241 F Avenue
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241 F Avenue

Dbottom 20%

Coronado, CA 92118

$3,575,000

Pass at asking: -$21,597/mo full cashflow at 20% down, 7.43% rate.

Works at $762,980 (79% under asking); even all cash loses money at asking.

Rent $7,611/mo from 9 leases of houses within 0.5 mi, same school area, size-adjusted ($7,109–$9,076).

Beds

6

Baths

4

Sqft

2,426

Year Built

1943

Days on Market

271

Property Type

Single Family

HOA/mo

N/A

MLS ID

260003579SD

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

Virtual Tour

About This Property

A rare offering in Coronado Village, 241–243 F Avenue presents two separate residences thoughtfully positioned on a generous 7,000 sq. ft. lot just moments from the Bay and the Ferry Landing. The front home, originally built in 1943, is a single-story 3-bedroom, 2-bath residence offering timeless character and everyday livability. Hardwood flooring, an inviting street presence, driveway parking, a one-car garage, and a private backyard create a comfortable setting in a highly desirable Village location. Positioned toward the rear of the property, the second residence is a two-story home built in 1971, also offering a three-bedroom, two-bath layout with one bedroom conveniently situated on the main level. The home features an inviting living space with sliding doors opening to a private backyard, along with a full bath and dedicated laundry. Upstairs are two additional bedrooms, including the primary bedroom with direct access to a private deck overlooking the downtown San Diego skyline. Three dedicated parking spaces further enhance functionality and ease of living. The generous 7,000 sq. ft. R1B-zoned parcel presents meaningful long-term potential, including possible redevelopment into two side-by-side residences, subject to buyer due diligence and City approvals. The property has also received a non-historic determination from the Historic Resource Commission, offering added clarity for those considering future renovation or reconfiguration. A unique and compelling opportunity in one of Coronado Village’s most sought-after locations, rich with possibility. Front House is 1,156 SF and Back House is 1,270 SF per Matterport. Matterports are available for both residences, see virtual tour links.

Mortgage Calculator

Est. Monthly Payment

$24,478

Principal & Interest$19,861
Property Tax$3,575
Insurance$1,043
%($715,000)
%
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

0D
Est. Monthly Rent
$7,611

9 leases of houses within 0.5 mi, same school area, size-adjusted · $7,109–$9,076

Monthly Cashflow

Rent − PITIA

-$16,868
Full Cashflow

Incl. vacancy, PM, maint, capex

-$21,597

What would make this work?

$21,597/mo short at 20% down; +$28,048/mo rent closes it.

Break-even price

79% under asking

$762,980
Break-even rent

$28,048/mo above the estimate

$35,659/mo
Cashflow at 35% down
−$17,873/mo
Down payment to break even

Negative even all-cash

Not reachable
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$19,861
Cap Rate
-0.46%
Cash-on-Cash
-36.25%
DSCR

Need ≥ 1.25 for DSCR loan

0.31

NOI (Annual)
-$16,274
Price-to-Rent

Lower = better for investors

39.1

* 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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DCashflow−$21,597/mo