2228 Edison Ave · Arden-Arcade, CA 95821

$11,650,000

6900 bd · 207.0 ba · 51,120 sqft · MultiFamily public records · 188 Days on market

Built 1986 2.62 ac 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 +27.8/30.0
• DSCR +9.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 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: 69 units. confirmed

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 MLS

The Marion Apartments is well-maintained 69-unit multi-family community located in the Arden Arcade submarket. Approximately 80% of the units have upgraded interiors, the exterior was recently painted within the last 3 years, and there is a great opportunity to increase the income stream by converting all the units to Section 8 tenants over time. The property's quality and current income being collected make it an attractive investment day one with future growth potential. We have a call for offers scheduled for December 16th.

Key facts

• Upgraded interiors
• 2.62 acre lot
• 105 parking spots

Tags

• UPGRADED INTERIORS
• RECENTLY PAINTED EXTERIOR
• INCOME STREAM OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 69 × 100-bed/3.0-bath units multifamily listed at $11.65M.

Deal economics

• At list price, monthly cash flow is $36k ($427k/yr) — positive. Per door: $516/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($144k rent vs $11.65M).
• Recommended offer: $10.25M (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 2.3% in Arden-Arcade — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• San Juan Unified (suburban): math 40% / reading 62% proficiency, ranked #138 of 517 in CA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.5%/yr); 95 active listings in the ZIP; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• At $144,356/mo this rent would consume 2667% of the median local household income ($65k/yr) (locally 2609% 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 $81k of loan paydown is wiped out by about $350k 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.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($10.25M) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 2y 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: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $10,252,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
8. 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.
9. 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: 1.24% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.12%
• DSCR: 1.58
• GRM: 6.7

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: -0.4%
• Equity multiple: 0.99×
• Total profit: $-42,484
• Equity at exit: $1,737,053

10-year hold

• IRR: 6.0%
• Equity multiple: 1.38×
• Total profit: $1,251,479
• Equity at exit: $1,007,279

Cash invested: $3,262,000 (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 95821

• Rents YoY: -0.5%
• Active inventory: 95
• Price-to-rent: 464.0×

Monthly cashflow live

• Estimated rent: $144,356 medium
• Mortgage (P&I): −$61,094
• Tax from tax record: −$12,426 /mo · $149,106/yr
• Insurance: −$4,854
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$30,315
• Net cashflow: $35,601

Break-even live

Break-even rent $99,291

Max offer price $11,650,000

Occupancy floor 70%

Sensitivity live

Price	-10% $42,196	-5% $38,899	+0% $35,601	+5% $32,304	+10% $29,006
Rent	-10% $24,197	-5% $29,899	+0% $35,601	+5% $41,303	+10% $47,005
Rate	-1.0pp $41,468	-0.5pp $38,564	base $35,601	+0.5pp $32,582	+1.0pp $29,511

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

Units	Beds	Baths	Est. rent
▸ 69× units	100	3	$144,348
Total (69 units)			$144,356

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: $2,912,500
• Closing costs: $349,500
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-09
   days on market $11,650,000 Active 188 DOM
2. 2026-06-08
   days on market $11,650,000 Active 187 DOM
3. 2026-06-07
   days on market $11,650,000 Active 186 DOM
4. 2026-06-05
   days on market $11,650,000 Active 183 DOM
5. 2026-06-03
   days on market $11,650,000 Active 182 DOM
6. 2026-06-02
   days on market $11,650,000 Active 181 DOM
7. 2026-06-01
   days on market $11,650,000 Active 180 DOM
8. 2026-05-31
   days on market $11,650,000 Active 179 DOM
9. 2025-12-03
   listed $11,650,000 Active 532-char remark

   Show marketing remark (532 chars)

   The Marion Apartments is well-maintained 69-unit multi-family community located in the Arden Arcade submarket. Approximately 80% of the units have upgraded interiors, the exterior was recently painted within the last 3 years, and there is a great opportunity to increase the income stream by converting all the units to Section 8 tenants over time. The property's quality and current income being collected make it an attractive investment day one with future growth potential. We have a call for offers scheduled for December 16th.

