1808-1814 Mason St · San Pablo, CA 94806

$899,000

16 bd · 16.0 ba · 2,928 sqft · MultiFamily · 48 Days on market

Built 1985 6,650 sqft lot $307/sqft · 18% above area Est $764k · 18% over ↓ 3% since listing

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Why this score? — see what drove the F 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 +12.2/30.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

2.75% INTEREST RATE! Sellers have an assumable loan option and can pass this incredible rate on to the right buyer. In todays market, this rate is almost unheard of. Call listing agent for details. Do not disturb occupants. Contact listing agent Helena Fudge [phone] for all showings. Welcome to 1808–1814 Mason St. , a stunningly modernized duplex offering a rare side-by-side townhouse-style layout with strong income potential and flexible living. Each spacious unit features 2 bedrooms, 2 bathrooms, and a versatile bonus loft/attic space ideal for a home office, playroom, or flex use. Thoughtfully designed with soaring vaulted ceilings, skylights, and open-concept living areas,

Key facts

• Updated kitchens
• Skylights
• 6,650 sq ft lot

Tags

• SIDE BY SIDE TOWNHOUSE LAYOUT
• BONUS LOFT ATTIC SPACE
• SOARING VAULTED CEILINGS
• SKYLIGHTS
• OPEN CONCEPT LIVING AREAS
• UPDATED KITCHENS

Property features AI

Finance

• Other: Total building area approximately 2,928 square feet; Lot size about 0.15 acres
• Financial info: No financial or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: 4 total parking spaces; Attached garage; Off-street parking; Side yard access; Garage faces front; 2 parking spaces assigned per unit
• Security: No specific security features provided
• Utilities: Public water; Public sewer
• Home design: Residential income duplex; Built in 1985
• Construction: Stucco and wood siding exterior
• Exterior features: Front yard; Back yard; Side yard; Patio; Storage; Yard space; Fenced; Rectangular lot

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Duplex with 2 units (total 2 units)
• Flooring: Laminate flooring; Vinyl flooring; Carpet
• Bathrooms: Each unit has 2 bathrooms
• Heating & cooling: Natural gas heating; Wall furnaces; No air conditioning
• Interior features: Gas water heater
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/2.0-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $-179 ($-2k/yr) — negative. Per door: $-45/mo.
• To cash-flow at today's rent, offer at most $873k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $764k (15.0% below list).
• Recommended offer: $764k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.9% in San Pablo — 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 58/100 on livability (#715 in CA) — a working-class tenant base; expect higher turnover. Strengths: commute A+, housing B+; Watch: schools F, crime F, amenities F.
• West Contra Costa Unified (suburban): math 24% / reading 35% proficiency, ranked #993 of 1,400 in CA (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.1%/yr); 125 active listings in the ZIP; solid renter incomes; 2,169 units permitted in Contra Costa County in 2024 (896 in 5+ unit buildings).
• At $7,638/mo this rent would consume 107% of the median local household income ($86k/yr) (locally 2830% 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.
• Contra Costa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($872k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Recommended offer $763,800 (15.0% 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 48 days. Have you received any prior offers? Is the seller open to a 15% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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?
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: 0.85% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.85%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (median comp): $764,371
• List price: $899,000
• Delta: 17.61%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.06% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-156,486
• Equity at exit: $134,044

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-148,562
• Equity at exit: $77,729

Cash invested: $251,720 (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 94806

• Rents YoY: 3.1%
• Active inventory: 125
• Price-to-rent: 39.2×

Monthly cashflow live

• Estimated rent: $7,638 high
• Mortgage (P&I): −$4,714
• Tax est. 1.5%: −$1,124 /mo · $13,485/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,604
• Net cashflow: $-179

Break-even live

Break-even rent $7,864

Max offer price $873,132

Occupancy floor 97%

Sensitivity live

Price	-10% $443	-5% $132	+0% $-179	+5% $-489	+10% $-800
Rent	-10% $-782	-5% $-480	+0% $-179	+5% $123	+10% $425
Rate	-1.0pp $274	-0.5pp $50	base $-179	+0.5pp $-412	+1.0pp $-649

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	2	$7,640
Total (4 units)			$7,638

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 18 events

1. 2026-06-21
   days on market $899,000 Active 48 DOM
2. 2026-06-18
   days on market $899,000 Active 45 DOM
3. 2026-06-17
   days on market $899,000 Active 44 DOM
4. 2026-06-16
   days on market $899,000 Active 43 DOM
5. 2026-06-15
   pricedays on market $899,000 Active 42 DOM
6. 2026-06-13
   days on market $929,000 Active 40 DOM
7. 2026-06-13
   days on market $929,000 Active 39 DOM
8. 2026-06-09
   days on market $929,000 Active 36 DOM
9. 2026-06-08
   days on market $929,000 Active 35 DOM
10. 2026-06-07
    days on market $929,000 Active 34 DOM
11. 2026-06-04
    days on market $929,000 Active 31 DOM
12. 2026-06-03
    days on market $929,000 Active 30 DOM
13. 2026-06-02
    days on market $929,000 Active 29 DOM
14. 2026-06-01
    days on market $929,000 Active 28 DOM
15. 2026-05-31
    days on market $929,000 Active 27 DOM
16. 2026-05-04
    listed $929,000 Active 1055-char remark
17. 2021-03-23
    historical
18. 2021-03-22
    listed New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,656
• − Mortgage interest: −$50,358
• − Property taxes: −$13,485
• − Insurance: −$4,495
• − Repairs & maintenance: −$7,332
• − Management: −$7,332
• − Depreciation: −$26,153
• Taxable loss: −$17,500
• Est. tax savings @ 24.0%: +$4,200
• After-tax cash flow: $2,055/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: West Contra Costa Unified
• NCES district ID: 0632550
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $64,837
• Composite: 30.04/100
• National rank: #11623
• State rank: #993 of 1400 in CA

Livability — San Pablo

• Score: 58/100
• State rank: #715
• US rank: #21354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Pablo, CA
• County: Contra Costa County · 1,059,880 people
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 62,546
• Household income: $86,034
• Rent vs Own: 50.1% rent · 49.9% own
• Severe rent burden: 2830.0

Population outlook (Contra Costa County) Hauer SSP2

• Today (2025): 1,287,720 people
• By 2030: 1,364,937 · +6.0%
• By 2040: 1,506,209 · +17.0%
• By 2050: 1,624,373 · +26.1%
• By 2075: 1,853,193 · +43.9%
• By 2100: 1,901,231 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 51% Two or more races 16% Asian 16% Black 13% White 12% Native American 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Estonian 2% Italian 1% Russian 1%
• Foreign-born: 38% · Canada, China, Vietnam
• Languages at home: 39% English-only · Spanish 43% Other Indo-European 4% Tagalog/Filipino 3%

Political lean MEDSL · Contra Costa

• 2024 margin: Solid D (+38.0) · D 67.3% · R 29.4% · Other 3.3%
• 2008→2024 swing: +0.2pp no change · 2008: 37.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+45.3 2016: D+43.5 2012: D+33.7 2008: D+37.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -665.89%
• Current HPI: 323.0082
• Rent YoY: ▲ 3.06%
• 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

-3.2% since first listed

4 events — show timeline

• 2026-06-15 Price Changed $899,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-04 Listed $929,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-03-23 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-03-22 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR