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1338 Nicolette Avenue #1011

Btop 30%

Chula Vista, CA 91913

$599,900

STR limited · Chula Vista residents only · TOT 10%

An HOA may ban rentals of 30 days or less (Civ. Code §4741): check the CC&Rs.

Pass at asking: -$2,413/mo full cashflow at 20% down, 7.43% rate.

Works at $285,767 (52% under asking), or at 78% down.

Rent $3,298/mo from 9 leases of 3-bed condos & townhomes within 0.5 mi ($3,275–$3,519).

Beds

Baths

Sqft

1,315

Year Built

2005

Days on Market

118

Property Type

Condo

HOA/mo

$345

MLS ID

PTP2604199

This property is in Chula Vista (91913). Browse neighborhood analytics →

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About This Property

VA Approved Condo in the highly sought-after Mer Soleil community! Rarely available first-floor unit with direct garage entry, offering a feature not commonly found in comparable upper-level homes. This beautifully maintained 3-bedroom, 2-bath residence offers 1,315 sq ft of comfortable living space with one of the community's most desirable floor plans. The bright, open layout features spacious living and dining areas filled with natural light, creating an inviting space for everyday living and entertaining. The kitchen flows seamlessly into the main living area, while the generously sized primary suite provides a private retreat with ample closet space and an en-suite bath. Enjoy resort-style community amenities along with nearby parks, top-rated schools, shopping, dining, and convenient freeway access. A fantastic opportunity to own in one of Otay Ranch's most desirable communities, where limited inventory and strong buyer demand continue to make homes highly sought after.

Mortgage Calculator

Est. Monthly Payment

$4,453

Principal & Interest$3,333

Property Tax$600

Insurance$175

HOA$345

Down Payment

%($119,980)

Interest Rate

Loan Term

Location

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Zoned Schools

Elementary
Veterans Elementary · grades K-6 · Chula Vista Elementary
Middle
Rancho del Rey Middle · grades 7-8 · Sweetwater Union High
High
Olympian High · grades 9-12 · Sweetwater Union High

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 found

This Property

$3,298

Comp Average

$3,443

1890 Chambery Pl

3bd / 2ba · 1,315 sqft · Condo

$550K

Est. $3,516/mo

1241 Santa Cora Avenue

3bd / 2.5ba · 1,385 sqft · Condo

$579K

Est. $3,514/mo

1880 Aubrives Place

3bd / 2ba · 1,315 sqft · Condo

$595K

Est. $3,313/mo

2044 Bluestone Circle

3bd / 2.5ba · 1,316 sqft · Condo

$640K

Est. $3,528/mo

1879 Platte River Lane

3bd / 2.5ba · 1,303 sqft · Condo

$663K

Est. $3,346/mo

Comps based on same zip code, similar beds (±1), price range (60-150%).

Investment Score

48B

Est. Monthly Rent

$3,298

9 leases of 3-bed condos & townhomes within 0.5 mi · $3,275–$3,519

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$1,155

Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,413

What would make this work?

$2,413/mo short at 20% down; 78% down or +$3,134/mo rent closes it.

Break-even price: $285,767
Break-even rent: $6,432/mo
Cashflow at 35% down: −$1,788/mo
Down payment to break even: 78%
Rate to break even: Not reachable

Mortgage (P+I)

$3,333

Cap Rate

2.17%

Cash-on-Cash

-24.13%

DSCR

Need ≥ 1.25 for DSCR loan

0.74

NOI (Annual)

$13,015

Price-to-Rent

Lower = better for investors

15.2

* 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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BCashflow−$2,413/mo