" building. Driveway/Parking Lot access is from 26th Ave. 18K Termite on Stairs

22. 2002-06-05
    soldstatus $370,000

ⓘ 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: $13,887 · $1,157/mo
• Projected year-2 tax: $13,887 · $1,157/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 ≥84°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $92,976
• − Mortgage interest: −$49,014
• − Property taxes: −$13,887
• − Insurance: −$4,375
• − Repairs & maintenance: −$7,438
• − Management: −$7,438
• − Depreciation: −$25,455
• Taxable loss: −$14,631
• Est. tax savings @ 24.0%: +$3,511
• After-tax cash flow: $3,637/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): 53,259
• Household income: $72,359
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3603.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 53% Asian 18% Black 13% White 11% Two or more races 10% Native American 3%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Italian 1% Scotch-Irish 1%
• Foreign-born: 40% · Canada, Vietnam, China
• Languages at home: 35% English-only · Spanish 46% Chinese 5% Vietnamese 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: ▼ -1045.52%
• Current HPI: 347.3256
• Rent YoY: ▲ 3.89%
• 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

+136.5% since first listed

7 events — show timeline

• 2026-03-18 Listed $875,000 MLSListings
• 2026-03-18 Listed $875,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-08-11 Sold (Public Records) $545,000 Public Records
• 2004-08-10 Sold (MLS) $545,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-06-01 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-05-05 Listed $545,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2002-06-05 Sold (Public Records) $370,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $13,887 · +4.4% YoY. Source: county tax records.