3711 46th Ave · Lemon Hill, CA 95824

$699,000

6 bd · 4.0 ba · 2,568 sqft · MultiFamily public records · 245 Days on market

Built 1961 7,336 sqft lot $272/sqft · 8% above area Est $650k · 8% over

---

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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +4.1/15.0
• Rent growth +4.1/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0
• 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

Fantastic Investment Opportunity! Own this income-generating 4-plex with three units already rented and one vacant, ready for an owner-occupant or new tenant! Current tenants are on a month to month rental agreement. Each unit has been updated with stylish laminate flooring and fresh interior paint (prior to current tenants), offering a modern and inviting feel. Conveniently located with easy access to the freeway, shopping, and public transportation, this property is perfect for investors looking for steady rental income in a prime Sacramento location. Don't miss out on this chance to build your portfolio.

Key facts

• 7,336 sq ft lot
• 3 parking spots
• Built 1961

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $639/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $699k).
• Recommended offer: $615k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 3.8% in Lemon Hill — 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 45/100 on livability (#1,302 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: health & safety D, schools F, crime F.
• Sacramento City Unified (urban): math 32% / reading 43% proficiency, ranked #804 of 1,400 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.4%/yr); 67 active listings in the ZIP; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• At $8,907/mo this rent would consume 189% of the median local household income ($56k/yr) (locally 1671% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Sacramento County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $196k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($615k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $475k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $615,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% 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 1961 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
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: 1.27% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.67%
• DSCR: 1.70
• GRM: 6.5

CMA / ARV

• ARV (median comp): $649,561
• List price: $699,000
• Delta: 7.61%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3715 46th Ave	0.01mi	6/4.0	2,570 (+0%)	8mo	$744,600	$290	93

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 · 6.44% rent growth · sell at horizon

5-year hold

• IRR: 10.1%
• Equity multiple: 1.42×
• Total profit: $81,303
• Equity at exit: $104,223

10-year hold

• IRR: 21.8%
• Equity multiple: 3.15×
• Total profit: $420,521
• Equity at exit: $60,437

Cash invested: $195,720 (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 95824

• Rents YoY: 6.4%
• Active inventory: 67
• Price-to-rent: 26.2×

Monthly cashflow live

• Estimated rent: $8,907 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$524 /mo · $6,290/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,870
• Net cashflow: $2,555

Break-even live

Break-even rent $5,672

Max offer price $699,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$8,908
Total (4 units)			$8,907

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $699,000 Active 245 DOM
2. 2026-06-17
   days on market $699,000 Active 244 DOM
3. 2026-06-16
   days on market $699,000 Active 243 DOM
4. 2026-06-15
   days on market $699,000 Active 242 DOM
5. 2026-06-13
   days on market $699,000 Active 240 DOM
6. 2026-06-13
   days on market $699,000 Active 239 DOM
7. 2026-06-09
   days on market $699,000 Active 236 DOM
8. 2026-06-08
   days on market $699,000 Active 235 DOM
9. 2026-06-07
   days on market $699,000 Active 234 DOM
10. 2026-06-05
    days on market $699,000 Active 231 DOM
11. 2026-06-03
    days on market $699,000 Active 230 DOM
12. 2026-06-02
    days on market $699,000 Active 229 DOM
13. 2026-06-01
    days on market $699,000 Active 228 DOM
14. 2026-05-31
    days on market $699,000 Active 227 DOM
15. 2019-04-16
    soldstatus $475,000
16. 2016-06-03
    soldstatus $235,000
17. 2014-12-08
    soldstatus $190,000
18. 2013-08-21
    soldstatus $159,000
19. 2005-05-11
    soldstatus $469,000
20. 2004-01-02
    soldstatus $356,000
21. 2000-05-03
    soldstatus $82,000

ⓘ 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: $6,290 · $524/mo
• Projected year-2 tax: $6,290 · $524/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 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 25 unhealthy d/yr today · 26 by 30 yrs out

Taxation est. · year 1

• Rental income: $106,884
• − Mortgage interest: −$39,155
• − Property taxes: −$6,290
• − Insurance: −$3,495
• − Repairs & maintenance: −$8,551
• − Management: −$8,551
• − Depreciation: −$20,335
• Taxable income: $20,508
• Est. tax owed @ 24.0%: −$4,922
• After-tax cash flow: $25,744/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: Sacramento City Unified
• NCES district ID: 0633840
• Math proficiency: 32% ▬ 0.00%
• Reading proficiency: 43% ▲ 3.00%
• Median HH income: $49,280
• Composite: 34.86/100
• National rank: #10000
• State rank: #804 of 1400 in CA

Livability — Lemon Hill

• Score: 45/100
• State rank: #1302
• US rank: #26608

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lemon Hill, CA
• County: Sacramento County · 1,539,646 people
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 33,083
• Household income: $56,477
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1671.0

Population outlook (Sacramento County) Hauer SSP2

• Today (2025): 1,660,763 people
• By 2030: 1,732,990 · +4.3%
• By 2040: 1,855,755 · +11.7%
• By 2050: 1,941,335 · +16.9%
• By 2075: 2,046,162 · +23.2%
• By 2100: 1,961,444 · +18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 43% Asian 29% White 13% Two or more races 12% Black 10% Native American 2% Pacific Islander 2%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Lithuanian 1% Russian 1%
• Foreign-born: 33% · Canada, Vietnam, China
• Languages at home: 44% English-only · Spanish 29% Other Asian/Pacific 12% Vietnamese 5%

Political lean MEDSL · Sacramento

• 2024 margin: D (+19.7) · D 58.1% · R 38.4% · Other 3.5%
• 2008→2024 swing: +0.7pp no change · 2008: 19.0pp · 2024: 19.7pp
• All cycles: 2024: D+19.7 2020: D+25.3 2016: D+23.7 2012: D+16.3 2008: D+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -341.41%
• Current HPI: 409.6203
• Rent YoY: ▲ 6.44%
• Metro: Sacramento-Roseville-Folsom, 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

+479.3% since first listed

7 events — show timeline

• 2019-04-16 Sold (Public Records) $475,000 Public Records
• 2016-06-03 Sold (Public Records) $235,000 Public Records
• 2014-12-08 Sold (Public Records) $190,000 Public Records
• 2013-08-21 Sold (Public Records) $159,000 Public Records
• 2005-05-11 Sold (Public Records) $469,000 Public Records
• 2004-01-02 Sold (Public Records) $356,000 Public Records
• 2000-05-03 Sold (Public Records) $82,000 Public Records

Property tax history

-0.7%/yr

Latest (2025): $6,290 · +1.4% YoY. Source: county tax records.