1482 18th Ave · San Francisco, CA 94122

$1,109,000

2 bd · 1.0 ba · 1,514 sqft · MultiFamily · 79 Days on market

Built 1926 2,374 sqft lot $732/sqft · 13% below area Est $1267k · 13% under ↓ 30% since listing

---

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 +13.1/15.0
• Cash flow +8.0/30.0
• Schools +5.0/10.0
• Rent growth +4.9/5.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Newly renovated and ideally located in the heart of the Inner Sunset, this top - floor TIC offers ocean views and Golden Gate views with exceptional convenience just two short blocks from the vibrant shops and eateries along Irving Street. Commuting is effortless with the N ‑ Judah MUNI line and 19th Avenue transit options only a block away. Golden Gate Park and its world ‑ class destinations including the Botanical Garden, Academy of Sciences, de Young Museum, and Stow Lake are all within easy reach, making this an unbeatable location for nature lovers, culture seekers, and urban explorers alike. This upper TIC features an almost identical, well ‑ designed layout highlighted by a spacious west ‑ facing living room with a fireplace, a formal dining room, a large kitchen with a breakfast nook and laundry area, two generous bedrooms, and a tastefully updated bathroom. The ground level retains its original expansive garage, offering individual tandem parking for one or more cars along with abundant storage. Each TIC enjoys direct access to the rear yard, enhancing everyday convenience and outdoor enjoyment.

Key facts

• Golden gate park
• N judah muni line
• Newly renovated

Tags

• NEWLY RENOVATED
• HEART OF THE INNER SUNSET
• TWO SHORT BLOCKS FROM SHOPS
• N JUDAH MUNI LINE
• 19TH AVENUE TRANSIT OPTIONS
• GOLDEN GATE PARK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $1.11M.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $947k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $829k (25.3% below list).
• Recommended offer: $829k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 2.1% in San Francisco — 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 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.
• Market conditions: Rents rising fast (+9.7%/yr); 63 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $8,287/mo this rent would consume 68% of the median local household income ($146k/yr) (locally 2227% 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 $8k of loan paydown is wiped out by about $33k 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 79 days — a 6% lower offer ($1.04M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $828,700 (25.3% 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 79 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.75% ✗
• Cap rate: 5.08%
• Cash-on-cash: -4.32%
• DSCR: 0.81
• GRM: 11.2

CMA / ARV

• ARV (median comp): $1,267,494
• List price: $1,109,000
• Delta: -12.50%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400-1402 17th Ave	0.11mi	2/2.0	1,479 (-2%)	21mo	$1,130,000	$764	69
1883 16th Ave	0.52mi	2/2.0	1,518 (+0%)	3mo	$1,450,000	$955	68

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.33×
• Total profit: $-206,948
• Equity at exit: $165,356

10-year hold

• IRR: -2.8%
• Equity multiple: 0.77×
• Total profit: $-72,004
• Equity at exit: $95,886

Cash invested: $310,520 (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 94122

• Rents YoY: 9.7%
• Active inventory: 63
• Price-to-rent: 22.3×

Monthly cashflow live

• Estimated rent: $8,287 high
• Mortgage (P&I): −$5,816
• Tax est. 1.5%: −$1,386 /mo · $16,635/yr
• Insurance: −$462
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,740
• Net cashflow: $-1,117

Break-even live

Break-even rent $9,701

Max offer price $947,322

Occupancy floor —

Sensitivity live

Price	-10% $-351	-5% $-734	+0% $-1,117	+5% $-1,501	+10% $-1,884
Rent	-10% $-1,772	-5% $-1,445	+0% $-1,117	+5% $-790	+10% $-463
Rate	-1.0pp $-559	-0.5pp $-835	base $-1,117	+0.5pp $-1,405	+1.0pp $-1,697

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$8,286
Total (2 units)			$8,287

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: $277,250
• Closing costs: $33,270
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1327-1329 Judah St Unit 1327 San Francisco, CA	2.0	1.0	1100	$5,500	$5.00	44d	1	0.10mi
2017 Judah St San Francisco, CA	2.0	1.0	1050	$4,500	$4.29	17d	1	0.44mi
1580-1582 28th Ave Unit 1580 San Francisco, CA	2.0	1.0	1250	$3,900	$3.12	24d	1	0.58mi
1450 Pacheco St San Francisco, CA	2.0	1.0	1100	$3,980	$3.62	20d	1	0.64mi
2525 Judah St Unit 201 San Francisco, CA	2.0	1.5	1150	$5,175	$4.50	44d	1	0.73mi
1323 6th Ave Unit 1325 San Francisco, CA	2.0	1.0	1500	$6,150	$4.10	44d	1	0.74mi
1801 29th Ave San Francisco, CA	3.0	2.0	1800	$5,800	$3.22	24d	1	0.76mi
62 Cragmont Ave San Francisco, CA	3.0	2.0	1734	$7,100	$4.09	44d	1	0.83mi
2043 10th Ave San Francisco, CA	3.0	2.0	1300	$6,750	$5.19	8d	1	0.85mi
833 24th Ave #831 San Francisco, CA	3.0	1.5	1500	$6,295	$4.20	44d	1	1.04mi
13 Warren Dr San Francisco, CA	3.0	3.0	1900	$8,750	$4.61	44d	1	1.13mi
1608 Balboa St San Francisco, CA	3.0	2.0	1323	$7,500	$5.67	2d	1	1.16mi
1608 Balboa St San Francisco, CA	3.0	2.0	1323	$7,500	$5.67	5d	1	1.16mi
1401 39th Ave San Francisco, CA	3.0	2.0	1300	$7,000	$5.38	17d	1	1.24mi
623 8th Ave Unit 623 San Francisco, CA	3.0	1.5	1660	$6,295	$3.79	5d	1	1.26mi
1931 Santiago St Unit A San Francisco, CA	2.0	1.0	1216	$4,500	$3.70	17d	1	1.28mi
1265 Stanyan St San Francisco, CA	3.0	2.0	2005	$13,900	$6.93	8d	1	1.31mi
2401 32nd Ave San Francisco, CA	3.0	1.0	1400	$7,000	$5.00	19d	1	1.44mi
1232 Vicente St Unit 1232 San Francisco, CA	2.0	2.0	1200	$4,495	$3.75	44d	1	1.45mi
1578 43rd Ave Unit B San Francisco, CA	2.0	2.0	1250	$3,300	$2.64	44d	1	1.45mi
61 Marview Way San Francisco, CA	3.0	2.0	1581	$8,450	$5.34	24d	1	1.47mi
61 Marview Way San Francisco, CA	3.0	2.0	1581	$8,200	$5.19	8d	1	1.47mi

