7448 Lockwood St · Oakland, CA 94621

$899,000

8 bd · 4.0 ba · 3,536 sqft · MultiFamily public records · 374 Days on market

Built 1957 10,000 sqft lot $254/sqft · at area comps Est $877k · at est.

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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).

• Cash flow +12.9/30.0
• ARV discount +6.4/15.0
• 1% rule +4.9/10.0
• Rent growth +4.1/5.0
• DSCR +3.9/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• 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

Welcome to 7448 Lockwood Street, a spacious and income-producing fourplex located in the heart of East Oakland. This well-maintained property features four 2-bedroom, 1-bath units, each offering approximately 885 square feet of comfortable living space. Each unit is separately metered for gas, electricity, and water, providing convenience and flexibility for both owner and tenants. A detached on-site laundry room adds an additional income stream. Situated on a large, flat 10,000 sq ft lot, this property offers development potential—build additional units or expand to maximize your return (buyer to verify). Conveniently located near Highways 580 and 880 and just minutes from the Eastmont Town Center, this property is a prime location for tenants and commuters alike. Don't miss this exceptional opportunity to own a strong cash-flowing asset with upside potential in one of Oakland’s high-demand rental markets.

Key facts

• 0.23 acre lot
• Built 1957
• Listed 374 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $-69 ($-834/yr) — negative. Per door: $-17/mo.
• To cash-flow at today's rent, offer at most $887k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $889k (1.1% below list).
• Recommended offer: $791k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 2.4% 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: schools C-, 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.
• Market conditions: Rents rising fast (+6.5%/yr); 83 active listings in the ZIP; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $8,893/mo this rent would consume 205% of the median local household income ($52k/yr) (locally 2404% 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 $27k 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 374 days — a 12% lower offer ($791k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 23y ago; this cycle's ask has dropped $51k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $791,120 (12.0% 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 374 days. Have you received any prior offers? Is the seller open to a 12% 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 1957 — 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: 0.99% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 8.4

CMA / ARV

• ARV (median comp): $876,800
• List price: $899,000
• Delta: 2.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1749 84th Ave	0.48mi	8/4.0	3,456 (-2%)	8mo	$870,000	$252	67
6928 Fresno St	0.30mi	9/4.0 (+1)	3,820 (+8%)	2mo	$880,000	$230	66
2020 81st Ave	0.44mi	8/5.0	3,868 (+9%)	15mo	$1,130,000	$292	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 · 6.45% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.53×
• Total profit: $-117,489
• Equity at exit: $134,044

10-year hold

• IRR: 1.7%
• Equity multiple: 1.14×
• Total profit: $35,442
• Equity at exit: $77,729

Cash invested: $251,720 (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 94621

• Rents YoY: 6.5%
• Active inventory: 83
• Price-to-rent: 33.7×

Monthly cashflow live

• Estimated rent: $8,893 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$2,006 /mo · $24,071/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,868
• Net cashflow: $-69

Break-even live

Break-even rent $8,981

Max offer price $886,725

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,892
Total (4 units)			$8,893

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $899,000 Active 374 DOM
2. 2026-06-17
   days on market $899,000 Active 373 DOM
3. 2026-06-16
   days on market $899,000 Active 372 DOM
4. 2026-06-15
   days on market $899,000 Active 371 DOM
5. 2026-06-13
   days on market $899,000 Active 369 DOM
6. 2026-06-13
   days on market $899,000 Active 368 DOM
7. 2026-06-09
   days on market $899,000 Active 365 DOM
8. 2026-06-08
   days on market $899,000 Active 364 DOM
9. 2026-06-07
   days on market $899,000 Active 363 DOM
10. 2026-06-04
    days on market $899,000 Active 360 DOM
11. 2026-06-03
    days on market $899,000 Active 359 DOM
12. 2026-06-02
    days on market $899,000 Active 358 DOM
13. 2026-06-01
    days on market $899,000 Active 357 DOM
14. 2026-05-31
    days on market $899,000 Active 356 DOM
15. 2026-01-12
    status Active 932-char remark

