178 Albion St · San Francisco, CA 94110

$995,000

12 bd · 6.0 ba · 6,378 sqft · Townhouse public records · 39 Days on market

Built 1909 2,123 sqft lot Est $1195k · 17% under $365/mo HOA · 5% of rent

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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).

• ARV discount +15.0/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• Cash flow +0.9/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

Key facts

• Room for storage
• In unit laundry
• Clawfoot tub

Tags

• PANORAMIC ROOFTOP DECK
• IN UNIT LAUNDRY
• VINTAGE INSPIRED BATH
• CLAWFOOT TUB
• SECURE GARAGE PARKING
• ROOM FOR STORAGE

Property features AI

Finance

• Other: Part of a 6-unit community
• HOA & community: Homeowners association with monthly fee of $365; Community amenities: Barbecue, Roof deck; Pets allowed

Exterior

• Parking: 1 covered garage space; Side-by-side parking on site
• Home design: Condominium; Residential property; One story; Attached property; Built in 1909
• Construction: Year built 1909
• Exterior features: Ground-level entry

Interior

• Bedrooms: 2 bedrooms
• Flooring: Wood floors
• Bathrooms: 1 full bathroom
• Interior features: In-unit stacked washer/dryer; Inside laundry room; Wood flooring
• Laundry & utility: Stacked washer and dryer inside unit

What this means for you Summary

Snapshot

• This is a 12-bed/6.0-bath townhouse listed at $995k.

Deal economics

• At list price, monthly cash flow is $-4k ($-50k/yr) — negative.
• To cash-flow at today's rent, offer at most $706k (29.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $664k (33.3% below list).
• Recommended offer: $664k (33.3% below list) — sets the bar for 1% rule.
• Cap rate 1.3% vs local median 2.1% in San Francisco — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 76/100 on livability (#90 in CA, #3,143 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• San Francisco Unified (urban): math 50% / reading 56% proficiency, ranked #322 of 1,400 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lilienthal (Claire) Elementary (669 students, 19% FRL); Giannini (A.P.) Middle (1,192 students, 34% FRL); Lowell High (2,632 students, 37% FRL) — zoned schools average 30% FRL vs 49% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+14.5%/yr); 162 active listings in the ZIP; high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $6,637/mo this rent would consume 50% of the median local household income ($158k/yr) (locally 2732% 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 $30k of value loss. Plan a longer hold.
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($965k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 32y ago 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.
• Current owner paid $775k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $663,704 (33.3% 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 39 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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. 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?
10. 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.
11. 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.
12. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.67% ✗
• Cap rate: 1.28%
• Cash-on-cash: -17.89%
• DSCR: 0.20
• GRM: 12.5

CMA / ARV

• ARV (median comp): $1,195,220
• List price: $995,000
• Delta: -16.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -43.2%
• Equity multiple: -0.40×
• Total profit: $-389,098
• Equity at exit: $148,358

10-year hold

• IRR: -32.7%
• Equity multiple: -0.84×
• Total profit: $-513,179
• Equity at exit: $86,029

Cash invested: $278,600 (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 San Francisco: 0 Strongly Tenant-Friendly · D+57

SF Rent Ordinance + Eviction Protections; relocation $10k+; one of strictest in US.

Methodology + full state rankings →

ZIP-level market 94110

• Rents YoY: 14.5%
• Active inventory: 162
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $6,637 medium
• Mortgage (P&I): −$5,218
• Tax from tax record: −$3,400 /mo · $40,801/yr
• Insurance: −$415
• HOA: −$365
• Vacancy / Maint / Mgmt: −$1,394
• Net cashflow: $-4,154

Break-even live

Break-even rent $11,896

Max offer price $705,892

Occupancy floor —

Sensitivity live

Price	-10% $-3,591	-5% $-3,873	+0% $-4,154	+5% $-4,436	+10% $-4,718
Rent	-10% $-4,679	-5% $-4,416	+0% $-4,154	+5% $-3,892	+10% $-3,630
Rate	-1.0pp $-3,653	-0.5pp $-3,901	base $-4,154	+0.5pp $-4,412	+1.0pp $-4,674

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: $248,750
• Closing costs: $29,850
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $365 · $4,380/yr

Listing history 41 events

1. 2026-06-15
   status $995,000 Pending 39 DOM
2. 2026-06-15
   days on market $995,000 Contingent - No Show 39 DOM
3. 2026-06-13
   days on market $995,000 Contingent - No Show 37 DOM
4. 2026-06-13
   days on market $995,000 Contingent - No Show 36 DOM
5. 2026-06-09
   days on market $995,000 Contingent - No Show 33 DOM
6. 2026-06-08
   days on market $995,000 Contingent - No Show 32 DOM
7. 2026-06-07
   statusdays on market $995,000 Contingent - No Show 31 DOM
8. 2026-06-04
   days on market $995,000 Active 28 DOM
9. 2026-06-03
   days on market $995,000 Active 27 DOM
10. 2026-06-02
    days on market $995,000 Active 26 DOM
11. 2026-06-01
    days on market $995,000 Active 25 DOM
12. 2026-05-31
    days on market $995,000 Active 24 DOM
13. 2026-05-07
    listed $995,000 Active 1827-char remark
14. 2015-10-23
    soldstatus $775,000
15. 2009-12-18
    soldstatus $450,000
16. 2009-07-07
    soldstatus $400,000
17. 2009-07-01
    soldstatus $515,000
18. 2009-06-26
    historical

