1208 N Saint Marys Ct · Long Beach, CA 90813

$799,000

5 bd · 5.0 ba · 2,144 sqft · MultiFamily public records · 49 Days on market

Built 1923 3,242 sqft lot $373/sqft · 11% below area Est $901k · 11% 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 +19.0/30.0
• ARV discount +12.6/15.0
• DSCR +6.0/10.0
• 1% rule +4.2/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Excellent opportunity to acquire a value-add four-unit investment property in the highly desirable Downtown Long Beach submarket. This multi-unit asset offers strong in-place income with significant upside potential through renovation and rental repositioning. The property is currently generating approximately $58,500 in annual gross income, reflecting a current Gross Rent Multiplier (GRM) of 13.68 at the current list price and a cap rate of approximately 6.24%. These metrics position the asset as an attractive opportunity for investors seeking both immediate cash flow and long-term appreciation. With strategic improvements, investors have the ability to reposition the asset, increase rents

Key facts

• Waterfront access
• 3,242 sq ft lot
• Built 1923

Tags

• VALUE-ADD INVESTMENT PROPERTY
• STRONG IN-PLACE INCOME
• SIGNIFICANT UPSIDE POTENTIAL
• WATERFRONT ACCESS
• PUBLIC TRANSPORTATION ACCESS

Property features AI

Finance

• Other: Property is subject to rent control
• Financial info: Total of 4 residential units; Gross scheduled and operating income reported; Gross scheduled/operating income listed at $58,500; Gross spendable income listed at $52,500; Gross income listed at $40,000; Net operating income listed at $40,000; Total actual rent across units listed at $4,875; Individual unit rents reported: $1,050, $1,050, $1,300, $1,325; Operating expenses listed at $8,600 (including electric $3,000, water/sewer $3,100, insurance $1,500, trash $1,100); Three units currently leased; Separate meters: one water, one gas, one electric

Exterior

• Parking: Concrete driveway
• Utilities: Natural gas connected; Electricity connected (standard electric); Public/district water; Public sewer
• Home design: Attached multi-unit property; Two stories
• Construction: Frame and stucco construction; Flat roof; Single building containing all units; Built year sourced from assessor
• Exterior features: Corner lot; Fenced yard (fencing in poor condition); No pool; Sidewalks in the neighborhood

Interior

• Kitchen: Gas range; Central water heater and gas water heater
• Bedrooms: One unit with 3 bedrooms (unit-level info); One unit with 1 bedroom (unit-level info); Two additional units (studio/1-bedroom configurations inferred from unit counts)
• Flooring: Laminated flooring
• Bathrooms: Two-bath unit (unit-level info); Three units with one full bathroom each (unit-level info)
• Heating & cooling: Wall heaters
• Interior features: Two-level layout; Entry located on level 1
• Laundry & utility: Laundry available outside

What this means for you Summary

Snapshot

• This is a 5-bed/5.0-bath multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $830 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $733k (8.2% below list).
• Recommended offer: $733k (8.2% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 1.9% in Long Beach — 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 67/100 on livability (#319 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B+; Watch: health & safety C-, crime F, cost of living F.
• Long Beach Unified (urban): math 34% / reading 50% proficiency, ranked #216 of 517 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roosevelt Elementary (math 21%, 841 students, 76% FRL); Franklin Classical Middle (math 22% / reading 32%, grade F, #242 of 498 statewide, top 50%, 1,095 students, 76% FRL); Polytechnic High (math 54% / reading 72%, grade B-, #184 of 1,170 statewide, top 16%, 3,952 students, 54% FRL).
• Market conditions: Rents soft (-0.3%/yr); 83 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $7,333/mo this rent would consume 161% of the median local household income ($55k/yr) (locally 4941% 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 $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($775k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $17k; list at $799k implies a 4600% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $733,300 (8.2% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• GRM: 9.1

CMA / ARV

• ARV (median comp): $900,895
• List price: $799,000
• Delta: -11.31%
• 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
1567-1567 Elm	0.36mi	5/2.0	2,070 (-4%)	4mo	$725,000	$350	62
416 Lime	0.68mi	4/3.0 (-1)	2,204 (+3%)	1mo	$1,025,000	$465	50
920 Cerritos Ave	0.52mi	5/3.0	2,315 (+8%)	6mo	$985,000	$425	50
1069 Lime Ave	0.14mi	4/2.0 (-1)	2,366 (+10%)	12mo	$825,000	$349	49
1435 Pine Ave	0.44mi	4/4.0 (-1)	2,004 (-6%)	16mo	$1,130,000	$564	46
1239 N Loma Vista Dr	0.67mi	6/5.5 (+1)	2,186 (+2%)	16mo	$1,089,890	$499	45
855 Chestnut Ave	0.68mi	5/3.0	2,248 (+5%)	8mo	$760,000	$338	45
1039 E 10th St	0.40mi	4/2.0 (-1)	2,036 (-5%)	14mo	$875,000	$430	44
441 E 17th St	0.45mi	4/4.0 (-1)	1,943 (-9%)	13mo	$1,045,000	$538	44
1354 Orange Ave	0.57mi	4/3.0 (-1)	2,001 (-7%)	13mo	$820,000	$410	38
629 Olive Ave	0.52mi	4/4.0 (-1)	1,824 (-15%)	9mo	$1,050,000	$576	35
1847 Myrtle Ave	0.65mi	4/3.0 (-1)	2,050 (-4%)	22mo	$940,000	$459	31

