1833 Clinton Ave · Alameda, CA 94501

$2,000,000

12 bd · 5.0 ba · 5,518 sqft · Condo public records · 46 Days on market

Built 1890

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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 +7.5/15.0
• Schools +5.9/10.0
• Rent growth +3.4/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Cash flow +0.9/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1833Clinton Avenue, an award winning single family home and a 4-unit apartment building (5 Units Total) located in Alamedas historic Leonardville district. Built in 1891 by renowned builder Joseph A. Leonard, this Queen Anne Victorian exemplifies the craftsmanship and architectural charm that define the neighborhood. The residences has been thoughtfully preserved and restored, retaining original architectural details like woodwork, coffered ceilings, art glass windows, and finely crafted trim. Beginning in 2009, longtime preservationist and former president of the Alameda Victorian Preservation Society, Jim Smallman, undertook an extensive restoration of the property. His work included carefully removing the original stucco by hand and full foundation replacement, returning both homes to their original Victorian character. His exceptional craftsmanship and dedication were recognized with Alameda Architectural Preservation Society (AAPS) Preservation Awards in 2011. The Single Family Home is four-Bedroom/two-Bathroom. The fourplex features all two-bedroom, one-bathroom units, each with off-street parking.

Key facts

• 0.29 acre lot
• Garage
• Built 1890

Property features AI

Finance

• Financial info: Annual rental income: $214,488; Annual gross income: $208,053; Gross scheduled income: $214,488; Gross rent multiplier: 16.32; Total expenses: $82,990; Other expenses: $1,140; Vacancy factor: 3; Tenant expenses: rent and electricity

Exterior

• Parking: Assigned parking; Attached garage; Four garage spaces (total 4 parking spaces)
• Utilities: Primary electric and primary water meters, with separate electric meter(s); Sewer: Other; Water: Other (see remarks); Trash expense: $3,348 (annual); Utility expenses: $9,278 (annual)
• Home design: Two-story buildings
• Construction: Concrete slab foundation
• Exterior features: Wood shake/shingle roof; Property contains three buildings; Lot approximately 0.295 acre; Zoned R-4

Interior

• Heating & cooling: Wall furnace
• Interior features: Wall furnace heating; Nine total residential units (building details listed under Exterior)
• Laundry & utility: Tenant pays rent and electricity

What this means for you Summary

Snapshot

• This is a 12-bed/5.0-bath condo listed at $2.00M.

Deal economics

• At list price, monthly cash flow is $-8k ($-100k/yr) — negative.
• To cash-flow at today's rent, offer at most $522k (73.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $469k (76.5% below list).
• Recommended offer: $469k (76.5% below list) — sets the bar for 1% rule.
• Cap rate 1.3% vs local median 1.6% in Alameda — 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 68/100 on livability (#281 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety B+; Watch: crime F, amenities F, cost of living F.
• Alameda Unified (suburban): math 59% / reading 70% proficiency, ranked #149 of 1,400 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.5%/yr); 177 active listings in the ZIP; high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• This rent runs 44% of the median local income ($128k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $14k of loan paydown is wiped out by about $60k 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.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($1.94M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $1.50M (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $469,121 (76.5% 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. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 77% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.23% ✗
• Cap rate: 1.27%
• Cash-on-cash: -17.93%
• DSCR: 0.20
• GRM: 35.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.52% rent growth · sell at horizon

5-year hold

• IRR: -52.1%
• Equity multiple: -0.53×
• Total profit: $-855,492
• Equity at exit: $298,207

10-year hold

• IRR: —
• Equity multiple: -1.54×
• Total profit: $-1,424,948
• Equity at exit: $172,923

Cash invested: $560,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 94501

• Rents YoY: 3.5%
• Active inventory: 177
• Price-to-rent: 35.5×

Monthly cashflow live

• Estimated rent: $4,691 medium
• Mortgage (P&I): −$10,488
• Tax from tax record: −$751 /mo · $9,012/yr
• Insurance: −$833
• HOA: −$0
• Vacancy / Maint / Mgmt: −$985
• Net cashflow: $-8,367

