8115 Iris St · Oakland, CA 94605

$325,000

2 bd · 2.0 ba · 1,095 sqft · SingleFamily public records · 18 Days on market

Built 1925 3,610 sqft lot $297/sqft · 46% below area Est $603k · 46% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.0/30.0
• Livability +3.6/5.0
• DSCR +3.5/10.0
• Schools +3.0/10.0
• Rent growth +2.7/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into the charm and possibilities of 8115 Iris St — a classic Oakland bungalow just waiting for its glow-up moment. Bursting with mid-century personality and nostalgic details, this 2-bedroom, 1-bath home offers 1,095 sq ft of opportunity for dreamers, designers, investors, and anyone who appreciates a home with character. From the moment you arrive, the classic gabled roofline, gated yard, and distinctive driveway set the tone for something special. Inside, original hardwood floors flow through a spacious living room anchored by a vintage tiled fireplace and oversized mirrored mantel, creating the perfect backdrop for cozy nights and creative vision. The kitchen is pure retro mag

Key facts

• Gated yard
• Distinctive driveway
• 3,610 sq ft lot

Tags

• CLASSIC GABLED ROOFLINE
• GATED YARD
• DISTINCTIVE DRIVEWAY
• ORIGINAL HARDWOOD FLOORS
• VINTAGE TILED FIREPLACE
• OVERSIZED MIRRORED MANTEL

Property features AI

Exterior

• Parking: Detached garage (1 covered space); 1 garage space
• Utilities: Public water; Public sewer; Individual gas meter; Master electric meter
• Home design: Single-family residence (residential property); Built in 1925
• Construction: Stucco exterior; Shingle roof
• Exterior features: Back yard; Front yard; Level lot

Interior

• Kitchen: Dishwasher; Gas range / cooktop; Refrigerator; Other kitchen features
• Bedrooms: 2 bedrooms on street level
• Flooring: Hardwood flooring; Laminate flooring; Tile flooring
• Bathrooms: 2 bathrooms total (1 full, 1 partial)
• Heating & cooling: Forced air heating; Ceiling fans for cooling
• Interior features: Has fireplace (brick hearth in living room); 2 bedrooms on street level; Basement level rooms included; 5 total rooms
• Laundry & utility: Washer and dryer in an inside laundry room; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-80 ($-954/yr) — negative.
• To cash-flow at today's rent, offer at most $311k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (23.6% below list).
• Recommended offer: $248k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Melrose Leadership Academy (656 students, 47% FRL); Frick United Academy of Language Middle (334 students, 98% FRL); Castlemont High (680 students, 98% FRL).
• Market conditions: Rents flat; 187 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 18 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $248,407 (23.6% 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. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• GRM: 10.9

CMA / ARV

• ARV (median comp): $602,632
• List price: $325,000
• Delta: -46.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2749 Parker Ave	0.25mi	3/1.0 (+1)	1,089 (-0%)	1mo	$580,000	$533	77
2648 77th Ave	0.33mi	3/2.0 (+1)	1,078 (-2%)	2mo	$599,500	$556	75
2921 Parker Ave	0.36mi	2/1.0	1,043 (-5%)	1mo	$700,000	$671	71
7818 Arthur St	0.54mi	2/1.0	1,082 (-1%)	2mo	$520,000	$481	67
1927 83rd Ave	0.42mi	3/2.0 (+1)	1,040 (-5%)	0mo	$600,000	$577	67
2957 73rd Ave	0.61mi	2/1.0	1,023 (-7%)	0mo	$525,000	$513	56
1707 78th Ave	0.62mi	2/1.0	1,021 (-7%)	0mo	$305,000	$299	55
7808 Weld St	0.66mi	3/1.0 (+1)	1,118 (+2%)	3mo	$560,000	$501	55
7625 Hillside St	0.35mi	3/1.0 (+1)	1,234 (+13%)	2mo	$330,000	$267	52
1709 Auseon Ave	0.63mi	2/1.0	1,000 (-9%)	2mo	$305,000	$305	50
7114 Halliday	0.66mi	3/2.0 (+1)	1,242 (+13%)	1mo	$510,000	$411	41
3649 Shone Ave	0.72mi	3/2.0 (+1)	1,253 (+14%)	2mo	$835,000	$666	36

