4277 Howe St · Oakland, CA 94611

$899,000

12 bd · 9.0 ba · 2,174 sqft · MultiFamily · 9 Days on market

Built 1912 Good condition 3,270 sqft lot

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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).

• Cash flow +8.4/30.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Schools +3.0/10.0
• 1% rule +2.6/10.0
• DSCR +2.3/10.0
• 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

This well-preserved 1912 triplex offers a rare combination of historic character, strong income potential, and an unbeatable location in one of Oakland’s most walkable neighborhoods. Delivered fully vacant, this is a rare opportunity to place your own tenants at current market rents or create a tailored owner-occupant setup. The building features one spacious 2-bedroom, 1-bath unit and two well-proportioned 1-bedroom, 1-bath units, giving investors a versatile unit mix to work with. Each residence includes in-unit laundry a highly desirable amenity for today’s renters. Whether you’re an investor or an owner-occupant, the flexibility here is unmatched. Located just moments

Key facts

• In-unit laundry
• Historic character
• 96 walk score

Tags

• HISTORIC CHARACTER
• STRONG INCOME POTENTIAL
• UNBEATABLE LOCATION
• FULLY VACANT
• IN-UNIT LAUNDRY
• 96 WALK SCORE

Property features AI

Finance

• Other: Total building area approximately 2,174 square feet; Total of 3 units

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property (triplex); Built in 1912
• Construction: Wood siding
• Exterior features: Back yard; Balcony or patio

Interior

• Flooring: Hardwood floors throughout
• Bathrooms: Three units with one bathroom each
• Heating & cooling: Natural gas heating; Wall furnace; No air conditioning
• Interior features: Tub with shower over; In-unit laundry; Hardwood floors throughout
• Laundry & utility: Laundry located in unit

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $899k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-813 ($-10k/yr) — negative. Per door: $-271/mo.
• To cash-flow at today's rent, offer at most $781k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $684k (24.0% below list).
• Recommended offer: $684k (24.0% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.5% 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: 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.
• Zoned schools: Piedmont Avenue Elementary (332 students, 78% FRL); Westlake Middle (314 students, 87% FRL); Oakland Technical High (1,796 students, 57% FRL).
• Market conditions: Rents rising (+3.9%/yr); 193 active listings in the ZIP; high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $6,835/mo this rent would consume 45% of the median local household income ($181k/yr) (locally 1668% 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 $6k of loan paydown is wiped out by about $27k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $683,500 (24.0% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.88%
• DSCR: 0.83
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.94% rent growth · sell at horizon

5-year hold

• IRR: -21.8%
• Equity multiple: 0.24×
• Total profit: $-190,838
• Equity at exit: $134,044

10-year hold

• IRR: -13.5%
• Equity multiple: 0.18×
• Total profit: $-205,155
• Equity at exit: $77,729

Cash invested: $251,720 (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 94611

• Rents YoY: 3.9%
• Active inventory: 193
• Price-to-rent: 31.1×

Monthly cashflow live

• Estimated rent: $6,835 high
• Mortgage (P&I): −$4,714
• Tax est. 1.5%: −$1,124 /mo · $13,485/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,435
• Net cashflow: $-813

Break-even live

Break-even rent $7,864

Max offer price $781,338

Occupancy floor —

Sensitivity live

Price	-10% $-192	-5% $-502	+0% $-813	+5% $-1,124	+10% $-1,434
Rent	-10% $-1,353	-5% $-1,083	+0% $-813	+5% $-543	+10% $-273
Rate	-1.0pp $-360	-0.5pp $-584	base $-813	+0.5pp $-1,046	+1.0pp $-1,283

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$2,407
▸ 2× units	1	1	$4,428
Total (3 units)			$6,835

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $899,000 Active 9 DOM
2. 2026-06-18
   days on market $899,000 Active 6 DOM
3. 2026-06-17
   days on market $899,000 Active 5 DOM
4. 2026-06-16
   days on market $899,000 Active 4 DOM
5. 2026-06-15
   days on market $899,000 Active 3 DOM
6. 2026-06-13
   remarks 681-char remark
7. 2026-06-13
   listed $899,000 Active 1 DOM

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

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 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $82,020
• − Mortgage interest: −$50,358
• − Property taxes: −$13,485
• − Insurance: −$4,495
• − Repairs & maintenance: −$6,562
• − Management: −$6,562
• − Depreciation: −$26,153
• Taxable loss: −$25,594
• Est. tax savings @ 24.0%: +$6,143
• After-tax cash flow: $-3,615/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 · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained triplex offers a rare combination of historic character and strong income potential in a walkable neighborhood. Minor updates to the exterior and bathrooms would significantly enhance its resale and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Rental Replace shower curtain — Improves bathroom aesthetics
• Resale Clean fireplace — Enhances overall home appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Rental Replace shower curtain — Improves bathroom aesthetics ↑
• Resale Clean fireplace — Enhances overall home appeal ↑

ⓘ 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: 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): 40,116
• Household income: $180,549
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 1668.0

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 0.61)
• Race & ethnicity: White 59% Asian 17% Two or more races 12% Hispanic / Latino 7% Black 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 4% Romanian 3% Slovak 3%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 80% English-only · Chinese 5% Other Indo-European 4% Spanish 3%

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: ▼ -911.78%
• Current HPI: 247.5452
• Rent YoY: ▲ 3.94%
• 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

1 event — show timeline

• 2026-06-12 Listed $899,000 bridgeMLS, Bay East AOR, or Contra Costa AOR