1424 Thomas Ave
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1424 Thomas Ave

Ctop 80%

San Diego, CA 92109

$2,300,000
STR-eligible · San Diego Tier 3 · TOT 12.75%

One license per person in San Diego: whether you can hold it depends on you, not only the home.

320 licensed short-term rentals within ½ mile (270 whole home), from the cities' license and permit lists of Nov 8, 2026.

Pass at asking: -$11,073/mo full cashflow at 20% down, 7.43% rate.

Works at $858,327 (63% under asking), or at 90% down.

Rent $8,561/mo from 8 leases of 3–5 bed houses within 1 mi, same school area ($7,767–$10,512).

Beds

4

Baths

3.5

Sqft

2,331

Year Built

2014

Days on Market

44

Property Type

Single Family

HOA/mo

N/A

MLS ID

260023230SD

This property is in San Diego (92109). View neighborhood stats →

Virtual Tour

About This Property

Welcome to 1424 Thomas Ave in the heart of Pacific Beach! This detached single-family home offers 5 bedrooms, 3.5 bathrooms, and 2,331 sq. ft. of living space. Historically used as a five-bedroom home, the versatile third-floor space can serve as a fifth bedroom, private office, gym, media room, or entertainment retreat, complete with a small refrigerator. Enjoy spacious bedrooms, a main-level bedroom and full bath, ample storage, whole-home AC with additional third-floor cooling, and a rooftop deck with an outdoor shower and panoramic views from La Jolla to the Pacific Ocean. On a 3,123 sq. ft. lot, extensive custom brickwork and pavers maximize every inch of outdoor space, from the enclosed front patio to the private backyard with pergola, decades old unique cactus throughout and custom gas fire pit, creating low-maintenance spaces for year-round indoor-outdoor living. Just a 5-minute walk to the Mission Bay Boardwalk and 15 minute slow walk to the Pacific Ocean, with restaurants and shops nearby. The property has minimal modeled wildfire and flood risk, with historically affordable home insurance of approximately $750 annually, including earthquake coverage. Highlights include paid-off solar, no HOA, a detached two-car garage with alley access and independent power previously used for EV charging. Potential for a future ADU, including a 450 sq. ft. addition above the garage, upon approval.

Mortgage Calculator

Est. Monthly Payment

$15,748

Principal & Interest$12,777
Property Tax$2,300
Insurance$671
%($460,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Crown Point Elementary · grades PK-5 · San Diego Unified

  • Middle

    Pacific Beach Middle · grades 6-8 · San Diego Unified

  • High

    Mission Bay 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

11C
Est. Monthly Rent
$8,561

8 leases of 3–5 bed houses within 1 mi, same school area · $7,767–$10,512

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$7,187
Full Cashflow

Incl. vacancy, PM, maint, capex

-$11,073

What would make this work?

$11,073/mo short at 20% down; 90% down or +$14,381/mo rent closes it.

Break-even price

63% under asking

$858,327
Break-even rent

$14,381/mo above the estimate

$22,942/mo
Cashflow at 35% down
−$8,677/mo
Down payment to break even

$2,070,000 cash

90%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$12,777
Cap Rate
1.11%
Cash-on-Cash
-28.89%
DSCR

Need ≥ 1.25 for DSCR loan

0.54

NOI (Annual)
$25,588
Price-to-Rent

Lower = better for investors

22.4

* 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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CCashflow−$11,073/mo