7341 Lockwood St · Oakland, CA 94621

$399,999

4 bd · 2.0 ba · 1,414 sqft · MultiFamily public records · 179 Days on market

Built 1922 2,500 sqft lot $283/sqft · 36% below area Est $625k · 36% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• DSCR +4.4/10.0
• Rent growth +4.1/5.0
• 1% rule +3.8/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor Opportunity in Oakland! Well-maintained duplex featuring two tenant-occupied units with strong, reliable rental income and good long-term tenants already in place, cash flowing over $3K a month. The property is partially updated and offers a gated entrance for added security and privacy. The sewer lateral has been completed and is currently compliant with approximately 10 years of validity remaining, providing added peace of mind for investors. An excellent opportunity for investors seeking steady cash flow with value-add potential in a high-demand rental market. Ideal for those looking to expand their portfolio with a low-maintenance, income-producing property.

Key facts

• Partially updated
• Gated entrance
• Strong rental income

Tags

• GATED ENTRANCE
• TENANT-OCCUPIED UNITS
• STRONG RENTAL INCOME
• PARTIALLY UPDATED
• SEWER LATERAL COMPLETED

🏷️ Possibly a rental listed for sale. The $399,999 price doesn't fit this home's estimated sale value (~$625,345) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $351k (12.2% below list).
• Recommended offer: $351k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.4% in Oakland — 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 71/100 on livability (#224 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: schools C-, crime F, cost of living F.
• Oakland Unified (urban): math 27% / reading 33% proficiency, ranked #1,007 of 1,400 in CA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.5%/yr); 83 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $3,513/mo this rent would consume 81% of the median local household income ($52k/yr) (locally 2404% 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 $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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.
• Current owner paid $170k; list at $400k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $351,320 (12.2% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.88% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 9.5

CMA / ARV

• ARV (median comp): $625,345
• List price: $399,999
• Delta: -36.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6921 Flora St	0.41mi	4/2.0	1,374 (-3%)	4mo	$520,000	$378	73
1163 83rd Ave	0.63mi	4/2.0	1,470 (+4%)	3mo	$560,000	$381	62
6932 Macarthur Blvd	0.67mi	3/2.0 (-1)	1,476 (+4%)	16mo	$650,000	$440	43

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 · 6.45% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.58×
• Total profit: $-46,722
• Equity at exit: $59,641

10-year hold

• IRR: 2.4%
• Equity multiple: 1.20×
• Total profit: $21,973
• Equity at exit: $34,585

Cash invested: $112,000 (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 Oakland: 0 Strongly Tenant-Friendly · D+62

Rent Adjustment Program + Just Cause.

Methodology + full state rankings →

ZIP-level market 94621

• Rents YoY: 6.5%
• Active inventory: 83
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,513 high
• Mortgage (P&I): −$2,098
• Tax from tax record: −$425 /mo · $5,103/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$738
• Net cashflow: $86

Break-even live

Break-even rent $3,404

Max offer price $399,999

Occupancy floor 93%

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1715 82nd Ave Oakland, CA	3.0	2.0	1290	$3,000	$2.33	43d	1	0.41mi
8330 Birch St Unit C Oakland, CA	3.0	1.0	1000	$2,200	$2.20	5d	1	0.56mi
8109 Hillside St Oakland, CA	3.0	1.0	1182	$3,300	$2.79	43d	1	0.70mi
3337 64th Avenue Pl Oakland, CA	3.0	2.0	1410	$3,800	$2.70	11d	1	0.86mi
5834 Elizabeth St Oakland, CA	3.0	1.0	1050	$3,724	$3.55	43d	1	0.87mi
8027 Ney Ave Unit 1 Oakland, CA	4.0	2.0	1300	$4,413	$3.39	1d	1	0.92mi
1008 88th Ave Oakland, CA	3.0	1.0	1464	$3,400	$2.32	43d	1	0.96mi
8522 MacArthur Blvd Apt A Oakland, CA	3.0	1.0	900	$2,200	$2.44	43d	1	1.01mi
8600 MacArthur Blvd Apt C Oakland, CA	3.0	1.0	1200	$2,600	$2.17	43d	1	1.03mi
2456 88th Ave Oakland, CA	4.0	2.0	1250	$3,850	$3.08	43d	1	1.08mi
9220 Bancroft Ave Unit B Oakland, CA	3.0	1.0	960	$3,600	$3.75	43d	1	1.12mi
7724 Crest Ave Oakland, CA	3.0	1.0	1500	$3,300	$2.20	43d	1	1.14mi
3210 82nd Ave Oakland, CA	3.0	2.0	1462	$4,300	$2.94	20d	1	1.14mi
3849 Delmont Ave Oakland, CA	3.0	2.0	1496	$3,950	$2.64	43d	1	1.14mi
2456 Palmvilla Ct Oakland, CA	4.0	3.0	1373	$4,500	$3.28	1d	1	1.20mi
5307 Hillen Dr Oakland, CA	3.0	2.0	1831	$3,895	$2.13	5d	1	1.21mi
1724 96th Ave Oakland, CA	4.0	2.0	1743	$4,000	$2.29	1d	1	1.25mi
1211 98th Ave Unit 1211 Oakland, CA	4.0	2.0	1630	$3,300	$2.02	43d	1	1.36mi
6088 Old Quarry Loop #5207 Oakland, CA	4.0	3.0	1687	$4,250	$2.52	3d	1	1.43mi
1924 51st Ave Unit 3 Oakland, CA	3.0	2.0	1100	$6,800	$6.18	43d	1	1.49mi

