Real Estate Investing in San Francisco, California (94104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 94104 (San Francisco, CA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Declining values: -2.0% 5-year CAGR — values have moved lower.
- Elevated vacancy: 10.0% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- Higher unemployment: 18.9% unemployment — tenant risk signal.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in San Francisco, CA (94104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 94104 San Francisco
ZIP 94104 in San Francisco, CA carries a healthy set of headwinds. Home values near $1.2M and rents of $3,420/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 94104 comes in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 94104 sits on the difficult end of the CA spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 94104 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Distressed ZIPs reward experience. significant returns are possible in 94104, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in San Francisco:
Market Trends
Home Value History (with trend line)
📊 How Does 94104 Compare?
| Metric | 94104 | San Francisco | San Francisco-Oakland-Berkeley, CA | California |
|---|---|---|---|---|
| Home Value | $1,155,478 | $693,502 | N/A | $761,003 |
| 5-Year CAGR | N/A | N/A | N/A | 5.7% |
| Avg Rent | $3,420 | $4,437 | N/A | - |
| Cap Rate | 2.3% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 94104 (San Francisco, CA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 94104 (San Francisco, CA)?
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Property managers serving San Francisco County
Manage rentals here? List your business →2B Living offers reimagined property management services, including residential management, property onboarding, accounting, and reporting, for properties around the Bay Area. summary from their website
Azari Property Management provides one-stop real estate service as a property management company since 2006. summary from their website
Boardwalk Investments Property Management specializes in property management and leasing in San Francisco and the Northern Peninsula. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,155,478 |
| Monthly Rent | $3,420 |
| Price-to-Rent | 28.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.3% |
| 5-Year IRR | 0.3% |
📈 Home Appreciation
| 1-Year | +1.8% ▲ |
| 3-Year CAGR | -0.4% ▼ |
| 5-Year CAGR | -2.0% ▼ |
| 10-Year CAGR | -3.0% ▼ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 94104
Population: 478
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 94104
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Everett Middle
Francisco Middle
King (Thomas Starr) Elementary
Lick (James) Middle
O'Connell (John) High
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How strong are rents in San Francisco, CA?
Investors in San Francisco, CA typically see rents near $3,420/mo per month against $1.2M home values - a solid setup for rental cash flow.
How do home values compare in San Francisco, CA?
Homes in San Francisco, CA typically sell near $1.2M. Prices have moved at a 0.0% 5-year CAGR, which consistent long-term demand.
What is the investability score for San Francisco, CA?
San Francisco, CA reports an investability rating of 2.0/5, with median home values near $1.2M and average rents around $3,420/mo. That combination puts it in the notable tier for investor interest.
What is the typical vacancy rate in San Francisco, CA?
San Francisco, CA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is San Francisco, CA landlord-friendly?
CA ranks as a tenant-protective state for landlord-tenant law. San Francisco generally follows the statewide framework, so landlords face reasonable operating rules.
You know 94104 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 94104 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 94104 ranks in San Francisco-Oakland-Berkeley, CA
Every ZIP in this metro, ranked. Free.
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