900 North Point St #312 · San Francisco, CA 94109

$89,000

2 bd · 2.0 ba · 1,132 sqft · SingleFamily · 143 Days on market

Built 2008 2.61 ac lot $79/sqft · 93% below area $1450/mo HOA · 24% of rent ↓ 6% 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Experience the exceptional privilege of 1/10th fractional ownership at Fairmont Heritage Place Ghirardelli Square, where the comfort of home meets the luxury of urban living, San Francisco-style. Starting at your arrival, with valet service available to park your car in the owner parking garage. This stunning 2 bedroom, 2 bathroom fully furnished unit features a fully equipped kitchen, which can be stocked with your favorite items by the Owner Services team, a living roomwith fireplace, Unwind in spa-like bathroom and enjoy the convenience of an in-room washer and dryer. Enjoy weekly Wine and Cheese Hour in the Owner's Lounge, relax outdoors on numerous terraces with firepits, and get to know fellow owners at special Events. This is a 1/10th floating fractional interest which entitles the owner the right to use any 2 BR unit, subject to availability. Ownership at Fairmont Heritage Place Ghirardelli Square offers 5 weeks (35 nights) of occupancy yearly. You may use the 5 weeks at Ghirardelli Square or use some of your time traveling around the globe to other Fairmont, Raffles and Accor properties worldwide. Fractional ownership includes the elite Accor Diamond Membership and exchange privileges with the Registry Collection.

Key facts

• Valet service
• Spa-like bathroom
• Owner parking garage

Tags

• VALET SERVICE
• OWNER PARKING GARAGE
• FULLY EQUIPPED KITCHEN
• LIVING ROOM WITH FIREPLACE
• SPA-LIKE BATHROOM
• IN-ROOM WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 42.6% 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 (+15.6%/yr); 155 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $6,020/mo this rent would consume 68% of the median local household income ($106k/yr) (locally 5272% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($615 loan paydown + $4k appreciation (5.0% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 6.76% ✓
• Cap rate: 42.58%
• Cash-on-cash: 129.59%
• DSCR: 6.77
• GRM: 1.2

CMA / ARV

• ARV (median comp): $1,363,601
• List price: $89,000
• Delta: -93.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 North View Ct	0.12mi	3/1.5 (+1)	1,100 (-3%)	23mo	$488,000	$444	64
1444 Vallejo St #2	0.60mi	2/2.0	1,133 (+0%)	14mo	$1,170,000	$1,033	60
851 Lombard St #851	0.48mi	2/1.0	1,224 (+8%)	4mo	$763,375	$624	57
424 Francisco St	0.59mi	2/2.0	1,025 (-10%)	7mo	$965,000	$941	51
3110 Buchanan St	0.69mi	2/1.5	1,066 (-6%)	6mo	$1,980,000	$1,857	50
22 Morrell St	0.73mi	1/1.0 (-1)	1,068 (-6%)	1mo	$1,425,000	$1,334	46
1310-1314 Greenwich St #201	0.35mi	2/1.0	963 (-15%)	12mo	$950,000	$987	44
44 Lynch St	0.75mi	2/1.0	1,044 (-8%)	7mo	$1,408,888	$1,350	42
1274 Vallejo St	0.62mi	3/1.0 (+1)	1,265 (+12%)	18mo	$1,135,000	$897	28
896 Green St	0.69mi	3/2.0 (+1)	1,260 (+11%)	20mo	$1,575,000	$1,250	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.02% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.02×
• Total profit: $224,815
• Equity at exit: $50,550

10-year hold

• IRR: —
• Equity multiple: 25.46×
• Total profit: $609,613
• Equity at exit: $87,339

Cash invested: $24,920 (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 94109

• Home prices YoY: 2.9%
• Rents YoY: 15.6%
• Active inventory: 155
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $6,020 high
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$1,450
• Vacancy / Maint / Mgmt: −$1,264
• Net cashflow: $2,691

