12132 Royal Birkdale Row #104E
Ctop 80%Rancho Bernardo, CA 92128Neighborhood: Rancho Bernardo
0 licensed short-term rentals within ½ mile (0 whole home), from the cities' license and permit lists of Nov 1, 2026.
No unit in this 42-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.
The listing remarks say short-term rentals are allowed: “Currently operating as a successful VRBO (~$3,000/month), offering great opportunity for primary residence, second home, or income-producing investment.” That's the agent's claim, not the city’s rule.
Pass at asking: -$2,657/mo full cashflow at 20% down, 7.49% rate.
Works at $135,429 (72% under asking), or at all cash.
Rent $2,761/mo from 13 leases of studio–2 bed condos & townhomes within 1 mi, same school area ($2,694–$2,950).
Beds
1
Baths
1.5
Sqft
906
Year Built
1987
Days on Market
141
Property Type
Condo
HOA/mo
$1,081
MLS ID
260014453SD
This property is in Rancho Bernardo (92128). View neighborhood stats →
About This Property
Resort-Style Living with Spectacular Golf Course Views! This updated ground-floor 1bd, 1.5ba condo offers an open, light-filled layout with a cozy fireplace, spacious primary suite & large private patio overlooking tranquil golf course setting—perfect for morning coffee or unwinding at the end of the day. Additional features include in-unit laundry, central A/C, and an assigned garage space. HOA dues include water, gas, internet, cable, trash, exterior maintenance, three community pools, plus exclusive access to the Bernardo Heights Community Center featuring tennis courts, a fitness center, clubhouse, and outstanding recreational amenities. You'll feel like you live at a resort! Currently operating as a successful VRBO (~$3,000/month), offering great opportunity for primary residence, second home, or income-producing investment. Located near top-rated schools, shopping, dining, parks, and freeway access, this move-in-ready home offers the perfect blend of comfort, convenience, and carefree resort-style living. Buyer to verify all MLS info.
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Est. Monthly Payment
$4,383
Location
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Zoned Schools
Elementary
Highland Ranch Elementary · grades K-5 · Poway Unified
Middle
Bernardo Heights Middle · grades 6-8 · Poway Unified
High
Rancho Bernardo High · grades 9-12 · Poway Unified
The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.
Comparable Properties
5 comps foundThis Property
$2,761
Comp Average
$2,675
11865 Caminito Ronaldo
1bd / 1ba · 817 sqft · Condo
$415K
Est. $2,577/mo
13211 Wimberly Sq.
2bd / 2ba · 907 sqft · Condo
$567K
Est. $2,792/mo
10830 Sabre Hill
2bd / 2ba · 904 sqft · Condo
$550K
Est. $2,758/mo
18812 Caminito Cantilena
1bd / 1ba · 814 sqft · Condo
$480K
Est. $2,456/mo
13238 Wimberly Square
2bd / 2ba · 907 sqft · Condo
$599K
Est. $2,792/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
13 leases of studio–2 bed condos & townhomes within 1 mi, same school area · $2,694–$2,950
Blended 50/50 with a property-level estimate
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$2,657/mo short at 20% down; 100% down or +$3,450/mo rent closes it.
- Break-even price
- $135,429
- Break-even rent
- $6,211/mo
- Cashflow at 35% down
- −$2,154/mo
- Down payment to break even
- 100%
- Rate to break even
- Not reachable
72% under asking
$3,450/mo above the estimate
$479,900 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.49% 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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