4069-4077 Goldfinch St · San Diego, CA 92103

$9,995,000

609 bd · 567.0 ba · 15,620 sqft · MultiFamily · 91 Days on market

Built 2000 0.46 ac lot ↓ 2% since listing

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Why this score? — see what drove the D- 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 +13.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 21 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

Price reduced to $9,995,000. First time on the market—an exceptional and rare 21-unit, condo-quality asset in the heart of Mission Hills. This trophy investment offers immediate and substantial upside. Current rents are approximately $1,000 below market per unit, creating a clear path to increased cash flow. Positioned for a sophisticated value-add investor, the property presents multiple strategies to unlock value. These include potentially converting 16 garages into additional units (subject to approvals) or undertaking a full-scale renovation and repositioning to achieve premium market rents. Residents enjoy a highly desirable amenity package: gated entry, 15 open parking spaces, 1

Key facts

• Private balconies
• Gated access
• Community bbq decks

Tags

• GATED ACCESS
• PRIVATE BALCONIES
• WORKING FIREPLACES
• ELEVATOR ACCESS
• ON-SITE LAUNDRY
• COMMUNITY BBQ DECKS

Property features AI

Exterior

• Parking: 31 parking spaces; Garage parking
• Home design: Residential income property (Commercial-Residential income subtype); Zoned RM-3-7
• Construction: Composition and tile roof
• Exterior features: Partially fenced with wood fencing; Landscaped lot

Interior

• Bathrooms: 25 full bathrooms; 4 half bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Elevator; Central air conditioning

What this means for you Summary

Snapshot

• This is a 21 × 29-bed/27.0-bath units multifamily listed at $9.99M.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive. Per door: $25/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $7.68M (23.2% below list).
• Recommended offer: $7.68M (23.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.0% in San Diego — 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 75/100 on livability (#123 in CA, #4,206 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, crime D+, cost of living F.
• San Diego Unified (urban): math 19% / reading 29% proficiency, ranked #393 of 517 in CA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.2%/yr); 216 active listings in the ZIP; solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $76,804/mo this rent would consume 898% of the median local household income ($103k/yr) (locally 2543% 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 $69k of loan paydown is wiped out by about $300k of value loss. Plan a longer hold.
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($9.10M) is reasonable based on typical stale-listing flexibility.

Recommended offer $7,680,400 (23.2% 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 23% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.77% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.38×
• Total profit: $-1,724,468
• Equity at exit: $1,490,287

10-year hold

• IRR: -13.2%
• Equity multiple: 0.28×
• Total profit: $-2,005,958
• Equity at exit: $864,185

Cash invested: $2,798,600 (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 92103

• Rents YoY: 1.2%
• Active inventory: 216
• Price-to-rent: 227.7×

Monthly cashflow live

• Estimated rent: $76,804 medium
• Mortgage (P&I): −$52,415
• Tax from tax record: −$3,575 /mo · $42,904/yr
• Insurance: −$4,165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$16,129
• Net cashflow: $520

Break-even live

Break-even rent $76,145

Max offer price $9,995,000

Occupancy floor 94%

Sensitivity live

Price	-10% $6,178	-5% $3,349	+0% $520	+5% $-2,309	+10% $-5,138
Rent	-10% $-5,547	-5% $-2,513	+0% $520	+5% $3,554	+10% $6,588
Rate	-1.0pp $5,554	-0.5pp $3,063	base $520	+0.5pp $-2,070	+1.0pp $-4,704

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

Units	Beds	Baths	Est. rent
▸ 21× units	29	27	$76,797
Total (21 units)			$76,804

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: $2,498,750
• Closing costs: $299,850
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $9,995,000 Active 91 DOM
2. 2026-06-17
   days on market $9,995,000 Active 90 DOM
3. 2026-06-16
   days on market $9,995,000 Active 89 DOM
4. 2026-06-15
   days on market $9,995,000 Active 88 DOM
5. 2026-06-13
   days on market $9,995,000 Active 86 DOM
6. 2026-06-09
   days on market $9,995,000 Active 82 DOM
7. 2026-06-08
   days on market $9,995,000 Active 81 DOM
8. 2026-06-07
   days on market $9,995,000 Active 80 DOM
9. 2026-06-04
   pricedays on market $9,995,000 Active 77 DOM
10. 2026-06-03
    days on market $10,250,000 Active 76 DOM
11. 2026-06-02
    days on market $10,250,000 Active 75 DOM
12. 2026-06-01
    days on market $10,250,000 Active 74 DOM
13. 2026-05-31
    days on market $10,250,000 Active 73 DOM
14. 2026-05-04
    price $10,250,000
15. 2026-03-19
    listed $10,500,000 Active

ⓘ 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: $42,904 · $3,575/mo
• Projected year-2 tax: $75,962 · $6,330/mo
• Expected delta: +$33,058/yr (+$2,755/mo · 77.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $921,648
• − Mortgage interest: −$559,875
• − Property taxes: −$42,904
• − Insurance: −$49,975
• − Repairs & maintenance: −$73,732
• − Management: −$73,732
• − Depreciation: −$290,764
• Taxable loss: −$169,333
• Est. tax savings @ 24.0%: +$40,640
• After-tax cash flow: $46,885/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 Diego Unified
• NCES district ID: 0634320
• Math proficiency: 19% ▼ -29.00%
• Reading proficiency: 29% ▼ -28.00%
• Median HH income: $61,673
• Composite: 22.31/100
• National rank: #8135
• State rank: #393 of 517 in CA

Livability — San Diego

• Score: 75/100
• State rank: #123
• US rank: #4206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Diego, CA
• County: San Diego County · 3,178,799 people
• City population: 1,397,612
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 34,836
• Household income: $102,626
• Rent vs Own: 64.8% rent · 35.2% own
• Severe rent burden: 2543.0

Population outlook (San Diego County) Hauer SSP2

• Today (2025): 3,678,185 people
• By 2030: 3,856,546 · +4.8%
• By 2040: 4,171,407 · +13.4%
• By 2050: 4,421,607 · +20.2%
• By 2075: 4,831,599 · +31.4%
• By 2100: 4,832,502 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 20% Two or more races 10% Asian 7% Black 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 15% · Canada, China
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 2% Chinese 2%

Political lean MEDSL · San Diego

• 2024 margin: D (+16.8) · D 56.9% · R 40.1% · Other 2.9%
• 2008→2024 swing: +6.6pp toward D · 2008: 10.2pp · 2024: 16.8pp
• All cycles: 2024: D+16.8 2020: D+22.8 2016: D+17.8 2012: D+5.1 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -723.82%
• Current HPI: 256.0844
• Rent YoY: ▲ 1.24%
• Metro: San Diego-Chula Vista-Carlsbad, 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

-2.4% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $10,250,000 SDMLS
• 2026-03-19 Listed $10,500,000 SDMLS

Property tax history

+5.2%/yr

Latest (2025): $42,904 · +3.9% YoY. Source: county tax records.