400 Lagunitas · Oakland, CA 94610

$1,325,000

11 bd · 7.0 ba · 5,081 sqft · MultiFamily public records · 278 Days on market

Built 1915 6,200 sqft lot $261/sqft · at area comps Est $1349k · at est. ↓ 17% since listing

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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 +23.3/30.0
• ARV discount +8.3/15.0
• DSCR +7.5/10.0
• 1% rule +6.6/10.0
• 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 (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Outstanding value-add opportunity in Adams Point! This 8-unit converted mansion offers a mix of renovated units with significant upside through further improvements and ADU potential. Current 8.8% cap rate with a 11% market cap, delivering both strong cash flow and future returns. Ideally located near Lake Merritt, Uptown, and major retailers including Trader Joe’s, and Whole Foods, this is a rare chance to secure a high-performing multifamily asset in one of Oakland’s most desirable rental markets. Contract Broker for additional information.

Key facts

• Adu potential
• Strong cash flow
• Converted mansion

Tags

• CONVERTED MANSION
• RENOVATED UNITS
• ADU POTENTIAL
• STRONG CASH FLOW

What this means for you Summary

Snapshot

• This is a 8 × 1-bed/?-bath units multifamily listed at $1.32M.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $302/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.32M).
• Recommended offer: $1.17M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 (+3.3%/yr); 107 active listings in the ZIP; high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $15,307/mo this rent would consume 137% of the median local household income ($135k/yr) (locally 1614% 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

• It's been on market 278 days — a 12% lower offer ($1.17M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $175k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,166,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 278 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.16% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.81%
• DSCR: 1.35
• GRM: 7.2

CMA / ARV

• ARV (median comp): $1,348,591
• List price: $1,325,000
• Delta: -1.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.34% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-55,055
• Equity at exit: $197,562

10-year hold

• IRR: 6.2%
• Equity multiple: 1.47×
• Total profit: $174,109
• Equity at exit: $114,562

Cash invested: $371,000 (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 94610

• Rents YoY: 3.3%
• Active inventory: 107
• Price-to-rent: 57.7×

Monthly cashflow live

• Estimated rent: $15,307 high
• Mortgage (P&I): −$6,948
• Tax from tax record: −$2,176 /mo · $26,118/yr
• Insurance: −$552
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,214
• Net cashflow: $2,416

Break-even live

Break-even rent $12,249

Max offer price $1,325,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	—	$15,304
Total (8 units)			$15,307

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: $331,250
• Closing costs: $39,750
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $1,325,000 Active 278 DOM
2. 2026-06-17
   days on market $1,325,000 Active 277 DOM
3. 2026-06-16
   days on market $1,325,000 Active 276 DOM
4. 2026-06-15
   days on market $1,325,000 Active 275 DOM
5. 2026-06-13
   days on market $1,325,000 Active 273 DOM
6. 2026-06-13
   days on market $1,325,000 Active 272 DOM
7. 2026-06-09
   days on market $1,325,000 Active 269 DOM
8. 2026-06-08
   days on market $1,325,000 Active 268 DOM
9. 2026-06-07
   days on market $1,325,000 Active 267 DOM
10. 2026-06-04
    days on market $1,325,000 Active 264 DOM
11. 2026-06-03
    days on market $1,325,000 Active 263 DOM
12. 2026-06-02
    days on market $1,325,000 Active 262 DOM
13. 2026-06-01
    days on market $1,325,000 Active 261 DOM
14. 2026-05-31
    days on market $1,325,000 Active 260 DOM
15. 2026-03-16
    price $1,325,000 560-char remark

    Show marketing remark (560 chars)

    Outstanding value-add opportunity in Adams Point! This 8-unit converted mansion offers a mix of renovated units with significant upside through further improvements and ADU potential. Current 8.8% cap rate with a 11% market cap, delivering both strong cash flow and future returns. Ideally located near Lake Merritt, Uptown, and major retailers including Trader Joe’s, and Whole Foods, this is a rare chance to secure a high-performing multifamily asset in one of Oakland’s most desirable rental markets. Contract Broker for additional information.