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.56×
• Total profit: $-98,342
• Equity at exit: $119,133

10-year hold

• IRR: -8.3%
• Equity multiple: 0.55×
• Total profit: $-101,574
• Equity at exit: $69,083

Cash invested: $223,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90813

• Rents YoY: -0.3%
• Active inventory: 83
• Price-to-rent: 36.3×

Monthly cashflow live

• Estimated rent: $7,333 high
• Mortgage (P&I): −$4,190
• Tax from tax record: −$440 /mo · $5,283/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,540
• Net cashflow: $830

Break-even live

Break-even rent $6,283

Max offer price $799,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,282	-5% $1,056	+0% $830	+5% $604	+10% $378
Rent	-10% $251	-5% $540	+0% $830	+5% $1,119	+10% $1,409
Rate	-1.0pp $1,232	-0.5pp $1,033	base $830	+0.5pp $623	+1.0pp $412

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,332
Total (4 units)			$7,333

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1489 Atlantic Ave Long Beach, CA	5.0	3.5	1772	$4,295	$2.42	14d	1	0.24mi
435 Cerritos Ave Long Beach, CA	4.0	3.0	1856	$6,000	$3.23	7d	1	0.80mi
1740 Rose Ave #1742 Long Beach, CA	4.0	3.0	1700	$3,595	$2.11	26d	1	1.05mi
1957 San Francisco Ave Long Beach, CA	5.0	2.0	2000	$4,495	$2.25	0d	1	1.27mi
2068 San Francisco Ave Long Beach, CA	6.0	1.5	2022	$3,725	$1.84	26d	1	1.33mi

Listing history 20 events

1. 2026-06-21
   days on market $799,000 Active 49 DOM
2. 2026-06-18
   days on market $799,000 Active 46 DOM
3. 2026-06-17
   days on market $799,000 Active 45 DOM
4. 2026-06-16
   days on market $799,000 Active 44 DOM
5. 2026-06-15
   days on market $799,000 Active 43 DOM
6. 2026-06-13
   days on market $799,000 Active 41 DOM
7. 2026-06-13
   days on market $799,000 Active 40 DOM
8. 2026-06-09
   days on market $799,000 Active 37 DOM
9. 2026-06-08
   days on market $799,000 Active 36 DOM
10. 2026-06-07
    days on market $799,000 Active 35 DOM
11. 2026-06-04
    days on market $799,000 Active 32 DOM
12. 2026-06-03
    days on market $799,000 Active 31 DOM
13. 2026-06-02
    days on market $799,000 Active 30 DOM
14. 2026-06-01
    days on market $799,000 Active 29 DOM
15. 2026-05-31
    days on market $799,000 Active 28 DOM
16. 2026-05-03
    listed $799,000 Active 1901-char remark
17. 2013-10-20
    historical
18. 2013-05-08
    listed $480,000 Active
19. 1990-08-22
    soldstatus $17,000
20. 1986-12-09
    soldstatus $58,000

ⓘ 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: $5,283 · $440/mo
• Projected year-2 tax: $6,072 · $506/mo
• Expected delta: +$789/yr (+$66/mo · 14.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥88°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $87,996
• − Mortgage interest: −$44,756
• − Property taxes: −$5,283
• − Insurance: −$3,995
• − Repairs & maintenance: −$7,040
• − Management: −$7,040
• − Depreciation: −$23,244
• Taxable loss: −$3,362
• Est. tax savings @ 24.0%: +$807
• After-tax cash flow: $10,765/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: Long Beach Unified
• NCES district ID: 0622500
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $56,092
• Composite: 36.67/100
• National rank: #4607
• State rank: #216 of 517 in CA

Livability — Long Beach

• Score: 67/100
• State rank: #319
• US rank: #10758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, CA
• County: Los Angeles County · 9,444,647 people
• City population: 466,088
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 51,241
• Household income: $54,526
• Rent vs Own: 84.9% rent · 15.1% own
• Severe rent burden: 4941.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 64% Two or more races 13% Asian 12% Black 11% White 9% Native American 2%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Lithuanian 1% Serbian 1%
• Foreign-born: 36% · Canada, South Korea, Vietnam
• Languages at home: 33% English-only · Spanish 56% Other Asian/Pacific 6% Tagalog/Filipino 1%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -468.88%
• Current HPI: 480.8118
• Rent YoY: ▼ -0.34%
• Metro: Los Angeles-Long Beach-Anaheim, 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

+1277.6% since first listed

5 events — show timeline

• 2026-05-03 Listed $799,000 CRMLS
• 2013-10-20 Listing Removed — CRMLS
• 2013-05-08 Listed $480,000 CRMLS
• 1990-08-22 Sold (Public Records) $17,000 Public Records
• 1986-12-09 Sold (Public Records) $58,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $5,283 · +4.7% YoY. Source: county tax records.