2225 23rd St #315 · San Francisco, CA 94107

$459,000

1 bd · 1.0 ba · 602 sqft · Condo public records · 13 Days on market

Built 1989 $910/mo HOA · 24% of rent

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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).

• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Cash flow +5.4/30.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

TOP FLOOR 1BD/1BA Condo at Potrero Court! Immaculate, Bright, Quiet, East-Facing Overlooks Courtyard. Updated Kitchen/Bath, New Paint/Tile, Newer Appliances, Crown Moldings, Large Closet, 1-Car Garage Parking. Complex w/ Pool/Spa, Gym, Clubhouse, Laundry Fac. Near SF Gen'l Hospital, Hwy 101/280, Muni Buses 19/48, Restaurants, Bay Bridge, Fin'l Dist. Best priced 1/1/1 in the city!

Key facts

• Remodeled bathroom
• Swimming pool
• Updated kitchen

Tags

• POTRERO HILL LOCATION
• UPDATED KITCHEN
• REMODELED BATHROOM
• SWIMMING POOL
• JACUZZI
• 21ST CENTURY EQUIPPED GYM

Property features AI

Finance

• Other: Community of 132 units; Roads are public and paved
• HOA & community: HOA covers common areas, earthquake insurance, electricity, homeowners insurance, structure and grounds maintenance, management, pool, recreation facility, roof, sewer, trash and water; HOA amenities: gym, coin laundry, pool, spa/hot tub; Monthly HOA fee

Exterior

• Parking: Assigned, covered, enclosed parking with garage door opener; Attached garage (1 space); On-site parking
• Utilities: Electricity available; Public water; Public sewer
• Home design: Contemporary style; Condominium; One level; Built in 1989
• Construction: Property is attached; Bath updated within last 5 years
• Exterior features: Unit entry at ground level; Unit has units above and below; In-ground pool; Built-in spa / hot tub

Interior

• Kitchen: Dishwasher; Range hood
• Bedrooms: 1 bedroom
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Electric heating
• Interior features: Updated/remodeled condition; Intercom; Ground-floor laundry access
• Laundry & utility: Laundry on ground floor

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $459k.

Deal economics

• At list price, monthly cash flow is $-995 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (38.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $384k (16.3% below list).
• Recommended offer: $283k (38.3% below list) — sets the bar for cash-flow.
• Cap rate 3.7% 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 (+18.9%/yr); 140 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($3k loan paydown + $22k appreciation (4.8% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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: HOA is 24% of rent.

Recommended offer $283,248 (38.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.84% ✗
• Cap rate: 3.69%
• Cash-on-cash: -9.29%
• DSCR: 0.59
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.81% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.9%
• Equity multiple: 1.45×
• Total profit: $58,331
• Equity at exit: $254,809

10-year hold

• IRR: 11.3%
• Equity multiple: 3.21×
• Total profit: $283,438
• Equity at exit: $435,444

Cash invested: $128,520 (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 94107

• Home prices YoY: 2.6%
• Rents YoY: 18.9%
• Active inventory: 140
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,841 high
• Mortgage (P&I): −$2,407
• Tax from tax record: −$521 /mo · $6,256/yr
• Insurance: −$191
• HOA: −$910
• Vacancy / Maint / Mgmt: −$807
• Net cashflow: $-995

Break-even live

Break-even rent $5,101

Max offer price $283,248

Occupancy floor —

Sensitivity live

Price	-10% $-735	-5% $-865	+0% $-995	+5% $-1,125	+10% $-1,255
Rent	-10% $-1,298	-5% $-1,147	+0% $-995	+5% $-843	+10% $-691
Rate	-1.0pp $-764	-0.5pp $-878	base $-995	+0.5pp $-1,114	+1.0pp $-1,235

