3037 College Ave · Berkeley, CA 94705

$1,349,000

8 bd · 4.0 ba · 3,081 sqft · MultiFamily public records · 12 Days on market

Built 1963 4,321 sqft lot $438/sqft · 18% below area Est $1643k · 18% 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).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• Schools +5.7/10.0
• DSCR +4.4/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• 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: 4 units. confirmed

Listing remarks

Incredible investment opportunity potential in one of Berkeley’s most sought after neighborhoods. Located in the vibrant College & Ashby area, this 4-plex sits just blocks from the desired Elmwood Shopping District & College Avenue shops, known for its boutiques, cafés, and diverse dining scene. Close to grocery stores, and shopping, South of UC Berkeley and near Rockridge BART Station, the property offers exceptional convenience with easy access to public transportation and a Walk Score of 95. It’s a walker’s paradise. Set on a picturesque tree lined street, the building features four units: three 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit t

Key facts

• College avenue shops
• Grocery stores
• College ashby area

Tags

• COLLEGE ASHBY AREA
• ELMWOOD SHOPPING DISTRICT
• COLLEGE AVENUE SHOPS
• GROCERY STORES
• ROCKRIDGE BART STATION
• PUBLIC TRANSPORTATION

Property features AI

Finance

• Financial info: Multi-unit income property with 4 total units

Exterior

• Parking: 4 off-street parking spaces; Unassigned parking, no garage
• Utilities: Public water; Public sewer; Individual electric meters; Individual gas meters; Separate electric and gas meters
• Home design: Residential income property (quadruplex); Built in 1963
• Construction: Stucco construction
• Exterior features: Front yard; Deck

Interior

• Kitchen: Includes washer and dryer hookups (washer and dryer listed under appliances); Gas water heater
• Bedrooms: 4-unit property (individual unit bedroom counts not provided)
• Flooring: Hardwood; Carpet
• Bathrooms: Each unit has 1 bathroom (4 total)
• Heating & cooling: Wall furnace heating; No air conditioning
• Interior features: Tub with shower over; Fireplace
• Laundry & utility: Inside laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3×2bd/1ba + 1×1bd/1ba units multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive. Per door: $70/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 $1.12M (17.3% below list).
• Recommended offer: $1.12M (17.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.0% in Berkeley — 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 77/100 on livability (#74 in CA, #2,860 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: crime F, cost of living F.
• Berkeley Unified (urban): math 61% / reading 67% proficiency, ranked #175 of 1,400 in CA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.7%/yr); 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $11,158/mo this rent would consume 80% of the median local household income ($168k/yr) (locally 473% 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 $9k of loan paydown is wiped out by about $40k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $1,115,800 (17.3% below list)

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 1963 — 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 A-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?
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: 0.83% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.89%
• DSCR: 1.04
• GRM: 10.1

CMA / ARV

• ARV (median comp): $1,643,356
• List price: $1,349,000
• Delta: -17.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3037 College Ave	0.00mi	7/4.0 (-1)	3,081 (0%)	1mo	$1,450,000	$471	94
2832 Derby St	0.55mi	8/3.0	3,292 (+7%)	23mo	$2,025,000	$615	39
2401 Ward St	0.58mi	8/5.2	2,642 (-14%)	16mo	$1,401,000	$530	31
2112 Ashby Ave	0.73mi	9/6.0 (+1)	3,452 (+12%)	17mo	$950,000	$275	19

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 · 6.68% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.58×
• Total profit: $-158,310
• Equity at exit: $201,140

10-year hold

• IRR: 2.4%
• Equity multiple: 1.19×
• Total profit: $73,379
• Equity at exit: $116,637

Cash invested: $377,720 (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 Berkeley: 0 Strongly Tenant-Friendly · D+78

Original CA rent control city; vacancy rent control after Costa Hawkins limits.

Methodology + full state rankings →

ZIP-level market 94705

• Rents YoY: 6.7%
• Active inventory: 56
• Price-to-rent: 39.4×

Monthly cashflow live

• Estimated rent: $11,158 high
• Mortgage (P&I): −$7,074
• Tax from tax record: −$900 /mo · $10,795/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,343
• Net cashflow: $279

Break-even live

Break-even rent $10,805

Max offer price $1,349,000

Occupancy floor 92%

Sensitivity live

Price	-10% $1,043	-5% $661	+0% $279	+5% $-103	+10% $-485
Rent	-10% $-603	-5% $-162	+0% $279	+5% $720	+10% $1,160
Rate	-1.0pp $958	-0.5pp $622	base $279	+0.5pp $-71	+1.0pp $-426

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,556
1× unit	1	1	$2,603
Total (4 units)			$11,158

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: $337,250
• Closing costs: $40,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2227 Carleton St #3 Berkeley, CA	8.0	4.0	2500	$13,500	$5.40	44d	1	0.80mi

Listing history 2 events

1. 2026-05-06
   status Pending 1318-char remark
2. 2026-04-24
   listed $1,349,000 Active 1318-char remark

ⓘ 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: $10,795 · $900/mo
• Projected year-2 tax: $10,795 · $900/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥84°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: $133,896
• − Mortgage interest: −$75,565
• − Property taxes: −$10,795
• − Insurance: −$6,745
• − Repairs & maintenance: −$10,712
• − Management: −$10,712
• − Depreciation: −$39,244
• Taxable loss: −$19,876
• Est. tax savings @ 24.0%: +$4,770
• After-tax cash flow: $8,117/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: Berkeley Unified
• NCES district ID: 0604740
• Math proficiency: 61% ▲ 2.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $66,202
• Composite: 57.37/100
• National rank: #2288
• State rank: #175 of 1400 in CA

Livability — Berkeley

• Score: 77/100
• State rank: #74
• US rank: #2860

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berkeley, CA
• County: Alameda County · 1,614,355 people
• City population: 121,632
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 13,991
• Household income: $167,970
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 473.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Asian 11% Two or more races 10% Hispanic / Latino 8% Black 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 5% Scotch-Irish 3% Lithuanian 3%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 79% English-only · Other Indo-European 5% Spanish 5% French/Haitian/Cajun 3%

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: ▼ -708.07%
• Current HPI: 300.2322
• Rent YoY: ▲ 6.68%
• 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

+7.5% since first listed

3 events — show timeline

• 2026-06-04 Sold (MLS) $1,450,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-06 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-24 Listed $1,349,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+3.8%/yr

Latest (2025): $10,795 · +17.4% YoY. Source: county tax records.