2701 Grant St · Berkeley, CA 94703

$1,099,000

6 bd · 6.0 ba · 2,534 sqft · MultiFamily public records · 213 Days on market

Built 1905 2,000 sqft lot $434/sqft · 12% below area Est $1252k · 12% under ↓ 12% since listing

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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 +22.9/30.0
• ARV discount +13.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.5/10.0
• Schools +5.7/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Six unit building with five 1 bedroom units and 1 studio unit. Great South Central Berkeley location with close proximity to shopping and Berkeley eateries. Might be subject to Rent Control.

Key facts

• 2,000 sq ft lot
• Built 1905
• Listed 212 days

Tags

• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO EATERIES

What this means for you Summary

Snapshot

• This is a 5×1bd/1ba + 1×?bd/1ba units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $323/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.10M).
• Recommended offer: $967k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.0% in Berkeley — 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 77/100 on livability (#74 in CA, #2,860 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: crime F, cost of living F.
• Berkeley Unified (urban): math 61% / reading 67% proficiency, ranked #175 of 1,400 in CA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.1%/yr); 53 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $12,679/mo this rent would consume 138% of the median local household income ($110k/yr) (locally 1402% 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.
• 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 213 days — a 12% lower offer ($967k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $967,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 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 1905 — 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 A-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. 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: 1.15% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.55%
• DSCR: 1.34
• GRM: 7.2

CMA / ARV

• ARV (median comp): $1,251,859
• List price: $1,099,000
• Delta: -12.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3118 King St	0.55mi	6/3.5	2,472 (-2%)	10mo	$2,285,000	$924	52
2721 California St	0.25mi	7/5.0 (+1)	2,815 (+11%)	15mo	$870,000	$309	48
1916 Woolsey St	0.57mi	5/3.0 (-1)	2,571 (+2%)	9mo	$1,705,000	$663	47
2006 Parker St	0.27mi	5/3.0 (-1)	2,204 (-13%)	9mo	$1,350,000	$613	41
3110 California St	0.59mi	5/4.0 (-1)	2,244 (-11%)	1mo	$1,200,000	$535	39
2914 Stanton St	0.52mi	5/3.0 (-1)	2,355 (-7%)	9mo	$1,250,000	$531	39
1345 Parker St	0.55mi	7/3.0 (+1)	2,485 (-2%)	22mo	$1,100,000	$443	36
6528 Dover St	0.67mi	5/4.0 (-1)	2,236 (-12%)	9mo	$1,700,000	$760	29
1817 Woolsey St	0.54mi	5/3.0 (-1)	2,265 (-11%)	21mo	$1,040,000	$459	23
1313 Haskell St	0.75mi	5/5.0 (-1)	2,203 (-13%)	21mo	$1,530,000	$695	17

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 · 1.14% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.75×
• Total profit: $-77,526
• Equity at exit: $163,864

10-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $1,241
• Equity at exit: $95,021

Cash invested: $307,720 (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 Berkeley: 0 Strongly Tenant-Friendly · D+78

Original CA rent control city; vacancy rent control after Costa Hawkins limits.

Methodology + full state rankings →

ZIP-level market 94703

• Rents YoY: 1.1%
• Active inventory: 53
• Price-to-rent: 43.7×

Monthly cashflow live

• Estimated rent: $12,679 high
• Mortgage (P&I): −$5,763
• Tax from tax record: −$1,858 /mo · $22,299/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,663
• Net cashflow: $1,937

Break-even live

Break-even rent $10,227

Max offer price $1,099,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$10,485
1× unit	0	1	$2,196
Total (6 units)			$12,679

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: $274,750
• Closing costs: $32,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1235 Carrison St Berkeley, CA	6.0	4.0	2332	$1,950	$0.84	44d	1	0.81mi
6022 Telegraph Ave Oakland, CA	5.0	3.0	1900	$5,199	$2.74	5d	1	1.07mi
1730 Francisco St Berkeley, CA	5.0	3.5	2250	$8,000	$3.56	24d	1	1.09mi
1122 University Ave Berkeley, CA	5.0	1.0–4.0	1129	$6,420	$5.68	2d	20	1.20mi

Listing history 17 events

1. 2026-06-18
   days on market $1,099,000 Active 213 DOM
2. 2026-06-17
   days on market $1,099,000 Active 212 DOM
3. 2026-06-16
   days on market $1,099,000 Active 211 DOM
4. 2026-06-15
   days on market $1,099,000 Active 210 DOM
5. 2026-06-13
   days on market $1,099,000 Active 208 DOM
6. 2026-06-13
   days on market $1,099,000 Active 207 DOM
7. 2026-06-09
   days on market $1,099,000 Active 204 DOM
8. 2026-06-08
   days on market $1,099,000 Active 203 DOM
9. 2026-06-07
   days on market $1,099,000 Active 202 DOM
10. 2026-06-04
    days on market $1,099,000 Active 199 DOM
11. 2026-06-03
    days on market $1,099,000 Active 198 DOM
12. 2026-06-02
    days on market $1,099,000 Active 197 DOM
13. 2026-06-01
    days on market $1,099,000 Active 196 DOM
14. 2026-05-31
    days on market $1,099,000 Active 195 DOM
15. 2026-02-11
    price $1,099,000 193-char remark

    Show marketing remark (193 chars)

    Six unit building with five 1 bedroom units and 1 studio unit. Great South Central Berkeley location with close proximity to shopping and Berkeley eateries. Might be subject to Rent Control.

16. 2025-11-17
    listed $1,250,000 Active 193-char remark

    Show marketing remark (193 chars)

    Six unit building with five 1 bedroom units and 1 studio unit. Great South Central Berkeley location with close proximity to shopping and Berkeley eateries. Might be subject to Rent Control.

17. 2021-07-01
    historical

ⓘ 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: $22,299 · $1,858/mo
• Projected year-2 tax: $22,299 · $1,858/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 3/10 Moderate 7 d/yr ≥82°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $152,148
• − Mortgage interest: −$61,561
• − Property taxes: −$22,299
• − Insurance: −$5,495
• − Repairs & maintenance: −$12,172
• − Management: −$12,172
• − Depreciation: −$31,971
• Taxable income: $6,479
• Est. tax owed @ 24.0%: −$1,555
• After-tax cash flow: $21,689/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: Berkeley Unified
• NCES district ID: 0604740
• Math proficiency: 61% ▲ 2.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $66,202
• Composite: 57.37/100
• National rank: #2288
• State rank: #175 of 1400 in CA

Livability — Berkeley

• Score: 77/100
• State rank: #74
• US rank: #2860

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berkeley, CA
• County: Alameda County · 1,614,355 people
• City population: 121,632
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 20,934
• Household income: $109,881
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 1402.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 52% Asian 15% Hispanic / Latino 14% Two or more races 12% Black 12%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Scotch-Irish 4% Romanian 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 11% Other Indo-European 4% Chinese 3%

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: ▼ -1156.26%
• Current HPI: 339.6539
• Rent YoY: ▲ 1.14%
• 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

-12.1% since first listed

3 events — show timeline

• 2026-02-11 Price Changed $1,099,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-11-17 Listed $1,250,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-07-01 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+11.1%/yr

Latest (2025): $22,299 · +216.1% YoY. Source: county tax records.