Listing history 25 events

1. 2026-06-18
   days on market $399,999 Active 179 DOM
2. 2026-06-17
   days on market $399,999 Active 178 DOM
3. 2026-06-16
   days on market $399,999 Active 177 DOM
4. 2026-06-15
   days on market $399,999 Active 176 DOM
5. 2026-06-13
   days on market $399,999 Active 174 DOM
6. 2026-06-13
   days on market $399,999 Active 173 DOM
7. 2026-06-09
   days on market $399,999 Active 170 DOM
8. 2026-06-03
   days on market $399,999 Active 169 DOM
9. 2026-06-02
   days on market $399,999 Active 168 DOM
10. 2026-06-01
    days on market $399,999 Active 167 DOM
11. 2026-05-31
    days on market $399,999 Active 166 DOM
12. 2026-05-15
    historical Active Under Contract 679-char remark

    Show marketing remark (679 chars)

    Investor Opportunity in Oakland! Well-maintained duplex featuring two tenant-occupied units with strong, reliable rental income and good long-term tenants already in place, cash flowing over $3K a month. The property is partially updated and offers a gated entrance for added security and privacy. The sewer lateral has been completed and is currently compliant with approximately 10 years of validity remaining, providing added peace of mind for investors. An excellent opportunity for investors seeking steady cash flow with value-add potential in a high-demand rental market. Ideal for those looking to expand their portfolio with a low-maintenance, income-producing property.

13. 2026-05-15
    historical Active Under Contract 679-char remark

    Show marketing remark (679 chars)

    Investor Opportunity in Oakland! Well-maintained duplex featuring two tenant-occupied units with strong, reliable rental income and good long-term tenants already in place, cash flowing over $3K a month. The property is partially updated and offers a gated entrance for added security and privacy. The sewer lateral has been completed and is currently compliant with approximately 10 years of validity remaining, providing added peace of mind for investors. An excellent opportunity for investors seeking steady cash flow with value-add potential in a high-demand rental market. Ideal for those looking to expand their portfolio with a low-maintenance, income-producing property.

14. 2026-02-25
    status Active 679-char remark

    Show marketing remark (679 chars)

    Investor Opportunity in Oakland! Well-maintained duplex featuring two tenant-occupied units with strong, reliable rental income and good long-term tenants already in place, cash flowing over $3K a month. The property is partially updated and offers a gated entrance for added security and privacy. The sewer lateral has been completed and is currently compliant with approximately 10 years of validity remaining, providing added peace of mind for investors. An excellent opportunity for investors seeking steady cash flow with value-add potential in a high-demand rental market. Ideal for those looking to expand their portfolio with a low-maintenance, income-producing property.

15. 2026-02-25
    status Active 679-char remark

    Show marketing remark (679 chars)

    Investor Opportunity in Oakland! Well-maintained duplex featuring two tenant-occupied units with strong, reliable rental income and good long-term tenants already in place, cash flowing over $3K a month. The property is partially updated and offers a gated entrance for added security and privacy. The sewer lateral has been completed and is currently compliant with approximately 10 years of validity remaining, providing added peace of mind for investors. An excellent opportunity for investors seeking steady cash flow with value-add potential in a high-demand rental market. Ideal for those looking to expand their portfolio with a low-maintenance, income-producing property.