Listing history 7 events

1. 2026-05-14
   status Pending 1147-char remark

   Show marketing remark (1147 chars)

   Newly renovated and ideally located in the heart of the Inner Sunset, this top - floor TIC offers ocean views and Golden Gate views with exceptional convenience just two short blocks from the vibrant shops and eateries along Irving Street. Commuting is effortless with the N ‑ Judah MUNI line and 19th Avenue transit options only a block away. Golden Gate Park and its world ‑ class destinations including the Botanical Garden, Academy of Sciences, de Young Museum, and Stow Lake are all within easy reach, making this an unbeatable location for nature lovers, culture seekers, and urban explorers alike. This upper TIC features an almost identical, well ‑ designed layout highlighted by a spacious west ‑ facing living room with a fireplace, a formal dining room, a large kitchen with a breakfast nook and laundry area, two generous bedrooms, and a tastefully updated bathroom. The ground level retains its original expansive garage, offering individual tandem parking for one or more cars along with abundant storage. Each TIC enjoys direct access to the rear yard, enhancing everyday convenience and outdoor enjoyment.

2. 2026-02-24
   listed $1,109,000 Active 1147-char remark

   Show marketing remark (1147 chars)

   Newly renovated and ideally located in the heart of the Inner Sunset, this top - floor TIC offers ocean views and Golden Gate views with exceptional convenience just two short blocks from the vibrant shops and eateries along Irving Street. Commuting is effortless with the N ‑ Judah MUNI line and 19th Avenue transit options only a block away. Golden Gate Park and its world ‑ class destinations including the Botanical Garden, Academy of Sciences, de Young Museum, and Stow Lake are all within easy reach, making this an unbeatable location for nature lovers, culture seekers, and urban explorers alike. This upper TIC features an almost identical, well ‑ designed layout highlighted by a spacious west ‑ facing living room with a fireplace, a formal dining room, a large kitchen with a breakfast nook and laundry area, two generous bedrooms, and a tastefully updated bathroom. The ground level retains its original expansive garage, offering individual tandem parking for one or more cars along with abundant storage. Each TIC enjoys direct access to the rear yard, enhancing everyday convenience and outdoor enjoyment.

3. 2024-06-01
   historical
4. 2024-02-15
   listed $2,195,000 Active
5. 2017-10-05
   soldstatus $1,780,000 Closed
6. 2017-09-22
   status Pending
7. 2017-09-06
   listed $1,590,000 Active

ⓘ 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 1/10 Low 7 d/yr ≥74°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $99,444
• − Mortgage interest: −$62,121
• − Property taxes: −$16,635
• − Insurance: −$5,545
• − Repairs & maintenance: −$7,956
• − Management: −$7,956
• − Depreciation: −$32,262
• Taxable loss: −$33,030
• Est. tax savings @ 24.0%: +$7,927
• After-tax cash flow: $-5,481/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): 55,819
• Household income: $146,250
• Rent vs Own: 51.8% rent · 48.2% own
• Severe rent burden: 2227.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Asian 44% White 36% Hispanic / Latino 11% Two or more races 11% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 36% · China, Canada, Vietnam
• Languages at home: 54% English-only · Chinese 26% Spanish 7% Other Indo-European 3%

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: ▼ -946.32%
• Current HPI: 314.9762
• Rent YoY: ▲ 9.73%
• 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

-30.3% since first listed

7 events — show timeline

• 2026-05-14 Pending — San Francisco MLS
• 2026-02-24 Listed $1,109,000 San Francisco MLS
• 2024-06-01 Delisted — San Francisco MLS
• 2024-02-15 Listed $2,195,000 San Francisco MLS
• 2017-10-05 Sold (MLS) $1,780,000 San Francisco MLS
• 2017-09-22 Pending — San Francisco MLS
• 2017-09-06 Listed $1,590,000 San Francisco MLS