2594-2596 Mcallister St · San Francisco, CA 94118

$2,069,000

8 bd · 4.0 ba · 5,825 sqft · MultiFamily public records · 39 Days on market

Built 1900 2,121 sqft lot $355/sqft · 36% below area Est $2113k · at est.

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Why this score? — see what drove the A- 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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Appreciation +9.0/10.0
• ARV discount +8.4/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

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

Steps from the Panhandle and just one block from Golden Gate Park, this handsome Victorian building is anchored by a standout two-level owner's unit that delivers the kind of grand living spaces and thoughtful design rarely found in the city today. With 3+ bedrooms, 2 bathrooms, an abundance of natural light, generous room proportions, and exquisite period details, the versatile layout blends timeless elegance with contemporary sophisticationcreating an entertainer's dream that feels both historic and refreshingly modern. The Two Level owners unit also has a parking apron at the rear. All four units are currently tenant-occupied, providing immediate income from day one. The building is sepa

Key facts

• Washer dryer
• Large basement area
• Parking apron

Tags

• TWO LEVEL OWNERS UNIT
• PARKING APRON
• LARGE BASEMENT AREA
• WASHER DRYER
• EASY ACCESS TO MARKETS
• EASY ACCESS TO SHOPS

Property features AI

Finance

• Financial info: Four total units (all apartments); All four units are leased; Unit mix includes two 1-bed units, one 2-bed unit, and one 3-bed unit; Unit descriptions: large-scale 2-level unit; lower-level unit; rear unit on Stanyan side; upper-level unit on Stanyan side
• HOA & community: No association fee

Exterior

• Parking: One uncovered open parking space
• Home design: Victorian-style quadruplex (residential income); Three or more levels; Updated / remodeled; Built in 1900
• Construction: Appraiser-determined building area: 3,836; Appraiser-determined living area: 3,836
• Exterior features: Level lot; Landscaped yard; Regular-shaped lot

Interior

• Bedrooms: Seven total bedrooms (distribution across units)
• Bathrooms: Five full bathrooms
• Interior features: Common area laundry
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/5.0-bath units multifamily listed at $2.07M.

Deal economics

• At list price, monthly cash flow is $10k ($117k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $2.07M).
• Recommended offer: $2.01M (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 2.1% in San Francisco — 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 76/100 on livability (#90 in CA, #3,143 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• San Francisco Unified (urban): math 50% / reading 56% proficiency, ranked #322 of 1,400 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+17.1%/yr); 50 active listings in the ZIP; high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $29,233/mo this rent would consume 214% of the median local household income ($164k/yr) (locally 1780% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $178k of equity ($14k loan paydown + $164k appreciation (7.9% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.9% appreciation + 8.0% rent growth), your $579k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$285k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($2.01M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $330k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.22M; list at $2.07M implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,006,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. 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?
8. 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.
9. 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.
10. 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: 1.41% ✓
• Cap rate: 11.95%
• Cash-on-cash: 20.20%
• DSCR: 1.90
• GRM: 5.9

CMA / ARV

• ARV (median comp): $2,112,654
• List price: $2,069,000
• Delta: -2.07%
• 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
2058-2060 Fell St	0.27mi	9/5.0 (+1)	5,557 (-5%)	0mo	$2,525,000	$454	70
2267 Hayes St	0.21mi	7/4.0 (-1)	5,355 (-8%)	8mo	$2,075,000	$387	65
1671-1673 Hayes St	0.60mi	9/6.0 (+1)	5,175 (-11%)	3mo	$2,700,000	$522	38
1460-1462 Waller St	0.59mi	7/6.0 (-1)	5,165 (-11%)	14mo	$2,050,000	$397	29
376 Frederick St	0.67mi	9/— (+1)	5,075 (-13%)	17mo	$2,153,550	$424	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.92% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 38.6%
• Equity multiple: 3.79×
• Total profit: $1,616,829
• Equity at exit: $1,560,346

10-year hold

• IRR: 36.6%
• Equity multiple: 8.97×
• Total profit: $4,618,430
• Equity at exit: $3,086,340

Cash invested: $579,320 (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 San Francisco: 0 Strongly Tenant-Friendly · D+57

SF Rent Ordinance + Eviction Protections; relocation $10k+; one of strictest in US.