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

19. 2009-06-25
    soldstatus $415,000 Closed

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

20. 2009-06-25
    soldstatus $415,000

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

21. 2009-05-15
    historical

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

22. 2009-04-21
    status

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

23. 2009-04-19
    historical

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

24. 2009-03-20
    status

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

25. 2009-03-19
    historical

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

26. 2009-02-20
    status

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

27. 2009-02-19
    historical

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

28. 2009-01-09
    price $435,000

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

29. 2008-12-19
    status

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

30. 2008-12-19
    historical

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

31. 2008-11-20
    price $485,000

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

32. 2008-11-07
    status

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

33. 2008-11-04
    historical

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

34. 2008-10-17
    price $510,000

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

35. 2008-09-20
    listed $530,000

    Show marketing remark (310 chars)

    New Tenancy in Common in a great Mission Dolores location close to shopping, transportation, and restaurants. Hardwood floors & spacious rooms. Updated kitchen. Shared roof deck. Independent parking space. Hardwood floors & charm. ALL UNITS VACANT, NO EVICTIONS. 2 SOLD. Seller may carry 10% 2nd.

36. 2008-08-20
    soldstatus $580,000
37. 2008-08-20
    soldstatus $525,000
38. 2008-08-19
    historical
39. 2008-07-18
    listed $505,000
40. 2005-07-12
    soldstatus $1,618,000
41. 1994-08-22
    listed $495,000

ⓘ 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: $40,801 · $3,400/mo
• Projected year-2 tax: $40,801 · $3,400/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 2/10 Low 8 d/yr ≥78°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $79,644
• − Mortgage interest: −$55,735
• − Property taxes: −$40,801
• − Insurance: −$4,975
• − Repairs & maintenance: −$6,372
• − Management: −$6,372
• − HOA: −$4,380
• − Depreciation: −$28,945
• Taxable loss: −$67,936
• Est. tax savings @ 24.0%: +$16,305
• After-tax cash flow: $-33,547/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: San Francisco Unified
• NCES district ID: 0634410
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $81,249
• Composite: 50.14/100
• National rank: #4088
• State rank: #322 of 1400 in CA

Livability — San Francisco

• Score: 76/100
• State rank: #90
• US rank: #3143

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: San Francisco, CA
• County: San Francisco County · 827,552 people
• City population: 827,552
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 66,865
• Household income: $158,351
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2732.0

Population outlook (San Francisco County) Hauer SSP2

• Today (2025): 1,030,936 people
• By 2030: 1,110,409 · +7.7%
• By 2040: 1,270,010 · +23.2%
• By 2050: 1,435,001 · +39.2%
• By 2075: 1,779,074 · +72.6%
• By 2100: 1,966,767 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Hispanic / Latino 32% Asian 16% Two or more races 15% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 2%
• Foreign-born: 28% · Canada, China, Vietnam
• Languages at home: 58% English-only · Spanish 27% Chinese 5% Other Indo-European 2%

Political lean MEDSL · San Francisco

• 2024 margin: Solid D (+64.8) · D 80.3% · R 15.5% · Other 4.1%
• 2008→2024 swing: -5.7pp toward R · 2008: 70.5pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+72.5 2016: D+76.1 2012: D+70.2 2008: D+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1385.62%
• Current HPI: 267.2424
• Rent YoY: ▲ 14.54%
• 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

+101.0% since first listed

31 events — show timeline

• 2026-06-15 Pending — San Francisco MLS
• 2026-06-05 Contingent — San Francisco MLS
• 2026-05-07 Listed $995,000 San Francisco MLS
• 2015-10-23 Sold (Public Records) $775,000 Public Records
• 2009-12-18 Sold (Public Records) $450,000 Public Records
• 2009-07-07 Sold (Public Records) $400,000 Public Records
• 2009-07-01 Sold (Public Records) $515,000 Public Records
• 2009-06-26 Delisted — San Francisco MLS
• 2009-06-25 Sold (Public Records) $415,000 Public Records
• 2009-06-25 Sold (MLS) $415,000 San Francisco MLS
• 2009-05-15 Contingent — San Francisco MLS
• 2009-04-21 Relisted — San Francisco MLS
• 2009-04-19 Delisted — San Francisco MLS
• 2009-03-20 Relisted — San Francisco MLS
• 2009-03-19 Delisted — San Francisco MLS
• 2009-02-20 Relisted — San Francisco MLS
• 2009-02-19 Delisted — San Francisco MLS
• 2009-01-09 Price Changed $435,000 San Francisco MLS
• 2008-12-19 Relisted — San Francisco MLS
• 2008-12-19 Delisted — San Francisco MLS
• 2008-11-20 Price Changed $485,000 San Francisco MLS
• 2008-11-07 Relisted — San Francisco MLS
• 2008-11-04 Delisted — San Francisco MLS
• 2008-10-17 Price Changed $510,000 San Francisco MLS
• 2008-09-20 Listed $530,000 San Francisco MLS
• 2008-08-20 Sold (Public Records) $525,000 Public Records
• 2008-08-20 Sold (Public Records) $580,000 Public Records
• 2008-08-19 Delisted — San Francisco MLS
• 2008-07-18 Listed $505,000 San Francisco MLS
• 2005-07-12 Sold (Public Records) $1,618,000 Public Records
• 1994-08-22 Listed $495,000 San Francisco MLS

Property tax history

+8.1%/yr

Latest (2017): $40,801 · +8.3% YoY. Source: county tax records.