3608 Kingsley St · Oakland, CA 94610

$804,400

4 bd · 4.0 ba · 2,953 sqft · MultiFamily public records · 108 Days on market

Built 1900 6,250 sqft lot $272/sqft · 27% below area Est $1100k · 27% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.2/30.0
• 1% rule +4.5/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Schools +3.0/10.0
• DSCR +2.6/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Victorian era multifamily in Oakland, CA. This multifamily is located in Trestle Glen area. There are four units. Each unit has one bedroom and one bathroom. Located near Lakeshore Avenue, a great place to shop. If you blink this property will be SOLD at this price. Buyers check City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

Key facts

• Trestle glen area
• 6,250 sq ft lot
• 3 garage spots

Tags

• VICTORIAN ERA MULTIFAMILY
• TRESTLE GLEN AREA
• NEAR LAKESHORE AVENUE

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $804k.

Deal economics

• At list price, monthly cash flow is $-600 ($-7k/yr) — negative. Per door: $-150/mo.
• To cash-flow at today's rent, offer at most $698k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $763k (5.2% below list).
• Recommended offer: $698k (13.2% below list) — sets the bar for cash-flow.
• Cap rate 5.4% 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: Glenview Elementary (448 students, 29% FRL); Edna Brewer Middle (781 students, 53% FRL); Oakland High (1,531 students, 88% FRL).
• Market conditions: Rents rising (+3.3%/yr); 109 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $7,626/mo this rent would consume 68% of the median local household income ($135k/yr) (locally 1614% 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 $24k 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 108 days — a 9% lower offer ($732k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $134k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $699k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $698,355 (13.2% 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 108 days. Have you received any prior offers? Is the seller open to a 13% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
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: 0.95% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 8.8

CMA / ARV

• ARV (median comp): $1,099,535
• List price: $804,400
• Delta: -26.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1374 E 32nd St	0.25mi	4/4.0	2,932 (-1%)	1mo	$720,000	$246	86
2600-2602 8th Ave	0.48mi	4/2.0	2,724 (-8%)	11mo	$905,000	$332	48

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 · 3.34% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.27×
• Total profit: $-165,193
• Equity at exit: $119,939

10-year hold

• IRR: -13.3%
• Equity multiple: 0.20×
• Total profit: $-179,134
• Equity at exit: $69,550

Cash invested: $225,232 (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 94610

• Rents YoY: 3.3%
• Active inventory: 109
• Price-to-rent: 35.2×

Monthly cashflow live

• Estimated rent: $7,626 high
• Mortgage (P&I): −$4,218
• Tax from tax record: −$2,071 /mo · $24,856/yr
• Insurance: −$335
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,601
• Net cashflow: $-600

Break-even live

Break-even rent $8,386

Max offer price $698,355

Occupancy floor —

Sensitivity live

Price	-10% $-145	-5% $-373	+0% $-600	+5% $-828	+10% $-1,056
Rent	-10% $-1,203	-5% $-902	+0% $-600	+5% $-299	+10% $2
Rate	-1.0pp $-195	-0.5pp $-396	base $-600	+0.5pp $-809	+1.0pp $-1,021

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$7,628
Total (4 units)			$7,626

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: $201,100
• Closing costs: $24,132
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 Calmar Ave Oakland, CA	3.0	2.0	2024	$5,529	$2.73	45d	1	0.62mi
460 Stow Ave Oakland, CA	4.0	2.5	2118	$4,900	$2.31	0d	1	1.02mi
2422 E 24th St Unit 1 Oakland, CA	5.0	1.0	2364	$3,500	$1.48	45d	1	1.05mi
20 Wyngaard Ave Piedmont, CA	4.0	4.0	3370	$8,500	$2.52	18d	1	1.18mi
1707 Leimert Blvd Oakland, CA	4.0	2.0	2160	$6,400	$2.96	45d	1	1.34mi
16 Craig Ave Piedmont, CA	3.0	3.5	3500	$12,000	$3.43	3d	1	1.48mi

