
38 Mardi Gras
Ctop 80%Coronado, CA 92118
Pass at asking: -$9,122/mo full cashflow at 20% down, 7.43% rate.
Works at $607,322 (66% under asking), or at 94% down.
Rent $6,981/mo from 19 leases of 3-bed houses in 92118 ($6,581–$7,745).
Beds
3
Baths
2.5
Sqft
1,830
Year Built
1990
Days on Market
47
Property Type
Single Family
HOA/mo
$711.02
MLS ID
260023361SD
This property is in Coronado (92118). Browse neighborhood analytics →
About This Property
Experience the best of coastal living in this Coronado Cays home located in the highly desirable Mardi Gras Village. Surrounded by lush greenery and filled with natural light, this 3-bedroom, 2.5-bath residence offers a rare combination of comfort, space, and effortless living. Step inside to soaring vaulted ceilings and a light-filled living room anchored by a cozy fireplace, creating an impressive yet welcoming first impression. The kitchen features granite countertops, stainless steel appliances, and a charming breakfast nook for casual mornings at home. A spacious main-level primary suite makes everyday living exceptionally convenient, complete with a walk-in closet, soaking tub, dual vanities, and nearby laundry. Upstairs, two generously sized bedrooms and a full bath provide flexible space for family, guests, a home office, or all three. Outside, a private patio surrounded by greenery invites you to dine al fresco, unwind after a day at the beach, or simply enjoy San Diego’s year-round sunshine. Recent improvements, including a brand-new roof and freshly painted exterior trim, both covered by the HOA, offering peace of mind. Life in Mardi Gras Village extends well beyond your front door. Enjoy the community pool, tennis courts, and BBQ areas, with Silver Strand State Beach, dog park, pickleball courts, and playground all within walking distance. Whether it’s a morning stroll by the ocean, an afternoon at the pool, or sunset at the beach, this home offers the relaxed Coronado lifestyle buyers. Move in and enjoy!
Mortgage Calculator
Est. Monthly Payment
$13,002
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.
Comparable Properties
5 comps foundThis Property
$6,981
Comp Average
$6,828
22 Catspaw Cape
3bd / 2.5ba · 2,242 sqft · Single Family
$2.30M
Est. $7,564/mo
1414 4th St
3bd / 2ba · 1,608 sqft · Single Family
$2.10M
Est. $6,206/mo
836 C Ave.
3bd / 2.5ba · 1,521 sqft · Single Family
$2.30M
Est. $6,659/mo
810 2nd Street
3bd / 3ba · 1,492 sqft · Single Family
$2.50M
Est. $6,451/mo
200 E Ave
3bd / 3ba · 2,080 sqft · Single Family
$2.75M
Est. $7,261/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Short-term not available here. Coronado bans stays of 25 days or less in residential zones. See the rules
Investment Score
19 leases of 3-bed houses in 92118 · $6,581–$7,745
Blended 50/50 with the zip's market median ($6,874)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$9,122/mo short at 20% down; 94% down or +$11,847/mo rent closes it.
- Break-even price
- $607,322
- Break-even rent
- $18,828/mo
- Cashflow at 35% down
- −$7,253/mo
- Down payment to break even
- 94%
- Rate to break even
- Not reachable
66% under asking
$11,847/mo above the estimate
$1,687,300 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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