Downtown San Diego 92101: Cap Rate, GRM & Cashflow
92101 · San Diego · Updated
Downtown San Diego: the urban core including the Gaslamp Quarter, East Village, Little Italy, and the Marina District, mostly high-rise and mid-rise condos.
Active Listings
323
Median Price
$699K
Avg Rent
$4,190/mo
Avg Cashflow
-$3,623/mo
Avg Cap Rate
0.8%
Avg CoC
-30.7%
GRM (P/R Ratio)
19.5
Cashflow+ %
1%
Price Range
Highlights
- ✓Gaslamp Quarter nightlife and dining
- ✓Little Italy is one of the most walkable neighborhoods in SD
- ✓Petco Park, Convention Center, and the waterfront
- ✓Trolley and bus hub with the most transit lines in the county
By the numbers
From today's 323 active listings; default assumptions: 20% down, 7.43% rate, 30yr.
- ◈Median asking price $699,000 (323 listings), 27% below the San Diego market median of $960,000 (4,197 listings).
- ◈Median asking price by type: houses $2,224,450 (8 listings); condos and townhomes $693,500 (314 listings).
- ◈Median $678 per square foot (323 listings with square footage), 7% above the San Diego market's $635.
- ◈Among the 314 listings with HOA dues, the median is $935/mo, 98% above the San Diego market's $472/mo.
- ◈Median year built 2004 across 323 listings: 6% built before 1980, 80% in 2000 or later (the San Diego market: median 1987, 37% before 1980, 34% in 2000 or later).
- ◈Of 323 active listings, 1 (0%) are 2 to 4 unit buildings and 314 (97%) are condos or townhomes (the San Diego market: 2% and 46%).
- ◈None of the 323 listings shows positive full cashflow at the default assumptions, and none of the 4,197 listings across the San Diego market.
- ◈Median estimated rent $3,592/mo (323 listings), 16% below the San Diego market's $4,285/mo.
- ◈Closed 3-bedroom leases in the last 12 months: median $5,900/mo (11 leases), vs $4,295/mo across San Diego County (1,241 leases).
Demographics
Vibe
Urban core, young professional
Top Employers
Qualcomm, Navy, hospitality, finance, biotech
Top 5 Listings by Score
| Address | Score | Price | Est. Rent | CF/mo |
|---|---|---|---|---|
| 550 15th Street #205 2bd / 2ba · 970 sqft | A 76 | $399K | $3,508 | +$160 |
| 777 6th Avenue #404 1bd / 1ba · 656 sqft | A 74 | $279K | $2,188 | -$172 |
| 575 6th Avenue #216 Studio / 1ba · 674 sqft | A 72 | $539K | $4,782 | +$215 |
| 1150 J Street #204 1bd / 1ba · 966 sqft | A 69 | $399K | $2,988 | -$333 |
| 700 E Street #104 2bd / 2ba · 1,194 sqft | A 69 | $575K | $5,950 | +$267 |
92101 cap rate and rent multiplier: common questions
- What is the cap rate in 92101 (Downtown San Diego)?
- Across 323 active listings in 92101 as of November 9, 2026, at our default assumptions (20% down, 7.43% rate, 30yr), the median modeled cap rate is 0.9% and the average is 0.8%. These are estimates built from rent estimates and standard operating expenses, not a measured market cap rate. Net operating income deducts 8% vacancy, 10% management, tax, insurance, HOA and 1% of price a year for upkeep (the CapEx reserve is not deducted), so it runs conservative, most of all on expensive homes.
- What is the gross rent multiplier in 92101?
- The average active listing in 92101 is priced at 19.5 times its estimated annual rent (average price $981,662, average estimated rent $4,190 a month as of November 9, 2026). That ratio is the gross rent multiplier, also called the price-to-rent ratio.
- Do rental properties in 92101 cash flow?
- 3 of 323 active listings in 92101 show non-negative monthly cashflow at our default assumptions (20% down, 7.43% rate, 30yr); the average is -$3,623 a month as of November 9, 2026. Cashflow depends on your own down payment, rate and expenses.
Comparing areas? See the San Diego real estate investing guide for county medians, DSCR and short-term rental rules.
Stats are computed from today's active listings. Default assumptions: 20% down, 7.43% rate, 30yr. Rents are estimated from closed MLS leases of comparable homes nearby.