1642 7th Street 419

1642 7th Street 419

Btop 30%

San Diego, CA 92101

$560,000
NEW — 1d

Pass at asking: -$2,671/mo full cashflow at 20% down, 7.49% rate.

Works at $213,701 (62% under asking), or at 89% down.

Rent $2,900/mo from 13 leases of 1-bed condos & townhomes within 0.5 mi ($2,583–$2,996).

Beds

1

Baths

1

Sqft

841

Year Built

2004

Days on Market

1

Property Type

Condo

HOA/mo

$585

MLS ID

260026095SD

This property is in San Diego (92101). View neighborhood stats →

About This Property

Own Your Downtown Escape--Modern Upgrades & Balcony Views at The Mills at Cortez Hill! Come home to modern style, smart-home convenience, and downtown San Diego at your doorstep. This thoughtfully enhanced residence at The Mills at Cortez Hill puts you just one mile from Petco Park and minutes from Balboa Park, Little Italy, the Gaslamp Quarter, and downtown's vibrant dining and nightlife. Enjoy a pet-friendly community that brings convenience and character together--then head out to explore everything nearby. Step inside and discover upgrades that make everyday living feel special: new flooring, an updated shower, contemporary linear lighting, recessed downlights, and a stylish lighted bathroom mirror. An updated electrical system, smart switches, and a smart thermostat bring added convenience to your daily routine. Step out to your private, covered balcony-your everyday escape, with views of downtown, the waterfront, and Balboa Park. Beyond your door, discover the historic Mills House--an early-1900s Craftsman home originally built by renowned architect Irving Gill, now an exceptional resident gathering space. With a full kitchen, fireplace, pool table, large-screen TV, and conference room, it offers space to gather and unwind. Complete the experience with a fitness center, secure underground parking, an extra storage unit, high-speed elevators, landscaped courtyards, multiple lobby entrances, and nighttime security. Picture your next chapter here: downtown adventures, a private balcony retreat, and a beautifully upgraded place to call your own.

Mortgage Calculator

Est. Monthly Payment

$4,438

Principal & Interest$3,129
Property Tax$560
Insurance$163
HOA$585
%($112,000)
%
Loan Term

Location

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Investment Score

36B
Est. Monthly Rent
$2,900

13 leases of 1-bed condos & townhomes within 0.5 mi · $2,583–$2,996

Blended 50/50 with the zip's market median ($2,924)

Monthly Cashflow

Rent − PITIA

-$1,537
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,671

What would make this work?

$2,671/mo short at 20% down; 89% down or +$3,469/mo rent closes it.

Break-even price

62% under asking

$213,701
Break-even rent

$3,469/mo above the estimate

$6,369/mo
Cashflow at 35% down
−$2,084/mo
Down payment to break even

$498,400 cash

89%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$3,129
Cap Rate
1.29%
Cash-on-Cash
-28.62%
DSCR

Need ≥ 1.25 for DSCR loan

0.65

NOI (Annual)
$7,240
Price-to-Rent

Lower = better for investors

16.1

* 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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BCashflow−$2,671/mo