1918 Lafayette St · Alameda, CA 94501

$745,000

None bd · 5.0 ba · 1,932 sqft · MultiFamily public records · 1 Days on market

Built 1894 4,764 sqft lot Est $1072k · 31% 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 +14.2/30.0
• Schools +5.9/10.0
• DSCR +4.3/10.0
• Rent growth +3.4/5.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• 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: 2 units. confirmed

Listing remarks MLS

CHARMING OLD VICTORIAN. TWO CLEAN UNITS. GREAT LOCATION/AREA. THIS IS AN REO, NEW ON MARKET.

Key facts

• 4,764 sq ft lot
• Built 1894

Property features AI

Finance

• Financial info: Two-unit income property

Exterior

• Parking: Off-street parking; 2 parking spaces total (1 space allocated to each unit)
• Utilities: Individual electric meter; Individual gas meter
• Home design: Residential income duplex; Originally built in 1894
• Construction: Wood construction
• Exterior features: Back yard; Side yard; Storage; Fenced; Level lot

Interior

• Kitchen: Dishwasher (some units)
• Bedrooms: Duplex (2 total units)
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: Unit 1: 1 bathroom; Unit 2: 1.5 bathrooms
• Heating & cooling: Natural gas heating; No air conditioning
• Interior features: Apartment-style basement; Deck (some units); Dishwasher (some units); Storage; Back yard; Side yard; Fenced
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $745k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive. Per door: $61/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 $620k (16.8% below list).
• Recommended offer: $620k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 1.7% in Alameda — 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 68/100 on livability (#281 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety B+; Watch: crime F, amenities F, cost of living F.
• Alameda Unified (suburban): math 59% / reading 70% proficiency, ranked #149 of 1,400 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Love Elementary (471 students, 49% FRL); Will C. Wood Middle (610 students, 55% FRL); Alameda High (1,802 students, 31% FRL) — zoned schools average 45% FRL vs 25% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 177 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $6,196/mo this rent would consume 58% of the median local household income ($128k/yr) (locally 3146% 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 $5k of loan paydown is wiped out by about $22k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $200k; list at $745k implies a 272% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $619,600 (16.8% 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 1894 — 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. 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. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.70%
• DSCR: 1.03
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $1,072,260
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1421 Chestnut St	0.38mi	4/2.0	1,719 (-11%)	7mo	$1,050,000	$611	46
1822 San Antonio Ave	0.65mi	2/2.0	2,107 (+9%)	4mo	$1,170,000	$555	39
1443 Stanton St	0.58mi	4/4.0	2,096 (+8%)	19mo	$1,040,000	$496	39

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 · 3.52% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-109,847
• Equity at exit: $111,082

10-year hold

• IRR: -5.2%
• Equity multiple: 0.65×
• Total profit: $-72,712
• Equity at exit: $64,414

Cash invested: $208,600 (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 94501

• Rents YoY: 3.5%
• Active inventory: 177
• Price-to-rent: 20.0×

Monthly cashflow live

• Estimated rent: $6,196 high
• Mortgage (P&I): −$3,907
• Tax from tax record: −$556 /mo · $6,670/yr
• Insurance: −$310
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,301
• Net cashflow: $122

Break-even live

Break-even rent $6,042

Max offer price $745,000

Occupancy floor 93%

Sensitivity live

Price	-10% $543	-5% $333	+0% $122	+5% $-89	+10% $-300
Rent	-10% $-368	-5% $-123	+0% $122	+5% $366	+10% $611
Rate	-1.0pp $497	-0.5pp $311	base $122	+0.5pp $-71	+1.0pp $-268

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,196
Total (2 units)			$6,196

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: $186,250
• Closing costs: $22,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1777 Clement Ave Alameda, CA	2.0	1.0–2.0	1257	$6,013	$4.78	0d	27	0.13mi
1501 Buena Vista Ave #1873 Alameda, CA	2.0	2.0	1269	$4,730	$3.73	22d	1	0.58mi
1518 Clement Ave Alameda, CA	3.0	1.0–3.0	1108	$4,874	$4.40	0d	19	0.59mi
2875 Glascock St #105 Oakland, CA	2.0	2.0	1463	$3,500	$2.39	45d	1	0.82mi
2889 Ford St Oakland, CA	1.0	1.0	1450	$2,795	$1.93	14d	1	0.88mi
1820 International Blvd Unit 1 Oakland, CA	2.0	1.5	1900	$1,710	$0.90	45d	1	1.02mi
37 8th Ave Oakland, CA	3.0	1.0–2.0	963	$3,947	$4.10	0d	17	1.08mi
260 Brooklyn Basin Way Oakland, CA	3.0	1.0–2.0	939	$3,864	$4.11	0d	11	1.10mi
1224 International Blvd Oakland, CA	1.0	1.0	2590	$3,500	$1.35	45d	1	1.14mi

Listing history 5 events

1. 2026-05-07
   status Pending
2. 2026-04-21
   historical $745,000
3. 1996-12-30
   soldstatus $200,000 92-char remark

   Show marketing remark (92 chars)

   CHARMING OLD VICTORIAN. TWO CLEAN UNITS. GREAT LOCATION/AREA. THIS IS AN REO, NEW ON MARKET.

4. 1996-11-21
   historical 92-char remark

   Show marketing remark (92 chars)

   CHARMING OLD VICTORIAN. TWO CLEAN UNITS. GREAT LOCATION/AREA. THIS IS AN REO, NEW ON MARKET.

5. 1996-11-06
   listed $199,900 92-char remark

   Show marketing remark (92 chars)

   CHARMING OLD VICTORIAN. TWO CLEAN UNITS. GREAT LOCATION/AREA. THIS IS AN REO, NEW ON MARKET.

ⓘ 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: $6,670 · $556/mo
• Projected year-2 tax: $6,670 · $556/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 3/10 Moderate 7 d/yr ≥83°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: $74,352
• − Mortgage interest: −$41,732
• − Property taxes: −$6,670
• − Insurance: −$3,725
• − Repairs & maintenance: −$5,948
• − Management: −$5,948
• − Depreciation: −$21,673
• Taxable loss: −$11,343
• Est. tax savings @ 24.0%: +$2,722
• After-tax cash flow: $4,183/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: Alameda Unified
• NCES district ID: 0601770
• Math proficiency: 59% ▼ -1.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $79,989
• Composite: 59.07/100
• National rank: #1949
• State rank: #149 of 1400 in CA

Livability — Alameda

• Score: 68/100
• State rank: #281
• US rank: #9455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alameda, CA
• County: Alameda County · 1,614,355 people
• City population: 63,808
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 63,808
• Household income: $127,906
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3146.0

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 0.73)
• Race & ethnicity: White 41% Asian 28% Two or more races 15% Hispanic / Latino 14% Black 7%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%
• Foreign-born: 25% · China, Canada, Vietnam
• Languages at home: 65% English-only · Chinese 8% Spanish 8% Tagalog/Filipino 4%

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: ▼ -1187.80%
• Current HPI: 286.9207
• Rent YoY: ▲ 3.52%
• 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

+272.7% since first listed

5 events — show timeline

• 2026-05-07 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-21 Coming Soon $745,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1996-12-30 Sold (MLS) $200,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1996-11-21 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1996-11-06 Listed $199,900 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+3.0%/yr

Latest (2025): $6,670 · +1.5% YoY. Source: county tax records.