788 Minna St #203 · San Francisco, CA 94103

$360,000

1 bd · 1.0 ba · 554 sqft · Condo public records · 255 Days on market

Built 2011 $650/sqft · 41% below area Est $615k · 41% under $561/mo HOA · 14% of rent

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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 +14.5/30.0
• Appreciation +7.5/10.0
• 1% rule +5.8/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

1-bedroom Below Market Rate (BMR) housing opportunity available at 90% Area Median Income (AMI). Maximum income for 1 person = $98,200; 2 = $112,250; 3 = $126,250, etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. The unit will be available on a first come first served basis starting on 10/29/2025 at 8:00 AM PST. Please visit https://housing. sfgov.org/list- ings/a0W7y000009ZPnxEAG to view the listing and for application & program info. FAIR HOUSING OPPOR- TUNITY.

Key facts

• $561 HOA
• Built 2011
• Listed 255 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $360k.

Deal economics

• At list price, monthly cash flow is $80 ($959/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).
• Recommended offer: $317k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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.
• Zoned schools: Lilienthal (Claire) Elementary (669 students, 19% FRL); Giannini (A.P.) Middle (1,192 students, 34% FRL); Lowell High (2,632 students, 37% FRL) — zoned schools average 30% FRL vs 49% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+15.5%/yr); 113 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• This rent runs 40% of the median local income ($116k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $20k of equity ($2k loan paydown + $18k appreciation (5.0% 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 (5.0% appreciation + 8.0% rent growth), your $101k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 255 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $55k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $261k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $316,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 255 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.08% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 7.7

CMA / ARV

• ARV (median comp): $614,999
• List price: $360,000
• Delta: -41.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

4.96% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 2.07×
• Total profit: $108,286
• Equity at exit: $203,188

10-year hold

• IRR: 19.3%
• Equity multiple: 4.71×
• Total profit: $373,571
• Equity at exit: $349,998

Cash invested: $100,800 (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 94103

• Home prices YoY: 2.9%
• Rents YoY: 15.5%
• Active inventory: 113
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,901 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$403 /mo · $4,841/yr
• Insurance: −$150
• HOA: −$561
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $80

Break-even live

Break-even rent $3,800

Max offer price $360,000

Occupancy floor 93%

Sensitivity live

Price	-10% $284	-5% $182	+0% $80	+5% $-22	+10% $-124
Rent	-10% $-228	-5% $-74	+0% $80	+5% $234	+10% $388
Rate	-1.0pp $261	-0.5pp $171	base $80	+0.5pp $-13	+1.0pp $-108

