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228 15th Ave
1 / 20

228 15th Ave

Ctop 80%

Escondido, CA 92025

$799,000
STR limited · Escondido pilot, owners only · TOT 10%

Pass at asking: -$3,519/mo full cashflow at 20% down, 7.43% rate.

Works at $340,924 (57% under asking), or at 84% down.

Rent $3,400/mo from 12 leases of 2–4 bed houses within 1 mi ($2,791–$3,384). Previously leased for $3,400.

Beds

3

Baths

1

Sqft

1,008

Year Built

1955

Days on Market

495

Property Type

Single Family

HOA/mo

N/A

MLS ID

240027192SD

This property is in Escondido (92025). View neighborhood stats →

Virtual Tour

About This Property

This unique property features a charming three-bedroom one-bathroom home and a one-bedroom cottage nestled on nearly a 1/4-acre lot. The main home boasts wood floors throughout. The guest cottage offers a retreat for visitors or could serve as a rental for additional income. The expansive lot provides plenty of space for outdoor living, gardening, or future development. With R2 zoning, there's potential to add more units or expand the existing structures, making this an excellent investment opportunity. Located in a neighborhood that is growing quickly, this property is perfectly positioned to take advantage of Escondido's rising demand for housing, offering long-term growth potential. Whether you're a savvy investor or a homeowner looking to build equity, this is a prime opportunity to add value in a thriving community.

Mortgage Calculator

Est. Monthly Payment

$5,471

Principal & Interest$4,439
Property Tax$799
Insurance$233
%($159,800)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Juniper Elementary · grades K-5 · Escondido Union

  • Middle

    Bear Valley Middle · grades 6-8 · Escondido Union

  • High

    San Pasqual High · grades 9-12 · Escondido 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

$3,400

vs

Comp Average

$3,031

350 Pennsylvania

350 Pennsylvania

3bd / 2ba · 1,142 sqft · Single Family

$575K

Est. $3,461/mo

418 Pennsylvania

418 Pennsylvania

2bd / 1ba · 858 sqft · Single Family

$525K

Est. $2,819/mo

1411 Broadway Place

1411 Broadway Place

3bd / 2ba · 1,300 sqft · Single Family

$755K

Est. $3,486/mo

411 Waverly

411 Waverly

2bd / 1ba · 784 sqft · Single Family

$700K

Est. $2,713/mo

735 6th

735 6th

2bd / 1ba · 834 sqft · Single Family

$725K

Est. $2,675/mo

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

Investment Score

31C
Est. Monthly Rent
$3,400

Previously leased for $3,400

12 leases of 2–4 bed houses within 1 mi · $2,791–$3,384

Monthly Cashflow

Rent − PITIA

-$2,071
Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,519

What would make this work?

$3,519/mo short at 20% down; 84% down or +$4,570/mo rent closes it.

Break-even price

57% under asking

$340,924
Break-even rent

$4,570/mo above the estimate

$7,970/mo
Cashflow at 35% down
−$2,686/mo
Down payment to break even

$671,160 cash

84%
Rate to break even

Negative even at a 0% loan

Not reachable
Mortgage (P+I)
$4,439
Cap Rate
1.64%
Cash-on-Cash
-26.42%
DSCR

Need ≥ 1.25 for DSCR loan

0.62
NOI (Annual)
$13,082
Price-to-Rent

Lower = better for investors

19.6

* 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−$3,519/mo