221 Sonora St · Stockton, CA 95203

$750,000

None bd · 81.0 ba · 7,224 sqft · MultiFamily public records · 59 Days on market

Built 1900 6,948 sqft lot $104/sqft · 35% below area Est $1154k · 35% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• 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: 10 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

PDF is pleased to present this 10 unit multifamily apartment complex located at 221 E Sonora Street in Stockton, CA. The property consists of 9 one bedroom one bathroom units and 1 studio unit. All tenants are currently month to month, allowing for immediate repositioning of rents and interior upgrades. Current rents are well below market, creating a strong value add opportunity and clear pathway for increased revenue. Located near Downtown Stockton with convenient access to I 5 and Hwy 99, the property benefits from proximity to major employment centers, shopping, dining, public transit, and daily services. This location supports long term occupancy and solid leasing demand. This asse

Key facts

• Cash flow today
• Solid leasing demand
• 6,948 sq ft lot

Tags

• MULTIFAMILY APARTMENT COMPLEX
• VALUE ADD OPPORTUNITY
• SOLID LEASING DEMAND
• CASH FLOW TODAY

🏷️ Possibly a rental listed for sale. The $750,000 price doesn't fit this home's estimated sale value (~$1,153,548) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $5k ($60k/yr) — positive. Per door: $503/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $750k).
• Recommended offer: $728k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 3.6% in Stockton — 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 57/100 on livability (#734 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, health & safety A, amenities A-; Watch: employment C-, schools D-, crime F.
• Stockton Unified (urban): math 23% / reading 46% proficiency, ranked #295 of 517 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 66 active listings in the ZIP; 3,779 units permitted in San Joaquin County in 2024 (0 in 5+ unit buildings).
• At $12,203/mo this rent would consume 231% of the median local household income ($63k/yr) (locally 1034% 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 $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• San Joaquin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $210k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($728k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $727,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.63% ✓
• Cap rate: 14.35%
• Cash-on-cash: 28.76%
• DSCR: 2.28
• GRM: 5.1

CMA / ARV

• ARV (median comp): $1,153,548
• List price: $750,000
• Delta: -34.98%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 E Oak St	0.68mi	1/1.0	7,395 (+2%)	23mo	$355,000	$48	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.1%
• Equity multiple: 1.95×
• Total profit: $198,886
• Equity at exit: $111,827

10-year hold

• IRR: 31.0%
• Equity multiple: 3.79×
• Total profit: $585,306
• Equity at exit: $64,846

Cash invested: $210,000 (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 95203

• Active inventory: 66
• Price-to-rent: 51.2×

Monthly cashflow live

• Estimated rent: $12,203 high
• Mortgage (P&I): −$3,933
• Tax from tax record: −$361 /mo · $4,335/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,563
• Net cashflow: $5,034

Break-even live

Break-even rent $5,831

Max offer price $750,000

Occupancy floor 54%

Sensitivity live

Price	-10% $5,458	-5% $5,246	+0% $5,034	+5% $4,821	+10% $4,609
Rent	-10% $4,070	-5% $4,552	+0% $5,034	+5% $5,516	+10% $5,998
Rate	-1.0pp $5,411	-0.5pp $5,224	base $5,034	+0.5pp $4,839	+1.0pp $4,641

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

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$12,200
Total (10 units)			$12,203

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $750,000 Active 59 DOM
2. 2026-06-18
   days on market $750,000 Active 56 DOM
3. 2026-06-17
   days on market $750,000 Active 55 DOM
4. 2026-06-16
   days on market $750,000 Active 54 DOM
5. 2026-06-15
   days on market $750,000 Active 53 DOM
6. 2026-06-14
   days on market $750,000 Active 51 DOM
7. 2026-06-10
   pricedays on market $750,000 Active 48 DOM
8. 2026-06-09
   days on market $900,000 Active 47 DOM
9. 2026-06-08
   days on market $900,000 Active 46 DOM
10. 2026-06-07
    days on market $900,000 Active 45 DOM
11. 2026-06-05
    days on market $900,000 Active 42 DOM
12. 2026-06-03
    days on market $900,000 Active 41 DOM
13. 2026-06-03
    days on market $900,000 Active 40 DOM
14. 2026-06-01
    days on market $900,000 Active 39 DOM
15. 2026-05-31
    days on market $900,000 Active 38 DOM

ⓘ 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: $4,335 · $361/mo
• Projected year-2 tax: $5,700 · $475/mo
• Expected delta: +$1,365/yr (+$114/mo · 31.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 25 unhealthy d/yr today · 26 by 30 yrs out

Taxation est. · year 1

• Rental income: $146,436
• − Mortgage interest: −$42,012
• − Property taxes: −$4,335
• − Insurance: −$3,750
• − Repairs & maintenance: −$11,715
• − Management: −$11,715
• − Depreciation: −$21,818
• Taxable income: $51,091
• Est. tax owed @ 24.0%: −$12,262
• After-tax cash flow: $48,141/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: Stockton Unified
• NCES district ID: 0638010
• Math proficiency: 23% ▲ 2.00%
• Reading proficiency: 46% ▲ 16.00%
• Median HH income: $37,563
• Composite: 28.65/100
• National rank: #6701
• State rank: #295 of 517 in CA

Livability — Stockton

• Score: 57/100
• State rank: #734
• US rank: #21638

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stockton, CA
• County: San Joaquin County · 729,570 people
• City population: 332,006
• Metro: Stockton, CA
• Population (ZIP): 15,930
• Household income: $63,411
• Rent vs Own: 57.0% rent · 43.0% own
• Severe rent burden: 1034.0

Population outlook (San Joaquin County) Hauer SSP2

• Today (2025): 796,965 people
• By 2030: 828,849 · +4.0%
• By 2040: 885,611 · +11.1%
• By 2050: 929,798 · +16.7%
• By 2075: 994,578 · +24.8%
• By 2100: 971,291 · +21.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Hispanic / Latino 58% White 17% Two or more races 14% Asian 10% Black 9% Native American 5%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Serbian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, China
• Languages at home: 54% English-only · Spanish 38% Other Asian/Pacific 4% Tagalog/Filipino 2%

Political lean MEDSL · San Joaquin

• 2024 margin: Toss-up / Even · D 48.0% · R 48.9% · Other 3.0%
• 2008→2024 swing: -11.6pp toward R · 2008: 10.7pp · 2024: -0.9pp
• All cycles: 2024: R+0.9 2020: D+13.9 2016: D+12.9 2012: D+8.9 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -342.07%
• Current HPI: 455.9551
• Rent YoY: —
• Metro: Stockton, 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

Property tax history

+1.7%/yr

Latest (2025): $4,335 · +2.0% YoY. Source: county tax records.