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1288 Howard St #604 San Francisco, CA	1.0	1.0	431	$3,400	$7.89	45d	1	0.05mi
1288 Howard St #1908 San Francisco, CA	1.0–2.0	1.0–2.0	782	$4,190	$5.35	4d	2	0.05mi
55 9th St San Francisco, CA	2.0	1.0–2.0	833	$4,428	$5.32	0d	1	0.10mi
33 8th St San Francisco, CA	1.0–2.0	1.0	646	$3,637	$5.63	1d	10	0.15mi
18 10th St #1315 San Francisco, CA	—	1.0	479	$4,463	$9.31	5d	2	0.17mi
1188 Mission St San Francisco, CA	1.0	1.0	448	$3,394	$7.57	0d	16	0.17mi
1177 Market St San Francisco, CA	1.0–2.0	1.0	562	$3,715	$6.60	0d	7	0.18mi
8 10th St San Francisco, CA	2.0	1.0–2.0	882	$6,526	$7.40	0d	25	0.19mi
1390 Market St San Francisco, CA	1.0	1.0	561	$4,067	$7.25	0d	13	0.20mi
1 Polk St San Francisco, CA	1.0	1.0	773	$4,644	$6.00	0d	3	0.23mi
603 Natoma St Apt 406 San Francisco, CA	1.0	1.0	556	$2,950	$5.31	45d	1	0.26mi
101 Polk St San Francisco, CA	1.0–2.0	1.0	627	$4,440	$7.08	0d	9	0.26mi
99 Rausch St San Francisco, CA	1.0	1.0	655	$4,250	$6.49	26d	1	0.27mi
100 Van Ness Ave #1477 San Francisco, CA	1.0–2.0	1.0–2.0	865	$5,470	$6.32	1d	2	0.29mi
150 Van Ness Ave #1475 San Francisco, CA	1.0	1.0	615	$5,510	$8.96	22d	1	0.29mi
1222 Harrison St San Francisco, CA	2.0	1.0–2.5	856	$4,910	$5.74	0d	32	0.31mi
30 Otis St San Francisco, CA	2.0	1.0–2.0	874	$6,194	$7.08	0d	15	0.34mi
1075 Market St San Francisco, CA	1.0	1.0	546	$3,500	$6.40	26d	2	0.35mi
1075 Market St #461 San Francisco, CA	1.0	1.0	648	$3,460	$5.34	22d	1	0.35mi
1075 Market St #603 San Francisco, CA	—	1.0	445	$3,300	$7.42	9d	1	0.36mi
24 Franklin St San Francisco, CA	—	1.0	460	$6,000	$13.04	1d	1	0.37mi
570 Jessie St San Francisco, CA	—	1.0	430	$2,495	$5.80	4d	1	0.39mi
1 Brady St San Francisco, CA	2.0	1.0–2.0	889	$5,592	$6.29	0d	26	0.40mi
225 Fell St San Francisco, CA	1.0	1.0	512	$4,495	$8.77	9d	3	0.41mi
50 Jones St San Francisco, CA	1.0	1.0	471	$3,342	$7.10	0d	8	0.42mi
305 Franklin St Unit 21 San Francisco, CA	—	1.0	450	$2,795	$6.21	9d	1	0.43mi
1028 Market St San Francisco, CA	2.0	1.0	526	$4,090	$7.77	0d	5	0.43mi
84 Harriet St Unit A San Francisco, CA	1.0	1.0	718	$3,295	$4.59	22d	1	0.43mi
179 Oak St Apt F San Francisco, CA	—	1.0	500	$2,495	$4.99	9d	1	0.45mi
285 Turk St Apt 507 San Francisco, CA	1.0	1.0	462	$1,795	$3.89	45d	1	0.46mi
975 Bryant St San Francisco, CA	2.0	1.0–2.0	697	$5,027	$7.21	1d	10	0.48mi
1699 Market St San Francisco, CA	1.0	1.0	561	$4,871	$8.68	1d	7	0.50mi
68 McCoppin St San Francisco, CA	1.0	1.0	734	$3,825	$5.21	18d	2	0.52mi
601 Van Ness Ave San Francisco, CA	1.0	1.0	653	$3,795	$5.81	12d	2	0.53mi
601 Van Ness Ave San Francisco, CA	1.0	1.0	637	$3,820	$6.00	1d	2	0.53mi
434 Minna St San Francisco, CA	2.0	1.0–2.0	719	$5,224	$7.26	0d	15	0.55mi
960 Market St San Francisco, CA	1.0	1.0	613	$4,295	$7.01	24d	1	0.55mi
95 McCoppin St Unit 210 San Francisco, CA	1.0	1.0	568	$3,500	$6.16	0d	1	0.55mi
325 Octavia St San Francisco, CA	2.0	1.0–2.0	811	$6,889	$8.49	1d	1	0.58mi
360 Hyde St San Francisco, CA	—	1.0	415	$1,795	$4.33	45d	1	0.58mi

HOA detail condo

• Monthly dues: $561 · $6,732/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $360,000 Active 255 DOM
2. 2026-06-18
   days on market $360,000 Active 252 DOM
3. 2026-06-17
   days on market $360,000 Active 251 DOM
4. 2026-06-16
   days on market $360,000 Active 250 DOM
5. 2026-06-15
   days on market $360,000 Active 249 DOM
6. 2026-06-13
   days on market $360,000 Active 247 DOM
7. 2026-06-13
   days on market $360,000 Active 246 DOM
8. 2026-06-09
   days on market $360,000 Active 243 DOM
9. 2026-06-08
   days on market $360,000 Active 242 DOM
10. 2026-06-07
    days on market $360,000 Active 241 DOM
11. 2026-06-04
    days on market $360,000 Active 238 DOM
12. 2026-06-03
    days on market $360,000 Active 237 DOM
13. 2026-06-02
    days on market $360,000 Active 236 DOM
14. 2026-06-01
    days on market $360,000 Active 235 DOM
15. 2026-05-31
    days on market $360,000 Active 234 DOM
16. 2026-04-15
    price $360,000 642-char remark

    Show marketing remark (642 chars)

    1-bedroom Below Market Rate (BMR) housing opportunity available at 90% Area Median Income (AMI). Maximum income for 1 person = $98,200; 2 = $112,250; 3 = $126,250, etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. The unit will be available on a first come first served basis starting on 10/29/2025 at 8:00 AM PST. Please visit https://housing. sfgov.org/list- ings/a0W7y000009ZPnxEAG to view the listing and for application & program info. FAIR HOUSING OPPOR- TUNITY.

17. 2026-01-05
    status Active 642-char remark

    Show marketing remark (642 chars)

    1-bedroom Below Market Rate (BMR) housing opportunity available at 90% Area Median Income (AMI). Maximum income for 1 person = $98,200; 2 = $112,250; 3 = $126,250, etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. The unit will be available on a first come first served basis starting on 10/29/2025 at 8:00 AM PST. Please visit https://housing. sfgov.org/list- ings/a0W7y000009ZPnxEAG to view the listing and for application & program info. FAIR HOUSING OPPOR- TUNITY.

