2924-2926 CESAR CHAVEZ St · San Francisco, CA 94110

$1,328,000

8 bd · 2.0 ba · 2,664 sqft · MultiFamily · 253 Days on market

Built 1914 Fair condition 1,389 sqft lot $498/sqft · at area comps Est $1327k · at est.

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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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Preserving San Francisco Victorian-Era Architectural Style! Desirable 2 Unit Mixed-use Victorian Building in San Francisco. Ground level commercial unit is vacant, it can be converted into a quintessential 2 bedroom and 2 bathroom residential unit, approved site plan for it is available. Residential unit above has 2 levels of 9 bedrooms with 2 bathrooms being rented room by room from one master tenant, income around $8,000/month. Perfect for savvy investors, 1031 exchangers, developers, contractors, or even first-time homebuyers looking to live in one unit and collect rent income from the other unit. Property is conveniently located: Close to shops, supermarkets, schools, parks, restaurants, public transportation. Minutes to Downtown San Francisco, San Francisco International Airport with easy access to freeways 101 and 280. Renovate the property your way! Terrific opportunity to own a San Francisco Beauty.

Key facts

• 1,389 sq ft lot
• Built 1914
• Listed 252 days

Tags

• GROUND LEVEL COMMERCIAL UNIT
• RESIDENTIAL UNIT ABOVE
• INCOME AROUND $8000 MONTH
• EASY ACCESS TO FREEWAYS

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $1.33M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.33M).
• Recommended offer: $1.17M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.1% in San Francisco — 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 76/100 on livability (#90 in CA, #3,143 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• San Francisco Unified (urban): math 50% / reading 56% proficiency, ranked #322 of 1,400 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+14.5%/yr); 161 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $14,841/mo this rent would consume 112% of the median local household income ($158k/yr) (locally 2732% 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 $9k of loan paydown is wiped out by about $40k of value loss. Plan a longer hold.
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $372k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 253 days — a 12% lower offer ($1.17M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y 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.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,168,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 253 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. 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: 1.12% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (median comp): $1,327,004
• List price: $1,328,000
• Delta: 0.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1270 Hampshire St	0.23mi	7/3.0 (-1)	2,394 (-10%)	1mo	$1,075,000	$449	62
828-830 Treat Ave	0.64mi	8/3.0	2,800 (+5%)	7mo	$1,060,000	$379	52
1330 Valencia St	0.72mi	8/3.0	2,612 (-2%)	20mo	$1,250,000	$479	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.07×
• Total profit: $25,674
• Equity at exit: $198,009

10-year hold

• IRR: 15.8%
• Equity multiple: 2.58×
• Total profit: $589,114
• Equity at exit: $114,821

Cash invested: $371,840 (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 San Francisco: 0 Strongly Tenant-Friendly · D+57

SF Rent Ordinance + Eviction Protections; relocation $10k+; one of strictest in US.

Methodology + full state rankings →

ZIP-level market 94110

• Rents YoY: 14.5%
• Active inventory: 161
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $14,841 high
• Mortgage (P&I): −$6,964
• Tax est. 1.5%: −$1,660 /mo · $19,920/yr
• Insurance: −$553
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,117
• Net cashflow: $2,547

Break-even live

Break-even rent $11,617

Max offer price $1,328,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$14,840
Total (2 units)			$14,841

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: $332,000
• Closing costs: $39,840
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1520 Kirkwood Ave San Francisco, CA	7.0	4.0	2863	$8,500	$2.97	43d	1	1.34mi

Listing history 23 events

1. 2026-06-18
   days on market $1,328,000 Active 253 DOM
2. 2026-06-17
   days on market $1,328,000 Active 252 DOM
3. 2026-06-16
   days on market $1,328,000 Active 251 DOM
4. 2026-06-15
   days on market $1,328,000 Active 250 DOM
5. 2026-06-13
   days on market $1,328,000 Active 248 DOM
6. 2026-06-13
   days on market $1,328,000 Active 247 DOM
7. 2026-06-09
   days on market $1,328,000 Active 244 DOM
8. 2026-06-08
   days on market $1,328,000 Active 243 DOM
9. 2026-06-07
   days on market $1,328,000 Active 242 DOM
10. 2026-06-04
    days on market $1,328,000 Active 239 DOM
11. 2026-06-03
    days on market $1,328,000 Active 238 DOM
12. 2026-06-02
    days on market $1,328,000 Active 237 DOM
13. 2026-06-01
    days on market $1,328,000 Active 236 DOM
14. 2026-05-31
    days on market $1,328,000 Active 235 DOM
15. 2025-10-09
    listed $1,328,000 Active 921-char remark

    Show marketing remark (921 chars)

    Preserving San Francisco Victorian-Era Architectural Style! Desirable 2 Unit Mixed-use Victorian Building in San Francisco. Ground level commercial unit is vacant, it can be converted into a quintessential 2 bedroom and 2 bathroom residential unit, approved site plan for it is available. Residential unit above has 2 levels of 9 bedrooms with 2 bathrooms being rented room by room from one master tenant, income around $8,000/month. Perfect for savvy investors, 1031 exchangers, developers, contractors, or even first-time homebuyers looking to live in one unit and collect rent income from the other unit. Property is conveniently located: Close to shops, supermarkets, schools, parks, restaurants, public transportation. Minutes to Downtown San Francisco, San Francisco International Airport with easy access to freeways 101 and 280. Renovate the property your way! Terrific opportunity to own a San Francisco Beauty.

