1432 45th Ave · Oakland, CA 94601

$1,210,000

5 bd · 6.0 ba · 3,724 sqft · MultiFamily public records · 107 Days on market

Built 1941 0.33 ac lot $325/sqft · 36% above area Est $1630k · 26% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Schools +3.0/10.0
• 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 MLS

The property is a 10-unit multifamily offering consisting of two separately parceled, adjacent buildings in Oakland’s Fruitvale district. The property includes a 6-unit building and a 4-unit building, presenting a rare opportunity to acquire scale with flexibility for future disposition or financing strategies. The unit mix consists of two 2-bedroom/1-bath units, seven 1-bedroom/1-bath units, and one studio unit, catering to strong local rental demand. The property also features eight off-street parking spaces, providing added convenience for tenants. This is a compelling opportunity to acquire a well-located asset with solid in-place income and long-term upside in one of Oakland’s most transit-connected neighborhoods.

Key facts

• Multifamily offering
• 0.33 acre lot
• Built 1941

Tags

• MULTIFAMILY OFFERING
• OFF-STREET PARKING SPACES
• STRONG LOCAL RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 7×1bd/1ba + 1×?bd/1ba units multifamily listed at $1.21M.

Deal economics

• At list price, monthly cash flow is $5k ($60k/yr) — positive. Per door: $501/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.21M).
• Recommended offer: $1.10M (9.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 2.5% 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: 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.
• Zoned schools: Bridges @ Melrose Academy Elementary (414 students, 99% FRL); Fremont High (1,146 students, 97% FRL) — zoned schools average 98% FRL vs 68% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.9%/yr); 119 active listings in the ZIP; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $16,383/mo this rent would consume 272% of the median local household income ($72k/yr) (locally 3603% 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.
• 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 + 3.9% rent growth), your $339k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($1.10M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $85k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $810k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,101,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% 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 1941 — 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: 1.35% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.73%
• DSCR: 1.79
• GRM: 6.2

CMA / ARV

• ARV (median comp): $1,630,195
• List price: $1,210,000
• Delta: -25.78%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.89% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.41×
• Total profit: $137,501
• Equity at exit: $180,415

10-year hold

• IRR: 20.0%
• Equity multiple: 2.75×
• Total profit: $592,008
• Equity at exit: $104,619

Cash invested: $338,800 (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 94601

• Rents YoY: 3.9%
• Active inventory: 119
• Price-to-rent: 54.1×

Monthly cashflow live

• Estimated rent: $16,383 medium
• Mortgage (P&I): −$6,345
• Tax from tax record: −$1,088 /mo · $13,054/yr
• Insurance: −$504
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,440
• Net cashflow: $5,005

Break-even live

Break-even rent $10,047

Max offer price $1,210,000

Occupancy floor 64%

Sensitivity live

Price	-10% $5,690	-5% $5,348	+0% $5,005	+5% $4,663	+10% $4,320
Rent	-10% $3,711	-5% $4,358	+0% $5,005	+5% $5,652	+10% $6,299
Rate	-1.0pp $5,615	-0.5pp $5,313	base $5,005	+0.5pp $4,692	+1.0pp $4,373

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,728
▸ 7× units	1	1	$11,102
1× unit	0	1	$1,554
Total (10 units)			$16,383

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: $302,500
• Closing costs: $36,300
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $1,210,000 Active 107 DOM
2. 2026-06-18
   days on market $1,210,000 Active 104 DOM
3. 2026-06-17
   days on market $1,210,000 Active 103 DOM
4. 2026-06-16
   days on market $1,210,000 Active 102 DOM
5. 2026-06-15
   days on market $1,210,000 Active 101 DOM
6. 2026-06-13
   days on market $1,210,000 Active 99 DOM
7. 2026-06-13
   days on market $1,210,000 Active 98 DOM
8. 2026-06-09
   days on market $1,210,000 Active 95 DOM
9. 2026-06-08
   days on market $1,210,000 Active 94 DOM
10. 2026-06-07
    days on market $1,210,000 Active 93 DOM
11. 2026-06-04
    days on market $1,210,000 Active 90 DOM
12. 2026-06-03
    days on market $1,210,000 Active 89 DOM
13. 2026-06-02
    days on market $1,210,000 Active 88 DOM
14. 2026-06-01
    days on market $1,210,000 Active 87 DOM
15. 2026-05-31
    days on market $1,210,000 Active 86 DOM
16. 2026-03-06
    listed $1,295,000 Active 740-char remark

    Show marketing remark (740 chars)

    The property is a 10-unit multifamily offering consisting of two separately parceled, adjacent buildings in Oakland’s Fruitvale district. The property includes a 6-unit building and a 4-unit building, presenting a rare opportunity to acquire scale with flexibility for future disposition or financing strategies. The unit mix consists of two 2-bedroom/1-bath units, seven 1-bedroom/1-bath units, and one studio unit, catering to strong local rental demand. The property also features eight off-street parking spaces, providing added convenience for tenants. This is a compelling opportunity to acquire a well-located asset with solid in-place income and long-term upside in one of Oakland’s most transit-connected neighborhoods.

17. 2024-10-08
    listed $1,495,000 Active
18. 2014-06-27
    soldstatus $810,000
19. 2014-06-27
    soldstatus $810,000
20. 2014-06-27
    soldstatus $810,000
21. 2014-04-01
    listed $819,000
22. 2014-04-01
    listed $819,000

ⓘ 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: $13,054 · $1,088/mo
• Projected year-2 tax: $13,054 · $1,088/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 4/10 Moderate FEMA zone X (shaded) · 22% 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: $196,596
• − Mortgage interest: −$67,779
• − Property taxes: −$13,054
• − Insurance: −$6,050
• − Repairs & maintenance: −$15,728
• − Management: −$15,728
• − Depreciation: −$35,200
• Taxable income: $43,058
• Est. tax owed @ 24.0%: −$10,334
• After-tax cash flow: $49,729/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): 53,259
• Household income: $72,359
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3603.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 53% Asian 18% Black 13% White 11% Two or more races 10% Native American 3%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Italian 1% Scotch-Irish 1%
• Foreign-born: 40% · Canada, Vietnam, China
• Languages at home: 35% English-only · Spanish 46% Chinese 5% Vietnamese 4%

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: ▼ -1045.52%
• Current HPI: 347.3256
• Rent YoY: ▲ 3.89%
• 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

+58.1% since first listed

7 events — show timeline

• 2026-03-06 Listed $1,295,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-10-08 Listed $1,495,000 San Francisco MLS
• 2014-06-27 Sold (Public Records) $810,000 Public Records
• 2014-06-27 Sold (MLS) $810,000 SDMLS
• 2014-06-27 Sold (MLS) $810,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2014-04-01 Listed $819,000 SDMLS
• 2014-04-01 Listed $819,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+4.9%/yr

Latest (2025): $13,054 · +5.0% YoY. Source: county tax records.