    Show marketing remark (932 chars)

    Welcome to 7448 Lockwood Street, a spacious and income-producing fourplex located in the heart of East Oakland. This well-maintained property features four 2-bedroom, 1-bath units, each offering approximately 885 square feet of comfortable living space. Each unit is separately metered for gas, electricity, and water, providing convenience and flexibility for both owner and tenants. A detached on-site laundry room adds an additional income stream. Situated on a large, flat 10,000 sq ft lot, this property offers development potential—build additional units or expand to maximize your return (buyer to verify). Conveniently located near Highways 580 and 880 and just minutes from the Eastmont Town Center, this property is a prime location for tenants and commuters alike. Don't miss this exceptional opportunity to own a strong cash-flowing asset with upside potential in one of Oakland’s high-demand rental markets.

16. 2025-12-18
    historical 932-char remark

    Show marketing remark (932 chars)

    Welcome to 7448 Lockwood Street, a spacious and income-producing fourplex located in the heart of East Oakland. This well-maintained property features four 2-bedroom, 1-bath units, each offering approximately 885 square feet of comfortable living space. Each unit is separately metered for gas, electricity, and water, providing convenience and flexibility for both owner and tenants. A detached on-site laundry room adds an additional income stream. Situated on a large, flat 10,000 sq ft lot, this property offers development potential—build additional units or expand to maximize your return (buyer to verify). Conveniently located near Highways 580 and 880 and just minutes from the Eastmont Town Center, this property is a prime location for tenants and commuters alike. Don't miss this exceptional opportunity to own a strong cash-flowing asset with upside potential in one of Oakland’s high-demand rental markets.

17. 2025-09-15
    price $899,000 932-char remark

    Show marketing remark (932 chars)

    Welcome to 7448 Lockwood Street, a spacious and income-producing fourplex located in the heart of East Oakland. This well-maintained property features four 2-bedroom, 1-bath units, each offering approximately 885 square feet of comfortable living space. Each unit is separately metered for gas, electricity, and water, providing convenience and flexibility for both owner and tenants. A detached on-site laundry room adds an additional income stream. Situated on a large, flat 10,000 sq ft lot, this property offers development potential—build additional units or expand to maximize your return (buyer to verify). Conveniently located near Highways 580 and 880 and just minutes from the Eastmont Town Center, this property is a prime location for tenants and commuters alike. Don't miss this exceptional opportunity to own a strong cash-flowing asset with upside potential in one of Oakland’s high-demand rental markets.

18. 2025-05-14
    listed $950,000 Active 932-char remark

    Show marketing remark (932 chars)

    Welcome to 7448 Lockwood Street, a spacious and income-producing fourplex located in the heart of East Oakland. This well-maintained property features four 2-bedroom, 1-bath units, each offering approximately 885 square feet of comfortable living space. Each unit is separately metered for gas, electricity, and water, providing convenience and flexibility for both owner and tenants. A detached on-site laundry room adds an additional income stream. Situated on a large, flat 10,000 sq ft lot, this property offers development potential—build additional units or expand to maximize your return (buyer to verify). Conveniently located near Highways 580 and 880 and just minutes from the Eastmont Town Center, this property is a prime location for tenants and commuters alike. Don't miss this exceptional opportunity to own a strong cash-flowing asset with upside potential in one of Oakland’s high-demand rental markets.

