Real Estate Investing in Berkeley, California (94704)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 94704 (Berkeley, 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.
- High vacancy: 14.5% of homes vacant — above national norms.
- Declining values: -1.0% 5-year CAGR — values have moved lower.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 32.2 — hard to cash-flow at these prices.
What’s happening in Berkeley, CA (94704)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 94704 Berkeley
This part of Alameda County is not an easy win. The 94704 ZIP comes in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $1.1M asset, 94704 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within CA, ZIP 94704 trails on several market indicators that neighboring Alameda County submarkets outperform. The gap is real and durable enough to shape underwriting.
Who lives in 94704 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
New investors are better served looking at Berkeley's stable or hybrid ZIPs before stepping into 94704. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Berkeley:
Property Strategy for 94704
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $543,608 | $2,180 | 2.9% | -0.3% | $543,608 |
| 2BR | $789,057 | $2,660 | 2.4% | -0.7% | $394,529 |
| 3BR | $1,304,969 | $3,400 | 1.9% | +1.5% | $434,990 |
| 4BR | $1,559,754 | $4,030 | 1.9% | +2.4% | $389,938 |
| 5BR | $1,875,035 | — | — | — | $375,007 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 94704 Compare?
| Metric | 94704 | Berkeley | San Francisco-Oakland-Berkeley, CA | California |
|---|---|---|---|---|
| Home Value | $1,149,055 | $1,269,347 | N/A | $761,003 |
| 5-Year CAGR | N/A | N/A | N/A | 5.7% |
| Avg Rent | $2,973 | $3,105 | N/A | - |
| Cap Rate | 2.0% | 1.8% | - | - |
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 94704 (Berkeley, CA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 94704 (Berkeley, CA)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Alameda County
Manage rentals here? List your business →Accountable Property Management offers residential, commercial, and HOA property management services in Hayward, CA and the Greater Bay Area Rental Market. summary from their website
Advent Properties, Inc. offers comprehensive, responsive, and professional property management and real estate services in the Bay Area, East Bay, and Sacramento regions. summary from their website
Community Association Management (CAM) provides management services for Common Interest Developments in the San Francisco Bay Area. 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 | $1,149,055 |
| Monthly Rent | $2,973 |
| Price-to-Rent | 32.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 1.0% |
📈 Home Appreciation
| 1-Year | +2.0% ▲ |
| 3-Year CAGR | -0.9% ▼ |
| 5-Year CAGR | -1.0% ▼ |
| 10-Year CAGR | +2.2% ▲ |
🏠 Rent Trends
| 1-Year | +2.4% ▲ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | +2.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). 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 94704
Population: 24,427
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 94704
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Longfellow Arts and Technology Middle
Kaiser Early Childhood Center
Claremont Middle
Willard Middle
Emery Secondary
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
Investor Insight: With 4,636 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How tight is the rental market in Berkeley, CA?
Vacancy risk in Berkeley, CA is elevated. That supports stable cash flow for typical rental holds.
Are eviction rules reasonable in Berkeley, CA?
For rental operators, Berkeley, CA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
Are rents high in Berkeley, CA?
Berkeley, CA rentals go for roughly $2,973/mo a month. That puts gross yield in solid territory relative to $1.1M acquisition costs.
Does a duplex house hack pencil in Berkeley, CA?
The a tougher house-hack environment in Berkeley, CA reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Is Berkeley, CA a good market for buy-and-hold investors?
Investors tracking Berkeley, CA will find a 2.0/5 rating supported by $1.1M median home values and $2,973/mo rents. That profile suits long-term holders targeting consistent returns.
You know 94704 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 94704 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 94704 ranks in San Francisco-Oakland-Berkeley, CA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 94704 (Berkeley)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 94704 (Berkeley, CA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.