Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

For context, here's the home https://www.zillow.com/homedetails/943-34th-St-Oakland-CA-94...We bought it as our primary in 2014 for $590k and realized a nice run up in appreciation over the last decade, appraising most recently in 2022 for $1.2m. 

I should clarify a couple of things - the city is abandoning their current drain line as its undersized and installing larger pipe next to it so can't be a trenchless pipe but would have been nice. 

Equity and cash flow are equally important when deciding whether to pull money out.If you can put the equity to work by adding another property while still having a nice cushion on your cash flow, then I would say definitely yes.  

Sounds like you have a nice cash flowing property already and see a tremendous opportunity with a new property.

If the number are close[100k or less], do preemptive due diligence [water, sewer, stormwater, planning and zoning] if the property is considered for a new build development situation.

The problem I have seen with many unpermitted units or additions particularly in Altadena CA : is that what looks nice, well done and safe many times is not... 

My developer buddy in Denver told me 'Rubin Brown.'

You can connect with the local chamber of commerce and/or planning and development departments to find what is coming to the area that would create some appreciation.

Nice neighborhood just north of downtown Keene.