874 Isabella St · Oakland, CA 94607

$649,000

16 bd · 16.0 ba · 2,861 sqft · MultiFamily public records · 156 Days on market

Built 1885 6,960 sqft lot $227/sqft · 23% below area Est $846k · 23% 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
• 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 (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Rare value-add opportunity with 50% vacancy in a Victorian fourplex situated on a large gated lot offering 10+ on-site parking spaces—a true rarity in Oakland. This character-rich property blends classic Victorian architecture with substantial upside through vacancy leasing and unit improvements. Two units are currently vacant, allowing for immediate repositioning, while two units are occupied by long-term, month-to-month tenants at below-market rents. The expansive lot, gated access, and abundant parking provide flexibility for future enhancements and strong tenant appeal. Well located near Downtown Oakland and major transportation corridors, this fourplex presents an excellent opportunity for investors or owner-users seeking character, scale, and long-term upside. Buyer to verify unit mix, square footage, parking count, and rent regulations.

Key facts

• Victorian fourplex
• Vacant units
• Large gated lot

Tags

• VICTORIAN FOURPLEX
• LARGE GATED LOT
• ON-SITE PARKING SPACES
• VACANT UNITS
• DOWNTOWN OAKLAND
• MAJOR TRANSPORTATION CORRIDORS

🏷️ Possibly a rental listed for sale. The $649,000 price doesn't fit this home's estimated sale value (~$845,801) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $649k.

Deal economics

• At list price, monthly cash flow is $8k ($100k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $649k).
• Recommended offer: $571k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.7% vs local median 2.5% 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 (+3.2%/yr); 135 active listings in the ZIP; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $15,720/mo this rent would consume 199% of the median local household income ($95k/yr) (locally 2002% 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 $19k 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 + 3.2% rent growth), your $182k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($571k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $571,120 (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. 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 1885 — 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: 2.42% ✓
• Cap rate: 21.67%
• Cash-on-cash: 54.91%
• DSCR: 3.44
• GRM: 3.4

CMA / ARV

• ARV (median comp): $845,801
• List price: $649,000
• Delta: -23.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: 53.4%
• Equity multiple: 3.36×
• Total profit: $428,258
• Equity at exit: $96,768

10-year hold

• IRR: 58.7%
• Equity multiple: 6.89×
• Total profit: $1,070,587
• Equity at exit: $56,114

Cash invested: $181,720 (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 94607

• Rents YoY: 3.2%
• Active inventory: 135
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $15,720 high
• Mortgage (P&I): −$3,403
• Tax from tax record: −$429 /mo · $5,154/yr
• Insurance: −$270
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,301
• Net cashflow: $8,315

Break-even live

Break-even rent $5,194

Max offer price $649,000

Occupancy floor 42%

Sensitivity live

Price	-10% $8,683	-5% $8,499	+0% $8,315	+5% $8,132	+10% $7,948
Rent	-10% $7,074	-5% $7,695	+0% $8,315	+5% $8,936	+10% $9,557
Rate	-1.0pp $8,642	-0.5pp $8,481	base $8,315	+0.5pp $8,147	+1.0pp $7,976

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$15,720
Total (4 units)			$15,720

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: $162,250
• Closing costs: $19,470
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $649,000 Active 156 DOM
2. 2026-06-18
   days on market $649,000 Active 153 DOM
3. 2026-06-17
   days on market $649,000 Active 152 DOM
4. 2026-06-16
   days on market $649,000 Active 151 DOM
5. 2026-06-15
   days on market $649,000 Active 150 DOM
6. 2026-06-13
   days on market $649,000 Active 148 DOM
7. 2026-06-13
   days on market $649,000 Active 147 DOM
8. 2026-06-09
   days on market $649,000 Active 144 DOM
9. 2026-06-08
   days on market $649,000 Active 143 DOM
10. 2026-06-07
    days on market $649,000 Active 142 DOM
11. 2026-06-04
    days on market $649,000 Active 139 DOM
12. 2026-06-03
    days on market $649,000 Active 138 DOM
13. 2026-06-02
    days on market $649,000 Active 137 DOM
14. 2026-06-01
    days on market $649,000 Active 136 DOM
15. 2026-05-31
    days on market $649,000 Active 135 DOM
16. 2026-01-16
    listed $649,000 Active 863-char remark

    Show marketing remark (863 chars)

    Rare value-add opportunity with 50% vacancy in a Victorian fourplex situated on a large gated lot offering 10+ on-site parking spaces—a true rarity in Oakland. This character-rich property blends classic Victorian architecture with substantial upside through vacancy leasing and unit improvements. Two units are currently vacant, allowing for immediate repositioning, while two units are occupied by long-term, month-to-month tenants at below-market rents. The expansive lot, gated access, and abundant parking provide flexibility for future enhancements and strong tenant appeal. Well located near Downtown Oakland and major transportation corridors, this fourplex presents an excellent opportunity for investors or owner-users seeking character, scale, and long-term upside. Buyer to verify unit mix, square footage, parking count, and rent regulations.

ⓘ 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: $5,154 · $429/mo
• Projected year-2 tax: $5,154 · $429/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 5/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥82°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: $188,640
• − Mortgage interest: −$36,354
• − Property taxes: −$5,154
• − Insurance: −$3,245
• − Repairs & maintenance: −$15,091
• − Management: −$15,091
• − Depreciation: −$18,880
• Taxable income: $94,825
• Est. tax owed @ 24.0%: −$22,758
• After-tax cash flow: $77,028/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): 28,804
• Household income: $94,863
• Rent vs Own: 69.9% rent · 30.1% own
• Severe rent burden: 2002.0

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 0.78)
• Race & ethnicity: Black 29% White 25% Asian 25% Hispanic / Latino 13% Two or more races 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 1% Romanian 1% Portuguese 1%
• Foreign-born: 28% · China, Canada, Vietnam
• Languages at home: 65% English-only · Chinese 16% Spanish 8% Arabic 2%

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: ▼ -170.49%
• Current HPI: 263.5885
• Rent YoY: ▲ 3.24%
• 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

1 event — show timeline

• 2026-01-16 Listed $649,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+5.2%/yr

Latest (2025): $5,154 · +6.1% YoY. Source: county tax records.