Break-even live

Break-even rent $15,282

Max offer price $522,017

Occupancy floor —

Sensitivity live

Price	-10% $-7,234	-5% $-7,800	+0% $-8,367	+5% $-8,933	+10% $-9,499
Rent	-10% $-8,737	-5% $-8,552	+0% $-8,367	+5% $-8,181	+10% $-7,996
Rate	-1.0pp $-7,359	-0.5pp $-7,858	base $-8,367	+0.5pp $-8,885	+1.0pp $-9,412

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: $500,000
• Closing costs: $60,000
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $2,000,000 Active 46 DOM
2. 2026-06-18
   days on market $2,000,000 Active 43 DOM
3. 2026-06-17
   days on market $2,000,000 Active 42 DOM
4. 2026-06-16
   days on market $2,000,000 Active 41 DOM
5. 2026-06-15
   days on market $2,000,000 Active 40 DOM
6. 2026-06-13
   days on market $2,000,000 Active 38 DOM
7. 2026-06-09
   days on market $2,000,000 Active 34 DOM
8. 2026-06-08
   days on market $2,000,000 Active 33 DOM
9. 2026-06-07
   days on market $2,000,000 Active 32 DOM
10. 2026-06-04
    days on market $2,000,000 Active 29 DOM
11. 2026-06-03
    days on market $2,000,000 Active 28 DOM
12. 2026-06-02
    days on market $2,000,000 Active 27 DOM
13. 2026-06-01
    days on market $2,000,000 Active 26 DOM
14. 2026-05-31
    days on market $2,000,000 Active 25 DOM
15. 2026-05-13
    price $2,000,000 1132-char remark

    Show marketing remark (1132 chars)

    Welcome to 1833Clinton Avenue, an award winning single family home and a 4-unit apartment building (5 Units Total) located in Alamedas historic Leonardville district. Built in 1891 by renowned builder Joseph A. Leonard, this Queen Anne Victorian exemplifies the craftsmanship and architectural charm that define the neighborhood. The residences has been thoughtfully preserved and restored, retaining original architectural details like woodwork, coffered ceilings, art glass windows, and finely crafted trim. Beginning in 2009, longtime preservationist and former president of the Alameda Victorian Preservation Society, Jim Smallman, undertook an extensive restoration of the property. His work included carefully removing the original stucco by hand and full foundation replacement, returning both homes to their original Victorian character. His exceptional craftsmanship and dedication were recognized with Alameda Architectural Preservation Society (AAPS) Preservation Awards in 2011. The Single Family Home is four-Bedroom/two-Bathroom. The fourplex features all two-bedroom, one-bathroom units, each with off-street parking.

16. 2026-05-13
    price $2,000,000 1132-char remark

    Show marketing remark (1132 chars)

    Welcome to 1833Clinton Avenue, an award winning single family home and a 4-unit apartment building (5 Units Total) located in Alamedas historic Leonardville district. Built in 1891 by renowned builder Joseph A. Leonard, this Queen Anne Victorian exemplifies the craftsmanship and architectural charm that define the neighborhood. The residences has been thoughtfully preserved and restored, retaining original architectural details like woodwork, coffered ceilings, art glass windows, and finely crafted trim. Beginning in 2009, longtime preservationist and former president of the Alameda Victorian Preservation Society, Jim Smallman, undertook an extensive restoration of the property. His work included carefully removing the original stucco by hand and full foundation replacement, returning both homes to their original Victorian character. His exceptional craftsmanship and dedication were recognized with Alameda Architectural Preservation Society (AAPS) Preservation Awards in 2011. The Single Family Home is four-Bedroom/two-Bathroom. The fourplex features all two-bedroom, one-bathroom units, each with off-street parking.

