2399 E 14th #112 · San Leandro, CA 94577

$49,888

1 bd · 1.0 ba · 532 sqft · Manufactured public records · 218 Days on market

Built 1991 $94/sqft · 42% below area Est $86k · 42% under ↓ 29% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ALL OFFERS CONSIDERED-Motivated sellers! Own this home for less than the price of a new car! Charming 1-bedroom, 1-bath home in an all-age community offers affordable Bay Area living. Features a spacious kitchen with dining area and breakfast bar, vaulted ceilings, window A/C, and washer/dryer hookups. Enjoy a cozy side yard perfect for relaxing or gardening. Conveniently located near Downtown San Leandro, I-580, I-880, BART, shopping, and schools.

Key facts

• Spacious kitchen
• Cozy side yard
• Dining area

Tags

• SPACIOUS KITCHEN
• DINING AREA
• BREAKFAST BAR
• VAULTED CEILINGS
• WASHER DRYER HOOKUPS
• COZY SIDE YARD

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.2% vs local median 2.0% in San Leandro — 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 68/100 on livability (#289 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities C-, schools D, crime F.
• San Leandro Unified (urban): math 28% / reading 42% proficiency, ranked #831 of 1,400 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.7%/yr); 106 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k 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 + 1.7% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $43,901 (12.0% below list)

Questions for the listing agent

1. It's been on market 218 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 4.14% ✓
• Cap rate: 37.22%
• Cash-on-cash: 110.46%
• DSCR: 5.91
• GRM: 2.0

CMA / ARV

• ARV (median comp): $85,948
• List price: $49,888
• Delta: -41.96%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2399 E 14th St #52	0.01mi	1/1.0	528 (-1%)	12mo	$60,000	$114	88
2399 E 14th St #66	0.00mi	1/1.0	480 (-10%)	3mo	$46,000	$96	81
2399 E 14th St #67	0.00mi	1/1.0	528 (-1%)	23mo	$25,000	$47	80
2399 E 14th St #81	0.00mi	1/1.0	504 (-5%)	15mo	$29,000	$58	78
2399 E 14th St #12	0.08mi	1/1.0	576 (+8%)	12mo	$88,200	$153	73
2399 E 14th St #56	0.00mi	1/1.0	480 (-10%)	23mo	$33,000	$69	64
2399 E 14th St #71	0.06mi	1/1.0	480 (-10%)	21mo	$55,000	$115	64

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 · 1.74% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.10×
• Total profit: $71,253
• Equity at exit: $7,438

10-year hold

• IRR: —
• Equity multiple: 12.26×
• Total profit: $157,281
• Equity at exit: $4,313

Cash invested: $13,969 (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 94577

• Rents YoY: 1.7%
• Active inventory: 106
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $2,064 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $1,286

