5075 Narragansett Avenue #206
Ctop 80%San Diego, CA 92107
273 licensed short-term rentals within ½ mile (244 whole home), from the cities' license and permit lists of Nov 13, 2026.
No unit in this 23-unit complex holds a short-term rental license, so nothing shows its HOA allows them. Get the CC&Rs before counting on short-term income.
Pass at asking: -$5,258/mo full cashflow at 20% down, 7.36% rate.
Works at $276,941 (71% under asking), or at all cash.
Rent $3,411/mo from 8 leases of 1–3 bed condos & townhomes within 1 mi, same school area ($2,994–$4,212).
Beds
2
Baths
1.5
Sqft
850
Year Built
1980
Days on Market
46
Property Type
Condo
HOA/mo
$509.8
MLS ID
260023556SD
This property is in San Diego (92107). View neighborhood stats →
About This Property
Coastal living beautifully updated 2nd floor 2-bedroom, 1.5-bath residence just a half block from the beach in the heart of Ocean Beach which includes a Bonus two car tandem parking space with 3x built-in storage cabinets, plus a private storage room deeded to unit 206 (approximately 4’ x 20’) located adjacent to the parking spaces. *** SELLER WILL PAY HOA FEES FOR THE FIRST 12 MONTHS AFTER CLOSE*** Added value for this property is the private deeded storage spaced which is adjacent to the two car tandem parking space #4. NOTE: Seller is a Licensed CA RE Broker.
Mortgage Calculator
Est. Monthly Payment
$7,080
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.
Comparable Properties
5 comps foundThis Property
$3,411
Comp Average
$3,516
2258 Caminito Pescado
2bd / 2.5ba · 1,074 sqft · Condo
$739K
Est. $3,575/mo
4909 Orchard Avenue
2bd / 2ba · 953 sqft · Condo
$995K
Est. $4,495/mo
5130 Long Branch Avenue
2bd / 1ba · 759 sqft · Condo
$1.10M
Est. $2,883/mo
4878 Pescadero
1bd / 1ba · 700 sqft · Condo
$899K
Est. $2,683/mo
4878 Pescadero
2bd / 2ba · 1,078 sqft · Condo
$1.09M
Est. $3,943/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
8 leases of 1–3 bed condos & townhomes within 1 mi, same school area · $2,994–$4,212
Blended 50/50 with a property-level estimate
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$5,258/mo short at 20% down; 100% down or +$6,828/mo rent closes it.
- Break-even price
- $276,941
- Break-even rent
- $10,239/mo
- Cashflow at 35% down
- −$4,259/mo
- Down payment to break even
- 100%
- Rate to break even
- Not reachable
71% under asking
$6,828/mo above the estimate
$965,000 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.36% 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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