2929 Fire Mountain Road
Atop 10%Oceanside, CA 92054
Pass at asking: -$1,501/mo full cashflow at 20% down, 7.49% rate.
Works at $260,460 (43% under asking), or at 68% down.
Rent $3,226/mo from 16 leases of 2–4 bed condos & townhomes within 2 mi ($2,934–$3,410).
Beds
3
Baths
1
Sqft
1,130
Year Built
1971
Days on Market
0
Property Type
Condo
HOA/mo
$475
MLS ID
NDP2609992
This property is in Oceanside (92054). View neighborhood stats →
About This Property
Located just about 3 miles from the beach, this Fire Mountain condo is looking for some love. With a little TLC, this will be a wonderful 3 bedroom home or maybe a rental property for the lucky new owner. 2 bedrooms have large walk-in closets. The 3rd bedroom has been used as a den right off the living room. Some nice french doors would be a lovely addition to close off as a bedroom or use it for whatever you like. There is a large closet in that room. Nice wood laminate floors throughout. Windows and sliding doors were replaced with vinyl at some point. Easy access from your carport and your extra parking space. Lots of visitor parking as well. In ground pool on site. Close to shopping, restaurants, and just minutes to the 78 and the 5 freeways. Don't miss out on living in Fire Mountain. It is one of the most sought after areas in Oceanside. The unit is one story but on the 2nd floor of the building.
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Est. Monthly Payment
$3,605
Location
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Renovation math
Flagged Light Value-Add from the listing remarks — “tlc”.
- Asking now
- $455K
- Worth finished
- $585K
- Budget to renovate
- $129,726
$403/sqft
$517/sqft × 1,130 sqft
$115/sqft to spend
Comparable finished homes nearby suggest this is worth $585K once it's brought to par — about $129,726 above the asking price. That spread is your renovation budget before the deal stops working.
Rent once renovated
- Rent at par
- $3,467/mo
- Cashflow at that rent
- −$1,315/mo
$3.07/sqft × 1,130 sqft, median of 5 comps
cap rate 3.69%, DSCR 0.96
Buying at asking and achieving par rent, excluding the renovation spend itself. We don't publish a current-condition rent: no listing remark says how much work a home needs, and mid-renovation it earns nothing.
Based on 5 comparable homes of the same property type and size currently listed nearby — asking prices and modelled rents, not closed sales. A contractor's scope, not this page, decides what a renovation actually costs.
Comparable Properties
5 comps foundThis Property
$3,226
Comp Average
$2,888
552 Canyon Drive
2bd / 2ba · 1,035 sqft · Condo
$450K
Est. $3,092/mo
265 Loma Alta
2bd / 1ba · 836 sqft · Condo
$415K
Est. $2,770/mo
432 Edgehill Lane
2bd / 1ba · 802 sqft · Condo
$415K
Est. $2,643/mo
2136 Oceanside Boulevard
2bd / 1ba · 954 sqft · Condo
$550K
Est. $2,927/mo
2138 Via Robles
2bd / 2ba · 1,120 sqft · Condo
$619K
Est. $3,010/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
16 leases of 2–4 bed condos & townhomes within 2 mi · $2,934–$3,410
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$1,501/mo short at 20% down; 68% down or +$1,949/mo rent closes it.
- Break-even price
- $260,460
- Break-even rent
- $5,175/mo
- Cashflow at 35% down
- −$1,024/mo
- Down payment to break even
- 68%
- Rate to break even
- 0.20%
43% under asking
$1,949/mo above the estimate
$309,400 cash
at 20% down
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.49% 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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