16. 2025-10-09
    listed $1,328,000 Active 921-char remark

    Show marketing remark (921 chars)

    Preserving San Francisco Victorian-Era Architectural Style! Desirable 2 Unit Mixed-use Victorian Building in San Francisco. Ground level commercial unit is vacant, it can be converted into a quintessential 2 bedroom and 2 bathroom residential unit, approved site plan for it is available. Residential unit above has 2 levels of 9 bedrooms with 2 bathrooms being rented room by room from one master tenant, income around $8,000/month. Perfect for savvy investors, 1031 exchangers, developers, contractors, or even first-time homebuyers looking to live in one unit and collect rent income from the other unit. Property is conveniently located: Close to shops, supermarkets, schools, parks, restaurants, public transportation. Minutes to Downtown San Francisco, San Francisco International Airport with easy access to freeways 101 and 280. Renovate the property your way! Terrific opportunity to own a San Francisco Beauty.

17. 2024-09-16
    listed $1,359,000 Active
18. 2019-06-11
    soldstatus $1,280,000 Closed
19. 2019-05-09
    status Pending
20. 2019-04-17
    status Active
21. 2019-04-05
    historical Contingent - Show
22. 2019-03-14
    listed $1,250,000 Active
23. 1997-11-09
    listed $278,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $178,092
• − Mortgage interest: −$74,389
• − Property taxes: −$19,920
• − Insurance: −$6,640
• − Repairs & maintenance: −$14,247
• − Management: −$14,247
• − Depreciation: −$38,633
• Taxable income: $10,016
• Est. tax owed @ 24.0%: −$2,404
• After-tax cash flow: $28,159/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab

The property requires moderate repairs and maintenance, particularly to the exterior siding and paint, to improve its condition and value. Landscaping and interior updates would further enhance its appeal.

Repairs flagged

• Moderate Exterior siding — Weathered and stained, indicating need for cleaning or repainting.
• Moderate Exterior paint — Painted areas show signs of wear, requiring touch-up or repainting.
• Minor Landscaping — Minimal and overgrown, could benefit from trimming and planting.

Value-add opportunities

• Both Landscaping and curb appeal — Enhances the home's curb appeal and can attract more potential buyers or renters.
• Both Interior updates — Improves the home's livability and can increase its value for both resale and rental purposes.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and stained, indicating need for cleaning or repainting.	Moderate	$3,000–15,000
Exterior paint · Painted areas show signs of wear, requiring touch-up or repainting.	Moderate	$3,000–15,000
Landscaping · Minimal and overgrown, could benefit from trimming and planting.	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both Landscaping and curb appeal — Enhances the home's curb appeal and can attract more potential buyers or renters. ↑
• Both Interior updates — Improves the home's livability and can increase its value for both resale and rental purposes. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: San Francisco Unified
• NCES district ID: 0634410
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $81,249
• Composite: 50.14/100
• National rank: #4088
• State rank: #322 of 1400 in CA

Livability — San Francisco

• Score: 76/100
• State rank: #90
• US rank: #3143

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: San Francisco, CA
• County: San Francisco County · 827,552 people
• City population: 827,552
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 66,865
• Household income: $158,351
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2732.0

Population outlook (San Francisco County) Hauer SSP2

• Today (2025): 1,030,936 people
• By 2030: 1,110,409 · +7.7%
• By 2040: 1,270,010 · +23.2%
• By 2050: 1,435,001 · +39.2%
• By 2075: 1,779,074 · +72.6%
• By 2100: 1,966,767 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Hispanic / Latino 32% Asian 16% Two or more races 15% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 2%
• Foreign-born: 28% · Canada, China, Vietnam
• Languages at home: 58% English-only · Spanish 27% Chinese 5% Other Indo-European 2%

Political lean MEDSL · San Francisco

• 2024 margin: Solid D (+64.8) · D 80.3% · R 15.5% · Other 4.1%
• 2008→2024 swing: -5.7pp toward R · 2008: 70.5pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+72.5 2016: D+76.1 2012: D+70.2 2008: D+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1385.62%
• Current HPI: 267.2424
• Rent YoY: ▲ 14.54%
• 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

+377.7% since first listed

9 events — show timeline

• 2025-10-09 Listed $1,328,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-10-09 Listed $1,328,000 MLSListings
• 2024-09-16 Listed $1,359,000 San Francisco MLS
• 2019-06-11 Sold (MLS) $1,280,000 San Francisco MLS
• 2019-05-09 Pending — San Francisco MLS
• 2019-04-17 Relisted — San Francisco MLS
• 2019-04-05 Contingent — San Francisco MLS
• 2019-03-14 Listed $1,250,000 San Francisco MLS
• 1997-11-09 Listed $278,000 San Francisco MLS