818 E 18th St · Oakland, CA 94607

$499,000

5 bd · 3.0 ba · 1,902 sqft · MultiFamily public records · 1 Days on market

Built 1895 2,500 sqft lot Est $732k · 32% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Schools +3.0/10.0
• 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: 3 units. confirmed

Listing remarks

818 E18th Street brings classic Oakland character, flexible multi-unit living, and rare usable space into one interesting property. From the street, the home has that unmistakable old-Oakland Victorian presence, the kind of charm you do not see replicated in newer construction. Inside, the property is laid out with two main residential units plus a ground-level flex space behind the garage, giving the next owner ways to use, occupy, or explore its potential. The upper unit, 816, is a bright 2-bedroom, 1-bath residence with durable white oak finish hard-flooring, clean countertops, honeycomb tile backsplash, stainless steel stove, bistro-style hood, wood floating shelves, and an eat-in kitch

Key facts

• Communal backyard
• Private balcony
• Laundry setup

Tags

• PRIVATE BALCONY
• COMMUNAL BACKYARD
• DIRECT YARD ACCESS
• KITCHENETTE AREA
• LAUNDRY SETUP

Property features AI

Finance

• Other: Building area approximately 2,708 square feet
• Financial info: 3 total units

Exterior

• Parking: Attached parking; 1 parking space total
• Utilities: Public water; Public sewer
• Home design: Residential income property (Triplex); Built in 1895
• Construction: Stucco construction
• Exterior features: Back yard; Balcony/Patio; Fenced; Level, rectangular lot

Interior

• Flooring: Tile; Vinyl; Carpet
• Bathrooms: Unit 1 has 1 bathroom; Unit 2 has 2 bathrooms; Unit 3 has 2 bathrooms
• Heating & cooling: Has heating; No air conditioning
• Interior features: Storage

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.7-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $793/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $499k).
• Cap rate 12.0% 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 (+3.2%/yr); 133 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $7,576/mo this rent would consume 96% of the median local household income ($95k/yr) (locally 2002% 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 $3k of loan paydown is wiped out by about $15k 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 + 3.2% rent growth), your $140k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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 $152k; list at $499k implies a 228% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $499,000

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 1895 — 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: 1.52% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.43%
• DSCR: 1.91
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $732,270
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2141 11th Ave	0.30mi	4/2.0 (-1)	1,702 (-10%)	6mo	$540,000	$317	54
2020 17th Ave	0.54mi	6/3.0 (+1)	2,000 (+5%)	11mo	$800,000	$400	52
1829 E 22nd St	0.66mi	4/4.0 (-1)	1,664 (-12%)	1mo	$640,000	$385	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 · 3.24% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.52×
• Total profit: $72,708
• Equity at exit: $74,403

10-year hold

• IRR: 22.1%
• Equity multiple: 2.91×
• Total profit: $266,842
• Equity at exit: $43,144

Cash invested: $139,720 (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 94607

• Rents YoY: 3.2%
• Active inventory: 133
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $7,576 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$781 /mo · $9,375/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,591
• Net cashflow: $2,379

Break-even live

Break-even rent $4,565

Max offer price $499,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.7	$7,575
Total (3 units)			$7,576

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2203 8th Ave Unit 2 Oakland, CA	4.0	2.0	1300	$3,100	$2.38	4d	1	0.27mi
2422 E 24th St Unit 1 Oakland, CA	5.0	1.0	2364	$3,500	$1.48	43d	1	1.20mi
2900 Sheffield Ave Oakland, CA	4.0	2.0	1692	$7,000	$4.14	3d	1	1.40mi
1950 Broadway Oakland, CA	4.0	1.0–2.0	737	$6,907	$9.37	1d	53	1.46mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $499,000 Active 1 DOM

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $9,375 · $781/mo
• Projected year-2 tax: $9,375 · $781/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: $90,912
• − Mortgage interest: −$27,952
• − Property taxes: −$9,375
• − Insurance: −$2,495
• − Repairs & maintenance: −$7,273
• − Management: −$7,273
• − Depreciation: −$14,516
• Taxable income: $22,028
• Est. tax owed @ 24.0%: −$5,287
• After-tax cash flow: $23,262/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): 28,804
• Household income: $94,863
• Rent vs Own: 69.9% rent · 30.1% own
• Severe rent burden: 2002.0

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 0.78)
• Race & ethnicity: Black 29% White 25% Asian 25% Hispanic / Latino 13% Two or more races 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 1% Romanian 1% Portuguese 1%
• Foreign-born: 28% · China, Canada, Vietnam
• Languages at home: 65% English-only · Chinese 16% Spanish 8% Arabic 2%

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: ▼ -170.49%
• Current HPI: 263.5885
• Rent YoY: ▲ 3.24%
• 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

+1748.1% since first listed

7 events — show timeline

• 2026-06-17 Listed $499,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2016-07-19 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2006-09-21 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2006-09-15 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2006-08-11 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1991-12-31 Sold (Public Records) $152,000 Public Records
• 1979-09-01 Sold (Public Records) $27,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $9,375 · +4.5% YoY. Source: county tax records.