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 · 0.65% rent growth · sell at horizon

5-year hold

• IRR: -20.5%
• Equity multiple: 0.30×
• Total profit: $-63,555
• Equity at exit: $48,459

10-year hold

• IRR: -19.3%
• Equity multiple: 0.07×
• Total profit: $-84,686
• Equity at exit: $28,100

Cash invested: $91,000 (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 94605

• Rents YoY: 0.7%
• Active inventory: 187
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,484 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$202 /mo · $2,426/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-80

Break-even live

Break-even rent $2,585

Max offer price $310,955

Occupancy floor 98%

Sensitivity live

Price	-10% $104	-5% $12	+0% $-80	+5% $-171	+10% $-263
Rent	-10% $-276	-5% $-178	+0% $-80	+5% $19	+10% $117
Rate	-1.0pp $84	-0.5pp $3	base $-80	+0.5pp $-164	+1.0pp $-249

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8109 Hillside St Oakland, CA	3.0	1.0	1182	$3,300	$2.79	45d	1	0.07mi
2326 84th Ave Oakland, CA	2.0	1.0	1000	$2,075	$2.08	5d	1	0.19mi
2678 79th Ave Unit B Oakland, CA	2.0	1.0	1000	$2,500	$2.50	45d	1	0.21mi
8522 MacArthur Blvd Apt A Oakland, CA	3.0	1.0	900	$2,200	$2.44	45d	1	0.27mi
8521 Dowling St Oakland, CA	2.0	1.0	880	$2,575	$2.93	3d	1	0.28mi
8521 Dowling St Oakland, CA	2.0	1.0	880	$2,575	$2.93	1d	1	0.28mi
2028 81st Ave Oakland, CA	1.0	1.0	850	$1,600	$1.88	45d	1	0.30mi
8600 MacArthur Blvd Apt C Oakland, CA	3.0	1.0	1200	$2,600	$2.17	45d	1	0.31mi
7911 Bancroft Ave Oakland, CA	2.0	1.0	900	$2,500	$2.78	45d	1	0.32mi
8394 Ney Ave Oakland, CA	2.0	1.0	1113	$3,000	$2.70	45d	1	0.37mi
8653 Thermal St Oakland, CA	1.0	1.0	800	$2,200	$2.75	45d	1	0.39mi
3210 82nd Ave Oakland, CA	3.0	2.0	1462	$4,300	$2.94	22d	1	0.40mi
2341 88th Ave Unit 2341 Oakland, CA	1.0	1.0	700	$1,595	$2.28	45d	1	0.41mi
2339 88th Ave Unit 2339 Oakland, CA	1.0	1.0	700	$1,595	$2.28	45d	1	0.41mi
1933 84th Ave Unit C Oakland, CA	2.0	1.0	750	$2,095	$2.79	16d	1	0.43mi
8330 Birch St Unit C Oakland, CA	3.0	1.0	1000	$2,200	$2.20	7d	1	0.47mi
1715 82nd Ave Oakland, CA	3.0	2.0	1290	$3,000	$2.33	45d	1	0.55mi
9046 Hillside St Oakland, CA	1.0	1.0	850	$2,300	$2.71	5d	1	0.60mi
9046 E St Unit Hillside St unit Oakland, CA	1.0	1.0	850	$2,300	$2.71	7d	1	0.60mi
7724 Crest Ave Oakland, CA	3.0	1.0	1500	$3,300	$2.20	45d	1	0.62mi
7630 Lockwood St Apt 41 Oakland, CA	1.0	1.0	750	$2,000	$2.67	45d	1	0.66mi
9220 Bancroft Ave Unit B Oakland, CA	3.0	1.0	960	$3,600	$3.75	45d	1	0.67mi
2121 94th Ave Oakland, CA	1.0	1.0	700	$1,695	$2.42	45d	1	0.77mi
3408 68th Ave Unit C Oakland, CA	2.0	1.0	700	$2,550	$3.64	3d	1	0.81mi
3421 68th Ave Apt 6 Oakland, CA	3.0	1.0	800	$2,650	$3.31	12d	1	0.86mi
3421 68th Ave Unit 3 Oakland, CA	3.0	1.0	860	$2,695	$3.13	45d	1	0.86mi
