Property overview
203 Bissell Ave, Richmond, CA 94801
Beats renting and index funds on our cautious numbers, with enough room to absorb a normal rent shortfall. This one passed our bar.
Iron Triangle, Richmond · SSA Frank Hagel Federal Building 0.9 mi
Analysis of 2026-09-02 · page updated 2026-10-09
The underwrite
What the $79 underwrite contains
Your underwrite contains the full underwriting
The facts below are public, and so is every source behind them. What a buyer pays for is the answer and the working behind it.
Everything below is public. Your underwrite holds the answer and the working behind it: open it above.
- Our answer at cautious, expected and best-case rents, side by side.
- Every rent we used, and the registry cells it came from.
- Tax reset arithmetic at this ask, with each parcel charge named.
- How far rents can fall before the answer turns over.
- What would change the answer.
- What to demand in writing before you sign.
Delivered within one business day. Every Bay Area 2–4 unit that beats renting and index funds, the week it lists.
Every Bay Area 2–4 unit that beats renting and index funds, the week it lists.
Members: open the full underwrite
This building stood on a board, so the pass opens its underwrite. Sign in and this page hands you the whole thing.
Verification
What we verified
| Fact | Status | Source |
|---|---|---|
| 4 units | corroborated | the public listing states it three ways (the unit chip, the Quadruplex subtype, and its prose naming one 4-bedroom/2-bath, two 4-bedroom/1-bath and one co-living unit); no county building record was read for this parcel, so the count rests on the listing alone |
| 12 bedrooms, 6 baths, 3,932 sqft, built 1908 | corroborated | our listing feed and the live listing agree on all four. Three 4-bedroom units account for the twelve bedrooms and four of the six baths, which leaves the co-living unit with two baths and no bedroom of record |
| Ask $999,000 | verified | our 2026-09-02 listing-feed pull and the live listing read the same day carry the identical figure; the listing's own prose still opens with an offer at $1,150,000, the price it carried before the May cut |
| FY 2025-26 tax bill $18,837.58, both installments paid | verified | Contra Costa County Treasurer-Tax Collector secured-tax portal, bill 2025-356648, parcel 538-190-021-5, read 2026-09-02; the fourteen ad valorem lines sum to one cent above the county's stated total, a per-line rounding artifact the county's own bill carries, kept as printed |
| A tax figure of $21,235 on the listing overstates the county bill by $2,397 | verified | the county bill totals $18,837.58 and the listing's own tax history shows $18,838 paid for 2025; only the listing's annual-tax field carries the larger number. The weekly board had floored this building's tax rate on that field; the measured bill lowers it |
| Assessed $981,652 for 2025 and $1,001,284 for 2026 | verified | Contra Costa's bill carries $334,654 of land and $646,998 of improvements for 2025, and the listing's tax history shows the same figure with the 2% step to 2026 |
Show the other 5 checks
| Fact | Status | Source |
|---|---|---|
| 50% occupied; two units tenanted month to month, two vacant | stated | the public listing's prose ("currently 50% occupied") and its month-to-month lease-term field; it does not say which two units are tenanted, and no lease or rent roll was in evidence |
| In-place rents about 13% below market | stated | an estimate in the listing prose, with no rent stated for either tenancy |
| Separately metered gas and electric, master-metered water, coin-operated laundry | stated | prose and the laundry field on the public listing |
| Listed November 2025 at $1,199,000, raised to $1,223,888 in January, withdrawn in March, relisted April 30 at $1,150,000, cut to $999,000 on May 21; 125 days on market this episode | verified | price history on the public listing, read 2026-09-02 |
| 21 listing photos analyzed, no flags raised, gallery read by eye | verified | photo analysis pass on 2026-09-02 with the gallery reviewed by eye the same day; fifteen interior frames show two freshly renovated, empty units, and no frame shows the two occupied units, a furnace, a water heater or a meter bank |
8 facts checked against a named source. 3 we could not settle. 10 open questions, written out in the underwrite.
Assessor
What the roll says
- Assessed value
- $981,652
- Tax rate area
- 08133
- Rate used
- 1.91%
- Tax bill at this ask
- $14,229/yr
- With parcel charges
- $19,085/yr
A bill on the roll belongs to the seller. A sale resets the assessment, so the figure above is what a buyer at this ask would owe.
Community facilities district: none: the bill carries no Mello-Roos line; its only non-ad-valorem items are the eleven direct charges below, led by the city's sewer service charge
Standing
Where this sat
On the East Bay board on August 26, 2026, September 2, 2026, September 9, 2026. It ranked #8 that week.