133 Mellano Way
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133 Mellano Way

Ctop 80%

Oceanside, CA 92057Neighborhood: Morro Hills

$1,299,900
STR closed · inland Oceanside

0 licensed short-term rentals within ½ mile (0 whole home), from the cities' license and permit lists of Nov 13, 2026.

Pass at asking: -$6,118/mo full cashflow at 20% down, 7.36% rate.

Works at $499,242 (62% under asking), or at 89% down.

Rent $5,423/mo from 11 leases of 4-bed houses within 1 mi ($5,392–$6,468).

Beds

4

Baths

4.5

Sqft

3,494

Year Built

2026

Days on Market

172

Property Type

Single Family

HOA/mo

$360

MLS ID

260012609SD

This property is in Oceanside (92057). Browse neighborhood analytics →

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About This Property

This two-story Next Gen® home that now includes backsplashes and upgraded flooring and is ready for a Quick Move-In, features a private suite with a separate entrance, living area, kitchenette and bedroom for seamless independent living. An open-concept floorplan on the first level combines the kitchen, living and dining areas, with access to a California Room for outdoor entertainment and leisure. On the second floor, three bedrooms surround a versatile loft, including the luxe owner’s suite with a spa-inspired bathroom and walk-in closet. There is also a spacious 3 car garage and driveway. The community has wide streets and sidewalks and ample street parking. Walk to: parks, pools, recreation center with gym, lounge, and conference room, extensive trail system, lawns, viewpoint park, hilltop Magnolia is a collection of new and spacious two-story homes now selling at the North River Farms masterplan in Oceanside, CA. Select plans will feature Lennar’s signature Next Gen® suite, complete with a separate entrance, living space, bedroom, bathroom, kitchenette and laundry room. An extensive trail system weaves throughout the community, and residents will enjoy access to onsite amenities, including picnic areas, swimming pools, a fitness center, pickleball courts and much more. Photos or renderings may be of the Model Home and not the actual home.

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Est. Monthly Payment

$9,211

Principal & Interest$7,172
Property Tax$1,300
Insurance$379
HOA$360
%($259,980)
%
Loan Term

Location

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Short-term not available here. Outside Oceanside's Coastal Zone: inland short-term rentals are banned. See the rules

Investment Score

12C
Est. Monthly Rent
$5,423

11 leases of 4-bed houses within 1 mi · $5,392–$6,468

Blended 50/50 with the zip's market median ($4,709)

Monthly Cashflow

Rent − PITIA

-$3,788
Full Cashflow

Incl. vacancy, PM, maint, capex

-$6,118

What would make this work?

$6,118/mo short at 20% down; 89% down or +$7,946/mo rent closes it.

Break-even price

62% under asking

$499,242
Break-even rent

$7,946/mo above the estimate

$13,369/mo
Cashflow at 35% down
−$4,774/mo
Down payment to break even

$1,156,911 cash

89%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$7,172
Cap Rate
1.22%
Cash-on-Cash
-28.24%
DSCR

Need ≥ 1.25 for DSCR loan

0.59

NOI (Annual)
$15,897
Price-to-Rent

Lower = better for investors

20.0

* 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−$6,118/mo