Break-even live

Break-even rent $2,614

Max offer price $89,000

Occupancy floor 50%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
990 Bay St San Francisco, CA	2.0	1.0	1035	$5,995	$5.79	24d	1	0.09mi
1305 Lombard St San Francisco, CA	2.0	2.0	1050	$8,995	$8.57	12d	1	0.32mi
1516 Lombard St San Francisco, CA	1.0	1.0	825	$4,500	$5.45	43d	1	0.38mi
1140 Greenwich St Unit 301 San Francisco, CA	1.0	1.0	1100	$3,500	$3.18	43d	1	0.40mi
1472 Filbert St San Francisco, CA	2.0	1.0	941	$7,895	$8.39	11d	1	0.43mi
1535 Chestnut St Unit 203 San Francisco, CA	2.0	2.0	1200	$6,195	$5.16	43d	1	0.44mi
71 Water St Unit 401 San Francisco, CA	2.0	1.0	763	$6,295	$8.25	43d	1	0.48mi
71 Water St Unit 101 San Francisco, CA	2.0	1.0	738	$5,850	$7.93	43d	1	0.48mi
71 Water St Unit 301 San Francisco, CA	2.0	1.0	763	$5,950	$7.80	43d	1	0.48mi
650 Chestnut St #104 San Francisco, CA	2.0	2.0	1080	$6,500	$6.02	7d	1	0.50mi
600 Chestnut St #301 San Francisco, CA	2.0	2.0	1098	$5,600	$5.10	43d	1	0.53mi
2233 Larkin St San Francisco, CA	2.0	1.0	1100	$6,200	$5.64	2d	1	0.53mi
1142 Green St Unit 1146 San Francisco, CA	2.0	1.0	1200	$4,795	$4.00	43d	1	0.57mi
33 Vandewater St #103 San Francisco, CA	2.0	2.0	950	$6,900	$7.26	18d	1	0.57mi
3322 Buchanan St San Francisco, CA	2.0	2.0	1271	$8,395	$6.61	21d	1	0.64mi
3322 Buchanan St San Francisco, CA	2.0	2.0	1030	$7,995	$7.76	3d	2	0.64mi
1808 Leavenworth St San Francisco, CA	3.0	1.0	1100	$6,475	$5.89	43d	1	0.65mi
2550 Gough St #6 San Francisco, CA	1.0	1.0	1009	$3,269	$3.24	43d	1	0.66mi
2211 Stockton St San Francisco, CA	2.0	1.0–2.0	647	$3,500	$5.41	43d	1	0.66mi
1750 Vallejo St Unit 402 San Francisco, CA	1.0	1.0	1000	$7,950	$7.95	16d	1	0.67mi
770 Filbert St Unit 3 San Francisco, CA	2.0	1.0	1050	$5,190	$4.94	43d	1	0.67mi
1690 Broadway San Francisco, CA	1.0–2.0	1.0	761	$6,995	$9.19	7d	2	0.71mi
1888 Green St San Francisco, CA	3.0	2.0	1455	$9,875	$6.79	43d	1	0.74mi
3575 Fillmore St Unit 206 San Francisco, CA	1.0	1.0	700	$3,995	$5.71	16d	1	0.81mi
1212 Pacific Ave Unit 3 San Francisco, CA	3.0	2.0	1000	$5,100	$5.10	5d	1	0.81mi
1860 Jackson St San Francisco, CA	1.0	1.0	1000	$5,495	$5.50	3d	1	0.85mi
90 Alhambra St San Francisco, CA	3.0	2.0	900	$8,695	$9.66	7d	1	0.85mi
1450 Washington St Unit 1450-07 San Francisco, CA	2.0	1.0	818	$6,500	$7.95	10d	1	0.89mi
2007 Pacific Ave Apt 6 San Francisco, CA	3.0	2.0	1131	$8,000	$7.07	16d	1	0.89mi
1369 Hyde St San Francisco, CA	3.0	1.0–2.0	1435	$6,695	$4.67	21d	1	0.91mi
2080 Gough St San Francisco, CA	2.0	2.0	1000	$7,495	$7.50	24d	1	0.94mi
1755 Van Ness Ave San Francisco, CA	1.0	1.0	884	$5,095	$5.76	3d	1	0.97mi
1755 Van Ness Ave San Francisco, CA	1.0	1.0	947	$5,195	$5.49	13d	1	0.97mi
1735 Van Ness Ave San Francisco, CA	2.0	1.0	1064	$12,225	$11.49	7d	2	0.98mi
2190 Washington St San Francisco, CA	1.0	1.0	950	$12,000	$12.63	1d	1	0.98mi
2360 Greenwich St San Francisco, CA	2.0	2.0	1354	$8,995	$6.64	16d	1	0.99mi
1310 Jones St San Francisco, CA	2.0	2.0	1367	$10,250	$7.50	3d	4	0.99mi
150 Lombard St San Francisco, CA	1.0	1.0	1150	$7,800	$6.78	43d	1	1.04mi
1501-1519 Polk St San Francisco, CA	2.0	1.0	1171	$5,295	$4.52	5d	2	1.05mi
1600 California St San Francisco, CA	2.0	1.0	1171	$5,295	$4.52	5d	1	1.06mi