18. 2025-12-01
    status Active 642-char remark

    Show marketing remark (642 chars)

    1-bedroom Below Market Rate (BMR) housing opportunity available at 90% Area Median Income (AMI). Maximum income for 1 person = $98,200; 2 = $112,250; 3 = $126,250, etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. The unit will be available on a first come first served basis starting on 10/29/2025 at 8:00 AM PST. Please visit https://housing. sfgov.org/list- ings/a0W7y000009ZPnxEAG to view the listing and for application & program info. FAIR HOUSING OPPOR- TUNITY.

19. 2025-10-22
    price $397,000 642-char remark

    Show marketing remark (642 chars)

    1-bedroom Below Market Rate (BMR) housing opportunity available at 90% Area Median Income (AMI). Maximum income for 1 person = $98,200; 2 = $112,250; 3 = $126,250, etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. The unit will be available on a first come first served basis starting on 10/29/2025 at 8:00 AM PST. Please visit https://housing. sfgov.org/list- ings/a0W7y000009ZPnxEAG to view the listing and for application & program info. FAIR HOUSING OPPOR- TUNITY.

20. 2025-09-18
    listed $414,640 Active 642-char remark

    Show marketing remark (642 chars)

    1-bedroom Below Market Rate (BMR) housing opportunity available at 90% Area Median Income (AMI). Maximum income for 1 person = $98,200; 2 = $112,250; 3 = $126,250, etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. The unit will be available on a first come first served basis starting on 10/29/2025 at 8:00 AM PST. Please visit https://housing. sfgov.org/list- ings/a0W7y000009ZPnxEAG to view the listing and for application & program info. FAIR HOUSING OPPOR- TUNITY.

21. 2012-06-20
    soldstatus $260,983 Closed 290-char remark

    Show marketing remark (290 chars)

    788 Minna Street, #203 & #303 Below Market Rate 1BD/1BA for $260,983. 1st time buyers must qualify for income eligibility. Income max for apps are 1 person - $64,900, 2 persons - $74,150, 3 persons - $83,450. Unit monitored by Mayor's Office of Housing and subject to resale controls.

22. 2012-04-10
    status Contingent - Show 290-char remark

    Show marketing remark (290 chars)

    788 Minna Street, #203 & #303 Below Market Rate 1BD/1BA for $260,983. 1st time buyers must qualify for income eligibility. Income max for apps are 1 person - $64,900, 2 persons - $74,150, 3 persons - $83,450. Unit monitored by Mayor's Office of Housing and subject to resale controls.

23. 2012-03-21
    listed $260,983 Active 290-char remark

    Show marketing remark (290 chars)

    788 Minna Street, #203 & #303 Below Market Rate 1BD/1BA for $260,983. 1st time buyers must qualify for income eligibility. Income max for apps are 1 person - $64,900, 2 persons - $74,150, 3 persons - $83,450. Unit monitored by Mayor's Office of Housing and subject to resale controls.

ⓘ 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: $4,841 · $403/mo
• Projected year-2 tax: $4,841 · $403/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 8 d/yr ≥79°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,818
• − Mortgage interest: −$20,166
• − Property taxes: −$4,841
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,745
• − Management: −$3,745
• − HOA: −$6,732
• − Depreciation: −$10,473
• Taxable loss: −$4,684
• Est. tax savings @ 24.0%: +$1,124
• After-tax cash flow: $2,083/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): 34,964
• Household income: $116,438
• Rent vs Own: 80.3% rent · 19.7% own
• Severe rent burden: 2666.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: White 32% Asian 31% Hispanic / Latino 20% Two or more races 11% Black 10% Native American 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 36% · Canada, China, Vietnam
• Languages at home: 56% English-only · Spanish 16% Chinese 9% Tagalog/Filipino 6%

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: ▲ 4.96%
• Current HPI: 175.4945
• Rent YoY: ▲ 15.50%
• 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

+37.9% since first listed

8 events — show timeline

• 2026-04-15 Price Changed $360,000 San Francisco MLS
• 2026-01-05 Relisted — San Francisco MLS
• 2025-12-01 Relisted — San Francisco MLS
• 2025-10-22 Price Changed $397,000 San Francisco MLS
• 2025-09-18 Listed $414,640 San Francisco MLS
• 2012-06-20 Sold (MLS) $260,983 San Francisco MLS
• 2012-04-10 Pending — San Francisco MLS
• 2012-03-21 Listed $260,983 San Francisco MLS

Property tax history

+1.1%/yr

Latest (2025): $4,841 · +2.9% YoY. Source: county tax records.