2823 U St · Sacramento, CA 95817

$1,495,000

120 bd · 10.0 ba · 7,830 sqft · MultiFamily public records · 10 Days on market

Built 1962 6,534 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• 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: 10 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

2823 U Street, a well-located 10-unit apartment community in one of Sacramento's most desirable urban neighborhoods. Situated just blocks from the vibrant Midtown corridor and in close proximity to East Sacramento, the property benefits from strong tenant demand driven by its walkability, access to major employment centers, and proximity to Sacramento's best dining, retail, and entertainment amenities. The property offers a compelling value-add opportunity through continued unit renovations and rent growth. Current operations indicate meaningful upside as units are modernized and rents are aligned with surrounding market-rate properties. The underwriting projects a significant increase in n

Key facts

• Unit renovations
• Modernized units
• Walkability

Tags

• 10 UNIT APARTMENT COMMUNITY
• STRONG TENANT DEMAND
• WALKABILITY
• VALUE ADD OPPORTUNITY
• UNIT RENOVATIONS
• MODERNIZED UNITS

Property features AI

Finance

• Other: Address: 2823 U St, Sacramento, CA 95817
• Financial info: Multi-unit property with 10 total units
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking
• Utilities: City utilities; Public water; Public sewer; Irrigation supplied by irrigation district
• Home design: Residential income property; Apartments (5+ units); Built in 1962
• Exterior features: Front and back landscaping

Interior

• Bedrooms: One-bedroom units (unit-level info available)
• Flooring: Vinyl
• Bathrooms: One full bathroom per unit (unit-level info available)
• Heating & cooling: Wall furnace heating; Wall-mounted cooling units
• Interior features: Vinyl flooring; Two-story building
• Laundry & utility: Laundry: Other

What this means for you Summary

Snapshot

• This is a 10 × 12-bed/?-bath units multifamily listed at $1.50M.

Deal economics

• At list price, monthly cash flow is $11k ($132k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($26k rent vs $1.50M).
• Cap rate 15.1% vs local median 3.0% in Sacramento — 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 (#218 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A; Watch: schools D+, crime F, cost of living F.
• Sacramento City Unified (urban): math 32% / reading 43% proficiency, ranked #804 of 1,400 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.3%/yr); 68 active listings in the ZIP; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• At $26,207/mo this rent would consume 490% of the median local household income ($64k/yr) (locally 1529% 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 $10k of loan paydown is wiped out by about $45k 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.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $419k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $1.08M; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $1,495,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.75% ✓
• Cap rate: 15.09%
• Cash-on-cash: 31.42%
• DSCR: 2.40
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.27% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 1.98×
• Total profit: $411,043
• Equity at exit: $222,909

10-year hold

• IRR: 31.1%
• Equity multiple: 3.58×
• Total profit: $1,079,257
• Equity at exit: $129,260

Cash invested: $418,600 (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 95817

• Rents YoY: 1.3%
• Active inventory: 68
• Price-to-rent: 47.5×

Monthly cashflow live

• Estimated rent: $26,207 medium
• Mortgage (P&I): −$7,840
• Tax from tax record: −$1,280 /mo · $15,356/yr
• Insurance: −$623
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,503
• Net cashflow: $10,961

Break-even live

Break-even rent $12,332

Max offer price $1,495,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 10× units	12	—	$26,210
Total (10 units)			$26,207

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: $373,750
• Closing costs: $44,850
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $1,495,000 Active 10 DOM
2. 2026-06-17
   days on market $1,495,000 Active 9 DOM
3. 2026-06-16
   days on market $1,495,000 Active 8 DOM
4. 2026-06-15
   days on market $1,495,000 Active 7 DOM
5. 2026-06-13
   days on market $1,495,000 Active 5 DOM
6. 2026-06-13
   days on market $1,495,000 Active 4 DOM
7. 2026-06-08
   remarks 699-char remark
8. 2026-06-08
   listed $1,495,000 Active 1 DOM

ⓘ 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: $15,356 · $1,280/mo
• Projected year-2 tax: $15,356 · $1,280/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 6/10 Major FEMA zone X · 71% 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 27 unhealthy d/yr today · 33 by 30 yrs out

Taxation est. · year 1

• Rental income: $314,484
• − Mortgage interest: −$83,743
• − Property taxes: −$15,356
• − Insurance: −$7,475
• − Repairs & maintenance: −$25,159
• − Management: −$25,159
• − Depreciation: −$43,491
• Taxable income: $114,101
• Est. tax owed @ 24.0%: −$27,384
• After-tax cash flow: $104,147/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: Sacramento City Unified
• NCES district ID: 0633840
• Math proficiency: 32% ▬ 0.00%
• Reading proficiency: 43% ▲ 3.00%
• Median HH income: $49,280
• Composite: 34.86/100
• National rank: #10000
• State rank: #804 of 1400 in CA

Livability — Sacramento

• Score: 71/100
• State rank: #218
• US rank: #6957

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sacramento, CA
• County: Sacramento County · 1,539,646 people
• City population: 761,410
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 14,219
• Household income: $64,212
• Rent vs Own: 62.7% rent · 37.3% own
• Severe rent burden: 1529.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 43% Hispanic / Latino 24% Two or more races 13% Black 12% Asian 11% Native American 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 19% Dominican 1%
• Common ancestry: Italian 4% Slovak 2% Portuguese 2%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 9% Other Asian/Pacific 3% Russian/Polish/Slavic 2%

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: ▼ -402.45%
• Current HPI: 617.5913
• Rent YoY: ▲ 1.27%
• 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

+82.4% since first listed

3 events — show timeline

• 2026-05-19 Sold (Public Records) $1,085,000 Public Records
• 2005-08-12 Sold (Public Records) $900,000 Public Records
• 2002-06-14 Sold (Public Records) $595,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $15,356 · +1.4% YoY. Source: county tax records.