19. 2024-08-21
    historical
20. 2024-08-20
    historical $1,995
21. 2024-08-10
    price $1,995
22. 2024-07-30
    listed $2,000
23. 2024-07-05
    status Active
24. 2024-06-14
    status Pending
25. 2024-04-10
    historical $2,400
26. 2024-02-09
    listed Active
27. 2024-01-30
    listed $2,400
28. 2022-03-10
    soldstatus $1,000,000
29. 2019-04-25
    soldstatus $800,000 Sold
30. 2019-04-25
    soldstatus $800,000 Sold
31. 2019-04-25
    soldstatus $800,000
32. 2019-04-25
    soldstatus $800,000
33. 2019-04-05
    status Pending
34. 2019-04-05
    status Pending (Do Not Show)
35. 2019-03-19
    historical Contingent
36. 2019-03-19
    historical Contingent
37. 2019-03-04
    listed $800,000 Active
38. 2019-03-04
    listed $800,000 New
39. 2019-03-04
    listed $800,000
40. 2015-04-07
    soldstatus $599,000 Sold
41. 2015-04-07
    soldstatus $599,000
42. 2015-04-07
    soldstatus $599,000
43. 2015-03-11
    status Pending
44. 2015-02-13
    listed $599,000 New
45. 2015-02-13
    listed $599,000
46. 2004-01-23
    soldstatus $488,000
47. 2004-01-23
    soldstatus $488,000
48. 2003-11-21
    listed $495,000
49. 1997-12-19
    soldstatus $125,000
50. 1981-05-20
    soldstatus $238,600

ⓘ 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: $24,071 · $2,006/mo
• Projected year-2 tax: $24,071 · $2,006/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 4/10 Moderate 7 d/yr ≥84°F today · 15 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: $106,716
• − Mortgage interest: −$50,358
• − Property taxes: −$24,071
• − Insurance: −$4,495
• − Repairs & maintenance: −$8,537
• − Management: −$8,537
• − Depreciation: −$26,153
• Taxable loss: −$15,435
• Est. tax savings @ 24.0%: +$3,704
• After-tax cash flow: $2,871/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): 33,840
• Household income: $52,049
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 2404.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 24% Two or more races 14% White 6% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Italian 1%
• Foreign-born: 35% · Canada, China, Vietnam
• Languages at home: 40% English-only · Spanish 53% Arabic 2% Other Asian/Pacific 2%

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: ▼ -346.43%
• Current HPI: 523.2253
• Rent YoY: ▲ 6.45%
• 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

+276.8% since first listed

36 events — show timeline

• 2026-01-12 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-12-18 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-09-15 Price Changed $899,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-05-14 Listed $950,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-08-21 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-08-20 Rental Removed $1,995 APPFOLIO
• 2024-08-10 Price Changed $1,995 APPFOLIO
• 2024-07-30 Listed for Rent $2,000 APPFOLIO
• 2024-07-05 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-06-14 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-04-10 Rental Removed $2,400 APPFOLIO
• 2024-02-09 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-01-30 Listed for Rent $2,400 APPFOLIO
• 2022-03-10 Sold (Public Records) $1,000,000 Public Records
• 2019-04-25 Sold (Public Records) $800,000 Public Records
• 2019-04-25 Sold (MLS) $800,000 SDMLS
• 2019-04-25 Sold (MLS) $800,000 MLSListings
• 2019-04-25 Sold (MLS) $800,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-04-05 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-04-05 Pending — MLSListings
• 2019-03-19 Contingent — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-03-19 Contingent — MLSListings
• 2019-03-04 Listed $800,000 MLSListings
• 2019-03-04 Listed $800,000 SDMLS
• 2019-03-04 Listed $800,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-04-07 Sold (Public Records) $599,000 Public Records
• 2015-04-07 Sold (MLS) $599,000 SDMLS
• 2015-04-07 Sold (MLS) $599,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-03-11 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-02-13 Listed $599,000 SDMLS
• 2015-02-13 Listed $599,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-01-23 Sold (Public Records) $488,000 Public Records
• 2004-01-23 Sold (MLS) $488,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2003-11-21 Listed $495,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1997-12-19 Sold (Public Records) $125,000 Public Records
• 1981-05-20 Sold (Public Records) $238,600 Public Records

Property tax history

+6.3%/yr

Latest (2025): $24,071 · +37.4% YoY. Source: county tax records.