205 Pacific Ave #213 · Rodeo, CA 94572

$899,000

12 bd · 20.0 ba · 6,352 sqft · MultiFamily · 91 Days on market

Built 1947 Average condition 5,101 sqft lot $142/sqft · 38% above area Est $650k · 38% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Unique opportunity to own a mixed-use income property in the heart of charming downtown Rodeo. This distinctive building offers stable investment income with a diverse tenant mix. The property consists of four units with three long-term tenants providing reliable cash flow. Tenants include a small church, a local bait and tackle shop, a downstairs studio apartment, and an upstairs three-bedroom apartment that could also function as office or flexible workspace. This diverse mix of commercial and residential uses provides multiple income streams and helps create a stable investment profile. The property operates with low expenses and offers a strong cap rate, making it attractive to investors seeking dependable returns. Located just two blocks from the San Francisco Bay, the property benefits from proximity to waterfront recreation and the local fishing community. It is also positioned along the I-80 corridor approximately 25 miles east of San Francisco, providing convenient access to the greater Bay Area. The building sits within downtown Rodeo, a small community known for its charm, local businesses, and walkable streets near the bay. The area continues to attract small business owners, residents, and visitors looking for an authentic waterfront town atmosphere. With established tenants, strong income potential, and a prime location near the bay and major transportation corridor, this property represents an excellent investment opportunity in the East Bay.

Key facts

• Long-term tenants
• Strong cap rate
• 5,101 sq ft lot

Tags

• MIXED-USE INCOME PROPERTY
• LONG-TERM TENANTS
• DOWNSTAIRS STUDIO APARTMENT
• MULTIPLE INCOME STREAMS
• STRONG CAP RATE
• LOCAL FISHING COMMUNITY

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/5.0-bath units multifamily listed at $899k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $4k ($49k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $899k).
• Recommended offer: $818k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#542 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing B+; Watch: crime C-, amenities F, cost of living F.
• John Swett Unified (suburban): math 26% / reading 38% proficiency, ranked #899 of 1,400 in CA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rodeo Hills Elementary (571 students, 78% FRL); Carquinez Middle (254 students, 80% FRL); John Swett High (380 students, 62% FRL) — zoned schools average 73% FRL vs 55% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 15 active listings in the ZIP; 2,169 units permitted in Contra Costa County in 2024 (896 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• Contra Costa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($818k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $818,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 1947 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.46% ✓
• Cap rate: 11.80%
• Cash-on-cash: 19.66%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (median comp): $650,000
• List price: $899,000
• Delta: 38.31%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.7%
• Equity multiple: 1.47×
• Total profit: $117,204
• Equity at exit: $134,044

10-year hold

• IRR: 20.7%
• Equity multiple: 2.75×
• Total profit: $441,107
• Equity at exit: $77,729

Cash invested: $251,720 (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 94572

• Active inventory: 15
• Price-to-rent: 22.9×

Monthly cashflow live

• Estimated rent: $13,085 high
• Mortgage (P&I): −$4,714
• Tax est. 1.5%: −$1,124 /mo · $13,485/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,748
• Net cashflow: $4,124

Break-even live

Break-even rent $7,864

Max offer price $899,000

Occupancy floor 63%

Sensitivity live

Price	-10% $4,746	-5% $4,435	+0% $4,124	+5% $3,814	+10% $3,503
Rent	-10% $3,091	-5% $3,608	+0% $4,124	+5% $4,641	+10% $5,158
Rate	-1.0pp $4,577	-0.5pp $4,353	base $4,124	+0.5pp $3,891	+1.0pp $3,654

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	5	$13,084
Total (4 units)			$13,085

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-13
   statusdays on market $899,000 Pending 91 DOM
2. 2026-06-09
   days on market $899,000 Contingent (Show) 89 DOM
3. 2026-06-08
   days on market $899,000 Contingent (Show) 88 DOM
4. 2026-06-07
   days on market $899,000 Contingent (Show) 87 DOM
5. 2026-06-04
   days on market $899,000 Contingent (Show) 84 DOM
6. 2026-06-03
   days on market $899,000 Contingent (Show) 83 DOM
7. 2026-06-02
   days on market $899,000 Contingent (Show) 82 DOM
8. 2026-06-01
   days on market $899,000 Contingent (Show) 81 DOM
9. 2026-05-31
   days on market $899,000 Contingent (Show) 80 DOM
10. 2026-05-12
    historical Contingent (Show) 1482-char remark

    Show marketing remark (1482 chars)

    Unique opportunity to own a mixed-use income property in the heart of charming downtown Rodeo. This distinctive building offers stable investment income with a diverse tenant mix. The property consists of four units with three long-term tenants providing reliable cash flow. Tenants include a small church, a local bait and tackle shop, a downstairs studio apartment, and an upstairs three-bedroom apartment that could also function as office or flexible workspace. This diverse mix of commercial and residential uses provides multiple income streams and helps create a stable investment profile. The property operates with low expenses and offers a strong cap rate, making it attractive to investors seeking dependable returns. Located just two blocks from the San Francisco Bay, the property benefits from proximity to waterfront recreation and the local fishing community. It is also positioned along the I-80 corridor approximately 25 miles east of San Francisco, providing convenient access to the greater Bay Area. The building sits within downtown Rodeo, a small community known for its charm, local businesses, and walkable streets near the bay. The area continues to attract small business owners, residents, and visitors looking for an authentic waterfront town atmosphere. With established tenants, strong income potential, and a prime location near the bay and major transportation corridor, this property represents an excellent investment opportunity in the East Bay.