16. 2026-03-16
    price $1,325,000 560-char remark

    Show marketing remark (560 chars)

    Outstanding value-add opportunity in Adams Point! This 8-unit converted mansion offers a mix of renovated units with significant upside through further improvements and ADU potential. Current 8.8% cap rate with a 11% market cap, delivering both strong cash flow and future returns. Ideally located near Lake Merritt, Uptown, and major retailers including Trader Joe’s, and Whole Foods, this is a rare chance to secure a high-performing multifamily asset in one of Oakland’s most desirable rental markets. Contract Broker for additional information.

17. 2026-01-29
    price $1,400,000 560-char remark

    Show marketing remark (560 chars)

    Outstanding value-add opportunity in Adams Point! This 8-unit converted mansion offers a mix of renovated units with significant upside through further improvements and ADU potential. Current 8.8% cap rate with a 11% market cap, delivering both strong cash flow and future returns. Ideally located near Lake Merritt, Uptown, and major retailers including Trader Joe’s, and Whole Foods, this is a rare chance to secure a high-performing multifamily asset in one of Oakland’s most desirable rental markets. Contract Broker for additional information.

18. 2026-01-29
    price $1,400,000 560-char remark

    Show marketing remark (560 chars)

    Outstanding value-add opportunity in Adams Point! This 8-unit converted mansion offers a mix of renovated units with significant upside through further improvements and ADU potential. Current 8.8% cap rate with a 11% market cap, delivering both strong cash flow and future returns. Ideally located near Lake Merritt, Uptown, and major retailers including Trader Joe’s, and Whole Foods, this is a rare chance to secure a high-performing multifamily asset in one of Oakland’s most desirable rental markets. Contract Broker for additional information.

19. 2025-09-13
    listed $1,500,000 Active 560-char remark

    Show marketing remark (560 chars)

    Outstanding value-add opportunity in Adams Point! This 8-unit converted mansion offers a mix of renovated units with significant upside through further improvements and ADU potential. Current 8.8% cap rate with a 11% market cap, delivering both strong cash flow and future returns. Ideally located near Lake Merritt, Uptown, and major retailers including Trader Joe’s, and Whole Foods, this is a rare chance to secure a high-performing multifamily asset in one of Oakland’s most desirable rental markets. Contract Broker for additional information.

20. 2025-09-10
    listed $1,500,000 Active 560-char remark

    Show marketing remark (560 chars)

    Outstanding value-add opportunity in Adams Point! This 8-unit converted mansion offers a mix of renovated units with significant upside through further improvements and ADU potential. Current 8.8% cap rate with a 11% market cap, delivering both strong cash flow and future returns. Ideally located near Lake Merritt, Uptown, and major retailers including Trader Joe’s, and Whole Foods, this is a rare chance to secure a high-performing multifamily asset in one of Oakland’s most desirable rental markets. Contract Broker for additional information.

21. 2021-06-03
    soldstatus $1,465,000
22. 2021-06-03
    soldstatus $1,465,000
23. 2020-07-16
    listed $1,595,000

ⓘ 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: $26,118 · $2,176/mo
• Projected year-2 tax: $26,118 · $2,176/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 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: $183,684
• − Mortgage interest: −$74,221
• − Property taxes: −$26,118
• − Insurance: −$6,625
• − Repairs & maintenance: −$14,695
• − Management: −$14,695
• − Depreciation: −$38,545
• Taxable income: $8,786
• Est. tax owed @ 24.0%: −$2,109
• After-tax cash flow: $26,878/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): 32,628
• Household income: $134,507
• Rent vs Own: 62.0% rent · 38.0% own
• Severe rent burden: 1614.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 50% Asian 17% Black 13% Two or more races 13% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 18% · China, Canada, Vietnam
• Languages at home: 77% English-only · Spanish 7% Chinese 4% Other Asian/Pacific 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: ▼ -1222.50%
• Current HPI: 290.482
• Rent YoY: ▲ 3.34%
• 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

-16.9% since first listed

9 events — show timeline

• 2026-03-16 Price Changed $1,325,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-03-16 Price Changed $1,325,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-01-29 Price Changed $1,400,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-01-29 Price Changed $1,400,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-09-13 Listed $1,500,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-09-10 Listed $1,500,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-06-03 Sold (Public Records) $1,465,000 Public Records
• 2021-06-03 Sold (MLS) $1,465,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-07-16 Listed $1,595,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+11.6%/yr

Latest (2025): $26,118 · +4.2% YoY. Source: county tax records.