546-548 17th Ave · San Francisco, CA 94121

$1,795,000

4 bd · 4.0 ba · 3,390 sqft · MultiFamily · 7 Days on market

Built 1922 Good condition 2,996 sqft lot Est $2237k · 20% under

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Why this score? — see what drove the F 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
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Cash flow +0.3/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• 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

Discover a rare owner-occupant and investment opportunity at 546-548 17th Avenue in San Francisco's highly desirable Central Richmond. This well-maintained multi-unit property offers the perfect combination of comfortable living and strong rental income potential. The Top-floor flat (546 17th Ave) is delivered VACANT and features a spacious 2 bed + Sunroom & 2 bath full-floor residence filled with natural light and charming woodwork. The home includes a generous living room, formal dining room, and a large kitchen, creating an ideal space for everyday living and entertaining. This offers an incredible single family home alternative in the current blistering real estate market. The low

Key facts

• Wet bar
• One-car garage
• Multi-unit property

Tags

• MULTI-UNIT PROPERTY
• WET BAR
• ONE-CAR GARAGE
• IMMEDIATE RENTAL INCOME

Property features AI

Finance

• Financial info: Two-unit building: 1 unit leased (tenant pays $2,201/month, tenant protected), 1 unit vacant and leasable; One independent parking space included
• HOA & community: No association fee

Exterior

• Parking: Attached garage (1 parking space, separate/independent space)
• Utilities: Separate gas meters; Separate electric meters; Public water; Public sewer
• Home design: Residential income property (duplex); Edwardian style; Two levels; One building
• Construction: Built in 1922; Fiber cement and stucco exterior; Concrete perimeter foundation; Shingle roof (not specified in data)
• Exterior features: Fenced lot; Bay windows

Interior

• Kitchen: Free-standing gas oven and range; Free-standing refrigerator
• Bedrooms: Total of 4 bedrooms (across units)
• Flooring: Carpet; Tile; Vinyl; Wood
• Bathrooms: 4 full bathrooms (across units)
• Heating & cooling: Central heating; Wall furnace
• Interior features: Central heating and wall furnace; Coin-operated laundry in common area; Bay windows with partial dual-pane; Carpet, tile, vinyl and wood flooring
• Laundry & utility: Washer and dryer (varies by unit); Coin-operated laundry in common area

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $1.79M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-8k ($-96k/yr) — negative.
• To cash-flow at today's rent, offer at most $638k (64.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $558k (68.9% below list).
• Recommended offer: $558k (68.9% below list) — sets the bar for 1% rule.
• Cap rate 0.9% vs local median 2.1% in San Francisco — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+13.0%/yr); 74 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $5,581/mo this rent would consume 50% of the median local household income ($133k/yr) (locally 2072% 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 $12k of loan paydown is wiped out by about $54k of value loss. Plan a longer hold.
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $558,108 (68.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.31% ✗
• Cap rate: 0.95%
• Cash-on-cash: -19.09%
• DSCR: 0.15
• GRM: 26.8

CMA / ARV

• ARV (on-the-fly): $2,237,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1614-1618 Balboa St	0.06mi	5/2.0 (+1)	3,263 (-4%)	1mo	$1,600,000	$490	77
563-565 20th Ave	0.21mi	4/2.0	3,210 (-5%)	3mo	$1,300,000	$405	71
326 11th Ave	0.46mi	4/4.0	3,580 (+6%)	2mo	$1,825,000	$510	67
1827 Clement St	0.36mi	4/4.0	3,054 (-10%)	5mo	$1,600,000	$524	63
1721 Clement St	0.33mi	5/4.0 (+1)	3,010 (-11%)	2mo	$1,700,000	$565	60
1714-1718 Anza St	0.50mi	5/3.0 (+1)	3,572 (+5%)	1mo	$2,505,000	$701	58
779-781 24th Ave	0.48mi	4/2.0	3,600 (+6%)	2mo	$2,100,000	$583	58
874 27th Ave	0.65mi	4/2.0	3,290 (-3%)	2mo	$2,600,000	$790	55
814-816 25th Ave	0.52mi	4/2.0	3,100 (-9%)	3mo	$2,120,000	$684	51
171 23rd Ave	0.63mi	5/2.0 (+1)	3,220 (-5%)	3mo	$2,125,000	$660	47
119-121 16th Ave	0.56mi	4/2.0	3,011 (-11%)	2mo	$2,800,000	$930	45
167-169 11th Ave	0.60mi	5/2.0 (+1)	3,098 (-9%)	2mo	$2,910,000	$939	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -50.8%
• Equity multiple: -0.53×
• Total profit: $-770,544
• Equity at exit: $267,640

