5609 Foothill Blvd · Oakland, CA 94605

$585,000

4 bd · 3.0 ba · 2,332 sqft · MultiFamily public records · 207 Days on market

Built 1928 4,800 sqft lot $251/sqft · 11% below area Est $655k · 11% under

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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 +18.8/30.0
• ARV discount +12.3/15.0
• DSCR +5.9/10.0
• 1% rule +4.1/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.7/5.0
• 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

Great opportunity to own this property features a flexible layout with 4 bedroom, 2 bathrooms, 2332 sq ft including a separate unit next door with an open space floor plan. Lot size is 4,800 sq ft. Kitchen features granite counter tops and plenty of cabinets. Pergo flooring throughout. Perfect for owner occupy and great potential for investors. Convenient to shopping markets and easy access to freeways.

Key facts

• 4,800 sq ft lot
• Built 1928
• Listed 207 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $585k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $533k (8.9% below list).
• Recommended offer: $515k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 flat; 186 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $5,329/mo this rent would consume 60% of the median local household income ($106k/yr) (locally 2086% 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 $18k 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.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($515k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $50k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $585k implies a 680% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $514,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 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 1928 — 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: 0.91% ✗
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• GRM: 9.1

CMA / ARV

• ARV (median comp): $654,697
• List price: $585,000
• Delta: -10.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2416 Seminary Ave	0.19mi	4/2.0	2,280 (-2%)	14mo	$700,000	$307	72
5909 Harmon Ave	0.30mi	5/3.0 (+1)	2,127 (-9%)	21mo	$655,000	$308	49
1905-1907 62nd Ave	0.43mi	5/4.0 (+1)	2,376 (+2%)	24mo	$975,000	$410	48

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 · 0.65% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.57×
• Total profit: $-69,860
• Equity at exit: $87,225

10-year hold

• IRR: -6.5%
• Equity multiple: 0.62×
• Total profit: $-61,561
• Equity at exit: $50,580

Cash invested: $163,800 (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 94605

• Rents YoY: 0.7%
• Active inventory: 186
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $5,329 high
• Mortgage (P&I): −$3,068
• Tax from tax record: −$311 /mo · $3,729/yr
• Insurance: −$244
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,119
• Net cashflow: $588

Break-even live

Break-even rent $4,585

Max offer price $585,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,328
Total (2 units)			$5,329

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: $146,250
• Closing costs: $17,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5307 Hillen Dr Oakland, CA	3.0	2.0	1831	$3,895	$2.13	5d	1	0.27mi
5875 Picardy Dr Oakland, CA	4.0	2.5	1906	$5,200	$2.73	44d	1	0.31mi
7625 Lockwood St Oakland, CA	5.0	3.0	2115	$1,199	$0.57	44d	1	1.09mi

Listing history 27 events

1. 2026-06-18
   days on market $585,000 Active 207 DOM
2. 2026-06-17
   days on market $585,000 Active 206 DOM
3. 2026-06-16
   days on market $585,000 Active 205 DOM
4. 2026-06-15
   days on market $585,000 Active 204 DOM
5. 2026-06-13
   days on market $585,000 Active 202 DOM
6. 2026-06-13
   days on market $585,000 Active 201 DOM
7. 2026-06-09
   days on market $585,000 Active 198 DOM
8. 2026-06-08
   days on market $585,000 Active 197 DOM
9. 2026-06-07
   days on market $585,000 Active 196 DOM
10. 2026-06-04
    days on market $585,000 Active 193 DOM
11. 2026-06-03
    days on market $585,000 Active 192 DOM
12. 2026-06-02
    days on market $585,000 Active 191 DOM
13. 2026-06-01
    days on market $585,000 Active 190 DOM
14. 2026-05-31
    days on market $585,000 Active 189 DOM
15. 2025-12-17
    price $585,000 406-char remark

    Show marketing remark (406 chars)

    Great opportunity to own this property features a flexible layout with 4 bedroom, 2 bathrooms, 2332 sq ft including a separate unit next door with an open space floor plan. Lot size is 4,800 sq ft. Kitchen features granite counter tops and plenty of cabinets. Pergo flooring throughout. Perfect for owner occupy and great potential for investors. Convenient to shopping markets and easy access to freeways.

16. 2025-11-23
    listed $635,000 Active 406-char remark

    Show marketing remark (406 chars)

    Great opportunity to own this property features a flexible layout with 4 bedroom, 2 bathrooms, 2332 sq ft including a separate unit next door with an open space floor plan. Lot size is 4,800 sq ft. Kitchen features granite counter tops and plenty of cabinets. Pergo flooring throughout. Perfect for owner occupy and great potential for investors. Convenient to shopping markets and easy access to freeways.

17. 2022-02-03
    historical
18. 2010-11-13
    historical
19. 2010-05-13
    soldstatus $75,000 Sold
20. 2010-03-29
    status Pending
21. 2010-03-09
    price $79,900 Price Change
22. 2010-01-14
    listed $109,999 New
23. 2009-08-05
    historical
24. 2009-05-14
    listed
25. 2008-12-23
    historical
26. 2008-06-19
    listed
27. 2003-11-10
    soldstatus $210,000

ⓘ 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: $3,729 · $311/mo
• Projected year-2 tax: $4,446 · $370/mo
• Expected delta: +$717/yr (+$60/mo · 19.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥83°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,948
• − Mortgage interest: −$32,769
• − Property taxes: −$3,729
• − Insurance: −$2,925
• − Repairs & maintenance: −$5,116
• − Management: −$5,116
• − Depreciation: −$17,018
• Taxable loss: −$2,725
• Est. tax savings @ 24.0%: +$654
• After-tax cash flow: $7,705/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): 44,103
• Household income: $106,068
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 2086.0

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 0.73)
• Race & ethnicity: Black 40% Hispanic / Latino 27% White 17% Two or more races 11% Asian 9%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Italian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 20% · Canada, China, Vietnam
• Languages at home: 70% English-only · Spanish 21% Chinese 2% Other Asian/Pacific 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: ▼ -793.09%
• Current HPI: 294.5467
• Rent YoY: ▲ 0.65%
• 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

+178.6% since first listed

13 events — show timeline

• 2025-12-17 Price Changed $585,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-11-23 Listed $635,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2022-02-03 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-11-13 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-05-13 Sold (MLS) $75,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-03-29 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-03-09 Price Changed $79,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-01-14 Listed $109,999 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2009-08-05 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2009-05-14 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2008-12-23 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2008-06-19 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2003-11-10 Sold (Public Records) $210,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $3,729 · -20.8% YoY. Source: county tax records.