HOA detail

• Monthly dues: $1,450 · $17,400/yr

Listing history 16 events

1. 2026-06-18
   days on market $89,000 Active 143 DOM
2. 2026-06-17
   days on market $89,000 Active 142 DOM
3. 2026-06-16
   days on market $89,000 Active 141 DOM
4. 2026-06-15
   days on market $89,000 Active 140 DOM
5. 2026-06-13
   days on market $89,000 Active 138 DOM
6. 2026-06-13
   days on market $89,000 Active 137 DOM
7. 2026-06-09
   days on market $89,000 Active 134 DOM
8. 2026-06-08
   days on market $89,000 Active 133 DOM
9. 2026-06-07
   days on market $89,000 Active 132 DOM
10. 2026-06-04
    days on market $89,000 Active 129 DOM
11. 2026-06-03
    days on market $89,000 Active 128 DOM
12. 2026-06-02
    days on market $89,000 Active 127 DOM
13. 2026-06-01
    days on market $89,000 Active 126 DOM
14. 2026-05-31
    days on market $89,000 Active 125 DOM
15. 2026-04-09
    price $89,000 1249-char remark

    Show marketing remark (1249 chars)

    Experience the exceptional privilege of 1/10th fractional ownership at Fairmont Heritage Place Ghirardelli Square, where the comfort of home meets the luxury of urban living, San Francisco-style. Starting at your arrival, with valet service available to park your car in the owner parking garage. This stunning 2 bedroom, 2 bathroom fully furnished unit features a fully equipped kitchen, which can be stocked with your favorite items by the Owner Services team, a living roomwith fireplace, Unwind in spa-like bathroom and enjoy the convenience of an in-room washer and dryer. Enjoy weekly Wine and Cheese Hour in the Owner's Lounge, relax outdoors on numerous terraces with firepits, and get to know fellow owners at special Events. This is a 1/10th floating fractional interest which entitles the owner the right to use any 2 BR unit, subject to availability. Ownership at Fairmont Heritage Place Ghirardelli Square offers 5 weeks (35 nights) of occupancy yearly. You may use the 5 weeks at Ghirardelli Square or use some of your time traveling around the globe to other Fairmont, Raffles and Accor properties worldwide. Fractional ownership includes the elite Accor Diamond Membership and exchange privileges with the Registry Collection.

16. 2026-01-26
    listed $95,000 Active 1249-char remark

    Show marketing remark (1249 chars)

    Experience the exceptional privilege of 1/10th fractional ownership at Fairmont Heritage Place Ghirardelli Square, where the comfort of home meets the luxury of urban living, San Francisco-style. Starting at your arrival, with valet service available to park your car in the owner parking garage. This stunning 2 bedroom, 2 bathroom fully furnished unit features a fully equipped kitchen, which can be stocked with your favorite items by the Owner Services team, a living roomwith fireplace, Unwind in spa-like bathroom and enjoy the convenience of an in-room washer and dryer. Enjoy weekly Wine and Cheese Hour in the Owner's Lounge, relax outdoors on numerous terraces with firepits, and get to know fellow owners at special Events. This is a 1/10th floating fractional interest which entitles the owner the right to use any 2 BR unit, subject to availability. Ownership at Fairmont Heritage Place Ghirardelli Square offers 5 weeks (35 nights) of occupancy yearly. You may use the 5 weeks at Ghirardelli Square or use some of your time traveling around the globe to other Fairmont, Raffles and Accor properties worldwide. Fractional ownership includes the elite Accor Diamond Membership and exchange privileges with the Registry Collection.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥79°F today · 17 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: $72,245
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$5,780
• − Management: −$5,780
• − HOA: −$17,400
• − Depreciation: −$2,589
• Taxable income: $33,931
• Est. tax owed @ 24.0%: −$8,144
• After-tax cash flow: $24,149/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): 54,553
• Household income: $106,018
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 5272.0

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 0.66)
• Race & ethnicity: White 50% Asian 27% Hispanic / Latino 13% Two or more races 10% Black 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 2%
• Foreign-born: 31% · China, Canada, Vietnam
• Languages at home: 64% English-only · Chinese 10% Spanish 7% Other Asian/Pacific 4%

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: ▲ 5.02%
• Current HPI: 175.8886
• Rent YoY: ▲ 15.60%
• 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

-6.3% since first listed

2 events — show timeline

• 2026-04-09 Price Changed $89,000 BAREIS
• 2026-01-26 Listed $95,000 BAREIS