285 Main St #409 · San Francisco, CA 94105

$420,091

1 bd · 1.0 ba · 567 sqft · Condo public records · 144 Days on market

Built 2020 Good condition $741/sqft · 26% below area Est $569k · 26% under $773/mo HOA · 17% of rent

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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
• Appreciation +7.1/10.0
• 1% rule +6.1/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0

Listing remarks MLS

1-bedroom Below Market Rate (BMR) housing opportunity at the MIRA (This unit is eligible for Temporary Waivers to Applicant's Eligibility Requirements (see below); at 100% Area Median Income (AMI). Maximum income for 1 person = $109,100; 2 = $124,700; 3 = $140,250; 4 = $155,850; 5 = $168,300 etc. One of the waivers is qualifying AMI of 120% as shown on SFMOHCD listing reflects the one-time 20% increase. Contact Listing Agent for more info about the Temporary waivers that apply. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. The unit will be available on a first come first served basis starting on 4/2/2026 at 8:00 AM PST. Please visit https://housing. sfgov.org/listings/a0W7y00000GM5npEAD to view the listing and for application & program info. Fair Housing Opportunity.

Key facts

• $773 HOA
• Built 2020
• Listed 143 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $420k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $420k).
• Recommended offer: $370k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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 (+19.7%/yr); 120 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $21k of equity ($3k loan paydown + $18k appreciation (4.3% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.3% appreciation + 8.0% rent growth), your $118k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($370k) is reasonable based on typical stale-listing flexibility.

Recommended offer $369,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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 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?
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: 1.11% ✓
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 7.5

CMA / ARV

• ARV (median comp): $569,402
• List price: $420,091
• Delta: -26.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

4.27% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 14.8%
• Equity multiple: 1.94×
• Total profit: $110,305
• Equity at exit: $219,617

10-year hold

• IRR: 18.5%
• Equity multiple: 4.38×
• Total profit: $397,322
• Equity at exit: $364,591

Cash invested: $117,625 (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 94105

• Home prices YoY: 2.4%
• Rents YoY: 19.7%
• Active inventory: 120
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $4,647 high
• Mortgage (P&I): −$2,203
• Tax from tax record: −$430 /mo · $5,158/yr
• Insurance: −$175
• HOA: −$773
• Vacancy / Maint / Mgmt: −$976
• Net cashflow: $91

Break-even live

Break-even rent $4,533

Max offer price $420,091

Occupancy floor 93%

Sensitivity live

Price	-10% $328	-5% $209	+0% $91	+5% $-28	+10% $-147
Rent	-10% $-277	-5% $-93	+0% $91	+5% $274	+10% $458
Rate	-1.0pp $302	-0.5pp $197	base $91	+0.5pp $-18	+1.0pp $-129

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: $105,023
• Closing costs: $12,603
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 Howard St San Francisco, CA	1.0	1.0	588	$4,950	$8.41	6d	10	0.12mi
333 Fremont St San Francisco, CA	1.0–2.0	1.0–2.0	937	$4,588	$4.90	3d	6	0.17mi
399 Fremont St San Francisco, CA	2.0	1.0–2.5	1077	$7,300	$6.77	2d	43	0.19mi
201 Harrison St Unit 3A San Francisco, CA	1.0	1.0	572	$1,900	$3.32	22d	1	0.19mi
340 Fremont St San Francisco, CA	3.0	1.0–3.0	1146	$5,697	$4.97	2d	5	0.21mi
500 Folsom St San Francisco, CA	1.0	1.0	676	$6,947	$10.28	3d	18	0.24mi
38 Bryant St #806 San Francisco, CA	1.0	1.0	582	$3,995	$6.86	44d	1	0.25mi
390 1st St San Francisco, CA	2.0	1.0–2.0	676	$5,814	$8.60	3d	11	0.29mi
39 Tehama St San Francisco, CA	1.0–2.0	1.0–2.0	1291	$4,760	$3.69	2d	14	0.30mi
45 Lansing St San Francisco, CA	1.0	1.0	640	$5,260	$8.21	2d	4	0.30mi
3 Bayside Village Pl San Francisco, CA	1.0	1.0	599	$4,964	$8.28	2d	22	0.33mi
501 Delancey St #182 San Francisco, CA	1.0	1.0	640	$3,200	$5.00	15d	1	0.34mi
1 St Francis Pl San Francisco, CA	3.0	1.0–2.0	923	$4,345	$4.71	3d	2	0.54mi
2 Townsend St San Francisco, CA	1.0–2.0	1.0–2.0	786	$4,800	$6.11	3d	7	0.56mi
460 Davis Ct San Francisco, CA	3.0	1.0–2.5	907	$6,040	$6.66	2d	17	0.58mi
88 Townsend St #311 San Francisco, CA	1.0	1.0	632	$4,450	$7.04	25d	1	0.63mi
555 Bryant St San Francisco, CA	2.0	1.0–2.0	687	$5,220	$7.60	2d	10	0.74mi
821 Folsom St #401 San Francisco, CA	1.0	1.0	652	$3,650	$5.60	25d	1	0.78mi
829 Folsom St #408 San Francisco, CA	—	1.0	495	$2,860	$5.78	15d	1	0.81mi
540 Stockton St Apt 8 San Francisco, CA	2.0	1.0	725	$5,370	$7.41	3d	1	0.83mi
535 Stockton St San Francisco, CA	—	1.0	394	$2,295	$5.82	44d	1	0.85mi
655 Stockton St San Francisco, CA	—	1.0	354	$3,720	$10.51	2d	2	0.87mi
707 Stockton St San Francisco, CA	—	1.0	400	$2,775	$6.94	4d	1	0.88mi
845 California St San Francisco, CA	1.0	1.0	476	$4,995	$10.49	8d	3	0.90mi
400 Clementina St #1449 San Francisco, CA	1.0–2.0	1.0–2.0	775	$3,970	$5.12	2d	2	0.94mi
255 King St San Francisco, CA	3.0	1.0–2.5	1228	$5,620	$4.58	3d	1	0.94mi
1142-1146 Montgomery St Unit 1142-A San Francisco, CA	1.0	1.0	709	$4,995	$7.05	25d	1	0.94mi
900 Folsom St San Francisco, CA	2.0	1.0–2.0	863	$5,020	$5.82	2d	24	0.95mi
737 Bush St San Francisco, CA	1.0	1.0	750	$2,595	$3.46	15d	1	0.95mi
776 Bush St San Francisco, CA	—	1.0	400	$1,900	$4.75	44d	1	0.99mi
1023 3rd St San Francisco, CA	2.0	1.0–2.0	743	$7,675	$10.33	2d	13	0.99mi
434 Minna St San Francisco, CA	2.0	1.0–2.0	719	$5,246	$7.29	2d	15	1.00mi
929 Pine St San Francisco, CA	—	1.0	400	$2,150	$5.38	8d	1	1.05mi
960 Market St San Francisco, CA	1.0	1.0	613	$4,295	$7.01	22d	1	1.07mi
950 Pine St San Francisco, CA	—	1.0	750	$2,650	$3.53	17d	1	1.08mi
555 Taylor St San Francisco, CA	—	1.0	477	$2,200	$4.61	44d	1	1.10mi
701 Taylor St San Francisco, CA	—	1.0	423	$2,875	$6.80	3d	1	1.11mi
1426 Stockton St San Francisco, CA	—	1.0	700	$3,100	$4.43	44d	1	1.11mi
673 Brannan St San Francisco, CA	1.0–5.0	1.0–2.0	1302	$3,912	$3.00	2d	2	1.12mi
300 Berry St #907 San Francisco, CA	1.0	1.0	732	$5,000	$6.83	8d	1	1.13mi

