San Francisco guide · Tier A · Rank #3 of 27
House hacking in San Francisco (Excelsior / Outer Mission / Ingleside).
The metro's cleanest transit-oriented affordability play: a large in-ZIP master build at a top-tier BART station, sitting on house-hack-friendly RH stock at a below-median entry price.
Status check: Verified 2026-07-14: Balboa Reservoir Phase 1A construction has been underway since Nov 2025, with Building A on for summer 2026. The synthesis-date WARN on those dates is resolved.
What's actually happening in 94112
- Phase 1A under construction
Balboa Reservoir: 1,100 units (550 BMR) adjacent to Balboa Park BART and City College; Building A (159 affordable units, up to 150 reserved for educators) starts construction summer 2026 for spring 2028 completion; Phase 1A infrastructure started Nov 2025 (dates WARN at synthesis). Balboa Reservoir project overview
- Operational
Balboa Park BART/Muni: 24,000+ daily boardings with three Muni Metro lines (J/K/M), one of the highest-ridership stations outside downtown. SF Planning Balboa Park Station Area Plan
- Adopted
Balboa Park Station Area Plan (Ordinances 59-09 and 61-09, May 2009) created the Ocean Ave NCD, the one confirmed in-ZIP zoning action; the Excelsior & Outer Mission Neighborhood Strategy adds planning attention on the Mission St corridor. SF Planning Excelsior & Outer Mission Neighborhood Strategy
The numbers
- Median price
- $1,182,000 (Redfin/ATTOM, May 2026)
- Market rent
- ~$3,800/mo neighborhood median; 1-beds under $2,500 (RentCafe)
- Property tax (San Francisco County)
- 1.183% combined effective (SF Treasurer FY2025-26, consolidated city and county); new buyers pay about 1.183% of purchase price in year one, then assessed value rises at the 2%/yr Prop 13 cap until resale
- Per-bed rent band
- $1,200–1,700/mo per room
- ADU rent band
- $2,400–3,000/mo (ADU or in-law)
- Whole-home rent band
- $4,500–5,800/mo whole-home
- Underwriting vacancy
- 3.5–4.0% underwriting vacancy
- Appreciation scenarios
- 3 / 4–5 / 6 %/yr (conservative / base / upside)
More negotiable than the core. Appreciation basis: Balboa Reservoir delivering Building A in 2028 is the base; upside if the fourplex path and the Mission St FZP corridor confirm. 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 94112
39 buildings in 94112 carry a record. 3 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 |
|---|---|---|
| 217 Holloway Ave 3 units · $1,199,900 | +$735,264 House-Hack | Published pick #1 |
| 358 London St 2 units · $999,000 | +$66,937 House-Hack | Underwritten — beats renting and index funds, below the publish cut |
| 25 Farallones St 2 units · $795,000 | +$55,229 House-Hack | Underwritten — beats renting and index funds, below the publish cut |
| 89 Farallones St 2 units · $799,000 | −$6,808 S&P 500 | Underwritten — the index wins at our defaults |
| 232 Sagamore St 2 units · $899,000 | −$67,047 S&P 500 | Underwritten — the index wins at our defaults |
| 967 Avalon Ave 2 units · $1,100,000 | −$98,194 S&P 500 | Underwritten — the index wins at our defaults |
| 5301 Mission St, Apt 1 1 unit · $749,999 | −$100,507 S&P 500 | Underwritten — the index wins at our defaults |
| 306 Ashton Ave 2 units · $998,888 | −$120,001 S&P 500 | Underwritten — the index wins at our defaults |
| 277 Lisbon St 2 units · $988,888 | −$146,892 S&P 500 | Underwritten — the index wins at our defaults |
| 737 London St 2 units · $1,200,000 | −$277,609 S&P 500 | Underwritten — the index wins at our defaults |
| 286 Sagamore St 2 units · $1,300,000 | −$286,962 S&P 500 | Underwritten — the index wins at our defaults |
