4554 Narragansett Avenue
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4554 Narragansett Avenue

Ctop 80%

San Diego, CA 92107

$2,399,999
NEW — 0d
STR-eligible · San Diego Tier 3 · TOT 12.75%

One license per person in San Diego: whether you can hold it depends on you, not only the home.

181 licensed short-term rentals within ½ mile (119 whole home), from the cities' license and permit lists of Nov 6, 2026.

Pass at asking: -$12,849/mo full cashflow at 20% down, 7.43% rate.

Works at $727,056 (70% under asking), or at 98% down.

Rent $7,252/mo from 11 leases of 3–5 bed houses within 1 mi ($6,071–$7,035).

Beds

4

Baths

3.5

Sqft

1,882

Year Built

1941

Days on Market

0

Property Type

Single Family

HOA/mo

N/A

MLS ID

PTP2608232

This property is in San Diego (92107). View neighborhood stats →

Virtual Tour

About This Property

Experience coastal elegance with two beautifully remodeled residences, both offering stunning ocean views, sophisticated finishes, and modern luxury in the heart of Ocean Beach. The impressive 3-bedroom, 2.5 bathroom main residence showcases a stunning chef-inspired kitchen with custom cabinetry, Carrara-style countertops, premium FORNO appliances, and designer brass accents. Additional highlights include gorgeous engineered hardwood flooring, elegant lighting, a contemporary fireplace, beautifully remodeled bathrooms with a freestanding soaking tub, and a bi-fold door creating seamless indoor-outdoor living. Charming coastal architecture, a redesigned front porch, custom wrought-iron railing, refreshed landscaping, and a one-car garage complete this exceptional home. The fully remodeled 1-bedroom, 1-bathroom rear residence features beautiful ocean views, its own parking, a spacious walk-in closet, and stylish modern finishes. Perfect for extended family, guests, or potential rental income. Ideally located in desirable Ocean Beach, just minutes from beaches, dining, shopping, and coastal attractions. A rare opportunity to own two luxurious, move-in-ready residences with ocean views in one of San Diego’s most sought-after coastal communities!

Mortgage Calculator

Est. Monthly Payment

$16,433

Principal & Interest$13,333
Property Tax$2,400
Insurance$700
%($480,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Ocean Beach Elementary · grades PK-4 · San Diego Unified

  • Middle

    Correia Middle · grades 7-8 · San Diego Unified

  • High

    Point Loma High · grades 9-12 · San Diego Unified

The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.

Investment Score

4C
Est. Monthly Rent
$7,252

11 leases of 3–5 bed houses within 1 mi · $6,071–$7,035

Blended 50/50 with the zip's market median ($8,065)

Monthly Cashflow

Rent − PITIA

-$9,181
Full Cashflow

Incl. vacancy, PM, maint, capex

-$12,849

What would make this work?

$12,849/mo short at 20% down; 98% down or +$16,687/mo rent closes it.

Break-even price

70% under asking

$727,056
Break-even rent

$16,687/mo above the estimate

$23,939/mo
Cashflow at 35% down
−$10,349/mo
Down payment to break even

$2,351,999 cash

98%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$13,333
Cap Rate
0.42%
Cash-on-Cash
-32.12%
DSCR

Need ≥ 1.25 for DSCR loan

0.44

NOI (Annual)
$10,160
Price-to-Rent

Lower = better for investors

27.6

* 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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CCashflow−$12,849/mo