# House Hacking in San Francisco (94112): The cleanest transit-oriented affordability play in the city · The Rent Hacker > San Francisco 94112 for house hackers: The metro's cleanest transit-oriented affordability play: a large in-ZIP master build at a top-tier BART station, sitti Canonical: https://therenthacker.com/house-hacking/sf-excelsior-94112/ Source: The Rent Hacker (https://therenthacker.com/). License: RSL, attribution required — https://therenthacker.com/license.xml --- [San Francisco guide](/house-hacking/san-francisco/) · 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](https://balboareservoir.com/the-project/) - 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](https://sfplanning.org/project/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](https://sfplanning.org/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](/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](/property/rh-xol9x5/217-holloway-ave/) 3 units · $1,199,900 +$735,264 House-Hack Published pick #1 [358 London St](/property/rh-8nc4wu/358-london-st/) 2 units · $999,000 +$66,937 House-Hack Underwritten — beats renting and index funds, below the publish cut [25 Farallones St](/property/rh-s1su09/25-farallones-st/) 2 units · $795,000 +$55,229 House-Hack Underwritten — beats renting and index funds, below the publish cut [89 Farallones St](/property/rh-akfi9j/89-farallones-st/) 2 units · $799,000 −$6,808 S&P 500 Underwritten — the index wins at our defaults [232 Sagamore St](/property/rh-voki37/232-sagamore-st/) 2 units · $899,000 −$67,047 S&P 500 Underwritten — the index wins at our defaults [967 Avalon Ave](/property/rh-8iw1md/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](/property/rh-njynov/5301-mission-st-apt-1/) 1 unit · $749,999 −$100,507 S&P 500 Underwritten — the index wins at our defaults [306 Ashton Ave](/property/rh-kpn83f/306-ashton-ave/) 2 units · $998,888 −$120,001 S&P 500 Underwritten — the index wins at our defaults [277 Lisbon St](/property/rh-to9j0z/277-lisbon-st/) 2 units · $988,888 −$146,892 S&P 500 Underwritten — the index wins at our defaults [737 London St](/property/rh-xw4b7k/737-london-st/) 2 units · $1,200,000 −$277,609 S&P 500 Underwritten — the index wins at our defaults [286 Sagamore St](/property/rh-x27x46/286-sagamore-st/) 2 units · $1,300,000 −$286,962 S&P 500 Underwritten — the index wins at our defaults [149 London St](/property/rh-hij0nh/149-london-st/) 2 units · $1,090,000 −$291,614 S&P 500 Underwritten — the index wins at our defaults [25 Colonial Way](/property/rh-lbrjc6/25-colonial-way/) 2 units · $1,098,888 −$268,495 S&P 500 Underwritten — the index wins at our defaults [275 Miramar Ave](/property/rh-439ol0/275-miramar-ave/) 2 units · $1,100,000 −$303,371 S&P 500 Underwritten — the index wins at our defaults [169 Whipple Ave](/property/rh-axcfkw/169-whipple-ave/) 2 units · $1,250,000 −$305,475 S&P 500 Underwritten — the index wins at our defaults [844 Brunswick St](/property/rh-6fenvx/844-brunswick-st/) 2 units · $1,300,000 −$232,631 S&P 500 Underwritten — the index wins at our defaults [177 Edinburgh St](/property/rh-2lygki/177-edinburgh-st/) 1 unit · $950,000 −$322,359 S&P 500 Underwritten — the index wins at our defaults [5810 Mission St, Apt 404](/property/rh-rzhdis/5810-mission-st-apt-404/) 1 unit · $675,000 −$353,931 S&P 500 Underwritten — the index wins at our defaults [132 Lapham Way](/property/rh-pjjz7t/132-lapham-way/) 1 unit · $995,000 −$375,267 S&P 500 Underwritten — the index wins at our defaults [1862 San Jose Ave](/property/rh-oa83ok/1862-san-jose-ave/) 1 unit · $998,000 −$378,795 S&P 500 Underwritten — the index wins at our defaults [142 Montana St](/property/rh-anu494/142-montana-st/) 1 unit · $1,000,000 −$381,146 