1428 78th Ave Unit 1 Oakland, CA	1.0	1.0	1000	$1,950	$1.95	45d	1	0.90mi
6638 MacArthur Blvd Unit 6640-F Oakland, CA	2.0	1.0	850	$2,395	$2.82	45d	1	0.90mi
1333 87th Ave Oakland, CA	2.0	1.0	1153	$2,500	$2.17	23d	1	0.92mi
9714 MacArthur Blvd Unit 9714 Oakland, CA	2.0	1.0	1000	$2,100	$2.10	45d	1	0.92mi
6618 Laird Ave Oakland, CA	2.0	1.0	1000	$2,423	$2.42	3d	1	0.93mi
7123 Holly St Unit d Oakland, CA	2.0	1.0	700	$1,795	$2.56	16d	1	0.94mi
9317 Walnut St Oakland, CA	2.0	1.0	950	$2,500	$2.63	45d	1	0.94mi
2694 Havenscourt Blvd Unit A Oakland, CA	2.0	1.0	800	$1,995	$2.49	7d	1	0.97mi
9641 Birch St Apt 3 Oakland, CA	3.0	2.0	780	$2,490	$3.19	26d	1	1.00mi
6625 Bancroft Ave Unit 6621 Oakland, CA	2.0	1.0	734	$1,950	$2.66	45d	1	1.00mi
6621 Bancroft Ave Oakland, CA	2.0	1.0	734	$1,950	$2.66	45d	1	1.01mi
8811 A St Unit 2 Oakland, CA	2.0	1.0	1020	$1,990	$1.95	26d	1	1.01mi
2600 Havenscourt Blvd Oakland, CA	2.0	1.0	906	$3,000	$3.31	16d	1	1.02mi
2600 Havenscourt Blvd Oakland, CA	2.0	1.0	906	$3,000	$3.31	14d	1	1.02mi

Listing history 2 events

1. 2026-05-10
   listed $325,000 Active 1462-char remark
2. 2022-08-05
   soldstatus $320,000

ⓘ 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: $2,426 · $202/mo
• Projected year-2 tax: $2,470 · $206/mo
• Expected delta: +$44/yr (+$4/mo · 1.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 16 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: $29,809
• − Mortgage interest: −$18,205
• − Property taxes: −$2,426
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,385
• − Management: −$2,385
• − Depreciation: −$9,455
• Taxable loss: −$6,671
• Est. tax savings @ 24.0%: +$1,601
• After-tax cash flow: $647/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): 44,103
• Household income: $106,068
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 2086.0

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 0.73)
• Race & ethnicity: Black 40% Hispanic / Latino 27% White 17% Two or more races 11% Asian 9%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Italian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 20% · Canada, China, Vietnam
• Languages at home: 70% English-only · Spanish 21% Chinese 2% Other Asian/Pacific 2%

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: ▼ -793.09%
• Current HPI: 294.5467
• Rent YoY: ▲ 0.65%
• 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

+1.6% since first listed

3 events — show timeline

• 2026-05-28 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-10 Listed $325,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2022-08-05 Sold (Public Records) $320,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,426 · +5.4% YoY. Source: county tax records.