845 Isabella St · Oakland, CA 94607

$525,000

4 bd · 2.0 ba · 1,951 sqft · MultiFamily public records · 133 Days on market

Built 1905 3,669 sqft lot Est $730k · 28% under

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Why this score? — see what drove the C 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• 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: 2 units. confirmed

Listing remarks

MOTIVATED SELLERS – BRING AN OFFER. Introducing 845 & 843 Isabella Street, a rare duplex opportunity in Oakland offering historic 1905 charm, expansive outdoor space, and exceptional development potential. This property features a huge private yard and a barn-like rear structure that presents a compelling opportunity for ADU conversion or future expansion (buyer to verify). One unit will be delivered vacant, and the second unit is anticipated to be delivered vacant upon sale, making this an ideal opportunity for owner-occupants, investors, or multi-generational living. Inside, each unit offers well-proportioned living spaces with period details throughout—perfect for a liv

Key facts

• Historic property
• Expansive yard
• Live-and-work setup

Tags

• HISTORIC PROPERTY
• ACCESSORY DWELLING UNIT
• EXPANSIVE YARD
• RENTAL INCOME
• LIVE-AND-WORK SETUP
• PRIVACY AND FUNCTIONALITY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $690 ($8k/yr) — positive. Per door: $345/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $507k (3.4% below list).
• Recommended offer: $462k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 2.4% 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: schools C-, 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.
• Market conditions: Rents rising (+3.2%/yr); 133 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $5,070/mo this rent would consume 64% of the median local household income ($95k/yr) (locally 2002% 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 $4k of loan paydown is wiped out by about $16k 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 133 days — a 12% lower offer ($462k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $50k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $462,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% 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 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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.
10. 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.
11. 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: 0.97% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $729,674
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2025-2027 Curtis	0.18mi	4/2.0	1,893 (-3%)	1mo	$650,000	$343	86
865 27th St	0.21mi	4/2.0	1,920 (-2%)	13mo	$719,000	$374	77
699 33rd St	0.62mi	3/2.0 (-1)	1,951 (0%)	5mo	$580,000	$297	62
675 25th St	0.15mi	5/4.0 (+1)	2,070 (+6%)	12mo	$825,000	$399	60
2834 Summit St	0.65mi	4/3.0	2,070 (+6%)	3mo	$815,000	$394	53
601 32nd St	0.57mi	4/2.0	1,784 (-9%)	9mo	$585,000	$328	52
842 30th St	0.41mi	4/2.0	1,681 (-14%)	13mo	$603,000	$359	47
3130 Union St	0.74mi	4/4.0	2,062 (+6%)	23mo	$1,000,000	$485	29

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 · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-40,031
• Equity at exit: $78,279

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $26,299
• Equity at exit: $45,392

Cash invested: $147,000 (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 94607

• Rents YoY: 3.2%
• Active inventory: 133
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $5,070 high
• Mortgage (P&I): −$2,753
• Tax from tax record: −$277 /mo · $3,326/yr
• Insurance: −$219
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,065
• Net cashflow: $690

Break-even live

Break-even rent $4,197

Max offer price $525,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,070
Total (2 units)			$5,070

