37-41 John St · San Francisco, CA 94133

$1,850,000

49 bd · 28.0 ba · — sqft · MultiFamily · 1 Days on market

Built 1909 1,389 sqft lot

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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).

• Cash flow +15.0/30.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Held under the same family ownership for nearly 50 years, 37-41 John St. is a well-maintained 1909 apartment building located at the intersection of North Beach, Chinatown, and Nob Hill. Offered at $1,850,000, this 7 unit property is priced at approximately $264,000 per unit, presenting a rare entry point for San Francisco multifamily investors. The property features five tenant-occupied units and two vacant units, creating immediate leasing and value-add opportunities. The unit mix consists primarily of one-bedroom, one-bath layouts, several of which have been remodeled or updated. Major capital improvements have already been completed, including a soft-story seismic retrofit in 2022, full

Key facts

• Vacant units
• Remodeled units
• Interior renovations

Tags

• TENANT OCCUPIED UNITS
• VACANT UNITS
• REMODELED UNITS
• SOFT STORY SEISMIC RETROFIT
• FULL EXTERIOR REPAINTING
• INTERIOR RENOVATIONS

Property features AI

Finance

• Other: Zoning: RH-3
• Financial info: 7 total units; 5 units currently leased (all month-to-month); 2 units vacant; No furnished units; Typical 1-bedroom rent range: $1,867–$2,500; 1-bedroom annual occupancy reported at 71%
• HOA & community: No association fee

Exterior

• Utilities: Cable available; City water and water district service; Public sewer; Electricity available (220V on property); Natural gas connected; Separate gas and electric meters
• Home design: Residential income property (multi-family); 5-or-more unit building; Four levels; Traditional style
• Construction: Built in 1909; Frame, plaster and wood siding construction; Asphalt roof; Original and updated/remodeled condition
• Exterior features: Dual-pane partial windows; Window screens; Regular-shaped lot

Interior

• Kitchen: Free‑standing gas range; Free‑standing refrigerator; Other appliances
• Bedrooms: 7 bedrooms total
• Flooring: Wood flooring
• Bathrooms: 4 full bathrooms
• Heating & cooling: Baseboard heating; Hot water heating
• Interior features: Common area laundry; Baseboard and hot water heating; Wood flooring; Grab bars; Unfinished basement
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 7 × 7-bed/4.0-bath units multifamily listed at $1.85M.

Deal economics

• At list price, monthly cash flow is $169k ($2.03M/yr) — positive. Per door: $24k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($230k rent vs $1.85M).
• Cap rate 115.9% 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 (+16.9%/yr); 60 active listings in the ZIP; solid renter incomes; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $230,052/mo this rent would consume 3166% of the median local household income ($87k/yr) (locally 2027% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $132k of equity ($13k loan paydown + $119k appreciation (6.4% 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 (6.4% appreciation + 8.0% rent growth), your $518k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$211k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,850,000

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. 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: 12.44% ✓
• Cap rate: 115.89%
• Cash-on-cash: 391.40%
• DSCR: 18.42
• GRM: 0.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.44% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 25.25×
• Total profit: $12,563,031
• Equity at exit: $1,214,842

10-year hold

• IRR: —
• Equity multiple: 61.89×
• Total profit: $31,538,978
• Equity at exit: $2,249,266

Cash invested: $518,000 (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 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 94133

• Home prices YoY: 4.0%
• Rents YoY: 16.9%
• Active inventory: 60
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $230,052 medium
• Mortgage (P&I): −$9,702
• Tax est. 1.5%: −$2,312 /mo · $27,750/yr
• Insurance: −$771
• HOA: −$0
• Vacancy / Maint / Mgmt: −$48,311
• Net cashflow: $168,956

Break-even live

Break-even rent $16,183

Max offer price $1,850,000

Occupancy floor 22%

Sensitivity live

Price	-10% $170,235	-5% $169,595	+0% $168,956	+5% $168,317	+10% $167,678
Rent	-10% $150,782	-5% $159,869	+0% $168,956	+5% $178,043	+10% $187,130
Rate	-1.0pp $169,888	-0.5pp $169,427	base $168,956	+0.5pp $168,477	+1.0pp $167,989

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

Units	Beds	Baths	Est. rent
▸ 7× units	7	4	$230,055
Total (7 units)			$230,052

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: $462,500
• Closing costs: $55,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $1,850,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 16 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: $2,760,624
• − Mortgage interest: −$103,629
• − Property taxes: −$27,750
• − Insurance: −$9,250
• − Repairs & maintenance: −$220,850
• − Management: −$220,850
• − Depreciation: −$53,818
• Taxable income: $2,124,477
• Est. tax owed @ 24.0%: −$509,875
• After-tax cash flow: $1,517,599/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): 23,804
• Household income: $87,191
• Rent vs Own: 83.5% rent · 16.5% own
• Severe rent burden: 2027.0

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 0.65)
• Race & ethnicity: Asian 48% White 34% Hispanic / Latino 11% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 40% · China, Canada, South Korea
• Languages at home: 53% English-only · Chinese 34% Spanish 5% Other Indo-European 3%

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: ▲ 6.44%
• Current HPI: 168.565
• Rent YoY: ▲ 16.95%
• 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

+94771.8% since first listed

7 events — show timeline

• 2026-06-17 Listed $1,850,000 San Francisco MLS
• 2024-10-03 Price Changed $1,800,000 San Francisco MLS
• 2024-09-12 Listed $2,000,000 San Francisco MLS
• 2024-05-12 Rental Removed $2,200 APPFOLIO
• 2024-05-03 Listed for Rent $2,200 APPFOLIO
• 2024-03-14 Rental Removed $1,950 APPFOLIO
• 2024-01-26 Listed for Rent $1,950 APPFOLIO