2609 International Blvd · Oakland, CA 94601

$1,000,000

4 bd · 8.0 ba · 3,891 sqft · MultiFamily public records · 24 Days on market

Built 1920 5,000 sqft lot Est $747k · 34% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 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

2609 International is an eight units residential property in the center of Oakland. It is a mix of 4 1-bedroom units, and 4 studio units. The scheduled rental income is $110k per year. Separated PG & E meters. Select units were recently renovated. Great investment property over 7% CAP. Centrally located. Few blocks to Fruitvale BART station.

Key facts

• Mix of studio units
• Investment property
• Recently renovated

Tags

• MIX OF 1 BEDROOM UNITS
• MIX OF STUDIO UNITS
• SCHEDULED RENTAL INCOME
• SEPARATED PG & E METERS
• RECENTLY RENOVATED
• INVESTMENT PROPERTY

Property features AI

Finance

• Financial info: 8 total units (all leased month-to-month); 4 studios occupied; 4 one-bedroom units occupied; Units furnished vary by unit
• HOA & community: No association fee

Exterior

• Utilities: City utilities; Electricity available (separate meter); Natural gas connected (separate meter); Sewer connected; Electric on property
• Home design: Residential income property (multi-family, 5+ units); Spanish architectural style; One level
• Construction: Built in 1920; Stucco construction
• Exterior features: Lot features: none

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator
• Bedrooms: Total of 4 bedrooms
• Bathrooms: 4 full bathrooms
• Heating & cooling: No cooling
• Interior features: Common area laundry; No cooling; Free-standing gas range; Free-standing refrigerator; Washer and dryer
• Laundry & utility: Common area laundry; Washer and dryer

What this means for you Summary

Snapshot

• This is a 4×1bd/1.0ba + 4×?bd/1.0ba units multifamily listed at $1.00M.

Deal economics

• At list price, monthly cash flow is $4k ($46k/yr) — positive. Per door: $476/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.00M).
• Recommended offer: $985k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% 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 (+3.9%/yr); 116 active listings in the ZIP; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $13,442/mo this rent would consume 223% of the median local household income ($72k/yr) (locally 3603% 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 $7k of loan paydown is wiped out by about $30k 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 + 3.9% rent growth), your $280k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($985k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $415k; list at $1.00M implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $985,000 (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 1920 — 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: 1.34% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.31%
• DSCR: 1.73
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $747,072
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3020 E 19 th	0.50mi	5/3.0 (+1)	3,514 (-10%)	4mo	$675,000	$192	37

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 · 3.89% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.33×
• Total profit: $92,583
• Equity at exit: $149,103

10-year hold

• IRR: 18.3%
• Equity multiple: 2.59×
• Total profit: $443,993
• Equity at exit: $86,462

Cash invested: $280,000 (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 Oakland: 0 Strongly Tenant-Friendly · D+62

Rent Adjustment Program + Just Cause.

Methodology + full state rankings →

ZIP-level market 94601

• Rents YoY: 3.9%
• Active inventory: 116
• Price-to-rent: 54.4×

Monthly cashflow live

• Estimated rent: $13,442 high
• Mortgage (P&I): −$5,244
• Tax from tax record: −$1,153 /mo · $13,842/yr
• Insurance: −$417
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,823
• Net cashflow: $3,805

Break-even live

Break-even rent $8,626

Max offer price $1,000,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$6,124
▸ 4× units	0	1	$7,316
Total (8 units)			$13,442

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: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $1,000,000 Active 24 DOM
2. 2026-06-17
   days on market $1,000,000 Active 23 DOM
3. 2026-06-16
   days on market $1,000,000 Active 22 DOM
4. 2026-06-15
   days on market $1,000,000 Active 21 DOM
5. 2026-06-13
   days on market $1,000,000 Active 19 DOM
6. 2026-06-13
   days on market $1,000,000 Active 18 DOM
7. 2026-06-09
   days on market $1,000,000 Active 15 DOM
8. 2026-06-08
   days on market $1,000,000 Active 14 DOM
9. 2026-06-07
   days on market $1,000,000 Active 13 DOM
10. 2026-06-04
    days on market $1,000,000 Active 10 DOM
11. 2026-06-03
    days on market $1,000,000 Active 9 DOM
12. 2026-06-02
    days on market $1,000,000 Active 8 DOM
13. 2026-06-01
    days on market $1,000,000 Active 7 DOM
14. 2026-05-31
    days on market $1,000,000 Active 6 DOM
15. 2026-05-25
    listed $1,000,000 Active
16. 2024-03-21
    price $1,080,000
17. 2024-01-23
    listed $1,180,000 Active
18. 2012-11-09
    soldstatus $415,000
19. 1989-01-24
    soldstatus $320,000

ⓘ 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: $13,842 · $1,153/mo
• Projected year-2 tax: $13,842 · $1,153/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 ≥84°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: $161,304
• − Mortgage interest: −$56,016
• − Property taxes: −$13,842
• − Insurance: −$5,000
• − Repairs & maintenance: −$12,904
• − Management: −$12,904
• − Depreciation: −$29,091
• Taxable income: $31,547
• Est. tax owed @ 24.0%: −$7,571
• After-tax cash flow: $38,088/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): 53,259
• Household income: $72,359
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3603.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 53% Asian 18% Black 13% White 11% Two or more races 10% Native American 3%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Italian 1% Scotch-Irish 1%
• Foreign-born: 40% · Canada, Vietnam, China
• Languages at home: 35% English-only · Spanish 46% Chinese 5% Vietnamese 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: ▼ -1045.52%
• Current HPI: 347.3256
• Rent YoY: ▲ 3.89%
• 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

+212.5% since first listed

5 events — show timeline

• 2026-05-25 Listed $1,000,000 San Francisco MLS
• 2024-03-21 Price Changed $1,080,000 San Francisco MLS
• 2024-01-23 Listed $1,180,000 San Francisco MLS
• 2012-11-09 Sold (Public Records) $415,000 Public Records
• 1989-01-24 Sold (Public Records) $320,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $13,842 · +6.1% YoY. Source: county tax records.