10476 Caminito Rimini
Atop 10%Rancho Peñasquitos, CA 92129
Pass at asking: -$1,664/mo full cashflow at 20% down, 7.43% rate.
Works at $198,356 (52% under asking), or at 78% down.
Rent $2,780/mo from 13 leases of 2-bed condos & townhomes within 1 mi ($2,657–$2,852).
Beds
2
Baths
1
Sqft
882
Year Built
1973
Days on Market
1
Property Type
Condo
HOA/mo
$617
MLS ID
260026664SD
This property is in Rancho Peñasquitos (92129). View neighborhood stats →
About This Property
VA, Fannie Mae & Freddie Mac Approved Complex for low down payment options! Discover an exceptional value along the I-15 corridor with this Southeast facing two-story townhome offering an opportunity to make it your own. The main level features a spacious living area, while both bedrooms are situated upstairs for added privacy. Additional features include a shared two car garage and assigned driveway parking. Enjoy community amenities, including a pool and several lush greenbelts, with HOA dues covering water, sewer, and trash. Conveniently located near Poway Unified Schools, parks, public transportation, freeway access, restaurants, nightlife, and shopping. With some TLC and your personal vision, this property offers an opportunity to unlock its potential. A great option for buyers looking to build equity and personalize a home to their taste. For investors, these units typically rent between $2500-$3000/month. Seller is doing a 1031 Tax Deferred Exchange and will consider all reasonable offers.
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Est. Monthly Payment
$3,459
Location
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Renovation math
Flagged Fixer from the listing remarks — “tlc”, “make it your own”.
- Asking now
- $415K
- Worth finished
- $521K
- Budget to renovate
- $105,590
$471/sqft
$590/sqft × 882 sqft
$120/sqft to spend
Comparable finished homes nearby suggest this is worth $521K once it's brought to par — about $105,590 above the asking price. That spread is your renovation budget before the deal stops working.
Rent once renovated
- Rent at par
- $2,816/mo
- Cashflow at that rent
- −$1,636/mo
$3.19/sqft × 882 sqft, median of 5 comps
cap rate 2.34%, DSCR 0.81
Buying at asking and achieving par rent, excluding the renovation spend itself. We don't publish a current-condition rent: no listing remark says how much work a home needs, and mid-renovation it earns nothing.
Based on 5 comparable homes of the same property type and size currently listed nearby — asking prices and modelled rents, not closed sales. A contractor's scope, not this page, decides what a renovation actually costs.
Comparable Properties
5 comps foundThis Property
$2,780
Comp Average
$2,858
10359 Azuaga
2bd / 2ba · 881 sqft · Condo
$450K
Est. $2,813/mo
10329 Azuaga Street
2bd / 2ba · 881 sqft · Condo
$528K
Est. $3,044/mo
10365 Azuaga Street
2bd / 2ba · 881 sqft · Condo
$495K
Est. $2,816/mo
10379 Azuaga St
2bd / 2ba · 881 sqft · Condo
$520K
Est. $2,808/mo
10379 Azuaga Street
2bd / 2ba · 881 sqft · Condo
$525K
Est. $2,808/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
13 leases of 2-bed condos & townhomes within 1 mi · $2,657–$2,852
Blended 50/50 with the zip's market median ($2,805)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$1,664/mo short at 20% down; 78% down or +$2,161/mo rent closes it.
- Break-even price
- $198,356
- Break-even rent
- $4,941/mo
- Cashflow at 35% down
- −$1,231/mo
- Down payment to break even
- 78%
- Rate to break even
- Not reachable
52% under asking
$2,161/mo above the estimate
$323,700 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.43% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.
Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.
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