1677 Melrose Av #E
Atop 10%Chula Vista, CA 91911
An HOA may ban rentals of 30 days or less (Civ. Code §4741): check the CC&Rs.
Pass at asking: -$1,704/mo full cashflow at 20% down, 7.43% rate.
Works at $178,186 (55% under asking), or at 82% down.
Rent $2,741/mo from 13 leases of 1–3 bed condos & townhomes within 2 mi ($2,593–$2,764).
Beds
2
Baths
2
Sqft
920
Year Built
1984
Days on Market
91
Property Type
Condo
HOA/mo
$742
MLS ID
PTP2606099
This property is in Chula Vista (91911). Browse neighborhood analytics →
About This Property
Welcome to this wonderful updated 2 bedroom, 2 bath entry level condo in the gated community of Melrose Villas in Chula Vista. It has a private backyard and the community includes a pool and jacuzzi. Major renovations were completed in March 2024, including bathrooms, windows, doors, flooring, and painting. The kitchen was updated with a new refrigerator, dishwasher, microwave, cabinets, and fixtures. It's conveniently located close to shops, restaurants and major freeways.
Mortgage Calculator
Est. Monthly Payment
$3,481
Location
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Zoned Schools
Elementary
Rohr (Fred H.) Elementary · grades PK-6 · Chula Vista Elementary
Middle
Castle Park Middle · grades 7-8 · Sweetwater Union High
High
Castle Park Senior 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 foundThis Property
$2,741
Comp Average
$2,761
715 Paso De Luz
2bd / 2ba · 1,050 sqft · Condo
$489K
Est. $2,990/mo
528 Anita Street
2bd / 1ba · 854 sqft · Condo
$440K
Est. $2,441/mo
1687 Melrose Ave
2bd / 2ba · 920 sqft · Condo
$410K
Est. $2,813/mo
1677 Melrose Ave.
2bd / 2ba · 920 sqft · Condo
$428K
Est. $2,646/mo
765 Caminito Valiente
2bd / 2ba · 1,034 sqft · Condo
$573K
Est. $2,917/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
13 leases of 1–3 bed condos & townhomes within 2 mi · $2,593–$2,764
Blended 50/50 with a property-level estimate
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$1,704/mo short at 20% down; 82% down or +$2,213/mo rent closes it.
- Break-even price
- $178,186
- Break-even rent
- $4,954/mo
- Cashflow at 35% down
- −$1,287/mo
- Down payment to break even
- 82%
- Rate to break even
- Not reachable
55% under asking
$2,213/mo above the estimate
$327,999 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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