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
668 21st St Oakland, CA	2.0–3.0	1.0–2.0	1112	$2,233	$2.01	43d	1	0.35mi
814 30th St Emeryville, CA	4.0	2.0	2015	$7,000	$3.47	2d	1	0.39mi
471 26th St Oakland, CA	1.0–3.0	1.0–3.0	967	$3,963	$4.10	1d	8	0.44mi
2712 Adeline St Unit B Oakland, CA	4.0	3.0	1500	$3,800	$2.53	14d	1	0.44mi
3010 Martin Luther King Junior Way Oakland, CA	3.0	1.0	1700	$2,990	$1.76	43d	1	0.45mi
896 31st St Oakland, CA	3.0	2.0	1400	$2,250	$1.61	43d	1	0.45mi
500 William St Oakland, CA	3.0	1.0–2.0	1108	$4,654	$4.20	2d	16	0.47mi
2016 Telegraph Ave Oakland, CA	3.0	1.0–3.0	1026	$6,748	$6.58	1d	8	0.51mi
1123 30th St Unit 1 Oakland, CA	3.0	2.5	2083	$4,895	$2.35	43d	1	0.55mi
1123 30th St Emeryville, CA	3.0	2.0	2083	$4,895	$2.35	43d	1	0.55mi
2933 McClure St Oakland, CA	3.0	2.0	1440	$4,850	$3.37	2d	1	0.58mi
1950 Broadway Oakland, CA	4.0	1.0–2.0	737	$6,907	$9.37	1d	53	0.61mi
889 34th St Unit 889 Oakland, CA	4.0	2.0	1300	$3,095	$2.38	43d	1	0.66mi
1389 Jefferson St Oakland, CA	3.0	1.0–3.0	1166	$4,370	$3.75	2d	14	0.68mi
835 35th St Unit 1 Oakland, CA	3.0	2.0	1400	$2,950	$2.11	43d	1	0.69mi
1214 Adeline St Oakland, CA	3.0	2.0	1300	$3,160	$2.43	43d	1	0.72mi
1202 Adeline St Oakland, CA	4.0	3.0	1800	$3,795	$2.11	20d	1	0.74mi
1015 Martin Luther King Junior Way Unit B2 Oakland, CA	4.0	2.0	1800	$1,000	$0.56	43d	1	0.77mi
1015 Martin Luther King Junior Way Oakland, CA	4.0	2.0	1800	$1,300	$0.72	43d	1	0.78mi
3093 Broadway Oakland, CA	3.0	1.0–2.0	972	$4,210	$4.33	1d	24	0.87mi
1216 10th St Oakland, CA	3.0	2.0	1750	$3,399	$1.94	43d	1	0.88mi
3415 Haven St Emeryville, CA	3.0	2.5	1900	$4,200	$2.21	10d	1	0.89mi
1100 Webster St Oakland, CA	3.0	1.0–2.0	958	$5,014	$5.23	1d	7	1.00mi
3900 Adeline St Oakland, CA	3.0	1.0–2.0	809	$3,530	$4.36	3d	9	1.02mi
238 13th St Oakland, CA	3.0	1.0–2.0	946	$4,407	$4.66	1d	7	1.05mi
3123 Harrison St Oakland, CA	3.0	2.0	1450	$3,800	$2.62	5d	1	1.07mi
1733 14th St Unit 1733 Oakland, CA	3.0	2.0	1650	$3,015	$1.83	2d	1	1.18mi
1401 Park Ave Emeryville, CA	3.0	1.0–2.5	1191	$5,493	$4.61	10d	1	1.24mi
4510 Hubbard St Emeryville, CA	1.0–3.0	1.0–2.0	1221	$5,219	$4.27	1d	12	1.28mi
564 44th St Unit 1 Oakland, CA	4.0	2.0	1400	$3,250	$2.32	43d	1	1.35mi
520 Van Buren Ave Oakland, CA	1.0–3.0	1.0–2.0	974	$3,795	$3.89	43d	9	1.41mi
482 Jean St Oakland, CA	3.0	2.0	1595	$4,800	$3.01	23d	1	1.44mi
4700 Adeline St Emeryville, CA	3.0	2.0	1231	$3,505	$2.85	24d	1	1.47mi
1200 Lakeshore Ave Oakland, CA	1.0–3.0	1.5–2.5	1332	$10,245	$7.69	1d	14	1.49mi

Listing history 13 events

1. 2026-06-18
   days on market $525,000 Active 133 DOM
2. 2026-06-17
   days on market $525,000 Active 132 DOM
3. 2026-06-16
   days on market $525,000 Active 131 DOM
4. 2026-06-15
   pricestatusdays on market $525,000 Active 130 DOM
5. 2026-03-13
   status Pending
6. 2025-11-11
   status Active
7. 2025-10-28
   historical
8. 2025-10-27
   status Active
9. 2025-10-13
   historical
10. 2025-10-09
    listed $575,000 Active
11. 2024-11-06
    historical
12. 2024-06-08
    price
13. 2023-07-18
    listed New

ⓘ 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: $3,326 · $277/mo
• Projected year-2 tax: $3,990 · $332/mo
• Expected delta: +$664/yr (+$55/mo · 19.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥82°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,840
• − Mortgage interest: −$29,408
• − Property taxes: −$3,326
• − Insurance: −$3,422
• − Repairs & maintenance: −$4,867
• − Management: −$4,867
• − Depreciation: −$15,273
• Taxable loss: −$324
• Est. tax savings @ 24.0%: +$78
• After-tax cash flow: $8,355/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): 28,804
• Household income: $94,863
• Rent vs Own: 69.9% rent · 30.1% own
• Severe rent burden: 2002.0

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 0.78)
• Race & ethnicity: Black 29% White 25% Asian 25% Hispanic / Latino 13% Two or more races 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 1% Romanian 1% Portuguese 1%
• Foreign-born: 28% · China, Canada, Vietnam
• Languages at home: 65% English-only · Chinese 16% Spanish 8% Arabic 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: ▼ -170.49%
• Current HPI: 263.5885
• Rent YoY: ▲ 3.24%
• 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

9 events — show timeline

• 2026-03-13 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-11-11 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-10-28 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-10-27 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-10-13 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-10-09 Listed $575,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-11-06 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-06-08 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2023-07-18 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+4.5%/yr

Latest (2025): $3,326 · +5.2% YoY. Source: county tax records.