501 1st St
1 / 20

501 1st St

Dbottom 20%

Coronado, CA 92118

$28,900,000

Pass at asking: -$212,039/mo full cashflow at 20% down, 7.43% rate.

Works at $1,292,171 (96% under asking); even all cash loses money at asking.

Rent $12,889/mo from 16 leases of houses within 1 mi, same school area, size-adjusted ($11,974–$14,978).

Beds

5

Baths

5.5

Sqft

6,798

Year Built

2009

Days on Market

63

Property Type

Single Family

HOA/mo

N/A

MLS ID

260022064SD

This property is in Coronado (92118). Browse neighborhood analytics →

Virtual Tour

About This Property

Step through the custom glass front door, etched with the San Diego skyline, and immediately take in breathtaking views of the skyline and beautiful blue waters of San Diego Bay. This sweeping panorama is enjoyed from nearly every room of this extraordinary luxury residence. The main level offers sophisticated open living with 22-foot ceilings, a dramatic dual-sided fireplace and gourmet kitchen with a 14-person dining table positioned to capture the spectacular views. A 21-foot glass folding door opens to the expansive bayside patio, creating seamless indoor-outdoor living. The patio features a large fire pit, built-in barbecue and generous seating. A view sitting room, library and guest bedroom complete this level. The gourmet kitchen features double Viking refrigerators, Viking oven, ice maker and a Viking freezer in the serving pantry. Toe-kicks connected to central vacuum system provide effortless cleanup of slate floor. The second floor features a luxurious primary suite with fireplace, private bayside balcony and fire pit, plus an elevated bath showcasing spectacular bay views. The suite includes a large walk-in closet with washer/dryer. Two additional guest suites include one with a private bayside patio. All five bedrooms have their own full bathrooms. The lower level includes a large laundry room with one washer and two dryers, family living area, bedroom, huge-screen media room with built-in refrigerator, wet bar, wine cellar and sitting area. The five-car garage includes a boat and jet ski lift, to launch into the Bay, workshop and storage. See Supplement. The rooftop deck is an exceptional private retreat with a 180 degree view of the San Diego skyline and bay, perfect for viewing fireworks, bay activities, etc. Access is easy with the elevator that goes from basement to rooftop. Relax in the bay view hot tub or by the large seating area with another fire pit. This rare, once in a lifetime property is certainly one of the premier and unparalleled waterfront residences in Coronado.

Mortgage Calculator

Est. Monthly Payment

$197,881

Principal & Interest$160,552
Property Tax$28,900
Insurance$8,429
%($5,780,000)
%
Loan Term

Location

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Zoned Schools

  • Middle

    Coronado Middle · grades 6-8 · Coronado Unified

  • High

    Coronado High · grades 9-12 · Coronado Unified

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

Short-term not available here. Coronado bans stays of 25 days or less in residential zones. See the rules

Investment Score

0D
Est. Monthly Rent
$12,889

16 leases of houses within 1 mi, same school area, size-adjusted · $11,974–$14,978

Monthly Cashflow

Rent − PITIA

-$184,992
Full Cashflow

Incl. vacancy, PM, maint, capex

-$212,039

What would make this work?

$212,039/mo short at 20% down; +$275,376/mo rent closes it.

Break-even price

96% under asking

$1,292,171
Break-even rent

$275,376/mo above the estimate

$288,265/mo
Cashflow at 35% down
−$181,936/mo
Down payment to break even

Negative even all-cash

Not reachable
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$160,552
Cap Rate
-2.11%
Cash-on-Cash
-44.02%
DSCR

Need ≥ 1.25 for DSCR loan

0.07

NOI (Annual)
-$610,120
Price-to-Rent

Lower = better for investors

186.9

* 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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DCashflow−$212,039/mo