9251 International Blvd · Oakland, CA 94603

$650,000

2 bd · 4.0 ba · 3,106 sqft · MultiFamily public records · 156 Days on market

Built 1914 2,500 sqft lot $209/sqft · 16% below area Est $771k · 16% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +14.6/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

9251 International Blvd provides an opportunity to acquire a four-unit mixed-use asset with an additional income stream from an on-site billboard, creating flexibility and upside in a high-visibility Oakland location. Built in 1914, the property totals approximately 3,106 square feet on a 2,500-square-foot lot. The residential mix includes two two-bedroom/one-bath units and two studio units, with one studio currently vacant, allowing for immediate leaseup or repositioning. With its blend of unit types, built-in advertising income, and proximity to major transit corridors throughout East Oakland, 9251 International Blvd offers a practical path for renovation, stronger rents, and long-term value creation.

Key facts

• On-site billboard
• Mixed-use asset
• Path for renovation

Tags

• MIXED-USE ASSET
• ON-SITE BILLBOARD
• HIGH-VISIBILITY LOCATION
• MAJOR TRANSIT CORRIDORS
• PATH FOR RENOVATION
• STRONGER RENTS

What this means for you Summary

Snapshot

• This is a 2-bed/4.0-bath multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $650k).
• Recommended offer: $572k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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 (+1.6%/yr); 98 active listings in the ZIP; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $8,957/mo this rent would consume 140% of the median local household income ($77k/yr) (locally 2061% 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 $4k of loan paydown is wiped out by about $20k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $182k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y 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 $455k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $572,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.38% ✓
• Cap rate: 11.75%
• Cash-on-cash: 19.48%
• DSCR: 1.87
• GRM: 6.0

CMA / ARV

• ARV (median comp): $771,007
• List price: $650,000
• Delta: -15.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.39×
• Total profit: $70,094
• Equity at exit: $96,917

10-year hold

• IRR: 17.9%
• Equity multiple: 2.39×
• Total profit: $252,590
• Equity at exit: $56,200

Cash invested: $182,000 (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 94603

• Rents YoY: 1.6%
• Active inventory: 98
• Price-to-rent: 23.5×

Monthly cashflow live

• Estimated rent: $8,957 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$443 /mo · $5,312/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,881
• Net cashflow: $2,954

Break-even live

Break-even rent $5,218

Max offer price $650,000

Occupancy floor 62%

Sensitivity live

Price	-10% $3,322	-5% $3,138	+0% $2,954	+5% $2,770	+10% $2,586
Rent	-10% $2,246	-5% $2,600	+0% $2,954	+5% $3,308	+10% $3,661
Rate	-1.0pp $3,281	-0.5pp $3,119	base $2,954	+0.5pp $2,785	+1.0pp $2,614

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,608
▸ 2× units	1	1	$4,350
Total (4 units)			$8,957

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $650,000 Active 156 DOM
2. 2026-06-17
   days on market $650,000 Active 155 DOM
3. 2026-06-16
   days on market $650,000 Active 154 DOM
4. 2026-06-15
   days on market $650,000 Active 153 DOM
5. 2026-06-13
   days on market $650,000 Active 151 DOM
6. 2026-06-13
   days on market $650,000 Active 150 DOM
7. 2026-06-09
   days on market $650,000 Active 147 DOM
8. 2026-06-08
   days on market $650,000 Active 146 DOM
9. 2026-06-07
   days on market $650,000 Active 145 DOM
10. 2026-06-04
    days on market $650,000 Active 142 DOM
11. 2026-06-03
    days on market $650,000 Active 141 DOM
12. 2026-06-02
    days on market $650,000 Active 140 DOM
13. 2026-06-01
    days on market $650,000 Active 139 DOM
14. 2026-05-31
    days on market $650,000 Active 138 DOM
15. 2026-01-13
    listed $650,000 Active 712-char remark

    Show marketing remark (712 chars)

    9251 International Blvd provides an opportunity to acquire a four-unit mixed-use asset with an additional income stream from an on-site billboard, creating flexibility and upside in a high-visibility Oakland location. Built in 1914, the property totals approximately 3,106 square feet on a 2,500-square-foot lot. The residential mix includes two two-bedroom/one-bath units and two studio units, with one studio currently vacant, allowing for immediate leaseup or repositioning. With its blend of unit types, built-in advertising income, and proximity to major transit corridors throughout East Oakland, 9251 International Blvd offers a practical path for renovation, stronger rents, and long-term value creation.

16. 2019-01-18
    historical
17. 2019-01-18
    historical
18. 2019-01-18
    historical
19. 2017-11-01
    soldstatus $455,000 Sold
20. 2017-11-01
    soldstatus $455,000
21. 2017-11-01
    soldstatus $455,000
22. 2017-10-12
    status Pending
23. 2017-07-29
    listed $480,000 New
24. 2017-07-29
    listed $480,000
25. 2013-08-12
    listed $250,000
26. 2013-05-14
    listed $269,000
27. 2013-02-22
    listed $289,900
28. 2012-10-22
    soldstatus $180,000 Sold
29. 2012-09-01
    status Pending
30. 2012-08-09
    listed $173,900 New
31. 2011-11-23
    historical
32. 2011-11-23
    historical
33. 2002-07-16
    soldstatus $307,000

ⓘ 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: $5,312 · $443/mo
• Projected year-2 tax: $5,312 · $443/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $107,484
• − Mortgage interest: −$36,410
• − Property taxes: −$5,312
• − Insurance: −$3,250
• − Repairs & maintenance: −$8,599
• − Management: −$8,599
• − Depreciation: −$18,909
• Taxable income: $26,406
• Est. tax owed @ 24.0%: −$6,337
• After-tax cash flow: $29,109/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): 35,742
• Household income: $76,723
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2061.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 25% Two or more races 11% Asian 5% White 4% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 51%
• Foreign-born: 37% · Canada, China, Vietnam
• Languages at home: 37% English-only · Spanish 56% Other Asian/Pacific 2% Chinese 1%

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: ▼ -665.46%
• Current HPI: 396.0247
• Rent YoY: ▲ 1.58%
• 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

+111.7% since first listed

19 events — show timeline

• 2026-01-13 Listed $650,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-01-18 Listing Removed — SDMLS
• 2019-01-18 Listing Removed — SDMLS
• 2019-01-18 Listing Removed — SDMLS
• 2017-11-01 Sold (Public Records) $455,000 Public Records
• 2017-11-01 Sold (MLS) $455,000 SDMLS
• 2017-11-01 Sold (MLS) $455,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-10-12 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-07-29 Listed $480,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-07-29 Listed $480,000 SDMLS
• 2013-08-12 Listed $250,000 SDMLS
• 2013-05-14 Listed $269,000 SDMLS
• 2013-02-22 Listed $289,900 SDMLS
• 2012-10-22 Sold (MLS) $180,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2012-09-01 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2012-08-09 Listed $173,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2011-11-23 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2011-11-23 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2002-07-16 Sold (Public Records) $307,000 Public Records

Property tax history

-2.3%/yr

Latest (2011): $5,312 · +12.7% YoY. Source: county tax records.