Issue #170August 23, 2026
Oakland Dimond Gut $52K In / 292% ROI + Eastmont TLC, Willow Glen Teardown, Richmond Pass
four live bay area flips. featured is 3148 california in oakland dimond: $399k list, $52k cash in, $800k arv, $175k gut, about 292% roi and $151k net on hunter 10% hard money. deerwood is the lighter eastmont rehab at 108% roi. minnesota is a willow glen lot, not a house, 48% over 12 months. harrison is a pass at list and is not recast on this stack.
Financing note
Fix and flips on this issue assume a 10% down hard money lender at 9.95% interest-only, 1-year term. Rehab is lender-funded. Cash in is 10% down plus 3% purchase costs. Interest is in the profit, not cash in. ROI is on cash in only. Sell costs are 4.5% of ARV. Harrison is a pass at list and is not recast on this stack.
FEATURED FLIPEASTMONT TLCWILLOW GLENRICHMOND PASS
FEATURED FLIP8.5/10
3148 California St, Oakland, CA 94602
rehab & flip · Dimond gut$399,000
UNDERWRITING
Cash In
$51,870
Total Profit
$151,459
ROI
292%
Annualized ROI
584%
List
$399,000
ARV
$800,000
Rehab Est.
$175,000 gut
Sell costs
$36,000 (4.5% of ARV)
Size
2BR / 1BA · 1,111 sq.ft. · 1925 · 3,300 lot
FINANCING
Down
$39,900
Purchase costs
$11,970
Loan
$534,100
IO 6 mo
$26,571
Hold
6 months
OPPORTUNITY
The listing is written for contractors. 2 bed, 1 bath, 1,111 sqft on a 3,300 sqft lot, built 1925. Nearby flat-Dimond resales run $665k to $950k. Do not use the Oakmore $1.2M to $1.5M sales as ARV. Conservative ARV is $800k. 10% down plus 3% purchase costs is $51,870 in. $175k gut is lender-funded. Loan is $534,100. Six months of 9.95% IO is $26,571. After 4.5% sell costs, net is $151,459. 292% ROI, 584% annualized.
RISK
1925 stock. Foundation, sewer, or knob-and-tube could push rehab past $225k and cut about $50k of profit. A bidding war kills this deal above $460k. At $460k: cash in $59.8k, net $86k, ROI 144%.
VERDICT
Best risk-adjusted Bay Area flip on this board. Write at or near list. Cap $460k.
EASTMONT TLC7.0/10
7415 Deerwood Ave, Oakland, CA 94605
rehab & flip · Eastmont TLC$419,000
UNDERWRITING
Cash In
$54,470
Total Profit
$58,986
ROI
108%
Annualized ROI
260%
List
$419,000
ARV
$650,000
Rehab Est.
$110,000 (~$89/sf TLC)
Sell costs
$29,250 (4.5% of ARV)
Holding Period
5 months
Size
2BR / 1.5BA · 1,238 sq.ft. · 3,956 lot
FINANCING
Down
$41,900
Purchase costs
$12,570
Loan
$487,100
IO 5 mo
$20,194
Hold
5 months
OPPORTUNITY
This is the clean 5-month in-and-out. 2 bed, 1.5 bath, 1,238 sqft on a 3,956 sqft lot. You are in at $338/sqft against renovated 1,100 to 1,250 sqft sales at $625k to $650k. The lot has stated ADU potential. ARV is $650k (3986 Delmont $650k, 2907 Seminary $625k). Do not use 9500 Golf Links $365k as ARV. 10% down plus 3% purchase costs is $54,470 in. $110k TLC is lender-funded. Loan is $487,100. Five months of 9.95% IO is $20,194. After 4.5% sell, net is $58,986. 108% ROI, 260% annualized.
RISK
Thin cushion. A $40k overrun or a $600k exit takes most of the $59k. 94605 comps range from $365k to $650k. Block quality is the whole deal. Walk above $445k (at $445k: cash $57.9k, net $31k, ROI 54%).
VERDICT
Buy at list. Walk above $445k.
WILLOW GLEN6.5/10
725 Minnesota Ave, San Jose, CA 95125
teardown / rebuild · Willow Glen lot$995,000
UNDERWRITING
Cash In
$129,350
Total Profit
$62,523
ROI
48.3%
List
$995,000
ARV
$1,750,000
Rebuild Est.
$450,000 (down-to-studs + add to ~1,900 sf)
Sell costs
$78,750 (4.5% of ARV)
Holding Period
12 months
Downside ARV
$1.65M at list · -$33k
Size
3BR / 1BA · 1,261 sq.ft. · 1940 · 5,980 lot
FINANCING
Down
$99,500
Purchase costs
$29,850
Loan
$1,345,500
IO 12 mo
$133,877
Hold
12 months
OPPORTUNITY
The listing says replace the house. 3 bed, 1 bath, 1,261 sqft on a 5,980 sqft lot, built 1940. Rebuild $450k is lender-funded. Cash in $129,350. Loan $1,345,500. Twelve months of 9.95% IO is $133,877. ARV $1.75M. After 4.5% sell, net $62,523. 48.3% ROI on a 12-month hold. At $900k: cash $117k, net $169k, ROI 144%. Biggest dollar profit on the list if you self-GC and buy under asking.
RISK
San Jose permits plus $450k of hard cost plus a year of IO on $1.35M. 48% over 12 months at list is not enough pay for that permit risk unless you self-GC or buy under asking. Downside ARV $1.65M at list: -$33k.
VERDICT
Offer $880k-$920k or pass unless you self-GC.
RICHMOND PASS5.5/10
520 Harrison Dr, Richmond, CA 94806
rehab & flip · pass at list$400,000
UNDERWRITING
Cash Needed
$493,000
Total Profit
-$1,000
ROI
-0.2%
List
$400,000
ARV
$535,000
Bid case ($340k)
~$60k profit · ~14% ROI
Est. Rent
~$2,809/mo if treated as BRRRR
As-is estimate
~$401,000
Size
3BR / 1BA · 1,022 sq.ft.
OPPORTUNITY
Brand-new listing with obvious deferred maintenance. 3 bed, 1 bath, 1,022 sqft. At $340k this is about $60k profit and 14% ROI. That is the bid case, not list. If the flip does not work, estimated rent is about $2,809/mo.
RISK
At list, cash-in is $493k against a $535k ARV. Net is about -$1k, ROI -0.2%. The as-is estimate is about $401k, basically the ask. 94806 exits swing from $380k to $565k.
VERDICT
Pass at list. Write $340k or treat as BRRRR.
Status Verification
Underwritten August 23, 2026 PT from live listing pages and same-zip sales in the last 90 days. Rehab numbers are assumptions, not contractor bids. Acora is not affiliated with the listings.
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