11340 Portobelo #3
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11340 Portobelo #3

Ctop 80%

San Diego, CA 92124

$649,900
STR: check · no permits in this complex · TOT 12.75%

2 licensed short-term rentals within ½ mile (1 whole home), from the cities' license and permit lists of Nov 13, 2026.

No unit in this 24-unit complex holds a short-term rental license, so nothing shows its HOA allows them. Get the CC&Rs before counting on short-term income.

Pass at asking: -$3,104/mo full cashflow at 20% down, 7.36% rate.

Works at $243,822 (62% under asking), or at 90% down.

Rent $3,199/mo from 4 leases of 1–3 bed condos & townhomes in 92124 ($3,102–$3,354).

Beds

2

Baths

2

Sqft

1,226

Year Built

1992

Days on Market

97

Property Type

Townhouse

HOA/mo

$600

MLS ID

260019373SD

This property is in San Diego (92124). Browse neighborhood analytics →

Virtual Tour

About This Property

Welcome to this abundantly light and bright upper corner townhome in the highly desirable Belsera community of Tierrasanta. Perfectly situated in one of the quietest locations within the development, this spacious two-story residence offers peaceful, park-like views from every room, creating a serene setting that is rarely available.The thoughtfully designed floor plan features two bedrooms and two full bathrooms, highlighted by soaring 20-foot vaulted ceilings and a fireplace in the living and dining room that fill the home with natural light and provide an impressive sense of space. The open kitchen, with all stainless steel appliances, offers a cozy breakfast area, making it the perfect place to enjoy your morning coffee while overlooking the lush surroundings. Additional features include an attached one-car garage, generous living spaces, and an ideal layout for both everyday living and entertaining. Residents of Belsera enjoy an exceptional array of resort-style amenities, including a community pool and spa, recreation room, playground, sand volleyball court, beautifully maintained greenbelts, walking paths, and ample guest parking. Conveniently located in the heart of Tierrasanta, this home offers easy access to shopping, dining, hiking trails, Mission Trails Regional Park, major freeways, and everything San Diego has to offer. This is a rare opportunity to own a tranquil, light-filled home in one of Tierrasanta's most sought-after communities with award winning schools. Seller will also contribute to buydown of sellers rate

Mortgage Calculator

Est. Monthly Payment

$5,025

Principal & Interest$3,586
Property Tax$650
Insurance$190
HOA$600
%($129,980)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Kumeyaay Elementary · grades K-5 · San Diego Unified

  • Middle

    Farb Middle · grades 6-8 · San Diego Unified

    or De Portola Middle · grades 6-8 · San Diego Unified

    Choice area: the district lets families here pick either school.

  • High

    Canyon Hills High · grades 9-12 · San Diego Unified

The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.

Investment Score

31C
Est. Monthly Rent
$3,199

4 leases of 1–3 bed condos & townhomes in 92124 · $3,102–$3,354

Blended 50/50 with the zip's market median ($3,227)

Monthly Cashflow

Rent − PITIA

-$1,827
Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,104

What would make this work?

$3,104/mo short at 20% down; 90% down or +$4,031/mo rent closes it.

Break-even price

62% under asking

$243,822
Break-even rent

$4,031/mo above the estimate

$7,230/mo
Cashflow at 35% down
−$2,432/mo
Down payment to break even

$584,910 cash

90%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$3,586
Cap Rate
1.18%
Cash-on-Cash
-28.66%
DSCR

Need ≥ 1.25 for DSCR loan

0.64

NOI (Annual)
$7,700
Price-to-Rent

Lower = better for investors

16.9

* Modelled at 20% down, 7.36% 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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CCashflow−$3,104/mo