667 10th St · Oakland, CA 94607

$895,000

28 bd · 16.0 ba · 4,816 sqft · MultiFamily public records · 23 Days on market

Built 1909 2,298 sqft lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• 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: 4 units. confirmed

Listing remarks

A 1909 Victorian fourplex in the heart of downtown Oakland, priced at $186/SF in one of the city's most central addresses. The building carries its original character — bay windows, built-in cabinetry, hardwood floors — and the new 2025 roof takes the largest near-term capital item off the table. Gross annual rents of $96,756 grow to $125,484 at market as the vacant 2BR leases at $2,700 and the long-tenured 3BR turns toward $3,200, lifting net operating income from $58,000 to $82,000. Four electric meters and three gas meters keep operations clean, with the owner paying only garbage. The studio and adjacent 2BR can be combined into a larger unit, and the property's downtown mixe

Key facts

• Victorian fourplex
• Built-in cabinetry
• Bay windows

Tags

• VICTORIAN FOURPLEX
• BAY WINDOWS
• BUILT-IN CABINETRY
• HARDWOOD FLOORS
• NEW ROOF
• DOWNTOWN MIXED-USE ZONING

Property features AI

Finance

• Other: Zoned D-DT-RX
• Financial info: Four-unit property (quadruplex)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Individual electric meter; Separate water meters
• Home design: Residential income property (quadruplex); Built in 1909
• Construction: Frame construction with wood siding
• Exterior features: Patio; Front porch; Partial fencing; Level, paved lot

Interior

• Kitchen: Gas water heater
• Flooring: Vinyl flooring; Carpet
• Bathrooms: Each of the four units has 1 bathroom
• Heating & cooling: Electric heating; Floor furnace; No air conditioning
• Interior features: Tub with shower over; Back yard
• Laundry & utility: Washer and dryer on site; Individual electric meter for units; Separate water meters

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $895k.

Deal economics

• At list price, monthly cash flow is $6k ($71k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $895k).
• Recommended offer: $882k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.3% 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 (+3.2%/yr); 133 active listings in the ZIP; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $14,430/mo this rent would consume 183% of the median local household income ($95k/yr) (locally 2002% 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 $6k of loan paydown is wiped out by about $27k 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $251k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($882k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $881,575 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.61% ✓
• Cap rate: 14.26%
• Cash-on-cash: 28.46%
• DSCR: 2.27
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: 22.9%
• Equity multiple: 1.94×
• Total profit: $236,762
• Equity at exit: $133,447

10-year hold

• IRR: 31.0%
• Equity multiple: 3.82×
• Total profit: $707,052
• Equity at exit: $77,383

Cash invested: $250,600 (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 94607

• Rents YoY: 3.2%
• Active inventory: 133
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $14,430 medium
• Mortgage (P&I): −$4,693
• Tax from tax record: −$390 /mo · $4,681/yr
• Insurance: −$373
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,030
• Net cashflow: $5,943

Break-even live

Break-even rent $6,907

Max offer price $895,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$14,428
Total (4 units)			$14,430

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: $223,750
• Closing costs: $26,850
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $895,000 Active 23 DOM
2. 2026-06-17
   days on market $895,000 Active 22 DOM
3. 2026-06-16
   days on market $895,000 Active 21 DOM
4. 2026-06-15
   days on market $895,000 Active 20 DOM
5. 2026-06-13
   days on market $895,000 Active 18 DOM
6. 2026-06-13
   days on market $895,000 Active 17 DOM
7. 2026-06-09
   days on market $895,000 Active 14 DOM
8. 2026-06-08
   days on market $895,000 Active 13 DOM
9. 2026-06-07
   days on market $895,000 Active 12 DOM
10. 2026-06-04
    days on market $895,000 Active 9 DOM
11. 2026-06-03
    days on market $895,000 Active 8 DOM
12. 2026-06-02
    days on market $895,000 Active 7 DOM
13. 2026-06-01
    days on market $895,000 Active 6 DOM
14. 2026-05-31
    days on market $895,000 Active 5 DOM
15. 2026-05-26
    listed $895,000 Active
16. 2026-04-03
    historical
17. 2026-02-05
    listed Active
18. 2025-12-12
    historical
19. 2025-10-10
    listed 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: $4,681 · $390/mo
• Projected year-2 tax: $6,802 · $567/mo
• Expected delta: +$2,121/yr (+$177/mo · 45.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥82°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $173,160
• − Mortgage interest: −$50,134
• − Property taxes: −$4,681
• − Insurance: −$4,475
• − Repairs & maintenance: −$13,853
• − Management: −$13,853
• − Depreciation: −$26,036
• Taxable income: $60,128
• Est. tax owed @ 24.0%: −$14,431
• After-tax cash flow: $56,888/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): 28,804
• Household income: $94,863
• Rent vs Own: 69.9% rent · 30.1% own
• Severe rent burden: 2002.0

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: Highly diverse neighborhood (Simpson 0.78)
• Race & ethnicity: Black 29% White 25% Asian 25% Hispanic / Latino 13% Two or more races 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 1% Romanian 1% Portuguese 1%
• Foreign-born: 28% · China, Canada, Vietnam
• Languages at home: 65% English-only · Chinese 16% Spanish 8% Arabic 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: ▼ -170.49%
• Current HPI: 263.5885
• Rent YoY: ▲ 3.24%
• 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

5 events — show timeline

• 2026-05-26 Listed $895,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-03 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-02-05 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-12-12 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-10-10 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+5.5%/yr

Latest (2025): $4,681 · +6.3% YoY. Source: county tax records.