House hacking in Dublin (Citywide (two BART stations)).

What's actually happening in 94568

• Operational

  Dublin/Pleasanton terminus and West Dublin: two in-ZIP BART stations. BART

• Planned, service ~2032: never underwrite it

  Valley Link terminus planned: Phase 1A ~$4.4B, $400M Measure BB committed, FTA FONSI Apr 2025, service target ~2032. Valley Link

• Adopted / in review / approved

  Downtown Dublin Specific Plan: up to 2,916 units, parking minimums eliminated Jan 2024; Dublin Commons (1,510 units) in review, SCS Dublin (500 units) approved June 2026. City of Dublin

• Existing anchors

  Suburban job base: Ross HQ, the ZEISS $180M campus, Camp Parks. City of Dublin

The numbers

Median price

~$1.39M (Dublin)

Market rent

2bd $2,900 / 3bd $3,400 whole-home (underwriting band)

Property tax (Alameda County)

~1.39% effective (Dublin)

Per-bed rent band

$1,100–1,450/mo per bed

ADU rent band

$2,200–2,800/mo

Whole-home rent band

2bd $2,900 / 3bd $3,400 whole-home

Underwriting vacancy

4% underwriting vacancy

Appreciation scenarios

1.0 / 2.5 / 4.0 %/yr (conservative / base / upside)

Dublin comps printed -2.4 to -7.9% YoY: negotiable. Appreciation basis: $1.39M basis, SFH-ADU only; Valley Link counted as upside only. Rent bands are city-level medians; confirm the specific parcel before trusting any of them. Run your own scenario in the calculator.

The house-hack angle

SFH-with-ADU only at this basis; newer stock keeps capex low. Treat Valley Link as narrative until capital flows: the service target is ~2032.

What breaks it

• The $1.39M basis limits the avatar to SFH-ADU
• Valley Link is still-conceptual for underwriting purposes (service ~2032)
• Negative comps (-2.4 to -7.9% YoY): don't underwrite appreciation