Methodology + full state rankings →

ZIP-level market 94118

• Home prices YoY: 3.3%
• Rents YoY: 17.1%
• Active inventory: 50
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $29,233 medium
• Mortgage (P&I): −$10,850
• Tax from tax record: −$1,631 /mo · $19,578/yr
• Insurance: −$862
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,139
• Net cashflow: $9,750

Break-even live

Break-even rent $16,891

Max offer price $2,069,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	5	$29,232
Total (4 units)			$29,233

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: $517,250
• Closing costs: $62,070
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $2,069,000 Active 39 DOM
2. 2026-06-18
   price $2,069,000 Active 38 DOM
3. 2026-06-17
   status $2,100,000 Active 38 DOM
4. 2026-06-17
   days on market $2,100,000 Contingent - No Show 38 DOM
5. 2026-06-16
   days on market $2,100,000 Contingent - No Show 37 DOM
6. 2026-06-15
   days on market $2,100,000 Contingent - No Show 36 DOM
7. 2026-06-13
   days on market $2,100,000 Contingent - No Show 34 DOM
8. 2026-06-13
   statusdays on market $2,100,000 Contingent - No Show 33 DOM
9. 2026-06-09
   days on market $2,100,000 Active 30 DOM
10. 2026-06-08
    days on market $2,100,000 Active 29 DOM
11. 2026-06-07
    pricedays on market $2,100,000 Active 28 DOM
12. 2026-06-04
    days on market $2,399,000 Active 25 DOM
13. 2026-06-03
    days on market $2,399,000 Active 24 DOM
14. 2026-06-02
    days on market $2,399,000 Active 23 DOM
15. 2026-06-01
    days on market $2,399,000 Active 22 DOM
16. 2026-05-31
    days on market $2,399,000 Active 21 DOM
17. 2026-05-10
    listed $2,399,000 Active 1676-char remark
18. 2013-02-28
    soldstatus $1,221,000

ⓘ 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: $19,578 · $1,631/mo
• Projected year-2 tax: $19,578 · $1,631/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 2/10 Low 7 d/yr ≥78°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $350,796
• − Mortgage interest: −$115,896
• − Property taxes: −$19,578
• − Insurance: −$10,345
• − Repairs & maintenance: −$28,064
• − Management: −$28,064
• − Depreciation: −$60,189
• Taxable income: $88,661
• Est. tax owed @ 24.0%: −$21,279
• After-tax cash flow: $95,727/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: San Francisco Unified
• NCES district ID: 0634410
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $81,249
• Composite: 50.14/100
• National rank: #4088
• State rank: #322 of 1400 in CA

Livability — San Francisco

• Score: 76/100
• State rank: #90
• US rank: #3143

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: San Francisco, CA
• County: San Francisco County · 827,552 people
• City population: 827,552
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 39,130
• Household income: $163,995
• Rent vs Own: 64.9% rent · 35.1% own
• Severe rent burden: 1780.0

Population outlook (San Francisco County) Hauer SSP2

• Today (2025): 1,030,936 people
• By 2030: 1,110,409 · +7.7%
• By 2040: 1,270,010 · +23.2%
• By 2050: 1,435,001 · +39.2%
• By 2075: 1,779,074 · +72.6%
• By 2100: 1,966,767 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Asian 32% Two or more races 10% Hispanic / Latino 10% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 3% Italian 3% Scotch-Irish 2%
• Foreign-born: 25% · China, Canada, South Korea
• Languages at home: 65% English-only · Chinese 15% Spanish 6% Other Indo-European 3%

Political lean MEDSL · San Francisco

• 2024 margin: Solid D (+64.8) · D 80.3% · R 15.5% · Other 4.1%
• 2008→2024 swing: -5.7pp toward R · 2008: 70.5pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+72.5 2016: D+76.1 2012: D+70.2 2008: D+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.92%
• Current HPI: 250.5205
• Rent YoY: ▲ 17.14%
• 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

+69.5% since first listed

6 events — show timeline

• 2026-06-17 Price Changed $2,069,000 San Francisco MLS
• 2026-06-17 Relisted — San Francisco MLS
• 2026-06-10 Contingent — San Francisco MLS
• 2026-06-05 Price Changed $2,100,000 San Francisco MLS
• 2026-05-10 Listed $2,399,000 San Francisco MLS
• 2013-02-28 Sold (Public Records) $1,221,000 Public Records

Property tax history

+11.6%/yr

Latest (2025): $19,578 · +3.0% YoY. Source: county tax records.