1614-1618 Balboa St · San Francisco, CA 94121

$1,498,000

5 bd · 2.0 ba · 3,263 sqft · MultiFamily · 29 Days on market

Built 1922 Good condition 2,495 sqft lot Est $2154k · 30% under ↓ 9% since listing

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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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• 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

Rare mixed-use opportunity in a prime San Francisco location at 1614-1618 Balboa St. Ideally situated near Golden Gate Park and close to public transportation, this versatile property offers the perfect blend of convenience, flexibility, and city living. The ground floor features two commercial units, while the 2nd and 3rd floors offer residential living space, creating an ideal setup for owner-users, entrepreneurs, or investors seeking a live/work opportunity. The entire property is vacant, offering immediate occupancy and exceptional potential for both business and residential use. Recent improvements include a new roof, new central heating system, new interior paint, new exterior paint,

Key facts

• Two commercial units
• Immediate occupancy
• 2,495 sq ft lot

Tags

• PRIME SAN FRANCISCO LOCATION
• NEAR GOLDEN GATE PARK
• CLOSE TO PUBLIC TRANSPORTATION
• TWO COMMERCIAL UNITS
• RESIDENTIAL LIVING SPACE
• IMMEDIATE OCCUPANCY

Property features AI

Finance

• Other: Total living/building area approximately 3263 (source: assessor)
• Financial info: Four units total with four currently vacant
• HOA & community: No association fee

Exterior

• Home design: Quadruplex mixed-use property (residential income); Built in 1922
• Construction: 1922 construction
• Exterior features: Curbs and gutters; Sidewalk

Interior

• Bedrooms: Five bedrooms total across residential units
• Bathrooms: Two full bathrooms; Two commercial units each include a half bath
• Interior features: Mixed-use residential income property with commercial storefronts; Four total units (two residential flats and two commercial storefronts); Units furnished: Varies by unit

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $1.50M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.50M).
• Recommended offer: $1.48M (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+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 $15,860/mo this rent would consume 143% 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 $10k of loan paydown is wiped out by about $45k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $419k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($1.48M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $1,475,530 (1.5% below list)

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.23%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $2,153,580
• 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	0.00mi	5/2.0	3,263 (0%)	1mo	$1,600,000	$490	99
563-565 20th Ave	0.17mi	4/2.0 (-1)	3,210 (-2%)	3mo	$1,300,000	$405	82
171 23rd Ave	0.65mi	5/2.0	3,220 (-1%)	3mo	$2,125,000	$660	65
874 27th Ave	0.60mi	4/2.0 (-1)	3,290 (+1%)	2mo	$2,600,000	$790	64
814-816 25th Ave	0.47mi	4/2.0 (-1)	3,100 (-5%)	3mo	$2,120,000	$684	63
1721 Clement St	0.37mi	5/4.0	3,010 (-8%)	2mo	$1,700,000	$565	61
167-169 11th Ave	0.66mi	5/2.0	3,098 (-5%)	2mo	$2,910,000	$939	59
779-781 24th Ave	0.42mi	4/2.0 (-1)	3,600 (+10%)	2mo	$2,100,000	$583	56
1714-1718 Anza St	0.55mi	5/3.0	3,572 (+10%)	1mo	$2,505,000	$701	54
119-121 16th Ave	0.61mi	4/2.0 (-1)	3,011 (-8%)	2mo	$2,800,000	$930	52
674 10th Ave	0.47mi	4/2.0 (-1)	2,800 (-14%)	2mo	$1,038,000	$371	48
326 11th Ave	0.52mi	4/4.0 (-1)	3,580 (+10%)	2mo	$1,825,000	$510	45

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: -1.2%
• Equity multiple: 0.95×
• Total profit: $-20,027
• Equity at exit: $223,357

10-year hold

• IRR: 13.2%
• Equity multiple: 2.30×
• Total profit: $543,561
• Equity at exit: $129,520

Cash invested: $419,440 (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: 23.6×

Monthly cashflow live

• Estimated rent: $15,860 high
• Mortgage (P&I): −$7,856
• Tax est. 1.5%: −$1,872 /mo · $22,470/yr
• Insurance: −$624
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,331
• Net cashflow: $2,177

Break-even live

Break-even rent $13,104

Max offer price $1,498,000

Occupancy floor 81%

Sensitivity live

Price	-10% $3,212	-5% $2,695	+0% $2,177	+5% $1,659	+10% $1,142
Rent	-10% $924	-5% $1,551	+0% $2,177	+5% $2,804	+10% $3,430
Rate	-1.0pp $2,931	-0.5pp $2,558	base $2,177	+0.5pp $1,789	+1.0pp $1,394

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$15,861
Total (3 units)			$15,860

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: $374,500
• Closing costs: $44,940
• 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	1.05mi

Listing history 9 events

1. 2026-04-26
   status Pending
2. 2026-03-27
   price $1,498,000
3. 2026-03-27
   listed $149,800 Active
4. 2025-08-06
   listed $1,500,000 Active
5. 2025-02-16
   status Active
6. 2025-01-29
   status Pending
7. 2025-01-22
   price $1,500,000
8. 2025-01-09
   status Active
9. 2024-09-19
   listed $1,650,000 Active

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

Taxation est. · year 1

• Rental income: $190,320
• − Mortgage interest: −$83,911
• − Property taxes: −$22,470
• − Insurance: −$7,490
• − Repairs & maintenance: −$15,226
• − Management: −$15,226
• − Depreciation: −$43,578
• Taxable income: $2,419
• Est. tax owed @ 24.0%: −$581
• After-tax cash flow: $25,544/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 · 2 photos

Good 75/100 Cosmetic rehab

This multi-family property in San Francisco is in good condition with recent improvements. It offers a prime location and versatile use, making it an attractive investment opportunity.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Updating the kitchen and bathrooms — Modernizing these spaces can attract more buyers and renters.
• Both Landscaping the front yard — A well-maintained front yard improves curb appeal and adds value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Updating the kitchen and bathrooms — Modernizing these spaces can attract more buyers and renters. ↑
• Both Landscaping the front yard — A well-maintained front yard improves curb appeal and adds value to the property. ↑

ⓘ 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

-9.2% since first listed

9 events — show timeline

• 2026-04-26 Pending — San Francisco MLS
• 2026-03-27 Price Changed $1,498,000 San Francisco MLS
• 2026-03-27 Listed $149,800 San Francisco MLS
• 2025-08-06 Listed $1,500,000 San Francisco MLS
• 2025-02-16 Relisted — San Francisco MLS
• 2025-01-29 Pending — San Francisco MLS
• 2025-01-22 Price Changed $1,500,000 San Francisco MLS
• 2025-01-09 Relisted — San Francisco MLS
• 2024-09-19 Listed $1,650,000 San Francisco MLS