615 Fredricks #151
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615 Fredricks #151

Atop 10%

Oceanside, CA 92058Neighborhood: San Luis Rey

$350,000
STR closed · inland Oceanside

2 licensed short-term rentals within ½ mile (2 whole home), from the cities' license and permit lists of Nov 13, 2026.

Pass at asking: -$1,383/mo full cashflow at 20% down, 7.36% rate.

Works at $169,003 (52% under asking), or at 78% down.

Rent $2,510/mo from 2 leases in this building ($2,399–$2,400). Previously leased for $1,900.

Beds

2

Baths

2

Sqft

987

Year Built

1978

Days on Market

182

Property Type

Condo

HOA/mo

$641.43

MLS ID

ND26085757

This property is in Oceanside (92058). Browse neighborhood analytics →

Virtual Tour

About This Property

A STRAIGHT SHOT TO OCEANSIDE BEACHES, HARBOR AND CAMP PENDLETON’S MAIN GATE, THIS CONDO IS READY TO BE SOLD. RECENTLY PAINTED THRU OUT. THE UNIT, 151, IS A FIRST FLOOR UNIT AND HAS 2 BEDROOMS W/TWO FULL BATHS W/SHOWER IN THE BATHTUB. THE CONDO IS 987 FEET W/SPACIOUS BEDROOMS WITH ONE BEING 18 X 14 AND THE 2ND BEDROOM 13 X 11. THE KITCHEN HAS ELECTRIC STOVE, DISHWASHER, REFRIGERATOR, MICROWAVE WITH GRANITE COUNTERTOPS AND STAINLESS STEEL APPLIANCES. THE KITCHEN HAS AN ISLAND FOR EITHER SITTING AT FOR EATING, WORKING ON MEAL PREP OR A PROJECT THAT REQUIRES EXTRA SPACE. A NICE FEATURE IS THE SLIDING GLASS DOOR THAT EXITS FROM THE LIVING AREA INTO A NICELY FENCED BACK PATIO THAT IS FULLY ENCLOSED W/ CONCRETE FLOOR. FOR PARKING THERE IS A CARPORT W/A STORAGE CUPBOARD AT THE FRONT OF THE CARPORT. THERE ARE 2 PARKING SPOTS OF WHICH ONE INCLUDES THE CARPORT. THE COMPLEX AMENITIES ARE A POOL, BBQ AREA, ON SITE LAUNDRY AND THE WATER, TRASH, & SEWER ARE COVERED BY YOUR HOA FEES. THE LOCAL SCHOOLS ARE CLOSE BY; A MAJORITY ARE WITHIN 2 MILES OR LESS AND THE HIGH SCHOOL IS A BIT OVER 3 MILES FROM THIS HOME. LOCAL SHOPPING & EATERIES ARE JUST AROUND THE CORNER; LESS THAN ONE MILE FROM THE HOME. THIS HOME IS A GREAT LOCATION FOR COMMUTERS AS IT IS CLOSE TO 3 MAJOR HIGHWAYS.

Mortgage Calculator

Est. Monthly Payment

$3,025

Principal & Interest$1,931
Property Tax$350
Insurance$102
HOA$641
%($70,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Louise Foussat Elementary · grades K-5 · Oceanside Unified

  • Middle

    Jefferson Middle · grades 6-8 · Oceanside Unified

  • High

    Oceanside High · grades 9-12 · Oceanside 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. Outside Oceanside's Coastal Zone: inland short-term rentals are banned. See the rules

Investment Score

60A
Est. Monthly Rent
$2,510

Previously leased for $1,900

2 leases in this building · $2,399–$2,400

Thin data: only 2 leases behind this number.

Monthly Cashflow

Rent − PITIA

-$514
Full Cashflow

Incl. vacancy, PM, maint, capex

-$1,383

What would make this work?

$1,383/mo short at 20% down; 78% down or +$1,797/mo rent closes it.

Break-even price

52% under asking

$169,003
Break-even rent

$1,797/mo above the estimate

$4,307/mo
Cashflow at 35% down
−$1,021/mo
Down payment to break even

$273,000 cash

78%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$1,931
Cap Rate
2.31%
Cash-on-Cash
-23.72%
DSCR

Need ≥ 1.25 for DSCR loan

0.83

NOI (Annual)
$8,077
Price-to-Rent

Lower = better for investors

11.6

* 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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ACashflow−$1,383/mo