9996 International Blvd · Oakland, CA 94603

$765,000

5 bd · 8.0 ba · 4,189 sqft · MultiFamily public records · 156 Days on market

Built 1903 4,400 sqft lot $183/sqft · 12% below area Est $865k · 12% 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 +12.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• 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: 8 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 MLS

9996 International Boulevard is an eight-unit residential property composed of studio apartments in the Ivywood neighborhood, positioned along the International Boulevard corridor with convenient access to local services. Built in 1903, the building totals approximately 4,189 square feet on a 4,400-square-foot lot. All eight units are fully occupied, and the property maintains an efficient footprint. With its consistent studio layout, established tenancy, and location, 9996 International Boulevard functions as a stable multifamily asset along a major Oakland thoroughfare.

Key facts

• Ivywood neighborhood
• Efficient footprint
• Studio apartments

Tags

• STUDIO APARTMENTS
• IVYWOOD NEIGHBORHOOD
• FULLY OCCUPIED
• EFFICIENT FOOTPRINT
• STABLE MULTIFAMILY ASSET
• MAJOR OAKLAND THOROUGHFARE

What this means for you Summary

Snapshot

• This is a 8 × 1-bed/1-bath units multifamily listed at $765k.

Deal economics

• At list price, monthly cash flow is $6k ($75k/yr) — positive. Per door: $784/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $765k).
• Recommended offer: $673k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.1% 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 rising (+1.6%/yr); 98 active listings in the ZIP; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $15,430/mo this rent would consume 241% of the median local household income ($77k/yr) (locally 2061% 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 $5k of loan paydown is wiped out by about $23k 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 + 1.6% rent growth), your $214k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($673k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $530k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $673,200 (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 1903 — 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: 2.02% ✓
• Cap rate: 16.13%
• Cash-on-cash: 35.14%
• DSCR: 2.56
• GRM: 4.1

CMA / ARV

• ARV (median comp): $865,361
• List price: $765,000
• Delta: -11.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 29.0%
• Equity multiple: 2.19×
• Total profit: $254,455
• Equity at exit: $114,064

10-year hold

• IRR: 35.6%
• Equity multiple: 4.04×
• Total profit: $651,870
• Equity at exit: $66,143

Cash invested: $214,200 (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 94603

• Rents YoY: 1.6%
• Active inventory: 98
• Price-to-rent: 33.1×

Monthly cashflow live

• Estimated rent: $15,430 high
• Mortgage (P&I): −$4,012
• Tax from tax record: −$1,586 /mo · $19,033/yr
• Insurance: −$319
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,240
• Net cashflow: $6,273

Break-even live

Break-even rent $7,489

Max offer price $765,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$15,432
Total (8 units)			$15,430

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: $191,250
• Closing costs: $22,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $765,000 Active 156 DOM
2. 2026-06-17
   days on market $765,000 Active 155 DOM
3. 2026-06-16
   days on market $765,000 Active 154 DOM
4. 2026-06-15
   days on market $765,000 Active 153 DOM
5. 2026-06-13
   days on market $765,000 Active 151 DOM
6. 2026-06-13
   days on market $765,000 Active 150 DOM
7. 2026-06-09
   days on market $765,000 Active 147 DOM
8. 2026-06-08
   days on market $765,000 Active 146 DOM
9. 2026-06-07
   days on market $765,000 Active 145 DOM
10. 2026-06-04
    days on market $765,000 Active 142 DOM
11. 2026-06-03
    days on market $765,000 Active 141 DOM
12. 2026-06-02
    days on market $765,000 Active 140 DOM
13. 2026-06-01
    days on market $765,000 Active 139 DOM
14. 2026-05-31
    days on market $765,000 Active 138 DOM
15. 2026-01-13
    listed $765,000 Active 578-char remark

    Show marketing remark (578 chars)

    9996 International Boulevard is an eight-unit residential property composed of studio apartments in the Ivywood neighborhood, positioned along the International Boulevard corridor with convenient access to local services. Built in 1903, the building totals approximately 4,189 square feet on a 4,400-square-foot lot. All eight units are fully occupied, and the property maintains an efficient footprint. With its consistent studio layout, established tenancy, and location, 9996 International Boulevard functions as a stable multifamily asset along a major Oakland thoroughfare.

16. 2002-10-30
    soldstatus $530,000
17. 2000-05-31
    soldstatus $275,000

ⓘ 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: $19,033 · $1,586/mo
• Projected year-2 tax: $19,033 · $1,586/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°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: $185,160
• − Mortgage interest: −$42,852
• − Property taxes: −$19,033
• − Insurance: −$3,825
• − Repairs & maintenance: −$14,813
• − Management: −$14,813
• − Depreciation: −$22,255
• Taxable income: $67,570
• Est. tax owed @ 24.0%: −$16,217
• After-tax cash flow: $59,061/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): 35,742
• Household income: $76,723
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2061.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 25% Two or more races 11% Asian 5% White 4% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 51%
• Foreign-born: 37% · Canada, China, Vietnam
• Languages at home: 37% English-only · Spanish 56% Other Asian/Pacific 2% Chinese 1%

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: ▼ -665.46%
• Current HPI: 396.0247
• Rent YoY: ▲ 1.58%
• 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

+178.2% since first listed

3 events — show timeline

• 2026-01-13 Listed $765,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2002-10-30 Sold (Public Records) $530,000 Public Records
• 2000-05-31 Sold (Public Records) $275,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $19,033 · +5.3% YoY. Source: county tax records.