74 New Montgomery St #303 · San Francisco, CA 94105

$345,950

1 bd · 1.0 ba · 672 sqft · Condo public records · 44 Days on market

Built 1914 $515/sqft · 48% below area Est $666k · 48% under $1170/mo HOA · 28% of rent

---

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).

• ARV discount +15.0/15.0
• Cash flow +11.1/30.0
• Appreciation +7.1/10.0
• 1% rule +7.0/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0

Listing remarks

1 bedroom/1 bathroom Below Market Rate (BMR) housing opportunity available at 100% Area Median Income (AMI). Maximum income for 1 people = $109,100; 2 people = $124,700; 3 = $140,250; 4 = $155,850; 5 = $168,300 etc. Must be 1st-time homebuyer & income eligible. Unit available through the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. Full-service building amenities include 24-hour security, panoramic rooftop deck with BBQ, and bike storage. Unit will be listed on DAHLIA, the SF Housing Portal (https://housing. sfgov. org) starting on the application date 5-6-2026. Visit https://housing. sfgov.org f

Key facts

• 24-hour security
• Bike storage
• $1,170 HOA

Tags

• 24-HOUR SECURITY
• PANORAMIC ROOFTOP DECK
• BIKE STORAGE

Property features AI

Finance

• Other: Green energy efficient appliances included
• HOA & community: Homeowners association with monthly fee; Association fee covers common areas, door person, insurance on structure, structure maintenance, grounds maintenance, management, security, trash, and water; Association amenities include barbecue and roof deck; Community contains 110 units

Exterior

• Parking: Property attached
• Security: Carbon monoxide detector(s); Fire alarm; Smoke detector(s)
• Utilities: Public water; Public sewer; 220 volts in laundry
• Home design: Condominium (residential); One level; Entry level: 0; Built in 1914; Original condition
• Construction: Cement roof
• Exterior features: Deck; Window coverings; Unit above and unit below entry configuration

Interior

• Kitchen: Dishwasher; Disposal; Free‑standing electric oven; Gas cooktop; Free‑standing refrigerator; Microwave
• Bedrooms: 1 bedroom
• Flooring: Simulated wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace (heating); No cooling
• Interior features: Wall furnace heating; No central cooling; Simulated wood flooring; Carbon monoxide detector, fire alarm, and smoke detectors
• Laundry & utility: Stacked washer/dryer; 220V in laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $346k.

Deal economics

• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (7.1% below list).
• Meets the 1% rule at list price ($4k rent vs $346k).
• Recommended offer: $321k (7.1% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 2.1% in San Francisco — 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 76/100 on livability (#90 in CA, #3,143 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• San Francisco Unified (urban): math 50% / reading 56% proficiency, ranked #322 of 1,400 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+19.7%/yr); 120 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (4.3% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($336k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent; built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $321,266 (7.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 1.20% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• GRM: 6.9

CMA / ARV

• ARV (median comp): $665,903
• List price: $345,950
• Delta: -48.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

4.27% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.9%
• Equity multiple: 1.82×
• Total profit: $79,218
• Equity at exit: $180,858

10-year hold

• IRR: 17.1%
• Equity multiple: 4.19×
• Total profit: $308,603
• Equity at exit: $300,245

Cash invested: $96,866 (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 San Francisco: 0 Strongly Tenant-Friendly · D+57

SF Rent Ordinance + Eviction Protections; relocation $10k+; one of strictest in US.