10. 2025-04-10
    historical $1,480
11. 2025-03-28
    listed $1,480
12. 2025-03-27
    historical $1,530
13. 2025-03-27
    historical $1,530
14. 2025-03-27
    listed $1,530
15. 2025-03-27
    listed $1,530
16. 2025-03-08
    historical $1,530
17. 2025-02-24
    listed $1,530
18. 2025-02-21
    historical $1,865
19. 2025-02-14
    listed $1,865
20. 2025-02-14
    historical $1,860
21. 2025-01-20
    price $1,860
22. 2025-01-10
    historical $1,505
23. 2025-01-10
    listed $1,505
24. 2025-01-10
    historical $1,884
25. 2025-01-10
    listed $1,884
26. 2025-01-09
    listed $1,904
27. 2024-12-27
    historical $1,934
28. 2024-12-08
    listed $1,934
29. 2022-09-20
    soldstatus $11,810,000
30. 2015-05-01
    soldstatus $4,100,000
31. 2003-07-31
    soldstatus $4,940,000
32. 1999-12-22
    soldstatus $2,370,000
33. 1994-12-14
    soldstatus $2,200,000
34. 1980-07-22
    soldstatus $15,000
35. 1980-07-22
    soldstatus $15,000

ⓘ 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: $149,106 · $12,426/mo
• Projected year-2 tax: $149,106 · $12,426/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 7/10 Severe FEMA zone X (unshaded) · 76% 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 33 unhealthy d/yr today · 38 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,732,272
• − Mortgage interest: −$652,581
• − Property taxes: −$149,106
• − Insurance: −$59,048
• − Repairs & maintenance: −$138,582
• − Management: −$138,582
• − Depreciation: −$338,909
• Taxable income: $255,465
• Est. tax owed @ 24.0%: −$61,312
• After-tax cash flow: $365,903/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 Juan Unified
• NCES district ID: 0634620
• Math proficiency: 40% ▲ 3.00%
• Reading proficiency: 62% ▲ 16.00%
• Median HH income: $55,655
• Composite: 44.07/100
• National rank: #2878
• State rank: #138 of 517 in CA

Livability — Arden-Arcade

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Arden-Arcade, CA
• County: Sacramento County · 1,539,646 people
• City population: 100,586
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 38,064
• Household income: $64,963
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2609.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 50% Hispanic / Latino 20% Asian 13% Two or more races 12% Black 8%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 3% Slovak 3% Scotch-Irish 2%
• Foreign-born: 23% · Canada, China
• Languages at home: 70% English-only · Spanish 10% Other Indo-European 9% Russian/Polish/Slavic 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: ▼ -485.09%
• Current HPI: 306.3799
• Rent YoY: ▼ -0.49%
• 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

+77566.7% since first listed

27 events — show timeline

• 2025-12-03 Listed $11,650,000 San Francisco MLS
• 2025-04-10 Rental Removed $1,480 RENTALBEAST
• 2025-03-28 Listed for Rent $1,480 RENTALBEAST
• 2025-03-27 Rental Removed $1,530 RENTALBEAST
• 2025-03-27 Rental Removed $1,530 RENTALBEAST
• 2025-03-27 Listed for Rent $1,530 RENTALBEAST
• 2025-03-27 Listed for Rent $1,530 RENTALBEAST
• 2025-03-08 Rental Removed $1,530 RENTALBEAST
• 2025-02-24 Listed for Rent $1,530 RENTALBEAST
• 2025-02-21 Rental Removed $1,865 RENTALBEAST
• 2025-02-14 Listed for Rent $1,865 RENTALBEAST
• 2025-02-14 Rental Removed $1,860 RENTALBEAST
• 2025-01-20 Price Changed $1,860 RENTALBEAST
• 2025-01-10 Rental Removed $1,505 RENTALBEAST
• 2025-01-10 Listed for Rent $1,505 RENTALBEAST
• 2025-01-10 Rental Removed $1,884 RENTALBEAST
• 2025-01-10 Listed for Rent $1,884 RENTALBEAST
• 2025-01-09 Listed for Rent $1,904 RENTALBEAST
• 2024-12-27 Rental Removed $1,934 RENTALBEAST
• 2024-12-08 Listed for Rent $1,934 RENTALBEAST
• 2022-09-20 Sold (Public Records) $11,810,000 Public Records
• 2015-05-01 Sold (Public Records) $4,100,000 Public Records
• 2003-07-31 Sold (Public Records) $4,940,000 Public Records
• 1999-12-22 Sold (Public Records) $2,370,000 Public Records
• 1994-12-14 Sold (Public Records) $2,200,000 Public Records
• 1980-07-22 Sold (Public Records) $15,000 Public Records
• 1980-07-22 Sold (Public Records) $15,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $149,106 · +2.3% YoY. Source: county tax records.