445 Island Ave 504

Atop 10%

San Diego, CA 92101

$350,000

Pass at asking: -$1,452/mo full cashflow at 20% down, 7.43% rate.

Works at $160,913 (54% under asking), or at 80% down.

Rent $2,535/mo from 59 leases of studio–1 bed condos & townhomes within 0.5 mi ($2,300–$2,900).

Beds

Studio

Baths

Sqft

623

Year Built

2006

Days on Market

—

Property Type

Condo

HOA/mo

$716

MLS ID

260026743SD

This property is in San Diego (92101). View neighborhood stats →

About This Property

Move-in ready home in the heart of the vibrant Gaslamp Quarter featuring laminate wood flooring, soaring ceilings, contemporary finishes, and designer paint throughout. The stylish kitchen showcases modern cabinetry, granite countertops with ample prep space, and an industrial-inspired light fixture, all opening seamlessly to the bright living area with oversized windows. This spacious residence also offers a full bathroom and the convenience of an in-unit stacked washer and dryer. Bike storage from community!

Mortgage Calculator

Est. Monthly Payment

$3,112

Principal & Interest$1,944

Property Tax$350

Insurance$102

HOA$716

Down Payment

%($70,000)

Interest Rate

Loan Term

Location

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Comparable Properties

5 comps found

This Property

$2,535

Comp Average

$2,526

1970 Columbia

1bd / 1ba · 631 sqft · Condo

$424K

Est. $3,068/mo

1150 J

Studio / 1ba · 571 sqft · Condo

$380K

Est. $2,765/mo

1150 J St

Studio / 1ba · 572 sqft · Condo

$365K

Est. $2,485/mo

1480 Broadway

1bd / 1ba · 640 sqft · Condo

$340K

Est. $2,310/mo

550 15th St.

Studio / 1ba · 526 sqft · Condo

$364K

Est. $2,002/mo

Comps based on same zip code, similar beds (±1), price range (60-150%).

Investment Score

57A

Est. Monthly Rent

$2,535

59 leases of studio–1 bed condos & townhomes within 0.5 mi · $2,300–$2,900

Blended 50/50 with the zip's market median ($2,543)

Monthly Cashflow

Rent − PITIA

-$577

Full Cashflow

Incl. vacancy, PM, maint, capex

-$1,452

What would make this work?

$1,452/mo short at 20% down; 80% down or +$1,886/mo rent closes it.

Break-even price: $160,913
Break-even rent: $4,421/mo
Cashflow at 35% down: −$1,088/mo
Down payment to break even: 80%
Rate to break even: Not reachable

Mortgage (P+I)

$1,944

Cap Rate

2.12%

Cash-on-Cash

-24.89%

DSCR

Need ≥ 1.25 for DSCR loan

0.81

NOI (Annual)

$7,428

Price-to-Rent

Lower = better for investors

11.5

* 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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ACashflow−$1,452/mo