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: $114,750
• Closing costs: $13,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2250 24th St #121 San Francisco, CA	1.0	1.0	602	$3,623	$6.02	19d	1	0.02mi
2246 23rd St San Francisco, CA	1.0	1.0	650	$3,506	$5.39	44d	1	0.05mi
1395 22nd St San Francisco, CA	1.0–2.0	1.0–2.0	772	$5,123	$6.64	0d	3	0.46mi
2629 Folsom St Unit 106 San Francisco, CA	2.0	1.0	718	$4,395	$6.12	19d	1	0.67mi
2629 Folsom St Unit 204 San Francisco, CA	2.0	1.0	718	$4,095	$5.70	44d	1	0.67mi
2629 Folsom St Unit 105 San Francisco, CA	1.0	1.0	546	$3,100	$5.68	19d	1	0.67mi
800 Indiana St San Francisco, CA	3.0	1.0–2.5	952	$5,434	$5.71	0d	1	0.68mi
451 Kansas St #375 San Francisco, CA	1.0	1.0	661	$4,350	$6.58	19d	1	0.70mi
2823 18th St San Francisco, CA	1.0	1.0	519	$4,718	$9.08	3d	4	0.70mi
2660 3rd St San Francisco, CA	2.0	1.0–2.0	708	$5,682	$8.02	0d	6	0.75mi
88 Arkansas St #105 San Francisco, CA	1.0	1.0	604	$4,000	$6.62	44d	1	0.80mi
3241 23rd St Unit 3245-4 San Francisco, CA	—	1.0	450	$2,550	$5.67	15d	1	0.84mi
3140 21st St Unit 103 San Francisco, CA	—	1.0	500	$2,795	$5.59	6d	1	0.88mi
1010 16th St San Francisco, CA	2.0	1.0–2.0	963	$4,816	$5.00	3d	8	0.89mi
799 S Van Ness Ave San Francisco, CA	1.0–2.0	1.0	740	$3,800	$5.14	3d	2	0.92mi
291 15th St San Francisco, CA	1.0	1.0	550	$2,695	$4.90	25d	1	0.92mi
2121 3rd St San Francisco, CA	1.0–2.0	1.0–2.0	774	$6,103	$7.89	2d	4	0.95mi
603 Tennessee St Unit 202 San Francisco, CA	—	1.0	482	$3,995	$8.29	8d	1	0.97mi
601 Tennessee St San Francisco, CA	1.0	1.0	426	$3,695	$8.67	44d	2	0.98mi
2315 Mission St Unit 106 San Francisco, CA	1.0	1.0	450	$2,995	$6.66	8d	1	1.02mi
2315 Mission St San Francisco, CA	1.0	1.0	450	$2,995	$6.66	3d	1	1.02mi
257 San Jose Ave #1 San Francisco, CA	1.0	1.0	500	$2,999	$6.00	25d	1	1.07mi
1 Henry Adams St San Francisco, CA	3.0	2.0	873	$6,587	$7.54	2d	3	1.08mi
3321 21st St Apt 2 San Francisco, CA	—	1.0	350	$3,000	$8.57	3d	1	1.09mi
35 Hill St San Francisco, CA	1.0	1.0	674	$3,500	$5.19	8d	1	1.10mi
2874 16th St Unit 2872A San Francisco, CA	—	1.0	400	$2,450	$6.12	44d	1	1.14mi
3410 22nd St Apt 6 San Francisco, CA	2.0	1.0	720	$4,500	$6.25	3d	1	1.18mi
940 Guerrero St Unit 06 San Francisco, CA	1.0	1.0	520	$4,295	$8.26	25d	1	1.19mi
940 Guerrero St Unit 02 San Francisco, CA	1.0	1.0	550	$4,295	$7.81	17d	1	1.20mi
169 Fair Oaks St Unit 01 San Francisco, CA	2.0	2.0	750	$4,250	$5.67	44d	1	1.20mi
855 Brannan St San Francisco, CA	3.0	1.0–2.0	958	$5,133	$5.36	2d	5	1.25mi
218 Winfield St San Francisco, CA	2.0	1.0	600	$3,200	$5.33	44d	1	1.27mi
1532 Harrison St San Francisco, CA	2.0	1.0–2.0	617	$3,984	$6.46	3d	11	1.29mi
355 Berry St San Francisco, CA	1.0	1.0	707	$4,968	$7.02	2d	4	1.32mi
360 Berry St San Francisco, CA	1.0–2.0	1.0–2.0	842	$4,512	$5.36	2d	4	1.34mi
1600 15th St San Francisco, CA	1.0–2.0	1.0–2.0	792	$4,164	$5.25	4d	5	1.34mi
975 Bryant St San Francisco, CA	2.0	1.0–2.0	697	$4,814	$6.91	2d	10	1.34mi
1801 Mission St San Francisco, CA	1.0	1.0	446	$10,000	$22.42	44d	1	1.37mi
1201 4th St Unit 1297791P San Francisco, CA	1.0	1.0	742	$6,148	$8.29	16d	1	1.40mi
1222 Harrison St San Francisco, CA	2.0	1.0–2.5	853	$4,798	$5.62	3d	34	1.40mi