16. 2026-02-08
    historical Active Under Contract 679-char remark

    Show marketing remark (679 chars)

    Investor Opportunity in Oakland! Well-maintained duplex featuring two tenant-occupied units with strong, reliable rental income and good long-term tenants already in place, cash flowing over $3K a month. The property is partially updated and offers a gated entrance for added security and privacy. The sewer lateral has been completed and is currently compliant with approximately 10 years of validity remaining, providing added peace of mind for investors. An excellent opportunity for investors seeking steady cash flow with value-add potential in a high-demand rental market. Ideal for those looking to expand their portfolio with a low-maintenance, income-producing property.

17. 2026-02-08
    historical Active Under Contract 679-char remark

    Show marketing remark (679 chars)

    Investor Opportunity in Oakland! Well-maintained duplex featuring two tenant-occupied units with strong, reliable rental income and good long-term tenants already in place, cash flowing over $3K a month. The property is partially updated and offers a gated entrance for added security and privacy. The sewer lateral has been completed and is currently compliant with approximately 10 years of validity remaining, providing added peace of mind for investors. An excellent opportunity for investors seeking steady cash flow with value-add potential in a high-demand rental market. Ideal for those looking to expand their portfolio with a low-maintenance, income-producing property.

18. 2025-12-16
    listed $399,999 Active 679-char remark

    Show marketing remark (679 chars)

    Investor Opportunity in Oakland! Well-maintained duplex featuring two tenant-occupied units with strong, reliable rental income and good long-term tenants already in place, cash flowing over $3K a month. The property is partially updated and offers a gated entrance for added security and privacy. The sewer lateral has been completed and is currently compliant with approximately 10 years of validity remaining, providing added peace of mind for investors. An excellent opportunity for investors seeking steady cash flow with value-add potential in a high-demand rental market. Ideal for those looking to expand their portfolio with a low-maintenance, income-producing property.

19. 2025-12-16
    listed $399,999 Active 679-char remark

    Show marketing remark (679 chars)

    Investor Opportunity in Oakland! Well-maintained duplex featuring two tenant-occupied units with strong, reliable rental income and good long-term tenants already in place, cash flowing over $3K a month. The property is partially updated and offers a gated entrance for added security and privacy. The sewer lateral has been completed and is currently compliant with approximately 10 years of validity remaining, providing added peace of mind for investors. An excellent opportunity for investors seeking steady cash flow with value-add potential in a high-demand rental market. Ideal for those looking to expand their portfolio with a low-maintenance, income-producing property.

20. 2016-03-14
    soldstatus $170,000 Sold
21. 2015-06-26
    soldstatus $170,000 Closed
22. 2015-06-12
    status Pending
23. 2015-06-12
    status Pending
24. 2015-01-09
    listed $185,000 New
25. 2015-01-08
    listed $185,000 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: $5,103 · $425/mo
• Projected year-2 tax: $5,103 · $425/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,158
• − Mortgage interest: −$22,406
• − Property taxes: −$5,103
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,373
• − Management: −$3,373
• − Depreciation: −$11,636
• Taxable loss: −$5,732
• Est. tax savings @ 24.0%: +$1,376
• After-tax cash flow: $2,407/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: Oakland Unified
• NCES district ID: 0628050
• Math proficiency: 27% ▬ 0.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $55,194
• Composite: 29.52/100
• National rank: #11769
• State rank: #1007 of 1400 in CA

Livability — Oakland

• Score: 71/100
• State rank: #224
• US rank: #7245

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: Oakland, CA
• County: Alameda County · 1,614,355 people
• City population: 385,993
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 33,840
• Household income: $52,049
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 2404.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 24% Two or more races 14% White 6% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Italian 1%
• Foreign-born: 35% · Canada, China, Vietnam
• Languages at home: 40% English-only · Spanish 53% Arabic 2% Other Asian/Pacific 2%

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: ▼ -346.43%
• Current HPI: 523.2253
• Rent YoY: ▲ 6.45%
• 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

+116.2% since first listed

14 events — show timeline

• 2026-05-15 Contingent — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-15 Contingent — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-02-25 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-02-25 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-02-08 Contingent — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-02-08 Contingent — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-12-16 Listed $399,999 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-12-16 Listed $399,999 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2016-03-14 Sold (MLS) $170,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-06-26 Sold (MLS) $170,000 San Francisco MLS
• 2015-06-12 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-06-12 Pending — San Francisco MLS
• 2015-01-09 Listed $185,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-01-08 Listed $185,000 San Francisco MLS

Property tax history

+5.9%/yr

Latest (2025): $5,103 · +4.6% YoY. Source: county tax records.