17. 2026-05-06
    listed $3,500,000 Active 1132-char remark

    Show marketing remark (1132 chars)

    Welcome to 1833Clinton Avenue, an award winning single family home and a 4-unit apartment building (5 Units Total) located in Alamedas historic Leonardville district. Built in 1891 by renowned builder Joseph A. Leonard, this Queen Anne Victorian exemplifies the craftsmanship and architectural charm that define the neighborhood. The residences has been thoughtfully preserved and restored, retaining original architectural details like woodwork, coffered ceilings, art glass windows, and finely crafted trim. Beginning in 2009, longtime preservationist and former president of the Alameda Victorian Preservation Society, Jim Smallman, undertook an extensive restoration of the property. His work included carefully removing the original stucco by hand and full foundation replacement, returning both homes to their original Victorian character. His exceptional craftsmanship and dedication were recognized with Alameda Architectural Preservation Society (AAPS) Preservation Awards in 2011. The Single Family Home is four-Bedroom/two-Bathroom. The fourplex features all two-bedroom, one-bathroom units, each with off-street parking.

18. 2026-05-06
    listed $3,500,000 Active 1132-char remark

    Show marketing remark (1132 chars)

    Welcome to 1833Clinton Avenue, an award winning single family home and a 4-unit apartment building (5 Units Total) located in Alamedas historic Leonardville district. Built in 1891 by renowned builder Joseph A. Leonard, this Queen Anne Victorian exemplifies the craftsmanship and architectural charm that define the neighborhood. The residences has been thoughtfully preserved and restored, retaining original architectural details like woodwork, coffered ceilings, art glass windows, and finely crafted trim. Beginning in 2009, longtime preservationist and former president of the Alameda Victorian Preservation Society, Jim Smallman, undertook an extensive restoration of the property. His work included carefully removing the original stucco by hand and full foundation replacement, returning both homes to their original Victorian character. His exceptional craftsmanship and dedication were recognized with Alameda Architectural Preservation Society (AAPS) Preservation Awards in 2011. The Single Family Home is four-Bedroom/two-Bathroom. The fourplex features all two-bedroom, one-bathroom units, each with off-street parking.

19. 2022-02-01
    price $2,100

ⓘ 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: $9,012 · $751/mo
• Projected year-2 tax: $15,200 · $1,267/mo
• Expected delta: +$6,188/yr (+$516/mo · 68.7%)

ⓘ 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 6 d/yr ≥83°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,295
• − Mortgage interest: −$112,031
• − Property taxes: −$9,012
• − Insurance: −$10,000
• − Repairs & maintenance: −$4,504
• − Management: −$4,504
• − Depreciation: −$58,182
• Taxable loss: −$141,938
• Est. tax savings @ 24.0%: +$34,065
• After-tax cash flow: $-66,333/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: Alameda Unified
• NCES district ID: 0601770
• Math proficiency: 59% ▼ -1.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $79,989
• Composite: 59.07/100
• National rank: #1949
• State rank: #149 of 1400 in CA

Livability — Alameda

• Score: 68/100
• State rank: #281
• US rank: #9455

Category grades

Amenities F Commute A+ Cost of living F Crime F Employment A+ Housing B- Health & safety B+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alameda, CA
• County: Alameda County · 1,614,355 people
• City population: 63,808
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 63,808
• Household income: $127,906
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3146.0

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 0.73)
• Race & ethnicity: White 41% Asian 28% Two or more races 15% Hispanic / Latino 14% Black 7%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%
• Foreign-born: 25% · China, Canada, Vietnam
• Languages at home: 65% English-only · Chinese 8% Spanish 8% Tagalog/Filipino 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: ▼ -1187.80%
• Current HPI: 286.9207
• Rent YoY: ▲ 3.52%
• 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

+95138.1% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $2,000,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-13 Price Changed $2,000,000 MLSListings
• 2026-05-06 Listed $3,500,000 MLSListings
• 2026-05-06 Listed $3,500,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2022-02-01 Price Changed $2,100 RENT.

Property tax history

+5.1%/yr

Latest (2025): $9,012 · +0.9% YoY. Source: county tax records.