Fourplex underwriting checklist
A practical list of income, expenses, reserves, and stress tests before you chase a return number.
Learn · plan · ask better questions
Insights for investors, owners, and renters.
Short original articles—not market hype. Each piece separates verified facts from estimates and open questions.
Hold vs sell decision worksheet
A neutral worksheet to compare selling now, preparing first, or continuing to hold and operate.
Renter application FAQ
What happens after you inquire about a Vallejo vacancy, and which terms are still being confirmed.
A fourplex underwriting checklist for real people
Small multifamily deals live or die on a few inputs. One vacancy, one insurance jump, or one deferred roof can change the monthly picture. Use this checklist to organize questions—not to invent a return.
- Unit mix & leases — Beds/baths per unit, current rents, lease end dates, and which units are vacant.
- Utilities — Who pays water, sewer, trash, gas, electric, and common-area power?
- Taxes & insurance — Current annual amounts and whether a reassessment or policy change is likely after purchase.
- Maintenance history — Recent repairs, recurring issues, and vendors the seller used.
- Deferred CapEx — Roof, plumbing stacks, electrical panels, HVAC, windows, parking surface, and exterior paint.
- Permits — Confirm legal unit count and any unpermitted work before you model income.
- Reserves — Set a monthly reserve that survives a slow month and a mid-size repair.
- Financing sensitivity — Rate, term, balloon, and what happens if insurance or taxes rise 20%.
Three stress tests: (1) one extra month of vacancy per year, (2) repairs 25% higher than the base case, (3) insurance or tax increase. If the deal only works in the optimistic case, pause.
Label every number as Verified, Estimate, or To be confirmed. Cashflow RE’s Avian Drive assets are operated properties, not offerings for sale—see the investor snapshot.
Hold vs sell decision worksheet
This worksheet does not tell you what to do. It helps you put the same facts in one place so a conversation with advisors is clearer. It is not tax, legal, or financial advice.
- Your goal window — Need liquidity soon, within a year, or not sure?
- Property condition — List safety items, functional repairs, and cosmetic wants separately.
- Income (if rented) — Current rent, vacancy risk, and expense load you actually pay.
- Debt & carrying costs — Payment, taxes, insurance, HOA if any—without guessing a sale price.
- Sale path costs — Preparation, commissions/fees if you list, concessions, and time to close—as ranges until quoted.
- Hold path costs — CapEx you would fund in the next 1–3 years if you keep the property.
- Personal factors — Time to manage, relocation, estate planning—facts only, no peer pressure.
Remember: A value range from a conversation or online tool is a starting point, not an appraisal. For Alamo, Danville, or Walnut Creek owners, start with a seller consultation.
Renter application FAQ
347 and 361 Avian Drive share an approximately 890 sq ft, 2-bedroom / 2-bath townhouse-style layout. Property years differ (1978 and 1984). Asking rent, deposits, utilities, and HCV acceptance remain To be confirmed.
How do I start?
Send a renter inquiry with timing and household size, or use the form on each vacancy page. An inquiry is not a completed rental application.
What is the intended application sequence?
Apply for the specific unit with the online application (no SSN or bank details). Applications are reviewed in order received using the same written criteria; if you’re selected, we send a secure screening link and schedule a showing.
Is asking rent posted?
Not yet. It will appear only after ownership confirms it. Third-party rent estimates on listing sites are market context only—not the asking rent.
Are Housing Choice Vouchers accepted?
Status is pending confirmation. Mention HCV in your inquiry so ownership can respond with the current policy for that unit.
Pets, parking, and utilities?
Pet policy, which utilities you pay, deposits/fees, and some amenities are still being confirmed. Typical building features listed on vacancy pages are not guaranteed until owner-confirmed for the available unit.
Who handles owner-level escalations?
Diana is the ownership contact for matters needing owner-level escalation. Text 510-220-1726 (preferred) or email cashflowre2@gmail.com.
We welcome applicants equally and do not use school, safety, or demographic steering language. Reasonable accommodation requests can be noted in your inquiry.