1729-33 Dahlia Ave · San Diego, CA 92154

$949,000

15 bd · 12.0 ba · 1,550 sqft · MultiFamily · 84 Days on market

Built 1943 Good condition 8,278 sqft lot

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Why this score? — see what drove the C+ 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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Motivated Seller! Rare opportunity to own a high income producing investment property with strong cap rate potential. The property consists of two legal units and one additional unit with unknown permit status, for a total of three units. The front unit is a 2 bedroom 1 bathroom approximately 600 square feet. The main unit is a 2 bedroom 2 bathroom approximately 700 square feet and has just been fully remodeled. It is currently vacant and ready for a new tenant at market rent. The rear unit is a 1 bedroom 1 bathroom approximately 300 square feet with permit status unknown. Two units are currently occupied, providing immediate rental income, while the vacant unit offers upside potential for

Key facts

• Fully remodeled
• Two legal units
• 8,278 sq ft lot

Tags

• TWO LEGAL UNITS
• FULLY REMODELED
• IMMEDIATE RENTAL INCOME
• ZONING ALLOWS FOR FOUR UNITS

Property features AI

Finance

• Other: Pets allowed; Zoning: R-2 (minor)
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Irrigation source: N/K
• Home design: Residential income (multi-family); 2–4 unit property; Single-story
• Construction: Stucco construction
• Exterior features: Partial fencing; Composition roof

Interior

• Kitchen:
• Bedrooms: Multi-family residential unit(s)
• Flooring:
• Bathrooms: 4 full bathrooms
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Partial fencing
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/4.0-bath units multifamily listed at $949k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $645/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $949k).
• Recommended offer: $892k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 2.0% in San Diego — 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 75/100 on livability (#123 in CA, #4,206 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, crime D+, cost of living F.
• Sweetwater Union High (suburban): math 36% / reading 52% proficiency, ranked #187 of 517 in CA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.5%/yr); 210 active listings in the ZIP; solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $10,750/mo this rent would consume 136% of the median local household income ($95k/yr) (locally 2959% 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 $7k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($892k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $892,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.13% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.77×
• Total profit: $-61,932
• Equity at exit: $141,499

10-year hold

• IRR: -1.0%
• Equity multiple: 0.94×
• Total profit: $-16,396
• Equity at exit: $82,052

Cash invested: $265,720 (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 92154

• Rents YoY: -0.5%
• Active inventory: 210
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $10,750 medium
• Mortgage (P&I): −$4,977
• Tax est. 1.5%: −$1,186 /mo · $14,235/yr
• Insurance: −$395
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,258
• Net cashflow: $1,934

Break-even live

Break-even rent $8,302

Max offer price $949,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	4	$10,749
Total (3 units)			$10,750

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: $237,250
• Closing costs: $28,470
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-17
   days on market $949,000 Active 84 DOM
2. 2026-06-16
   days on market $949,000 Active 83 DOM
3. 2026-06-15
   days on market $949,000 Active 82 DOM
4. 2026-06-13
   days on market $949,000 Active 80 DOM
5. 2026-06-13
   days on market $949,000 Active 79 DOM
6. 2026-06-09
   days on market $949,000 Active 76 DOM
7. 2026-06-08
   days on market $949,000 Active 75 DOM
8. 2026-06-07
   days on market $949,000 Active 74 DOM
9. 2026-06-04
   days on market $949,000 Active 71 DOM
10. 2026-06-03
    days on market $949,000 Active 70 DOM
11. 2026-06-02
    days on market $949,000 Active 69 DOM
12. 2026-06-01
    days on market $949,000 Active 68 DOM
13. 2026-05-31
    days on market $949,000 Active 67 DOM
14. 2026-04-16
    price $949,000
15. 2026-04-14
    historical $2,550
16. 2026-04-01
    price $2,550
17. 2026-03-25
    price $2,700
18. 2026-03-25
    listed $995,000 Active
19. 2026-01-13
    listed $2,900
20. 2025-07-22
    historical $2,890
21. 2025-07-02
    listed $2,890
22. 2025-06-26
    historical $2,890
23. 2025-06-09
    historical
24. 2025-05-07
    listed $1,150,000 Active
25. 2025-04-17
    listed $2,890

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥86°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $129,000
• − Mortgage interest: −$53,159
• − Property taxes: −$14,235
• − Insurance: −$4,745
• − Repairs & maintenance: −$10,320
• − Management: −$10,320
• − Depreciation: −$27,607
• Taxable income: $8,614
• Est. tax owed @ 24.0%: −$2,067
• After-tax cash flow: $21,143/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 · 13 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with recent renovations, offering a good investment opportunity with strong rental potential.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Landscaping improvements — Improves curb appeal and value
• Both Add smart home features — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Improves curb appeal and value ↑
• Both Add smart home features — Enhances convenience and marketability ↑

ⓘ 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: Sweetwater Union High
• NCES district ID: 0638640
• Math proficiency: 36% ▲ 3.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $59,051
• Composite: 38.61/100
• National rank: #4158
• State rank: #187 of 517 in CA

Livability — San Diego

• Score: 75/100
• State rank: #123
• US rank: #4206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Diego, CA
• County: San Diego County · 3,178,799 people
• City population: 1,397,612
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 80,445
• Household income: $94,901
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2959.0

Population outlook (San Diego County) Hauer SSP2

• Today (2025): 3,678,185 people
• By 2030: 3,856,546 · +4.8%
• By 2040: 4,171,407 · +13.4%
• By 2050: 4,421,607 · +20.2%
• By 2075: 4,831,599 · +31.4%
• By 2100: 4,832,502 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 30% White 12% Asian 12% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 65%
• Foreign-born: 32% · Canada, China
• Languages at home: 35% English-only · Spanish 56% Tagalog/Filipino 7% Chinese 1%

Political lean MEDSL · San Diego

• 2024 margin: D (+16.8) · D 56.9% · R 40.1% · Other 2.9%
• 2008→2024 swing: +6.6pp toward D · 2008: 10.2pp · 2024: 16.8pp
• All cycles: 2024: D+16.8 2020: D+22.8 2016: D+17.8 2012: D+5.1 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -568.62%
• Current HPI: 393.1836
• Rent YoY: ▼ -0.52%
• Metro: San Diego-Chula Vista-Carlsbad, 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

+32737.4% since first listed

12 events — show timeline

• 2026-04-16 Price Changed $949,000 SDMLS
• 2026-04-14 Rental Removed $2,550 SDMLS
• 2026-04-01 Price Changed $2,550 SDMLS
• 2026-03-25 Price Changed $2,700 SDMLS
• 2026-03-25 Listed $995,000 SDMLS
• 2026-01-13 Listed for Rent $2,900 SDMLS
• 2025-07-22 Rental Removed $2,890 SDMLS
• 2025-07-02 Listed for Rent $2,890 SDMLS
• 2025-06-26 Rental Removed $2,890 SDMLS
• 2025-06-09 Listing Removed — SDMLS
• 2025-05-07 Listed $1,150,000 SDMLS
• 2025-04-17 Listed for Rent $2,890 SDMLS