22 Montego Court
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22 Montego Court

Ctop 80%

Coronado, CA 92118

$1,139,000

Pass at asking: -$5,589/mo full cashflow at 20% down, 7.43% rate.

Works at $411,310 (64% under asking), or at 91% down.

Rent $5,191/mo from 5 leases of 1-bed condos & townhomes in 92118 ($4,462–$5,178).

Beds

1

Baths

2

Sqft

1,471

Year Built

1982

Days on Market

118

Property Type

Condo

HOA/mo

$838

MLS ID

CV26153535

This property is in Coronado (92118). Browse neighborhood analytics →

Virtual Tour

About This Property

Located within the coveted waterfront community of Coronado Cays, this elevated residence presents an exceptional opportunity to enjoy panoramic views spanning the Pacific Ocean, San Diego Bay, the surrounding marina, Coronado Islands, Point Loma, and the Coronado skyline. A wide staircase ascends to the private front entry, where an expansive living room featuring recessed lighting, a marble-surround fireplace, custom built-in cabinetry with glass display shelving, and a wall of sliding glass doors to a balcony. The adjoining dining area flows seamlessly into the kitchen, appointed with wood cabinetry, tiled countertops, generous preparation space, a breakfast bar with seating, and an open pass-through that connects to the main living area. The main level is further complemented by a bathroom featuring a vanity and walk-in shower. A staircase leads to the private upper level, where the expansive primary suite was originally designed to occupy the footprint of the community's larger two-bedroom floor plan, creates an exceptionally spacious retreat with ample room for both a sleeping area and sitting space with the flexibility for conversion back to a two-bedroom layout if desired. Sliding glass doors open to a private balcony showcasing panoramic views of the Pacific, San Diego Bay, the marina, Coronado Islands, Point Loma, and the Coronado skyline, while providing a front-row seat to spectacular sunsets and refreshing ocean breezes. The suite is complemented by a generous walk-in closet, a standard closet, a primary bathroom, and a conveniently located hallway laundry area. Additional highlights include recessed lighting, a dedicated two-car covered carport with overhead storage cabinets, and abundant guest parking throughout the community. Residents enjoy beautifully maintained grounds surrounded by lush tropical landscaping, resort-inspired amenities including a swimming pool, spa, sun deck with lounge seating, and clubhouse. Just beyond the community are waterfront walking paths, beaches, marinas, yacht clubs, parks, acclaimed restaurants, boutique shopping, and all that Coronado has to offer. Renowned for its year-round temperate coastal climate, Coronado enjoys refreshing ocean breezes, mild conditions throughout every season, and summer temperatures that remain noticeably cooler than inland Southern California, offering an exceptional opportunity to own within one of Southern California's most prestigious and sought-after waterfront communities.

Mortgage Calculator

Est. Monthly Payment

$8,637

Principal & Interest$6,328
Property Tax$1,139
Insurance$332
HOA$838
%($227,800)
%
Loan Term

Location

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Zoned Schools

  • Middle

    Coronado Middle · grades 6-8 · Coronado Unified

  • High

    Coronado High · grades 9-12 · Coronado Unified

The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.

Short-term not available here. Coronado bans stays of 25 days or less in residential zones. See the rules

Investment Score

11C
Est. Monthly Rent
$5,191

5 leases of 1-bed condos & townhomes in 92118 · $4,462–$5,178

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$3,446
Full Cashflow

Incl. vacancy, PM, maint, capex

-$5,589

What would make this work?

$5,589/mo short at 20% down; 91% down or +$7,258/mo rent closes it.

Break-even price

64% under asking

$411,310
Break-even rent

$7,258/mo above the estimate

$12,449/mo
Cashflow at 35% down
−$4,402/mo
Down payment to break even

$1,036,490 cash

91%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$6,328
Cap Rate
1.05%
Cash-on-Cash
-29.44%
DSCR

Need ≥ 1.25 for DSCR loan

0.60

NOI (Annual)
$11,981
Price-to-Rent

Lower = better for investors

18.3

* 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−$5,589/mo