172 Permanente Way · Mountain View, CA 94041

$2,199,999

9 bd · 3.0 ba · 3,024 sqft · MultiFamily public records · 97 Days on market

Built 1962 6,547 sqft lot

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Why this score? — see what drove the D 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).

• Schools +8.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Appreciation +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.5/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Triplex located on Permanente Way in Mountain View featuring three thoughtfully designed 3-bedroom, 1-bath units. The property offers attractive updated curb appeal and a welcoming street presence. Each unit offers a practical layout with comfortable living spaces and functional floor plans. Interiors present an opportunity for updates, allowing a new owner to bring their own vision and improvements to the property. Immediate upside opportunity with one vacant unit. Maximize rents or owner occupy while collecting income from two occupied units. Situated on a nicely sized lot with outdoor space and convenient access to nearby amenities. The property is ideally located near major technology campuses, shopping, dining, parks, and commuter routes including Highways 101 and 85, providing easy access throughout Mountain View and Silicon Valley. An appealing opportunity for buyers seeking a multi-unit property with potential in a highly desirable location.

Key facts

• Convenient access
• Updated curb appeal
• Outdoor space

Tags

• UPDATED CURB APPEAL
• COMFORTABLE LIVING SPACES
• FUNCTIONAL FLOOR PLANS
• OUTDOOR SPACE
• CONVENIENT ACCESS
• NEAR MAJOR TECHNOLOGY CAMPUSES

Property features AI

Finance

• Other: Separate electric meters for units; Tenant expenses include electric and gas
• Financial info: Annual gross rental income approximately $82,368; Gross scheduled rental income approximately $82,368; Annual rental income listed at $82,368; Total annual expenses approximately $29,337; Gross rent multiplier about 26.71; Trash/utility expense listed at $5,750; Annual city transfer tax applicable; Annual property tax listed separately

Exterior

• Parking: Carport parking (at least 3 carport spaces); Unassigned parking spaces; One designated parking space listed
• Security: Video/Audio security system
• Utilities: Public water; Public sewer; Individual electric meters; Public utilities
• Home design: Two-story building; Trust ownership; One building on the parcel; Zoned R3-2*
• Construction: Wood and other construction materials; Crawl space foundation; Composition/shingle roof
• Exterior features: Backyard; Balcony or patio; Fenced yard; Low-maintenance landscaping

Interior

• Kitchen: Formica and tile countertops; Oven range; Refrigerator(s)
• Bedrooms: Three 3-bedroom units (one unit per floor configuration across the property)
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Wall furnace heating
• Interior features: Video/Audio security system
• Laundry & utility: Separate electric meters; Tenants pay electric and gas utilities

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $2.20M.

Deal economics

• At list price, monthly cash flow is $-3k ($-34k/yr) — negative. Per door: $-949/mo.
• To cash-flow at today's rent, offer at most $1.70M (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.49M (32.4% below list).
• Recommended offer: $1.49M (32.4% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 1.4% in Mountain View — 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 84/100 on livability (#14 in CA, #671 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: crime D+, cost of living F.
• Mountain View-Los Altos Union High (urban): math 77% / reading 86% proficiency, ranked #11 of 517 in CA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising (+3.4%/yr); 23 active listings in the ZIP; high-income renter base; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• At $14,880/mo this rent would consume 100% of the median local household income ($179k/yr) (locally 981% 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 (-1.1%/yr); year-one equity from $15k of loan paydown is wiped out by about $23k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($2.00M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $1,488,000 (32.4% 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 97 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-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?
9. Crime grade is D 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.68% ✗
• Cap rate: 4.74%
• Cash-on-cash: -5.54%
• DSCR: 0.75
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.06% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.44×
• Total profit: $-346,029
• Equity at exit: $525,111

10-year hold

• IRR: -6.0%
• Equity multiple: 0.46×
• Total profit: $-334,469
• Equity at exit: $546,357

Cash invested: $616,000 (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 Mountain View: 0 Strongly Tenant-Friendly · D+34

CSFRA rent control + just-cause.

Methodology + full state rankings →

ZIP-level market 94041

• Home prices YoY: -0.3%
• Rents YoY: 3.4%
• Active inventory: 23
• Price-to-rent: 37.0×

Monthly cashflow live

• Estimated rent: $14,880 high
• Mortgage (P&I): −$11,537
• Tax from tax record: −$2,148 /mo · $25,770/yr
• Insurance: −$917
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,125
• Net cashflow: $-2,846

Break-even live

Break-even rent $18,483

Max offer price $1,697,237

Occupancy floor —

Sensitivity live

Price	-10% $-1,601	-5% $-2,223	+0% $-2,846	+5% $-3,469	+10% $-4,091
Rent	-10% $-4,022	-5% $-3,434	+0% $-2,846	+5% $-2,258	+10% $-1,671
Rate	-1.0pp $-1,738	-0.5pp $-2,286	base $-2,846	+0.5pp $-3,416	+1.0pp $-3,996