11. 2026-03-12
    listed $899,000 Active 1482-char remark

    Show marketing remark (1482 chars)

    Unique opportunity to own a mixed-use income property in the heart of charming downtown Rodeo. This distinctive building offers stable investment income with a diverse tenant mix. The property consists of four units with three long-term tenants providing reliable cash flow. Tenants include a small church, a local bait and tackle shop, a downstairs studio apartment, and an upstairs three-bedroom apartment that could also function as office or flexible workspace. This diverse mix of commercial and residential uses provides multiple income streams and helps create a stable investment profile. The property operates with low expenses and offers a strong cap rate, making it attractive to investors seeking dependable returns. Located just two blocks from the San Francisco Bay, the property benefits from proximity to waterfront recreation and the local fishing community. It is also positioned along the I-80 corridor approximately 25 miles east of San Francisco, providing convenient access to the greater Bay Area. The building sits within downtown Rodeo, a small community known for its charm, local businesses, and walkable streets near the bay. The area continues to attract small business owners, residents, and visitors looking for an authentic waterfront town atmosphere. With established tenants, strong income potential, and a prime location near the bay and major transportation corridor, this property represents an excellent investment opportunity in the East Bay.

ⓘ 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: $157,020
• − Mortgage interest: −$50,358
• − Property taxes: −$13,485
• − Insurance: −$4,495
• − Repairs & maintenance: −$12,562
• − Management: −$12,562
• − Depreciation: −$26,153
• Taxable income: $37,406
• Est. tax owed @ 24.0%: −$8,977
• After-tax cash flow: $40,515/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 · 14 photos

Average 55/100 Moderate rehab

This multi-family property offers a mix of commercial and residential uses, providing multiple income streams. While the property is in average condition, it requires moderate repairs and maintenance to improve its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Cabinets show signs of wear but are still functional.
• Minor Bathroom fixtures — Fixtures show signs of wear but are still functional.
• Moderate Exterior paint — Paint appears weathered and may need repainting.
• Moderate HVAC units — Units may need maintenance or replacement.

Value-add opportunities

• Both Paint exterior and interior walls — Fresh paint can improve the home's curb appeal and interior aesthetics, attracting more potential tenants or buyers.
• Both Replace worn flooring — New flooring can improve the home's appearance and functionality, making it more attractive to potential tenants or buyers.
• Both Replace worn fixtures — Fresh fixtures can improve the home's functionality and aesthetics, making it more attractive to potential tenants or buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Cabinets show signs of wear but are still functional.	Minor	$500–3,000
Bathroom fixtures · Fixtures show signs of wear but are still functional.	Minor	$500–3,000
Exterior paint · Paint appears weathered and may need repainting.	Moderate	$3,000–15,000
HVAC units · Units may need maintenance or replacement.	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$7,000–36,000

Value-add ROI direction

• Both Paint exterior and interior walls — Fresh paint can improve the home's curb appeal and interior aesthetics, attracting more potential tenants or buyers. ↑
• Both Replace worn flooring — New flooring can improve the home's appearance and functionality, making it more attractive to potential tenants or buyers. ↑
• Both Replace worn fixtures — Fresh fixtures can improve the home's functionality and aesthetics, making it more attractive to potential tenants or buyers. ↑

ⓘ 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: John Swett Unified
• NCES district ID: 0618990
• Math proficiency: 26% ▬ 0.00%
• Reading proficiency: 38% ▲ 1.00%
• Median HH income: $70,527
• Composite: 32.55/100
• National rank: #10824
• State rank: #899 of 1400 in CA

Livability — Rodeo

• Score: 61/100
• State rank: #542
• US rank: #18063

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rodeo, CA
• Population (ZIP): 8,712

Population outlook (Contra Costa County) Hauer SSP2

• Today (2025): 1,287,720 people
• By 2030: 1,364,937 · +6.0%
• By 2040: 1,506,209 · +17.0%
• By 2050: 1,624,373 · +26.1%
• By 2075: 1,853,193 · +43.9%
• By 2100: 1,901,231 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.79)
• Race & ethnicity: Hispanic / Latino 27% White 26% Asian 22% Black 15% Two or more races 11% Pacific Islander 1%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 23% · Canada, China
• Languages at home: 66% English-only · Spanish 16% Tagalog/Filipino 8% Other Indo-European 4%

Political lean MEDSL · Contra Costa

• 2024 margin: Solid D (+38.0) · D 67.3% · R 29.4% · Other 3.3%
• 2008→2024 swing: +0.2pp no change · 2008: 37.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+45.3 2016: D+43.5 2012: D+33.7 2008: D+37.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -486.91%
• Current HPI: 142.1347
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-05-12 Contingent — BAREIS
• 2026-03-12 Listed $899,000 BAREIS