Listing history 30 events

1. 2026-06-21
   days on market $804,400 Active 108 DOM
2. 2026-06-18
   days on market $804,400 Active 105 DOM
3. 2026-06-17
   days on market $804,400 Active 104 DOM
4. 2026-06-16
   days on market $804,400 Active 103 DOM
5. 2026-06-15
   days on market $804,400 Active 102 DOM
6. 2026-06-13
   days on market $804,400 Active 100 DOM
7. 2026-06-13
   days on market $804,400 Active 99 DOM
8. 2026-06-10
   price $804,400 Active 96 DOM
9. 2026-06-09
   days on market $846,700 Active 96 DOM
10. 2026-06-08
    days on market $846,700 Active 95 DOM
11. 2026-06-07
    days on market $846,700 Active 94 DOM
12. 2026-06-04
    days on market $846,700 Active 91 DOM
13. 2026-06-03
    days on market $846,700 Active 90 DOM
14. 2026-06-02
    days on market $846,700 Active 89 DOM
15. 2026-06-01
    days on market $846,700 Active 88 DOM
16. 2026-05-31
    days on market $846,700 Active 87 DOM
17. 2026-05-07
    price $846,700 368-char remark

    Show marketing remark (368 chars)

    Victorian era multifamily in Oakland, CA. This multifamily is located in Trestle Glen area. There are four units. Each unit has one bedroom and one bathroom. Located near Lakeshore Avenue, a great place to shop. If you blink this property will be SOLD at this price. Buyers check City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

18. 2026-04-07
    price $891,200 368-char remark

    Show marketing remark (368 chars)

    Victorian era multifamily in Oakland, CA. This multifamily is located in Trestle Glen area. There are four units. Each unit has one bedroom and one bathroom. Located near Lakeshore Avenue, a great place to shop. If you blink this property will be SOLD at this price. Buyers check City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

19. 2026-03-05
    listed $938,100 Active 368-char remark

    Show marketing remark (368 chars)

    Victorian era multifamily in Oakland, CA. This multifamily is located in Trestle Glen area. There are four units. Each unit has one bedroom and one bathroom. Located near Lakeshore Avenue, a great place to shop. If you blink this property will be SOLD at this price. Buyers check City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

20. 2023-12-06
    historical
21. 2023-10-11
    listed Active
22. 2007-08-02
    historical
23. 2006-10-26
    historical
24. 2004-11-05
    soldstatus $699,000
25. 2004-11-05
    soldstatus $699,000
26. 2004-09-13
    historical
27. 2004-07-20
    listed $729,950
28. 1989-10-02
    soldstatus $300,000
29. 1989-10-02
    soldstatus $300,000
30. 1987-02-20
    soldstatus $103,500

ⓘ 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: $24,856 · $2,071/mo
• Projected year-2 tax: $24,856 · $2,071/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 6 d/yr ≥84°F today · 13 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: $91,512
• − Mortgage interest: −$45,059
• − Property taxes: −$24,856
• − Insurance: −$4,022
• − Repairs & maintenance: −$7,321
• − Management: −$7,321
• − Depreciation: −$23,401
• Taxable loss: −$20,467
• Est. tax savings @ 24.0%: +$4,912
• After-tax cash flow: $-2,291/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): 32,628
• Household income: $134,507
• Rent vs Own: 62.0% rent · 38.0% own
• Severe rent burden: 1614.0

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 0.69)
• Race & ethnicity: White 50% Asian 17% Black 13% Two or more races 13% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 18% · China, Canada, Vietnam
• Languages at home: 77% English-only · Spanish 7% Chinese 4% Other Asian/Pacific 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: ▼ -1222.50%
• Current HPI: 290.482
• Rent YoY: ▲ 3.34%
• 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

+718.1% since first listed

14 events — show timeline

• 2026-05-07 Price Changed $846,700 CRMLS
• 2026-04-07 Price Changed $891,200 CRMLS
• 2026-03-05 Listed $938,100 CRMLS
• 2023-12-06 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2023-10-11 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2007-08-02 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2006-10-26 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-11-05 Sold (Public Records) $699,000 Public Records
• 2004-11-05 Sold (MLS) $699,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-09-13 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-07-20 Listed $729,950 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1989-10-02 Sold (Public Records) $300,000 Public Records
• 1989-10-02 Sold (Public Records) $300,000 Public Records
• 1987-02-20 Sold (Public Records) $103,500 Public Records

Property tax history

+4.8%/yr

Latest (2025): $24,856 · +56.7% YoY. Source: county tax records.