HOA detail condo

• Monthly dues: $910 · $10,920/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-14
   status Pending 847-char remark
2. 2026-05-01
   listed $459,000 Active 847-char remark
3. 2006-03-31
   soldstatus $384,000 382-char remark

   Show marketing remark (382 chars)

   TOP FLOOR 1BD/1BA Condo at Potrero Court! Immaculate, Bright, Quiet, East-Facing Overlooks Courtyard. Updated Kitchen/Bath, New Paint/Tile, Newer Appliances, Crown Moldings, Large Closet, 1-Car Garage Parking. Complex w/ Pool/Spa, Gym, Clubhouse, Laundry Fac. Near SF Gen'l Hospital, Hwy 101/280, Muni Buses 19/48, Restaurants, Bay Bridge, Fin'l Dist. Best priced 1/1/1 in the city!

4. 2006-03-31
   soldstatus $384,000

   Show marketing remark (382 chars)

   TOP FLOOR 1BD/1BA Condo at Potrero Court! Immaculate, Bright, Quiet, East-Facing Overlooks Courtyard. Updated Kitchen/Bath, New Paint/Tile, Newer Appliances, Crown Moldings, Large Closet, 1-Car Garage Parking. Complex w/ Pool/Spa, Gym, Clubhouse, Laundry Fac. Near SF Gen'l Hospital, Hwy 101/280, Muni Buses 19/48, Restaurants, Bay Bridge, Fin'l Dist. Best priced 1/1/1 in the city!

5. 2006-03-24
   historical 382-char remark

   Show marketing remark (382 chars)

   TOP FLOOR 1BD/1BA Condo at Potrero Court! Immaculate, Bright, Quiet, East-Facing Overlooks Courtyard. Updated Kitchen/Bath, New Paint/Tile, Newer Appliances, Crown Moldings, Large Closet, 1-Car Garage Parking. Complex w/ Pool/Spa, Gym, Clubhouse, Laundry Fac. Near SF Gen'l Hospital, Hwy 101/280, Muni Buses 19/48, Restaurants, Bay Bridge, Fin'l Dist. Best priced 1/1/1 in the city!

6. 2006-01-20
   listed $389,000 382-char remark

   Show marketing remark (382 chars)

   TOP FLOOR 1BD/1BA Condo at Potrero Court! Immaculate, Bright, Quiet, East-Facing Overlooks Courtyard. Updated Kitchen/Bath, New Paint/Tile, Newer Appliances, Crown Moldings, Large Closet, 1-Car Garage Parking. Complex w/ Pool/Spa, Gym, Clubhouse, Laundry Fac. Near SF Gen'l Hospital, Hwy 101/280, Muni Buses 19/48, Restaurants, Bay Bridge, Fin'l Dist. Best priced 1/1/1 in the city!

7. 1993-07-30
   soldstatus $9,500,000

ⓘ 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: $6,256 · $521/mo
• Projected year-2 tax: $6,256 · $521/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥78°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,097
• − Mortgage interest: −$25,711
• − Property taxes: −$6,256
• − Insurance: −$2,295
• − Repairs & maintenance: −$3,688
• − Management: −$3,688
• − HOA: −$10,920
• − Depreciation: −$13,353
• Taxable loss: −$19,813
• Est. tax savings @ 24.0%: +$4,755
• After-tax cash flow: $-7,184/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 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): 31,823
• Household income: $182,897
• Rent vs Own: 64.3% rent · 35.7% own
• Severe rent burden: 1851.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 45% Asian 32% Hispanic / Latino 13% Two or more races 12% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Foreign-born: 36% · China, Canada, Vietnam
• Languages at home: 59% English-only · Chinese 12% Spanish 9% Other Indo-European 5%

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: ▲ 4.81%
• Current HPI: 192.3569
• Rent YoY: ▲ 18.89%
• 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

-95.0% since first listed

8 events — show timeline

• 2026-06-02 Sold (MLS) $474,000 San Francisco MLS
• 2026-05-14 Pending — San Francisco MLS
• 2026-05-01 Listed $459,000 San Francisco MLS
• 2006-03-31 Sold (Public Records) $384,000 Public Records
• 2006-03-31 Sold (MLS) $384,000 San Francisco MLS
• 2006-03-24 Delisted — San Francisco MLS
• 2006-01-20 Listed $389,000 San Francisco MLS
• 1993-07-30 Sold (Public Records) $9,500,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $6,256 · +3.0% YoY. Source: county tax records.