Property overview

277 Lisbon St, San Francisco, CA 94112

At our cautious numbers, renting and putting the same money in index funds comes out ahead. It did not pass our bar.

Excelsior · Balboa Park BART / Muni Metro 0.86 mi

Analysis of 2026-09-22 · page updated 2026-10-09

Ask $988,888 Beds / baths 6 / 4 Listed sqft 1,943 Units 2 Days on market 18 as of 2026-10-09 HOA $0 APN 6017026

The underwrite

What the $79 underwrite contains

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.

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.

Underwrite this building — $79 Take the pass — $49/mo

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Verification

What we verified

Fact	Status	Source
Asking $988,888, listed 21 September 2026	corroborated	The verified listing record and our listing feed carry the same price. It went live the day before we read it, marked Offer As Is.
Two homes: an upper two-bedroom, two-bath flat with a livable attic, and a lower two-bedroom, one-bath flat with a one-car garage	corroborated	The description names both: "one 2-bedroom, 2-bathroom unit" with "a livable attic space", and a second unit with "a 2-bedroom, 1-bathroom layout with a one-car garage". The county assessment roll classes the parcel as flats with two units, and the city's address register carries two street addresses on it, 277 and 279 Lisbon St. Every building permit on file for the parcel since 2003 records two existing units.
Six bedrooms and four baths on the public listing; the description adds to four and three	diverges	The listing's summary fields say six bedrooms and four baths. The description's two flats add to four bedrooms and three baths, and the assessment roll records two baths. We priced the flats as the description states them, two bedrooms each, because that is the only source that says what each flat holds. The attic may be where the extra rooms are counted; nobody states it.
1,943 square feet on the listing, 1,652 on the assessment roll	diverges	Listing and feed disagree, and the county roll sides with the feed at 1,652. The listing's larger figure likely takes in the attic. No source gives either flat's own area.
Built 1908	corroborated	All three sources agree on 1908: the listing, our listing feed and the assessment roll.
The lower flat is stripped to the studs and subfloor, bathroom included	observed	The listing's own photographs, read frame by frame on 2026-09-22: four rooms of the lower flat open to the framing (frames 23 to 26) and its bathroom gutted with the rough plumbing exposed (frame 28). In the seller's own words, "One of the units needs remodeling".
The 2025-26 tax bill is $1,191.06	verified	Secured bill 20250414869 for this parcel, FY 2025-26: $1,058.56 of ad valorem tax at 1.18268325% plus $132.50 of fixed charges, paid in full. The lines sum to the cent.

4 facts checked against a named source. 3 we could not settle. 6 open questions, written out in the underwrite.

Assessor

What the roll says

Assessed value: $96,510
Rate used: 1.196%
Tax bill at this ask: $11,828/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.

Standing

Where this sat

On the San Francisco board on September 22, 2026.