10-year hold

• IRR: -72.0%
• Equity multiple: -1.37×
• Total profit: $-1,192,140
• Equity at exit: $155,199

Cash invested: $502,600 (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 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 94121

• Rents YoY: 13.0%
• Active inventory: 74
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $5,581 medium
• Mortgage (P&I): −$9,413
• Tax est. 1.5%: −$2,244 /mo · $26,925/yr
• Insurance: −$748
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,172
• Net cashflow: $-7,996

Break-even live

Break-even rent $15,702

Max offer price $637,997

Occupancy floor —

Sensitivity live

Price	-10% $-6,755	-5% $-7,376	+0% $-7,996	+5% $-8,616	+10% $-9,236
Rent	-10% $-8,437	-5% $-8,216	+0% $-7,996	+5% $-7,775	+10% $-7,555
Rate	-1.0pp $-7,092	-0.5pp $-7,539	base $-7,996	+0.5pp $-8,461	+1.0pp $-8,934

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: $448,750
• Closing costs: $53,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
806 35th Ave San Francisco, CA	5.0	3.0	2296	$13,995	$6.10	3d	1	1.07mi

Listing history 6 events

1. 2026-06-13
   statusdays on market $1,795,000 Pending 7 DOM
2. 2026-06-09
   days on market $1,795,000 Active 6 DOM
3. 2026-06-08
   days on market $1,795,000 Active 5 DOM
4. 2026-06-07
   days on market $1,795,000 Active 4 DOM
5. 2026-06-04
   remarks 695-char remark
6. 2026-06-04
   listed $1,795,000 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥77°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $66,973
• − Mortgage interest: −$100,548
• − Property taxes: −$26,925
• − Insurance: −$8,975
• − Repairs & maintenance: −$5,358
• − Management: −$5,358
• − Depreciation: −$52,218
• Taxable loss: −$132,409
• Est. tax savings @ 24.0%: +$31,778
• After-tax cash flow: $-64,171/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 · 13 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with minimal repairs needed. It offers a great investment opportunity with potential for value-add improvements.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Updating the kitchen appliances — Modern appliances improve functionality and attract potential buyers
• Resale Upgrading the bathroom fixtures — Updated fixtures enhance the bathroom's appeal and functionality
• Both Installing new flooring in the living areas — New flooring improves the home's appearance and adds value
• Both Upgrading the HVAC system — A new HVAC system improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Updating the kitchen appliances — Modern appliances improve functionality and attract potential buyers ↑
• Resale Upgrading the bathroom fixtures — Updated fixtures enhance the bathroom's appeal and functionality ↑
• Both Installing new flooring in the living areas — New flooring improves the home's appearance and adds value ↑
• Both Upgrading the HVAC system — A new HVAC system improves comfort and energy efficiency ↑

ⓘ 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): 41,995
• Household income: $133,358
• Rent vs Own: 56.1% rent · 43.9% own
• Severe rent burden: 2072.0

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 42% White 41% Two or more races 10% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Scotch-Irish 3% Lithuanian 2% Romanian 2%
• Foreign-born: 35% · China, Canada, Vietnam
• Languages at home: 59% English-only · Chinese 22% Russian/Polish/Slavic 4% Spanish 4%

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: ▼ -1078.57%
• Current HPI: 266.5786
• Rent YoY: ▲ 13.03%
• 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

• 2026-06-03 Listed $1,795,000 San Francisco MLS