Property overview
559-561 Minna St, San Francisco, CA 94103
Beats renting and index funds on our cautious numbers, but by too little to survive an ordinary rent shortfall. It passed the math, not our bar.
Analysis of 2026-09-01 · 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 |
|---|---|---|
| Asking price $1,898,000, day 187 on market | verified | our 2026-08-31 listing-feed pull and our verified listing records agree on the figure; two contingent deals fell through (April 26, May 23) before the June 9 relist cut 4.1% to today's ask |
| 4 legal units, all 2bd/2ba by the listing's own description | corroborated | our verified listing records, the assessor's roll and the listing subtype agree on four; the listing's prose states every unit is a 2-bedroom, 2-full-bath layout |
| 3,038 sqft, listing and assessor roll agree to the digit | records | SF assessor secured roll FY 2025-26 |
| Built 1911; fully under the SF Rent Ordinance | records | assessor's roll; SF Rent Ordinance coverage rules |
| One unit tenant-occupied at $3,700/mo in-place; three delivered vacant | verified | verified by hand against the live public listing, 2026-08-18 (MLS 426107094); the listing markets the vacant units as leasable at market from day one |
| Assessed $1,830,581 (land $1,189,878 / improvements $640,703), TRA 1008, sale recorded 2022-01-14 | records | SF assessor secured roll FY 2025-26 |
Show the other 11 checks
| Fact | Status | Source |
|---|---|---|
| FY 2025-26 secured bill measured: $24,011.38 = $21,649.92 ad valorem (1.18268325% on $1,830,581) + $2,361.46 direct charges (SoMa West CBD $968.74, apartment license fee $542.00, school and college parcel taxes $838.72, bay restoration $12.00); paid in full | verified | SF Treasurer secured-tax portal, account 3726-091, bill #20250373505 |
| No Mello-Roos / CFD special-tax district on APN 3726091 | records | FY 2025-26 CFD parcel lists, confirmed against the actual bill |
| Roll says 8 baths; listing prose claims 9 (garden level) | diverges | roll vs listing text: count 8; the 9th is uncertified |
| Garden-level '5th unit' is an unfinished shell | verified | listing photos 20-22 (photo review 2026-08-18) |
| ADU plans 'previously approved by the city' (listing claim, per owner) | diverges | city records contradict it on both sides: the 2017 add-unit building permit was cancelled (2022) and the Planning application for the same conversion closed 2/8/2018 with nothing approved |
| One 'add unit @ 1st floor' building permit (201708164959, filed 2017-08-16 under both street addresses): CANCELLED 2022-08-04, seven months after the current owner's purchase; no unit addition ever approved or issued | records | DBI building-permit census, block 3726 lot 091, cross-checked against the city's parcel file 2026-08-30 |
| Garden level's only completed legalization is as a STORAGE room (2012 permit, complete) | records | DBI building-permit census, block 3726 lot 091 |
| Two instruments recorded against title under the dead 2017 project: a Notice of Special Restrictions and a Costa-Hawkins agreement; a garden unit legalized on that path would be rent-controlled by recorded contract | records | the city's parcel file, notices tab (records under application 2017-011365PRJ: NSR recorded, Costa-Hawkins agreement recorded) |
| Historic resource status B ('Unknown / Age Eligible'): never formally evaluated; the 2011 SoMa survey rated it 7R with 'Retention of Historic Architecture: High' | records | the city's parcel file, historic-preservation tab; South of Market Historic Resource Survey (2011) |
| Zoned RED (Residential Enclave), 45-X height/bulk; in a state-mapped liquefaction zone, an Article 38 air-pollutant zone, and Archaeological Sensitivity Zone 2; each a permit-cost fact for garden-level work, none a bar to owning | records | the city's parcel file, zoning and environmental tabs |
| 11 DBI complaints 1999-2012, none in the 14 years since: nine routine or annual apartment-house inspections, a 2001 roof-and-fire-escape complaint (abated 2013), and a 2008 complaint of a possible illegal fifth unit in the garage (abated 2008-08-04) | records | DataSF DBI complaints census, block 3726 lot 091, pulled 2026-08-30 |
15 facts checked against a named source. 2 we could not settle. 5 open questions, written out in the underwrite.
Assessor
What the roll says
- Assessed value
- $1,830,581
- Tax rate area
- 1008
- Rate used
- 1.307%
- Tax bill at this ask
- $22,447/yr
- With parcel charges
- $24,808/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: APN 3726091 appears on no FY 2025-26 Mello-Roos or CFD parcel list; confirmed against the actual bill, whose only non-ad-valorem lines are the direct charges below
Standing
Where this sat
On the San Francisco board on August 18, 2026, September 1, 2026. It ranked #2 that week.