
4938 Kalamis Way
Ctop 80%Oceanside, CA 92056Neighborhood: Ocean Hills
0 licensed short-term rentals within ½ mile (0 whole home), from the cities' license and permit lists of Nov 10, 2026.
Pass at asking: -$5,137/mo full cashflow at 20% down, 7.43% rate.
Works at $291,052 (70% under asking), or at 98% down.
Rent $3,863/mo from 8 leases of 1–3 bed houses within 1 mi, same school area ($3,947–$4,356). Previously leased for $2,950.
Beds
2
Baths
2
Sqft
1,807
Year Built
1988
Days on Market
108
Property Type
Single Family
HOA/mo
$739
MLS ID
NDP2607013
This property is in Oceanside (92056). View neighborhood stats →
About This Property
Popular floor plan in a popular gated community! An opportunity to own a home that's over 1800 sq. feet, with a spacious & sunny front courtyard, in Ocean Hills Country Club, the 55+ paradise in coastal North County. The "Costa Smeralda" has both bedrooms and bathrooms on the main floor. This home has an expanded loft, great for an upstairs office, or for visiting guests. Plus, there's a roomy attic storage area. The side of the property has a southwest orientation, and next door is a 1-story model, so it's well situated to have natural light coming through the living room, kitchen, breakfast nook, and loft window, as well as to have sunshine in the front courtyard (which features an attractive trellis and tile pavers). Private, with vinyl fencing, plus large trees and a slope in back. A/C. Laminate flooring in the living room, dining room, and guest bedroom. Tile flooring in the entry, kitchen and bathrooms. Carpet in the primary bedroom, stairs and loft. Plantation shutters in LR & DR. 2-car garage with space for cabinets. Repiped. Enjoy great facilities, including a resident-only golf course, tennis and pickleball courts, swimming pool and spa, an RV parking lot, community patrols, and a large clubhouse, featuring an auditorium, billiards, exercise rooms, and meeting places for many common interest clubs.
Mortgage Calculator
Est. Monthly Payment
$7,312
Location
Loading map...
Zoned Schools
Elementary
Lake Elementary · grades K-5 · Vista Unified
Middle
Madison Middle · grades 6-8 · Vista Unified
High
Rancho Buena Vista High · grades 9-12 · Vista 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
$3,863
Comp Average
$4,117
2339 Nicklaus Drive
2bd / 2.5ba · 1,619 sqft · Single Family
$949K
Est. $4,016/mo
3745 Scenic Way
3bd / 2.5ba · 1,915 sqft · Single Family
$1.02M
Est. $4,533/mo
2349 Nicklaus Dr
2bd / 2.5ba · 1,721 sqft · Single Family
$999K
Est. $4,106/mo
5065 Santorini Way
2bd / 2ba · 1,800 sqft · Single Family
$1.32M
Est. $3,869/mo
4878 Galicia Way
2bd / 2ba · 1,880 sqft · Single Family
$1.23M
Est. $4,063/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
Previously leased for $2,950
8 leases of 1–3 bed houses within 1 mi, same school area · $3,947–$4,356
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$5,137/mo short at 20% down; 98% down or +$6,671/mo rent closes it.
- Break-even price
- $291,052
- Break-even rent
- $10,534/mo
- Cashflow at 35% down
- −$4,137/mo
- Down payment to break even
- 98%
- Rate to break even
- Not reachable
70% under asking
$6,671/mo above the estimate
$940,702 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.
Open Full Calculator