East Bay guide · Tier A · Rank #15 of 87
House hacking in Hayward (Downtown / North Hayward / Cherryland).
Lincoln Landing (474 units) delivered, a Downtown Specific Plan form-based code with capacity up to 3,427 units, and active BART TOD planning, at a favorable 1.30% tax rate.
What's actually happening in 94541
- Delivered
Lincoln Landing (474 units plus retail): delivered, leasing since 2022. BLDUP
- Adopted
Downtown Specific Plan form-based code with capacity up to 3,427 units. City of Hayward
- Active planning
Downtown Hayward BART TOD: three BART parcels in active planning, with public input running mid-2026. City of Hayward
- Operational / existing anchor
In-ZIP BART (Orange/Green) plus Capitol Corridor, with CSU East Bay rental demand. BART
The numbers
- Median price
- ~Hayward proxy (no ZIP median this run)
- Market rent
- Hayward $2,412/mo (Zumper)
- Property tax (Alameda County)
- ~1.30% effective (Hayward; among the most favorable in the metro)
- Per-bed rent band
- $850–1,200/mo per bed
- ADU rent band
- $1,900–2,400/mo
- Whole-home rent band
- 2bd $2,412 / 3bd $2,900 whole-home
- Underwriting vacancy
- 5% underwriting vacancy
- Appreciation scenarios
- 1.5 / 3.0 / 4.0 %/yr (conservative / base / upside)
The 1.30% tax rate is among the metro's most favorable. Appreciation basis: Delivered Lincoln Landing plus form-based capacity; the 1.30% tax aids the pencil. Rent bands are city-level medians; confirm the specific parcel before trusting any of them. Run your own scenario in the calculator.
Buildings we underwrote in 94541
13 buildings in 94541 carry a record. 0 beat renting and index funds; the rest did not. Every row links to its own page, with the numbers it was scored on.
| Property | At our defaults | Status |
|---|---|---|
| 188 Sunset Blvd 3 units · $1,125,000 | −$104,444 S&P 500 | Underwritten — the index wins at our defaults |
| 25325 Windfeldt Rd 2 units · $998,000 | −$423,250 S&P 500 | Underwritten — the index wins at our defaults |
| 391 Bartlett Ave 4 units · $1,600,000 | −$472,659 S&P 500 | Underwritten — the index wins at our defaults |
| 1245 Cotter Way 2 units · $875,000 | −$494,402 S&P 500 | Underwritten — the index wins at our defaults |
| 22792 Bayview Ave 2 units · $999,000 | −$501,921 S&P 500 | Underwritten — the index wins at our defaults |
| 1124 Rex Rd 2 units · $1,350,000 | −$545,938 S&P 500 | Underwritten — the index wins at our defaults |
| 21492 Montgomery Ave 2 units · $1,100,000 | −$704,906 S&P 500 | Underwritten — the index wins at our defaults |
| 24024 Park St 2 units · $1,250,000 | −$783,705 S&P 500 | Underwritten — the index wins at our defaults |
| 230 Flanders Ct 2 units · $1,549,000 | −$1,056,071 S&P 500 | Underwritten — the index wins at our defaults |
| 2039 D St 2 units · $1,380,000 | −$1,062,168 S&P 500 | Underwritten — the index wins at our defaults |
| 21585 Montgomery St 2 units · $1,349,888 | −$1,072,357 S&P 500 | Underwritten — the index wins at our defaults |
| 1251 Bellina St 2 units · $1,574,950 | −$1,261,533 S&P 500 | Underwritten — the index wins at our defaults |
| 20342 Concord Ave 2 units · $1,700,000 | −$1,661,233 S&P 500 | Underwritten — the index wins at our defaults |
The full board shows every region's current week; this table is every record we hold for 94541, newest basis first.
The house-hack angle
SFH-with-ADU and small multifamily near downtown BART; room rentals to CSU East Bay students and BART commuters. Hayward's 1.30% tax buys 40–60 bps of coverage vs Oakland or Berkeley.
What breaks it
- The BART-parcel TOD is still in planning: treat it as designation until capital shows up
- City-proxy rents: re-comp at the property level
- Metro insurance repricing lands H2 2026: get a bindable quote (flatland Hayward is manageable, but price it)