3134 Pleitner Ave · Oakland, CA 94602

$1,600,000

16 bd · 11.0 ba · 6,344 sqft · MultiFamily public records · 602 Days on market

Built 2009 4,860 sqft lot

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Why this score? — see what drove the D- 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 +12.1/30.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• 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 MLS

Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

Key facts

• 4,860 sq ft lot
• Garage
• Built 2009

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2.2-bath units multifamily listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $-345 ($-4k/yr) — negative. Per door: $-86/mo.
• To cash-flow at today's rent, offer at most $1.54M (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.35M (15.8% below list).
• Recommended offer: $1.35M (15.8% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.4% 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.

Location & tenants

• Location reads 71/100 on livability (#224 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: schools C-, 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.
• Market conditions: Rents rising fast (+5.5%/yr); 111 active listings in the ZIP; high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $13,475/mo this rent would consume 132% of the median local household income ($122k/yr) (locally 1018% 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 $11k of loan paydown is wiped out by about $48k 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 602 days — a 12% lower offer ($1.41M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago; this cycle's ask has dropped $150k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.30M; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $1,347,500 (15.8% 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 602 days. Have you received any prior offers? Is the seller open to a 16% 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. 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. 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: 0.84% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.92%
• DSCR: 0.96
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.5% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.45×
• Total profit: $-246,352
• Equity at exit: $238,565

10-year hold

• IRR: -2.8%
• Equity multiple: 0.79×
• Total profit: $-92,115
• Equity at exit: $138,339

Cash invested: $448,000 (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 Oakland: 0 Strongly Tenant-Friendly · D+62

Rent Adjustment Program + Just Cause.

Methodology + full state rankings →

ZIP-level market 94602

• Rents YoY: 5.5%
• Active inventory: 111
• Price-to-rent: 39.6×

Monthly cashflow live

• Estimated rent: $13,475 high
• Mortgage (P&I): −$8,391
• Tax from tax record: −$1,933 /mo · $23,199/yr
• Insurance: −$667
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,830
• Net cashflow: $-345

Break-even live

Break-even rent $13,912

Max offer price $1,539,019

Occupancy floor 98%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2.2	$13,476
Total (4 units)			$13,475

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: $400,000
• Closing costs: $48,000
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $1,600,000 Active 602 DOM
2. 2026-06-17
   days on market $1,600,000 Active 601 DOM
3. 2026-06-16
   days on market $1,600,000 Active 600 DOM
4. 2026-06-15
   days on market $1,600,000 Active 599 DOM
5. 2026-06-13
   days on market $1,600,000 Active 597 DOM
6. 2026-06-13
   days on market $1,600,000 Active 596 DOM
7. 2026-06-09
   days on market $1,600,000 Active 593 DOM
8. 2026-06-08
   days on market $1,600,000 Active 592 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    statusdays on market $1,600,000 Active 591 DOM
11. 2026-04-19
    status Pending
12. 2026-03-09
    price $1,600,000
13. 2026-01-08
    status Active
14. 2026-01-01
    historical Active Under Contract
15. 2025-12-31
    status Pending
16. 2025-01-15
    status Active
17. 2025-01-03
    historical
18. 2024-12-02
    status Active
19. 2024-11-30
    historical
20. 2024-08-25
    listed $1,750,000 Active
21. 2020-02-10
    soldstatus $1,300,000 Sold 602-char remark

    Show marketing remark (602 chars)

    Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

22. 2020-02-07
    soldstatus $1,300,000
23. 2020-02-06
    status Pending - Show for Backups 602-char remark

    Show marketing remark (602 chars)

    Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

24. 2020-02-05
    historical Contingent 602-char remark

    Show marketing remark (602 chars)

    Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

25. 2019-04-25
    status Back On Market 602-char remark

    Show marketing remark (602 chars)

    Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

26. 2019-04-24
    price $1,399,000 602-char remark

    Show marketing remark (602 chars)

    Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

27. 2019-04-24
    historical 602-char remark

    Show marketing remark (602 chars)

    Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

28. 2019-04-24
    status Back On Market 602-char remark

    Show marketing remark (602 chars)

    Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

29. 2018-10-08
    historical 602-char remark

    Show marketing remark (602 chars)

    Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

30. 2018-07-10
    listed $1,488,000 New 602-char remark

    Show marketing remark (602 chars)

    Three houses one lot. Live in Victorian style vacant front house, was built in 1904. Rent out two rear modern contemporary style twin townhouses built in 2009. Each townhouse has 4 bedrooms and 3.5 bath to generate 6K monthly mortgage help income. No rent control on newer construction townhouses. 4 electrical meters, 3 separate meters for gas, and a single water meter. Great potential for those with a vision to possibly convert to 4th unit. A lot of attic room for storage. List for $219 per square feet on 6,402 square feet living space. Too many details to list. Stop by and see it yourself.

31. 2000-06-26
    soldstatus $240,000
32. 1999-12-03
    soldstatus $116,000

ⓘ 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: $23,199 · $1,933/mo
• Projected year-2 tax: $23,199 · $1,933/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $161,700
• − Mortgage interest: −$89,625
• − Property taxes: −$23,199
• − Insurance: −$8,000
• − Repairs & maintenance: −$12,936
• − Management: −$12,936
• − Depreciation: −$46,545
• Taxable loss: −$31,541
• Est. tax savings @ 24.0%: +$7,570
• After-tax cash flow: $3,427/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: Oakland Unified
• NCES district ID: 0628050
• Math proficiency: 27% ▬ 0.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $55,194
• Composite: 29.52/100
• National rank: #11769
• State rank: #1007 of 1400 in CA

Livability — Oakland

• Score: 71/100
• State rank: #224
• US rank: #7245

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland, CA
• County: Alameda County · 1,614,355 people
• City population: 385,993
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 31,759
• Household income: $122,263
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1018.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: White 41% Hispanic / Latino 20% Asian 16% Black 15% Two or more races 11% Pacific Islander 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Italian 3% Lithuanian 2% Romanian 1%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 67% English-only · Spanish 14% Chinese 8% Other Asian/Pacific 2%

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: ▼ -1108.77%
• Current HPI: 275.7267
• Rent YoY: ▲ 5.50%
• 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

+1279.3% since first listed

22 events — show timeline

• 2026-04-19 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-03-09 Price Changed $1,600,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-01-08 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-01-01 Contingent — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-12-31 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-01-15 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-01-03 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-12-02 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-11-30 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-08-25 Listed $1,750,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-02-10 Sold (MLS) $1,300,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-02-07 Sold (Public Records) $1,300,000 Public Records
• 2020-02-06 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2020-02-05 Contingent — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-04-25 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-04-24 Price Changed $1,399,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-04-24 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-04-24 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-10-08 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-07-10 Listed $1,488,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2000-06-26 Sold (Public Records) $240,000 Public Records
• 1999-12-03 Sold (Public Records) $116,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $23,199 · +11.9% YoY. Source: county tax records.