Methodology + full state rankings →

ZIP-level market 94105

• Home prices YoY: 2.4%
• Rents YoY: 19.7%
• Active inventory: 120
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $4,155 high
• Mortgage (P&I): −$1,814
• Tax from tax record: −$294 /mo · $3,531/yr
• Insurance: −$144
• HOA: −$1,170
• Vacancy / Maint / Mgmt: −$873
• Net cashflow: $-140

Break-even live

Break-even rent $4,332

Max offer price $321,266

Occupancy floor 98%

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: $86,488
• Closing costs: $10,378
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39 Tehama St San Francisco, CA	1.0–2.0	1.0–2.0	1291	$4,760	$3.69	2d	14	0.26mi
500 Folsom St San Francisco, CA	1.0	1.0	676	$6,947	$10.28	2d	18	0.33mi
1 St Francis Pl San Francisco, CA	3.0	1.0–2.0	923	$4,345	$4.71	2d	2	0.37mi
540 Stockton St Apt 8 San Francisco, CA	2.0	1.0	725	$5,370	$7.41	2d	1	0.39mi
535 Stockton St San Francisco, CA	—	1.0	394	$2,295	$5.82	43d	1	0.41mi
45 Lansing St San Francisco, CA	1.0	1.0	640	$5,260	$8.21	1d	4	0.42mi
390 1st St San Francisco, CA	2.0	1.0–2.0	676	$5,814	$8.60	2d	11	0.43mi
333 Fremont St San Francisco, CA	1.0–2.0	1.0–2.0	937	$4,588	$4.90	2d	6	0.45mi
340 Fremont St San Francisco, CA	3.0	1.0–3.0	1146	$5,697	$4.97	1d	5	0.45mi
821 Folsom St #401 San Francisco, CA	1.0	1.0	652	$3,650	$5.60	24d	1	0.46mi
655 Stockton St San Francisco, CA	—	1.0	354	$3,720	$10.51	2d	2	0.46mi
829 Folsom St #408 San Francisco, CA	—	1.0	495	$2,860	$5.78	15d	1	0.47mi
737 Bush St San Francisco, CA	1.0	1.0	750	$2,595	$3.46	15d	1	0.48mi
399 Fremont St San Francisco, CA	2.0	1.0–2.5	1077	$7,300	$6.77	1d	43	0.48mi
707 Stockton St San Francisco, CA	—	1.0	400	$2,775	$6.94	3d	1	0.48mi
845 California St San Francisco, CA	1.0	1.0	476	$4,995	$10.49	7d	3	0.48mi
776 Bush St San Francisco, CA	—	1.0	400	$1,900	$4.75	43d	1	0.52mi
88 Howard St San Francisco, CA	1.0	1.0	588	$4,950	$8.41	5d	10	0.53mi
400 Clementina St #1449 San Francisco, CA	1.0–2.0	1.0–2.0	775	$3,970	$5.12	1d	2	0.54mi
434 Minna St San Francisco, CA	2.0	1.0–2.0	719	$5,246	$7.29	1d	15	0.55mi
201 Harrison St Unit 3A San Francisco, CA	1.0	1.0	572	$1,900	$3.32	21d	1	0.57mi
900 Folsom St San Francisco, CA	2.0	1.0–2.0	863	$5,020	$5.82	2d	24	0.57mi
960 Market St San Francisco, CA	1.0	1.0	613	$4,295	$7.01	21d	1	0.58mi
929 Pine St San Francisco, CA	—	1.0	400	$2,150	$5.38	7d	1	0.58mi
555 Bryant St San Francisco, CA	2.0	1.0–2.0	687	$5,220	$7.60	1d	10	0.60mi
555 Taylor St San Francisco, CA	—	1.0	477	$2,200	$4.61	43d	1	0.60mi
501 Delancey St #182 San Francisco, CA	1.0	1.0	640	$3,200	$5.00	15d	1	0.60mi
701 Taylor St San Francisco, CA	—	1.0	423	$2,875	$6.80	2d	1	0.62mi
3 Bayside Village Pl San Francisco, CA	1.0	1.0	599	$4,964	$8.28	1d	22	0.62mi
950 Pine St San Francisco, CA	—	1.0	750	$2,650	$3.53	16d	1	0.62mi
460 Davis Ct San Francisco, CA	3.0	1.0–2.5	907	$6,040	$6.66	2d	17	0.63mi
947 Bush St San Francisco, CA	1.0	1.0	390	$3,810	$9.76	2d	3	0.65mi
620 Jones St San Francisco, CA	—	1.0	400	$1,650	$4.12	24d	1	0.66mi
38 Bryant St #806 San Francisco, CA	1.0	1.0	582	$3,995	$6.86	43d	1	0.67mi
1028 Market St San Francisco, CA	2.0	1.0	526	$4,090	$7.77	1d	6	0.70mi
639 Geary St San Francisco, CA	—	1.0	453	$2,606	$5.75	3d	10	0.70mi
570 Jessie St San Francisco, CA	—	1.0	430	$2,495	$5.80	2d	1	0.71mi
737 Post St San Francisco, CA	2.0	1.0–2.0	515	$3,882	$7.53	2d	11	0.72mi
545 Ofarrell St San Francisco, CA	—	1.0	400	$2,000	$5.00	43d	1	0.72mi
845 Sutter St San Francisco, CA	1.0	1.0	700	$2,895	$4.14	14d	1	0.72mi

HOA detail condo

• Monthly dues: $1,170 · $14,040/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $345,950 Active 44 DOM
2. 2026-06-17
   days on market $345,950 Active 43 DOM
3. 2026-06-16
   days on market $345,950 Active 42 DOM
4. 2026-06-15
   days on market $345,950 Active 41 DOM
5. 2026-06-13
   days on market $345,950 Active 39 DOM
6. 2026-06-13
   days on market $345,950 Active 38 DOM
7. 2026-06-09
   days on market $345,950 Active 35 DOM
8. 2026-06-08
   days on market $345,950 Active 34 DOM
9. 2026-06-07
   days on market $345,950 Active 33 DOM
10. 2026-06-04
    days on market $345,950 Active 30 DOM
11. 2026-06-03
    days on market $345,950 Active 29 DOM
12. 2026-06-02
    days on market $345,950 Active 28 DOM
13. 2026-06-01
    days on market $345,950 Active 27 DOM
14. 2026-05-31
    days on market $345,950 Active 26 DOM
15. 2026-05-05
    listed $345,950 Active 928-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: $3,531 · $294/mo
• Projected year-2 tax: $3,531 · $294/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 ≥79°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,866
• − Mortgage interest: −$19,379
• − Property taxes: −$3,531
• − Insurance: −$1,730
• − Repairs & maintenance: −$3,989
• − Management: −$3,989
• − HOA: −$14,040
• − Depreciation: −$10,064
• Taxable loss: −$6,856
• Est. tax savings @ 24.0%: +$1,645
• After-tax cash flow: $-31/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: San Francisco Unified
• NCES district ID: 0634410
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $81,249
• Composite: 50.14/100
• National rank: #4088
• State rank: #322 of 1400 in CA

Livability — San Francisco

• Score: 76/100
• State rank: #90
• US rank: #3143

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: San Francisco, CA
• County: San Francisco County · 827,552 people
• City population: 827,552
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 13,861
• Household income: $225,000
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 798.0

Population outlook (San Francisco County) Hauer SSP2

• Today (2025): 1,030,936 people
• By 2030: 1,110,409 · +7.7%
• By 2040: 1,270,010 · +23.2%
• By 2050: 1,435,001 · +39.2%
• By 2075: 1,779,074 · +72.6%
• By 2100: 1,966,767 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Asian 53% White 31% Hispanic / Latino 9% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 4% Scotch-Irish 2% Romanian 2%
• Foreign-born: 45% · China, Canada, South Korea
• Languages at home: 52% English-only · Chinese 22% Other Indo-European 6% Spanish 6%

Political lean MEDSL · San Francisco

• 2024 margin: Solid D (+64.8) · D 80.3% · R 15.5% · Other 4.1%
• 2008→2024 swing: -5.7pp toward R · 2008: 70.5pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+72.5 2016: D+76.1 2012: D+70.2 2008: D+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.27%
• Current HPI: 179.3791
• Rent YoY: ▲ 19.74%
• 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

• 2026-05-05 Listed $345,950 San Francisco MLS

Property tax history

+4.2%/yr

Latest (2025): $3,531 · +2.9% YoY. Source: county tax records.