Break-even live

Break-even rent $436

Max offer price $49,888

Occupancy floor 33%

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: $12,472
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2795 San Leandro Blvd San Leandro, CA	2.0	1.0	663	$2,298	$3.46	43d	1	0.13mi
85 Estabrook St San Leandro, CA	1.0–2.0	1.0–2.0	800	$2,275	$2.84	5d	7	0.16mi
13495 Bancroft Ave San Leandro, CA	1.0–2.0	1.0	745	$2,150	$2.89	10d	2	0.19mi
2251 Buena Vista Ave Apt 19 San Leandro, CA	2.0	1.0	750	$2,350	$3.13	14d	1	0.22mi
70 Harlan St San Leandro, CA	2.0	1.0	690	$2,170	$3.14	2d	6	0.35mi
355 Estabrook St Apt 303 San Leandro, CA	1.0	1.0	750	$2,045	$2.73	19d	1	0.39mi
355 Estabrook St Unit 206 San Leandro, CA	1.0	1.0	750	$1,975	$2.63	24d	1	0.39mi
1812 Washington Ave San Leandro, CA	1.0	1.0	632	$1,925	$3.05	20d	1	0.47mi
14365 Bancroft Ave San Leandro, CA	1.0	1.0	500	$1,900	$3.80	43d	1	0.61mi
14400 E 14th St San Leandro, CA	1.0	1.0	650	$2,145	$3.30	16d	1	0.63mi
14377 Bancroft Ave Apt 28 San Leandro, CA	1.0	1.0	620	$2,145	$3.46	12d	1	0.64mi
14377 Bancroft Ave Apt 09 San Leandro, CA	1.0	1.0	620	$1,895	$3.06	12d	1	0.64mi
14433 Bancroft Ave San Leandro, CA	1.0	1.0	640	$1,749	$2.73	43d	2	0.66mi
14433 Bancroft Ave San Leandro, CA	1.0	1.0	640	$1,841	$2.88	2d	1	0.66mi
14550 E 14th St San Leandro, CA	1.0	1.0	650	$1,894	$2.91	2d	5	0.72mi
529 Callan Ave Unit 1 San Leandro, CA	1.0	1.0	700	$1,945	$2.78	21d	1	0.81mi
527 Callan Ave Unit 1 San Leandro, CA	1.0	1.0	700	$1,945	$2.78	21d	1	0.82mi
321 W Estudillo Ave Unit 4 San Leandro, CA	1.0	1.0	540	$1,875	$3.47	44d	1	0.85mi
540 Callan Ave Unit 205 San Leandro, CA	1.0	1.0	650	$1,925	$2.96	5d	1	0.85mi
100 Callan Ave San Leandro, CA	2.0	1.0–2.0	687	$2,706	$3.94	1d	6	0.89mi
206 Chumalia St San Leandro, CA	1.0	1.0	650	$1,925	$2.96	2d	1	0.94mi
1540 Orchard Ave San Leandro, CA	1.0	1.0	550	$1,650	$3.00	43d	1	0.98mi
1574 Pacific Ave Unit 1580 3 San Leandro, CA	1.0	1.0	650	$1,795	$2.76	43d	1	1.03mi
235 Haas Ave San Leandro, CA	1.0–2.0	1.0–2.0	710	$2,095	$2.95	2d	8	1.05mi
14744 Washington Ave San Leandro, CA	1.0–2.0	1.0–2.0	860	$1,969	$2.29	12d	18	1.11mi
1399 Pacific Ave San Leandro, CA	1.0	1.0	492	$1,895	$3.85	43d	6	1.14mi
1275 Pacific Ave San Leandro, CA	1.0	1.0	680	$1,775	$2.61	24d	1	1.18mi
14700 Washington Ave San Leandro, CA	1.0–2.0	1.0	724	$2,082	$2.88	1d	8	1.26mi
902 Davis St San Leandro, CA	1.0–2.0	1.0–2.0	756	$2,235	$2.96	5d	11	1.26mi
554 Bancroft Ave San Leandro, CA	2.0	1.0	694	$2,200	$3.17	43d	1	1.32mi
457 Ruth Ct San Leandro, CA	1.0	1.0	680	$2,200	$3.24	12d	1	1.36mi
165 Preda St San Leandro, CA	1.0	1.0	600	$1,715	$2.86	43d	1	1.42mi
475 Fortuna Ave San Leandro, CA	—	1.0	420	$1,825	$4.35	43d	1	1.43mi
170 Stoakes Ave Unit 04 San Leandro, CA	1.0	1.0	650	$1,970	$3.03	24d	1	1.47mi
170 Stoakes Ave Unit 01 San Leandro, CA	1.0	1.0	650	$2,045	$3.15	43d	1	1.47mi

Listing history 18 events

1. 2026-06-18
   days on market $49,888 Active 218 DOM
2. 2026-06-17
   days on market $49,888 Active 217 DOM
3. 2026-06-16
   days on market $49,888 Active 216 DOM
4. 2026-06-15
   days on market $49,888 Active 215 DOM
5. 2026-06-13
   days on market $49,888 Active 213 DOM
6. 2026-06-09
   days on market $49,888 Active 209 DOM
7. 2026-06-08
   days on market $49,888 Active 208 DOM
8. 2026-06-07
   days on market $49,888 Active 207 DOM
9. 2026-06-04
   days on market $49,888 Active 204 DOM
10. 2026-06-03
    days on market $49,888 Active 203 DOM
11. 2026-06-02
    days on market $49,888 Active 202 DOM
12. 2026-06-01
    days on market $49,888 Active 201 DOM
13. 2026-05-31
    days on market $49,888 Active 200 DOM
14. 2026-02-23
    price $49,888 452-char remark

    Show marketing remark (452 chars)

    ALL OFFERS CONSIDERED-Motivated sellers! Own this home for less than the price of a new car! Charming 1-bedroom, 1-bath home in an all-age community offers affordable Bay Area living. Features a spacious kitchen with dining area and breakfast bar, vaulted ceilings, window A/C, and washer/dryer hookups. Enjoy a cozy side yard perfect for relaxing or gardening. Conveniently located near Downtown San Leandro, I-580, I-880, BART, shopping, and schools.