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$14,880
Total (3 units)			$14,880

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: $550,000
• Closing costs: $66,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $2,199,999 Active 97 DOM
2. 2026-06-18
   days on market $2,199,999 Active 94 DOM
3. 2026-06-17
   days on market $2,199,999 Active 93 DOM
4. 2026-06-16
   days on market $2,199,999 Active 92 DOM
5. 2026-06-15
   days on market $2,199,999 Active 91 DOM
6. 2026-06-13
   days on market $2,199,999 Active 89 DOM
7. 2026-06-13
   days on market $2,199,999 Active 88 DOM
8. 2026-06-09
   days on market $2,199,999 Active 85 DOM
9. 2026-06-08
   days on market $2,199,999 Active 84 DOM
10. 2026-06-07
    days on market $2,199,999 Active 83 DOM
11. 2026-06-05
    days on market $2,199,999 Active 80 DOM
12. 2026-06-03
    days on market $2,199,999 Active 79 DOM
13. 2026-06-02
    days on market $2,199,999 Active 78 DOM
14. 2026-06-01
    days on market $2,199,999 Active 77 DOM
15. 2026-05-31
    days on market $2,199,999 Active 76 DOM
16. 2026-03-16
    listed $2,199,999 Active 963-char remark

    Show marketing remark (963 chars)

    Triplex located on Permanente Way in Mountain View featuring three thoughtfully designed 3-bedroom, 1-bath units. The property offers attractive updated curb appeal and a welcoming street presence. Each unit offers a practical layout with comfortable living spaces and functional floor plans. Interiors present an opportunity for updates, allowing a new owner to bring their own vision and improvements to the property. Immediate upside opportunity with one vacant unit. Maximize rents or owner occupy while collecting income from two occupied units. Situated on a nicely sized lot with outdoor space and convenient access to nearby amenities. The property is ideally located near major technology campuses, shopping, dining, parks, and commuter routes including Highways 101 and 85, providing easy access throughout Mountain View and Silicon Valley. An appealing opportunity for buyers seeking a multi-unit property with potential in a highly desirable location.

17. 2026-03-16
    listed $2,199,999 Active 963-char remark

    Show marketing remark (963 chars)

    Triplex located on Permanente Way in Mountain View featuring three thoughtfully designed 3-bedroom, 1-bath units. The property offers attractive updated curb appeal and a welcoming street presence. Each unit offers a practical layout with comfortable living spaces and functional floor plans. Interiors present an opportunity for updates, allowing a new owner to bring their own vision and improvements to the property. Immediate upside opportunity with one vacant unit. Maximize rents or owner occupy while collecting income from two occupied units. Situated on a nicely sized lot with outdoor space and convenient access to nearby amenities. The property is ideally located near major technology campuses, shopping, dining, parks, and commuter routes including Highways 101 and 85, providing easy access throughout Mountain View and Silicon Valley. An appealing opportunity for buyers seeking a multi-unit property with potential in a highly desirable location.

ⓘ 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: $25,770 · $2,148/mo
• Projected year-2 tax: $25,770 · $2,148/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 14 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: $178,560
• − Mortgage interest: −$123,234
• − Property taxes: −$25,770
• − Insurance: −$11,000
• − Repairs & maintenance: −$14,285
• − Management: −$14,285
• − Depreciation: −$64,000
• Taxable loss: −$74,014
• Est. tax savings @ 24.0%: +$17,763
• After-tax cash flow: $-16,389/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: Mountain View-Los Altos Union High
• NCES district ID: 0626310
• Math proficiency: 77% ▲ 9.00%
• Reading proficiency: 86% ▲ 4.00%
• Median HH income: $161,233
• Composite: 79.5/100
• National rank: #59
• State rank: #11 of 517 in CA

Livability — Mountain View

• Score: 84/100
• State rank: #14
• US rank: #671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mountain View, CA
• County: Santa Clara County · 1,806,974 people
• City population: 84,858
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 16,050
• Household income: $178,558
• Rent vs Own: 71.9% rent · 28.1% own
• Severe rent burden: 981.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 37% Hispanic / Latino 28% Asian 27% Two or more races 13% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Italian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 39% · Canada, China, Jamaica
• Languages at home: 50% English-only · Spanish 20% Chinese 11% Other Indo-European 7%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.06%
• Current HPI: 399.4625
• Rent YoY: ▲ 3.44%
• Metro: San Jose-Sunnyvale-Santa Clara, 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

+0.0% since first listed

2 events — show timeline

• 2026-03-16 Listed $2,199,999 MLSListings
• 2026-03-16 Listed $2,199,999 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+13.0%/yr

Latest (2025): $25,770 · +487.1% YoY. Source: county tax records.