| 149 London St 2 units · $1,090,000 | −$291,614 S&P 500 | Underwritten — the index wins at our defaults |
| 25 Colonial Way 2 units · $1,098,888 | −$268,495 S&P 500 | Underwritten — the index wins at our defaults |
| 275 Miramar Ave 2 units · $1,100,000 | −$303,371 S&P 500 | Underwritten — the index wins at our defaults |
| 169 Whipple Ave 2 units · $1,250,000 | −$305,475 S&P 500 | Underwritten — the index wins at our defaults |
| 844 Brunswick St 2 units · $1,300,000 | −$232,631 S&P 500 | Underwritten — the index wins at our defaults |
| 177 Edinburgh St 1 unit · $950,000 | −$322,359 S&P 500 | Underwritten — the index wins at our defaults |
| 5810 Mission St, Apt 404 1 unit · $675,000 | −$353,931 S&P 500 | Underwritten — the index wins at our defaults |
| 132 Lapham Way 1 unit · $995,000 | −$375,267 S&P 500 | Underwritten — the index wins at our defaults |
| 1862 San Jose Ave 1 unit · $998,000 | −$378,795 S&P 500 | Underwritten — the index wins at our defaults |
| 142 Montana St 1 unit · $1,000,000 | −$381,146 S&P 500 | Underwritten — the index wins at our defaults |
| 615 Mt Vernon Ave 2 units · $1,225,000 | −$413,378 S&P 500 | Underwritten — the index wins at our defaults |
| 615 Mount Vernon Ave 2 units · $1,225,000 | −$413,378 S&P 500 | Underwritten — the index wins at our defaults |
| 119 Trumbull St 2 units · $1,400,000 | −$450,916 S&P 500 | Underwritten — the index wins at our defaults |
| 70 Onondaga Ave 3 units · $1,320,000 | −$451,546 S&P 500 | Underwritten — the index wins at our defaults |
| 4971 4973 Mission St 1 unit · $1,095,000 | −$492,842 S&P 500 | Underwritten — the index wins at our defaults |
| 35 Admiral Ave 2 units · $1,298,888 | −$506,292 S&P 500 | Underwritten — the index wins at our defaults |
| 688 Morse St 2 units · $1,499,000 | −$567,315 S&P 500 | Underwritten — the index wins at our defaults |
| 142 Josiah Ave 2 units · $1,398,000 | −$589,252 S&P 500 | Underwritten — the index wins at our defaults |
| 518 Athens St 2 units · $1,388,888 | −$612,110 S&P 500 | Underwritten — the index wins at our defaults |
| 140 Naglee Ave 1 unit · $1,198,000 | −$613,942 S&P 500 | Underwritten — the index wins at our defaults |
| 923 Edinburgh St 2 units · $1,680,000 | −$633,032 S&P 500 | Underwritten — the index wins at our defaults |
| 737 Huron Ave 2 units · $1,795,000 | −$648,317 S&P 500 | Underwritten — the index wins at our defaults |
| 5680 Mission St 2 units · $2,100,000 | −$692,305 S&P 500 | Underwritten — the index wins at our defaults |
| 131 Russia Ave 2 units · $1,595,000 | −$758,059 S&P 500 | Underwritten — the index wins at our defaults |
| 646-648 Madrid St 2 units · $1,150,000 | −$836,271 S&P 500 | Underwritten — the index wins at our defaults |
| 5249-5253 Mission St 2 units · $1,875,000 | −$1,453,307 S&P 500 | Underwritten — the index wins at our defaults |
| 10 Westwood Dr 2 units · $2,598,888 | −$1,745,622 S&P 500 | Underwritten — the index wins at our defaults |
| 4440 Mission St 2 units · $2,880,000 | −$2,251,727 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 94112, newest basis first.
The house-hack angle
RH-1 and RH-2 stock reachable by the citywide fourplex exception (up to 4 units, 6 on corners); classic Excelsior single-family-with-in-law and 2-unit buildings; a City College, downtown-commuter, and local service-workforce tenant base.
What breaks it
- FZP reach into the Mission St and Geneva Ave corridors is unconfirmed (WARN): do not underwrite the upzone
- Older stock carries foundation and soft-story exposure
- Unpermitted in-laws are common here: verify the legalization path before crediting that rent