1155 International Blvd

Oakland, CA 94606

$909,000C+

None bd · None ba · — sqft · Built — · MultiFamily · Active · 303 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $11,649/mo
• Mortgage (P&I): −$4,767
• Tax + insurance: −$1,515
• HOA: −$0
• Vac / Maint / Mgmt: −$2,446
• Net cashflow: $2,921/mo
• Annual: $35,050/yr
• Cap rate: 10.15%
• Cash-on-cash: 13.77%
• DSCR: 1.61
• 1% rule: 1.28%
• Cash to close: $254,520

Investor read

• This is a multifamily listed at $909k. Condition is rated poor.
• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $909k).
• It's been on market 303 days — a 12% lower offer ($800k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $800k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 71/100 on livability (#224 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: 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.
• Zoned schools: Franklin Elementary (496 students, 94% FRL); Roosevelt Middle (593 students, 95% FRL); Oakland High (1,531 students, 88% FRL) — zoned schools average 92% FRL vs 68% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.9%/yr); 127 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 12y ago; this cycle's ask has dropped $141k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $570k; list at $909k implies a 59% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $255k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 10.1% vs local median 2.5% 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.
• At $11,649/mo this rent would consume 193% of the median local household income ($72k/yr) (locally 3757% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 303 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: broken windows — Structural damage
• Major: exterior paint — Severe graffiti and peeling paint
• Major: landscaping — Overgrown and unkempt