419 W Flora St · Stockton, CA 95203

$1,200,000

120 bd · 100.0 ba · 5,696 sqft · MultiFamily public records · 1 Days on market

Built 1970 7,501 sqft lot

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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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• 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

The Flora apartments are a 10-unit complex nestled near Stockton's desirable Downtown Waterfront district. Professionally maintained and improved far above the standards of nearby properties, this asset provides an investor with a stable income stream and very low management responsibility. The asset is 100% occupied at near market rents, providing an investor with north of a 7% return on current net operating income, with room to grow! The property is made up of Ten (10) units; Eight (8) are 1-bedroom, 1-bathroom units, approximately 482 square feet and Two (2) 2-bedroom, 1-bathroom units, approximately 670 square feet. Located midblock between N. Lincoln and N. Van Buren, the Flora Apar

Key facts

• 100 percent occupied
• 10 unit complex
• 7,501 sq ft lot

Tags

• 10 UNIT COMPLEX
• 100 PERCENT OCCUPIED
• DOWNTOWN WATERFRONT DISTRICT

Property features AI

Finance

• Financial info: Multifamily investment: 10 total units
• HOA & community: No homeowners association

Exterior

• Parking: Parking for six vehicles
• Security: No specific security features listed
• Utilities: Cable connected; City utilities; Natural gas connected; Water meter on site; Sewer details: see remarks; Irrigation details: see remarks
• Home design: Residential income property (apartments); Five or more unit apartment building; Built in 1970
• Construction: Year built 1970
• Exterior features: Lot without special features listed

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: One-bedroom units (some or all units are 1-bedroom)
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom in at least one unit
• Heating & cooling: Wall furnace heating; Ceiling fans; Wall air conditioning units
• Interior features: Two-story building
• Laundry & utility: On-site laundry (listed as 'Other' laundry features)

What this means for you Summary

Snapshot

• This is a 8×1bd/1ba + 2×2bd/1ba units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $186/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.20M).
• Cap rate 8.2% 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: 64 active listings in the ZIP; 3,779 units permitted in San Joaquin County in 2024 (0 in 5+ unit buildings).
• At $12,037/mo this rent would consume 228% 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 $8k of loan paydown is wiped out by about $36k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 3y ago; this cycle's ask is 106567% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $745k; list at $1.20M implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $1,200,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.00% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.1%
• Equity multiple: 0.77×
• Total profit: $-76,256
• Equity at exit: $178,924

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $85,200
• Equity at exit: $103,754

Cash invested: $336,000 (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: 64
• Price-to-rent: 84.5×

Monthly cashflow live

• Estimated rent: $12,037 high
• Mortgage (P&I): −$6,293
• Tax from tax record: −$857 /mo · $10,286/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,528
• Net cashflow: $1,859

Break-even live

Break-even rent $9,684

Max offer price $1,200,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$9,472
▸ 2× units	2	1	$2,568
Total (10 units)			$12,037

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2024-11-19
   historical $1,125
2. 2024-11-08
   listed $1,125
3. 2024-08-30
   historical $1,125
4. 2024-08-01
   historical $1,125
5. 2024-07-30
   listed $1,125
6. 2024-07-20
   listed $1,125
7. 2024-07-14
   historical $1,125
8. 2024-07-09
   price $1,125
9. 2024-06-21
   price $1,195
10. 2024-06-18
    listed $1,200
11. 2024-04-10
    historical $1,125
12. 2024-03-14
    price $1,125
13. 2024-02-02
    price $1,250
14. 2023-12-01
    price $1,195
15. 2023-11-04
    listed $1,250
16. 2018-12-10
    soldstatus $745,000
17. 2016-06-30
    soldstatus $530,000

ⓘ 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: $10,286 · $857/mo
• Projected year-2 tax: $10,286 · $857/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 · 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 30 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $144,444
• − Mortgage interest: −$67,219
• − Property taxes: −$10,286
• − Insurance: −$6,000
• − Repairs & maintenance: −$11,556
• − Management: −$11,556
• − Depreciation: −$34,909
• Taxable income: $2,919
• Est. tax owed @ 24.0%: −$701
• After-tax cash flow: $21,609/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

Price history

-99.8% since first listed

17 events — show timeline

• 2024-11-19 Rental Removed $1,125 APPFOLIO
• 2024-11-08 Listed for Rent $1,125 APPFOLIO
• 2024-08-30 Rental Removed $1,125 RENT.
• 2024-08-01 Rental Removed $1,125 APPFOLIO
• 2024-07-30 Listed for Rent $1,125 RENT.
• 2024-07-20 Listed for Rent $1,125 APPFOLIO
• 2024-07-14 Rental Removed $1,125 APPFOLIO
• 2024-07-09 Price Changed $1,125 APPFOLIO
• 2024-06-21 Price Changed $1,195 APPFOLIO
• 2024-06-18 Listed for Rent $1,200 APPFOLIO
• 2024-04-10 Rental Removed $1,125 APPFOLIO
• 2024-03-14 Price Changed $1,125 APPFOLIO
• 2024-02-02 Price Changed $1,250 APPFOLIO
• 2023-12-01 Price Changed $1,195 APPFOLIO
• 2023-11-04 Listed for Rent $1,250 APPFOLIO
• 2018-12-10 Sold (Public Records) $745,000 Public Records
• 2016-06-30 Sold (Public Records) $530,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $10,286 · +1.6% YoY. Source: county tax records.