905 E 24th St · Oakland, CA 94606

$879,000

8 bd · 4.0 ba · 3,211 sqft · MultiFamily public records · 22 Days on market

Built 1966 4,850 sqft lot $274/sqft · 21% below area Est $1107k · 21% 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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.1/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• 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: 4 units. confirmed

Listing remarks

Fantastic value-add opportunity in Oakland's desirable Bella Vista neighborhood! This 4-unit quadplex sits on a 4,850 sq. ft. lot with 3,211 sq. ft. of total living space featuring a great unit mix — one 3BD/1BA, two 2BD/1BA, and one 1BD/1BA. Kitchens and baths have already been updated, so just a little TLC stands between you and maximized returns. Garage parking for 4 vehicles plus 4 additional driveway spaces — parking for everyone, a true Oakland rarity. On-site laundry room adds convenience tenants love and extra value. Live in one unit while the others help pay your mortgage, or add this gem to your growing portfolio. Strong rental demand, transit-rich location near Lake M

Key facts

• On-site laundry room
• 4,850 sq ft lot
• Garage

Tags

• EAST LAKE NEIGHBORHOOD
• UPDATED KITCHENS AND BATHS
• GARAGE PARKING FOR 4 VEHICLES
• ON-SITE LAUNDRY ROOM
• TRANSIT-RICH LOCATION
• NEAR LAKE MERRITT BART

Property features AI

Exterior

• Parking: Attached garage (total 8 parking spaces)
• Utilities: Public water; Public sewer
• Home design: Residential income property (quadruplex); Built in 1966
• Construction: Stucco construction
• Exterior features: Corner lot; Landscaped

Interior

• Bedrooms: 4 units total
• Flooring: Laminate; Linoleum; Partial carpeting; Carpet
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Wall furnaces; Ceiling fans; No central air conditioning
• Interior features: Laundry room; Balcony/patio; No yard
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $879k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $391/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $879k).
• Recommended offer: $866k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 (+1.9%/yr); 127 active listings in the ZIP; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $8,881/mo this rent would consume 147% of the median local household income ($72k/yr) (locally 3757% 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 $26k 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 22 days — a 2% lower offer ($866k) is reasonable based on typical stale-listing flexibility.

Recommended offer $865,815 (1.5% 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 1966 — 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. 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?
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 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: 1.01% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

• ARV (median comp): $1,107,128
• List price: $879,000
• Delta: -20.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
905 E 24th St	0.00mi	8/4.0	3,211 (0%)	0mo	$1,115,000	$347	100
1138 E 15th St	0.61mi	8/4.0	2,972 (-7%)	9mo	$950,000	$320	52
1625 4th Ave	0.62mi	7/4.0 (-1)	2,946 (-8%)	14mo	$1,165,000	$395	41

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 · 1.86% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-53,043
• Equity at exit: $131,062

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $40,802
• Equity at exit: $76,000

Cash invested: $246,120 (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 94606

• Rents YoY: 1.9%
• Active inventory: 127
• Price-to-rent: 33.0×

Monthly cashflow live

• Estimated rent: $8,881 high
• Mortgage (P&I): −$4,610
• Tax from tax record: −$475 /mo · $5,695/yr
• Insurance: −$366
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,865
• Net cashflow: $1,566

Break-even live

Break-even rent $6,899

Max offer price $879,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$8,880
Total (4 units)			$8,881

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: $219,750
• Closing costs: $26,370
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-05
   listed $879,000 Active 891-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: $5,695 · $475/mo
• Projected year-2 tax: $6,680 · $557/mo
• Expected delta: +$986/yr (+$82/mo · 17.3%)

ⓘ 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 7 d/yr ≥84°F today · 15 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: $106,572
• − Mortgage interest: −$49,238
• − Property taxes: −$5,695
• − Insurance: −$4,395
• − Repairs & maintenance: −$8,526
• − Management: −$8,526
• − Depreciation: −$25,571
• Taxable income: $4,622
• Est. tax owed @ 24.0%: −$1,109
• After-tax cash flow: $17,678/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): 39,966
• Household income: $72,470
• Rent vs Own: 79.8% rent · 20.2% own
• Severe rent burden: 3757.0

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 0.77)
• Race & ethnicity: Asian 32% Hispanic / Latino 25% White 20% Black 16% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 38% · Canada, Vietnam, China
• Languages at home: 47% English-only · Spanish 19% Chinese 14% Vietnamese 7%

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: ▼ -798.52%
• Current HPI: 334.5111
• Rent YoY: ▲ 1.86%
• 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

+26.8% since first listed

3 events — show timeline

• 2026-06-17 Sold (MLS) $1,115,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-26 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-05 Listed $879,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+0.3%/yr

Latest (2025): $5,695 · +5.8% YoY. Source: county tax records.