3945 Alameda
Ctop 80%San Diego, CA 92103
Pass at asking: -$9,258/mo full cashflow at 20% down, 7.49% rate.
Works at $774,661 (61% under asking), or at 88% down.
Rent $7,760/mo from 14 leases of 3–5 bed houses within 1 mi ($7,403–$9,026).
Beds
4
Baths
3
Sqft
3,094
Year Built
1930
Days on Market
0
Property Type
Single Family
HOA/mo
N/A
MLS ID
260026226SD
This property is in San Diego (92103). View neighborhood stats →
About This Property
Rare generational opportunity! One of only 4 grand estate homes facing west high above Alameda Place in Mission Hills, this is a chance to own a piece of Mission Hills history, although the property is NOT currently registered historic or Mills Act! First, the important stuff: DO NOT GO ON PROPERTY! The property is under video surveillance and the property's current condition has extensive hazardous material, and structural obstacles requiring extensive renovation and rebuilding. Also the existing garage structure is fire damaged from years ago and most likely requires tear down. Ok, now that that part is done... The home has some of the finest woodworking details still intact on the lower level. Due to the stately placement high above the street, the views are magnificent from dual outdoor terraces, as well as the dramatic entertainment rooms on the first floor. This is an opportunity for CASH ONLY buyers to create a masterpiece. Home has not been on the market in more than 50+ years!
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Est. Monthly Payment
$13,588
Location
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Renovation math
Flagged Fixer from the listing remarks — “cash only”.
- Asking now
- $1.98M
- Worth finished
- $2.59M
- Budget to renovate
- $617,442
$638/sqft
$838/sqft × 3,094 sqft
$200/sqft to spend
Comparable finished homes nearby suggest this is worth $2.59M once it's brought to par — about $617,442 above the asking price. That spread is your renovation budget before the deal stops working.
Rent once renovated
- Rent at par
- $8,464/mo
- Cashflow at that rent
- −$8,716/mo
$2.74/sqft × 3,094 sqft, median of 5 comps
cap rate 1.67%, DSCR 0.62
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
$7,760
Comp Average
$7,456
1694 Torrance St
4bd / 4ba · 2,850 sqft · Single Family
$2.19M
Est. $7,844/mo
2388 Juan Street
3bd / 3ba · 2,775 sqft · Single Family
$2.29M
Est. $8,167/mo
3784 8th Ave
4bd / 3.5ba · 2,791 sqft · Single Family
$2.45M
Est. $7,257/mo
1230 Brookes Ave
4bd / 4ba · 2,924 sqft · Single Family
$2.45M
Est. $7,174/mo
4301 Hawk St
4bd / 3.5ba · 2,500 sqft · Single Family
$2.75M
Est. $6,839/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
14 leases of 3–5 bed houses within 1 mi · $7,403–$9,026
Blended 50/50 with the zip's market median ($7,385)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$9,258/mo short at 20% down; 88% down or +$12,024/mo rent closes it.
- Break-even price
- $774,661
- Break-even rent
- $19,784/mo
- Cashflow at 35% down
- −$7,189/mo
- Down payment to break even
- 88%
- Rate to break even
- Not reachable
61% under asking
$12,024/mo above the estimate
$1,738,000 cash
Negative even at a 0% loan
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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