The property is real, occupied, and held outright by you for two decades. That ownership position is the foundation of everything below.
3770 Suter Street is a two-unit, four-bedroom / three-bath income property in Oakland's Allendale neighborhood, built in 1920 on a 3,990 sq. ft. lot with 2,079 sq. ft. of living area.P1 County deed records confirm your acquisition on September 30, 2005 for $306,000D1 — a 20-year hold through two full rate cycles. The structural profile independently cross-checks against public listing-record data for the same address.P1
Desktop valuation puts the property near $865K — up 2.8× from its 2005 basis.V1
A desktop AVM-derived estimate places current value around $865,400.V1 That is a comparable-sale-adjusted figure, not a certified appraisal — the kind of number that gets a conversation started, not a number a lender closes against. The gap between it and a formal appraisal is one of the two things that has to happen before this is a term sheet, not a pitch (see Beat 5).
Rates have moved. Your note hasn't. The 5-Year Treasury sits near 4.2% — your note is priced nearly ten points above it.
The 5-Year Treasury constant maturity yield was 4.21% as of early July 2026.T1 Small-balance multifamily paper in the East Bay is pricing in the 400–450 bps range over that benchmark today, which is where RCP's 8.50–8.75% indicative range sits.T1 A reported 14.25% note is not a market rate for a conventional 2-4 unit residential-income asset in this submarket under any current pricing model — it reads as either a distressed-era private note or a rate that has drifted uncorrected for years.E1
Refinancing doesn't just cut the payment. Two decades of equity is sitting there to be pulled out with it.
Two separate financial events are on the table here, structured as one transaction: (1) refinance the existing 14.25% note down toward RCP's 8.50–8.75% indicative range, and (2) size the new facility to extract cash out of twenty years of appreciation, since the $306,000 basis against an est. $865,400 value implies substantial untapped equity regardless of the current balance.E1
Existing payoff balance is not yet on file — your current mortgage statement is the one document that turns "new loan amount" into "cash to you at closing." Every dollar of new loan proceeds above that payoff, plus closing costs, is accessible equity. That is the core of this opportunity — the rate reduction alone is only half the story.
Not the property. Not the spread. Two documents stand between this analysis and a term sheet.
Strip away everything that doesn't touch the deal, and two verification items remain — both straightforward, both in your control.
Existing payoff unconfirmed
Reported 14.25% rate has no confirmed balance behind it — interest rate isn't a recorded field in county land records. Your current mortgage statement resolves this.
View note record →Desktop valuation, not appraisal
$865,400 is a comparable-adjusted estimate. A formal appraisal or BPO is the next document needed to convert this into a lender-ready file.
View valuation →Timing
No urgency is imposed by the asset itself — the rate gap and untapped equity persist regardless of when you choose to act. The math holds either way.
View rate context →Every number above traces to a source. Here they all are.
A 20-year hold, a ten-point rate gap, and equity that's never been touched. The opportunity is straightforward.
The case is simple enough to say in one sentence: your current note is priced roughly 575 basis points above where this exact property could refinance today, and twenty years of appreciation sits underneath it, untouched. Two items move this from analysis to term sheet.
Your current mortgage statement
Confirms existing balance and lender — converts the rate spread into an exact monthly savings figure and an exact cash-out number.
A formal appraisal or BPO
Converts the $865.4K desktop estimate into a lender-ready valuation, and sets the real ceiling on the cash-out sizing.
We welcome the opportunity to walk through the numbers directly whenever it's convenient for you.