2281 Fairfield Street

2281 Fairfield Street

Ctop 80%

San Diego, CA 92110

$1,299,900
NEW — 0d

Pass at asking: -$6,152/mo full cashflow at 20% down, 7.43% rate.

Works at $498,857 (62% under asking), or at 89% down.

Rent $4,976/mo from 12 leases of 2–4 bed houses within 1 mi ($4,204–$5,192).

Beds

3

Baths

2

Sqft

1,335

Year Built

1956

Days on Market

0

Property Type

Single Family

HOA/mo

N/A

MLS ID

260026543SD

This property is in San Diego (92110). View neighborhood stats →

About This Property

Experience the best of Southern California coastal living in this charming single-story ranch-style bungalow, ideally situated in a quiet, highly desirable Bay Park neighborhood. Just a short stroll from breathtaking panoramic views of Mission Bay and the Pacific Ocean, this inviting home offers the perfect blend of coastal charm, timeless character, and convenience. Filled with natural light, the home features an expansive living room highlighted by beautiful exposed ceiling beams, oversized windows, and original hardwood flooring, creating a warm and inviting atmosphere that showcases the home's classic architectural character. The property retains much of its original charm and distinctive details, complemented by practical improvements including fully paid solar, an upgraded electrical panel, recently painted board-and-batten siding, and vinyl windows. The home's outdoor spaces are equally impressive, featuring low-maintenance xeriscaped front and backyards, mature landscaping, and a spacious, private backyard ideal for entertaining, relaxing, or enjoying San Diego's year-round coastal climate. The charming front courtyard welcomes you with brick pavers, raised garden beds, distinctive architectural details, and a private entry that adds character and curb appeal. Additional highlights include an oversized two-car garage with ample storage for beach gear, bicycles, and recreational equipment, along with generous additional parking. Enjoy an exceptional coastal lifestyle with nearby schools within walking distance and convenient access to Mission Bay, Old Town, SeaWorld, Presidio Park, Bird Rock Coffee Roasters, neighborhood restaurants, popular breakfast spots, and local attractions--all just a short walk, bike ride, or drive away. Tucked away in a peaceful residential neighborhood, yet conveniently located near San Diego's most popular coastal destinations, this Bay Park gem presents a wonderful opportunity to own a home rich in original character and architectural charm. With its spacious indoor and outdoor living areas, desirable location, and classic California bungalow appeal, this property offers an inviting setting to enjoy the relaxed coastal lifestyle that makes Bay Park so special.

Mortgage Calculator

Est. Monthly Payment

$8,901

Principal & Interest$7,221
Property Tax$1,300
Insurance$379
%($259,980)
%
Loan Term

Location

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Investment Score

12C
Est. Monthly Rent
$4,976

12 leases of 2–4 bed houses within 1 mi · $4,204–$5,192

Blended 50/50 with the zip's market median ($5,296)

Monthly Cashflow

Rent − PITIA

-$3,924
Full Cashflow

Incl. vacancy, PM, maint, capex

-$6,152

What would make this work?

$6,152/mo short at 20% down; 89% down or +$7,990/mo rent closes it.

Break-even price

62% under asking

$498,857
Break-even rent

$7,990/mo above the estimate

$12,966/mo
Cashflow at 35% down
−$4,798/mo
Down payment to break even

$1,156,911 cash

89%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$7,221
Cap Rate
1.22%
Cash-on-Cash
-28.40%
DSCR

Need ≥ 1.25 for DSCR loan

0.56

NOI (Annual)
$15,818
Price-to-Rent

Lower = better for investors

21.8

* 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−$6,152/mo