3920 Sherbourne Drive
Atop 10%Oceanside, CA 92056Neighborhood: Mira Costa
9 licensed short-term rentals within ½ mile (9 whole home), from the cities' license and permit lists of Nov 6, 2026.
Pass at asking: -$2,767/mo full cashflow at 20% down, 7.43% rate.
Works at $438,710 (45% under asking), or at 70% down.
Rent $4,376/mo from 11 leases of 3–5 bed houses within 1 mi ($3,876–$4,378).
Beds
4
Baths
2
Sqft
1,598
Year Built
1973
Days on Market
0
Property Type
Single Family
HOA/mo
N/A
MLS ID
NDP2610058
This property is in Oceanside (92056). View neighborhood stats →
About This Property
**Opportunity Knocks in Oceanside!** Bring your vision and unlock the potential of this 4-bedroom, 2-bath detached home in Oceanside. Offering 1,598 square feet of living space, this split-level home has the kind of good bones and solid foundation that make it a wonderful opportunity to personalize, update, and make your own. The home is clean and well maintained, with an opportunity for cosmetic updates to reflect your own style. Enjoy a fenced backyard surrounded by mature trees, creating a private outdoor setting with room to relax, entertain, garden, or simply enjoy the Southern California lifestyle. Additional highlights include a paid-off solar system, a water heater purchased in 2025, a new dishwasher, dual pane windows, and a two-car attached garage. Best of all, there is no HOA! Whether you're looking for your next home, a property to customize over time, or an opportunity to build equity through thoughtful improvements, this property is full of possibilities. Close to a park and playground as well as close to Hwy 78.
Mortgage Calculator
Est. Monthly Payment
$5,471
Location
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Zoned Schools
Elementary
Christa McAuliffe Elementary · grades K-5 · Oceanside Unified
Middle
Martin Luther King Jr. Middle · grades 6-8 · Oceanside Unified
High
El Camino High · grades 9-12 · Oceanside Unified
The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.
Renovation math
Flagged Fixer from the listing remarks — “bring your vision”, “cosmetic updates”.
- Asking now
- $799K
- Worth finished
- $898K
- Budget to renovate
- $99,438
$500/sqft
$562/sqft × 1,598 sqft
$62/sqft to spend
Comparable finished homes nearby suggest this is worth $898K once it's brought to par — about $99,438 above the asking price. That spread is your renovation budget before the deal stops working.
Rent once renovated
- Rent at par
- $4,044/mo
- Cashflow at that rent
- −$3,023/mo
$2.53/sqft × 1,598 sqft, median of 5 comps
cap rate 2.43%, DSCR 0.74
Heads up: the rent estimate elsewhere on this page ($4,376/mo) is above what comparable finished homes here support. A home that needs work does not out-rent them, so treat $4,044/mo as the ceiling.
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
$4,376
Comp Average
$3,910
2787 Thunder Dr
4bd / 2ba · 1,456 sqft · Single Family
$760K
Est. $3,685/mo
2589 Joann Dr
4bd / 2ba · 1,603 sqft · Single Family
$890K
Est. $3,788/mo
1866 Via Primero
3bd / 2.5ba · 1,599 sqft · Single Family
$899K
Est. $3,786/mo
4081 Mira Costa Street
4bd / 2ba · 1,480 sqft · Single Family
$1.10M
Est. $4,051/mo
2233 Valley Road
4bd / 2ba · 1,610 sqft · Single Family
$1.20M
Est. $4,241/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Short-term not available here. Outside Oceanside's Coastal Zone: inland short-term rentals are banned. See the rules
Investment Score
11 leases of 3–5 bed houses within 1 mi · $3,876–$4,378
Blended 50/50 with the zip's market median ($4,596)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$2,767/mo short at 20% down; 70% down or +$3,594/mo rent closes it.
- Break-even price
- $438,710
- Break-even rent
- $7,970/mo
- Cashflow at 35% down
- −$1,935/mo
- Down payment to break even
- 70%
- Rate to break even
- Not reachable
45% under asking
$3,594/mo above the estimate
$559,300 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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