355 N Melrose Drive F
Atop 10%Vista, CA 92083
HOA rules unknown: an HOA can ban stays under 30 days (Civ. Code §4741), and no permit on file shows this one allows them. Get the CC&Rs.
Pass at asking: -$1,857/mo full cashflow at 20% down, 7.36% rate.
Works at $207,035 (54% under asking), or at 80% down.
Rent $2,866/mo from 9 leases of 2-bed condos & townhomes within 1 mi ($2,980–$3,286).
Beds
2
Baths
2
Sqft
1,152
Year Built
1980
Days on Market
1
Property Type
Condo
HOA/mo
$625
MLS ID
NDP2610258
This property is in Vista (92083). Browse neighborhood analytics →
About This Property
Well maintained top-floor condo unit located within the highly sought-after community of Melrose Park in Vista. This beautiful condo features a wide-open floor plan with neutral paint and trim, laminate flooring throughout and new carpet at bedrooms, updated bathrooms, updated lighting, an updated air conditioner and heater, a cozy fireplace, newer electrical panel, in-unit laundry room. Vaulted ceilings and large windows bask the home in an abundance of natural light. A beautifully appointed kitchen boasting quartz countertops, updated stainless steel appliances, recessed lighting, and warm honey-hued cabinetry with breakfast bar seating that opens to the living room. The spacious master suite offers a large walk-in closet and its own en-suite bathroom. Outdoor living has been extended to a private patio that can be accessed from the living room. The property comes with a detached one car garage and one assigned parking space. Unsurpassed community amenities include 2 sparkling pool/spa, tennis courts. Conveniently located, just minutes away from shopping, dining, parks, Highways 78 and few miles to Oceanside Beach. Don't let this opportunity pass you by!.
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Est. Monthly Payment
$3,689
Location
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Zoned Schools
Elementary
Grapevine Elementary · grades K-5 · Vista Unified
Middle
Madison Middle · grades 6-8 · Vista Unified
High
Rancho Buena Vista High · grades 9-12 · Vista Unified
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 foundThis Property
$2,866
Comp Average
$3,170
341 Melrose Drive
3bd / 2ba · 1,298 sqft · Condo
$539K
Est. $3,411/mo
669 Copper
2bd / 1.5ba · 1,159 sqft · Townhouse
$530K
Est. $3,038/mo
366 Flower Lane
3bd / 2.5ba · 1,386 sqft · Condo
$640K
Est. $3,379/mo

320 Grapevine Rd
2bd / 1.5ba · 982 sqft · Condo
$559K
Est. $2,754/mo
353 Windy Lane
2bd / 2ba · 1,365 sqft · Condo
$649K
Est. $3,269/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
9 leases of 2-bed condos & townhomes within 1 mi · $2,980–$3,286
Blended 50/50 with the zip's market median ($2,631)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$1,857/mo short at 20% down; 80% down or +$2,412/mo rent closes it.
- Break-even price
- $207,035
- Break-even rent
- $5,278/mo
- Cashflow at 35% down
- −$1,391/mo
- Down payment to break even
- 80%
- Rate to break even
- Not reachable
54% under asking
$2,412/mo above the estimate
$360,000 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.36% 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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