15. 2025-11-12
    listed $50,000 Active 452-char remark

    Show marketing remark (452 chars)

    ALL OFFERS CONSIDERED-Motivated sellers! Own this home for less than the price of a new car! Charming 1-bedroom, 1-bath home in an all-age community offers affordable Bay Area living. Features a spacious kitchen with dining area and breakfast bar, vaulted ceilings, window A/C, and washer/dryer hookups. Enjoy a cozy side yard perfect for relaxing or gardening. Conveniently located near Downtown San Leandro, I-580, I-880, BART, shopping, and schools.

16. 2017-10-16
    soldstatus $62,500 Sold 455-char remark

    Show marketing remark (455 chars)

    Cute, comfortable 1 bedroom, 1 bath unit. Front kitchen has room for a table or you could eat at the breakfast bar. Vaulted ceilings in the front rooms. Bathroom has a tub/shower and plenty of light to see in the mirror. Window air conditioner to keep you cool during the hot weather. The desk in the hallway leading to the bedroom is where the washer/dryer hookups are. Shed in the backyard. Perfect amount of side yard space for sitting or gardening.

17. 2017-09-26
    status Pending 455-char remark

    Show marketing remark (455 chars)

    Cute, comfortable 1 bedroom, 1 bath unit. Front kitchen has room for a table or you could eat at the breakfast bar. Vaulted ceilings in the front rooms. Bathroom has a tub/shower and plenty of light to see in the mirror. Window air conditioner to keep you cool during the hot weather. The desk in the hallway leading to the bedroom is where the washer/dryer hookups are. Shed in the backyard. Perfect amount of side yard space for sitting or gardening.

18. 2017-08-30
    listed $70,000 New 455-char remark

    Show marketing remark (455 chars)

    Cute, comfortable 1 bedroom, 1 bath unit. Front kitchen has room for a table or you could eat at the breakfast bar. Vaulted ceilings in the front rooms. Bathroom has a tub/shower and plenty of light to see in the mirror. Window air conditioner to keep you cool during the hot weather. The desk in the hallway leading to the bedroom is where the washer/dryer hookups are. Shed in the backyard. Perfect amount of side yard space for sitting or gardening.

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,767
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$249
• − Repairs & maintenance: −$1,981
• − Management: −$1,981
• − Depreciation: −$1,451
• Taxable income: $15,561
• Est. tax owed @ 24.0%: −$3,735
• After-tax cash flow: $11,694/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 Leandro Unified
• NCES district ID: 0634680
• Math proficiency: 28% ▲ 3.00%
• Reading proficiency: 42% ▲ 5.00%
• Median HH income: $63,377
• Composite: 34.23/100
• National rank: #10252
• State rank: #831 of 1400 in CA

Livability — San Leandro

• Score: 68/100
• State rank: #289
• US rank: #9768

Category grades

Amenities C- Commute A+ Cost of living F Crime F Employment A+ Housing B Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Leandro, CA
• County: Alameda County · 1,614,355 people
• City population: 88,086
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 46,317
• Household income: $108,772
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 2005.0

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 0.76)
• Race & ethnicity: Hispanic / Latino 31% Asian 28% White 23% Two or more races 14% Black 12% Native American 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Russian 2% Italian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, China, Vietnam
• Languages at home: 51% English-only · Spanish 23% Chinese 10% Tagalog/Filipino 7%

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: ▼ -867.55%
• Current HPI: 265.2446
• Rent YoY: ▲ 1.74%
• 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

-28.7% since first listed

5 events — show timeline

• 2026-02-23 Price Changed $49,888 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-11-12 Listed $50,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-10-16 Sold (MLS) $62,500 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-09-26 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-08-30 Listed $70,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

-19.9%/yr

Latest (2020): $10 · +1.0% YoY. Source: county tax records.