HOA detail condo

• Monthly dues: $773 · $9,276/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $420,091 Active 144 DOM
2. 2026-06-17
   days on market $420,091 Active 143 DOM
3. 2026-06-16
   days on market $420,091 Active 142 DOM
4. 2026-06-15
   days on market $420,091 Active 141 DOM
5. 2026-06-13
   days on market $420,091 Active 139 DOM
6. 2026-06-13
   days on market $420,091 Active 138 DOM
7. 2026-06-09
   days on market $420,091 Active 135 DOM
8. 2026-06-08
   days on market $420,091 Active 134 DOM
9. 2026-06-07
   days on market $420,091 Active 133 DOM
10. 2026-06-04
    days on market $420,091 Active 130 DOM
11. 2026-06-03
    days on market $420,091 Active 129 DOM
12. 2026-06-02
    days on market $420,091 Active 128 DOM
13. 2026-06-01
    days on market $420,091 Active 127 DOM
14. 2026-05-31
    days on market $420,091 Active 126 DOM
15. 2026-01-25
    listed $420,091 Active 949-char remark

    Show marketing remark (949 chars)

    1-bedroom Below Market Rate (BMR) housing opportunity at the MIRA (This unit is eligible for Temporary Waivers to Applicant's Eligibility Requirements (see below); at 100% Area Median Income (AMI). Maximum income for 1 person = $109,100; 2 = $124,700; 3 = $140,250; 4 = $155,850; 5 = $168,300 etc. One of the waivers is qualifying AMI of 120% as shown on SFMOHCD listing reflects the one-time 20% increase. Contact Listing Agent for more info about the Temporary waivers that apply. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. The unit will be available on a first come first served basis starting on 4/2/2026 at 8:00 AM PST. Please visit https://housing. sfgov.org/listings/a0W7y00000GM5npEAD to view the listing and for application & program info. Fair Housing Opportunity.

ⓘ 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: $5,158 · $430/mo
• Projected year-2 tax: $5,158 · $430/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 ≥79°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: $55,769
• − Mortgage interest: −$23,532
• − Property taxes: −$5,158
• − Insurance: −$2,100
• − Repairs & maintenance: −$4,462
• − Management: −$4,462
• − HOA: −$9,276
• − Depreciation: −$12,221
• Taxable loss: −$5,441
• Est. tax savings @ 24.0%: +$1,306
• After-tax cash flow: $2,393/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 · 12 photos

Good 80/100 Cosmetic rehab

This modern, well-maintained condo is in excellent condition with minimal repairs needed. It's an ideal below-market-rate housing opportunity.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Clean windows — Improves natural light and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Clean windows — Improves natural light and resale value ↑

ⓘ 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): 13,861
• Household income: $225,000
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 798.0

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 0.61)
• Race & ethnicity: Asian 53% White 31% Hispanic / Latino 9% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 4% Scotch-Irish 2% Romanian 2%
• Foreign-born: 45% · China, Canada, South Korea
• Languages at home: 52% English-only · Chinese 22% Other Indo-European 6% Spanish 6%

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: ▲ 4.27%
• Current HPI: 179.3791
• Rent YoY: ▲ 19.74%
• 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

1 event — show timeline

• 2026-01-25 Listed $420,091 San Francisco MLS

Property tax history

+12.8%/yr

Latest (2025): $5,158 · +3.2% YoY. Source: county tax records.