Score
0Oakland, CA
3420 Delaware St
880K
6 beds
5 baths
2,671 sqft
6 bd • 5 ba • 2,671 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$880,000
Price/Sq.Ft
$329
Year Built
1965
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This triplex in Oakland's Laurel District offers excellent value at $329.46/sqft, which is approximately 20% below the Oakland average of $411/sqft for multi-family properties. With 2,671 sqft, it's spacious and provides versatile living arrangements with two 2-bed/2-bath units and one 2-bed/1-bath unit. The property includes valuable amenities like three attached garages and on-site coin laundry, which can generate additional income. Its location in the desirable Laurel District adds to its appeal, with a median household income of $115,087, indicating a stable rental market. The property's minimal flood (1/10) and fire (1/10) risk scores are significantly better than Oakland averages, potentially leading to lower insurance costs.
The Bad
The property, built in 1965, may require updates to major systems soon. The lack of central air conditioning could be a drawback for some tenants, especially considering the moderate heat risk (3/10) with 7 hot days per year. The nearby schools have below-average ratings (Fruitvale Elementary 2/10, Bret Harte Middle 3/10), which might affect the tenant pool for families. The property's price history shows multiple price reductions and listing removals since 2023, indicating potential challenges in selling or possible underlying issues.
The Ugly
The severe air quality risk (8/10) with 14 bad air days per year is a significant concern, potentially affecting tenant health and satisfaction. The property's extensive price history, with numerous price changes and listing removals since 2023, suggests possible underlying issues or overpricing. The current price of $880,000 is still 22% lower than its initial 2023 listing at $1,100,000, indicating a substantial market correction or potential problems with the property. The wall furnace heating system is outdated and may need replacement soon, a potentially costly upgrade for a triplex of this size.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for experienced real estate investors looking for a value-add opportunity in a desirable Oakland neighborhood. It's ideal for those with a household income of $200,000+ (based on a 28% front-end DTI ratio for a $704,000 loan at current rates). The triplex structure appeals to investors seeking steady cash flow from multiple units, with potential for forced appreciation through upgrades. It's also suitable for owner-occupants who can live in one unit and rent out the others, leveraging rental income to offset mortgage costs.
Not For
This property is not suitable for first-time homebuyers due to its complexity as a triplex and potential for significant maintenance and management responsibilities. It's not ideal for investors seeking a turnkey property, as it may require updates and ongoing maintenance given its age. The property may not appeal to families prioritizing top-rated schools, given the below-average school ratings in the immediate area. Those with respiratory issues should be cautious due to the high air quality risk score.
Demographics
Area Median Income
$115,087
Property History
Price History
Ownership Timeline
$900,000Financed
Jun 5, 2018Linghong Tang, Jiang LiuSean Collins
Grant Deed
Standard Sale (Purchase/Resales)
$636,500Financed
Dec 29, 2015Su Lian Yang Chan, The Carl F Chan & Su Lian Yang Chan LiviLinghong Tang, Jiang Liu
Grant Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Apr 15, 2005Carl F Chan, Su Lian Yang ChanCarl F Chan, Su Lian Yang Chan
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Jul 10, 2001Carl F & Su Lian Yang Chan Living TrustCarl F Chan, Su Lian Yang Chan
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Jul 14, 2000Chan Carl F & Su LCarl F & Su Lian Yang Chan Living Trust
Intrafamily Transfer
Non-Arm's Length Transactions
$196,000Financed
Jun 14, 1996Pack Shum Yaep, Kwan Sin YaepCarl F Chan, Su Lian Yang Chan
Grant Deed
Standard Sale (Purchase/Resales)
Property Taxes
$15,834
2024 Tax Assessment
4.5%from previous year
Assessed Value$1,003,950
Tax Rate1.58%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
3.0/10
Below AverageHigh
5.0/10
AverageFinancials
Monthly Costs
Market Rent (6 bed)
Get a detailed estimate on Zillow$1,658
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$880,000
Price/sqft
$329
Layout
6 bd•5 ba
Days on market
7 daysat time of analysis
Stats in the Area
Based on 3 comparable properties nearby
Average Price
$1,220,000
27.9%
Your price is 27.9% below average
Median Price
$1,300,000
32.3%
Based on 3 recent sales
Price per Sq.Ft
$481
31.5%
Your price is 31.5% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 3178 Birdsall Ave, Oakland, CA 94619 | $1,300,000 | 2,686 | N/A | N/A | $48446.9% | 10/29/2024 |
| 3178 Birdsall Ave, Oakland, CA 94619 | $1,300,000 | 2,686 | 6 | 4 | $48446.9% | 10/28/2024 |
| 2568 Scenic Ave, Oakland, CA 94602 | $1,060,000 | 2,225 | 6 | N/A | $47644.6% | 9/19/2024 |
3178 Birdsall Ave, Oakland, CA 94619
Price: $1,300,000
Sq.Ft: 2,686
Beds/Baths: N/A/N/A
$/Sq.Ft:
$48446.9%
Sale Date: 10/29/2024
3178 Birdsall Ave, Oakland, CA 94619
Price: $1,300,000
Sq.Ft: 2,686
Beds/Baths: 6/4
$/Sq.Ft:
$48446.9%
Sale Date: 10/28/2024
2568 Scenic Ave, Oakland, CA 94602
Price: $1,060,000
Sq.Ft: 2,225
Beds/Baths: 6/N/A
$/Sq.Ft:
$47644.6%
Sale Date: 9/19/2024
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