S&P 500 Underwritten — the index wins at our defaults [615 Mt Vernon Ave](/property/rh-vf8lzz/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](/property/rh-12a0bs/615-mount-vernon-ave/) 2 units · $1,225,000 −$413,378 S&P 500 Underwritten — the index wins at our defaults [119 Trumbull St](/property/rh-tzz4di/119-trumbull-st/) 2 units · $1,400,000 −$450,916 S&P 500 Underwritten — the index wins at our defaults [70 Onondaga Ave](/property/rh-f1t9il/70-onondaga-ave/) 3 units · $1,320,000 −$451,546 S&P 500 Underwritten — the index wins at our defaults [4971 4973 Mission St](/property/rh-mvwltt/4971-4973-mission-st/) 1 unit · $1,095,000 −$492,842 S&P 500 Underwritten — the index wins at our defaults [35 Admiral Ave](/property/rh-o1b8q0/35-admiral-ave/) 2 units · $1,298,888 −$506,292 S&P 500 Underwritten — the index wins at our defaults [688 Morse St](/property/rh-0q4bxh/688-morse-st/) 2 units · $1,499,000 −$567,315 S&P 500 Underwritten — the index wins at our defaults [142 Josiah Ave](/property/rh-x9g45b/142-josiah-ave/) 2 units · $1,398,000 −$589,252 S&P 500 Underwritten — the index wins at our defaults [518 Athens St](/property/rh-fvdswc/518-athens-st/) 2 units · $1,388,888 −$612,110 S&P 500 Underwritten — the index wins at our defaults [140 Naglee Ave](/property/rh-iqxifn/140-naglee-ave/) 1 unit · $1,198,000 −$613,942 S&P 500 Underwritten — the index wins at our defaults [923 Edinburgh St](/property/rh-xzbnq8/923-edinburgh-st/) 2 units · $1,680,000 −$633,032 S&P 500 Underwritten — the index wins at our defaults [737 Huron Ave](/property/rh-pw8tu5/737-huron-ave/) 2 units · $1,795,000 −$648,317 S&P 500 Underwritten — the index wins at our defaults [5680 Mission St](/property/rh-eqkv4w/5680-mission-st/) 2 units · $2,100,000 −$692,305 S&P 500 Underwritten — the index wins at our defaults [131 Russia Ave](/property/rh-w55snr/131-russia-ave/) 2 units · $1,595,000 −$758,059 S&P 500 Underwritten — the index wins at our defaults [646-648 Madrid St](/property/rh-uv3jr4/646-648-madrid-st/) 2 units · $1,150,000 −$836,271 S&P 500 Underwritten — the index wins at our defaults [5249-5253 Mission St](/property/rh-g8xaxa/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](/property/rh-nfd272/10-westwood-dr/) 2 units · $2,598,888 −$1,745,622 S&P 500 Underwritten — the index wins at our defaults [4440 Mission St](/property/rh-tb7j4v/4440-mission-st/) 2 units · $2,880,000 −$2,251,727 S&P 500 Underwritten — the index wins at our defaults The full [board](/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 This page is the standing analysis. The weekly part, actual San Francisco-area listings that pass the math, lands on the San Francisco board every Tuesday. [This week's San Francisco board](/board/sf-proper/) Have a specific address? [Look up any San Francisco building](/lookup/) — free parcel facts, and Underwrite an address — $79 for the full one. Want this analysis for a specific building? Any San Francisco address, underwritten the same way: cautious rents, the registry, the S&P line. [Look up any San Francisco address →](/lookup/) A full report for an address you pick: Underwrite an address — $79, delivered within one business day. [This week's San Francisco board](/board/sf-proper/) · [Read past San Francisco issues](/issues/sf-proper/) · [Every pick, on the record](/track-record/) · [How a deal becomes a pick](/methodology/) Data synthesized 2026-07-06, catalysts re-verified 2026-07-14. Mortgage-rate basis: 6.43% (Freddie Mac PMMS, a seven-week low; 6.67% a year ago). Sources are the public planning documents and market listings named above, fetched on the synthesis date. Nothing here is investment advice; every deal needs a bindable insurance quote and parcel-level verification.