837 Island Ct 3

837 Island Ct 3

Dbottom 20%

San Diego, CA 92109

$1,250,000

Pass at asking: -$7,240/mo full cashflow at 20% down, 7.43% rate.

Works at $307,297 (75% under asking); even all cash loses money at asking.

Rent $3,502/mo from 24 leases of 2-bed condos & townhomes within 2 mi ($3,020–$4,594).

Beds

2

Baths

2

Sqft

855

Year Built

1972

Days on Market

—

Property Type

Condo

HOA/mo

$336

MLS ID

260026676SD

This property is in San Diego (92109). View neighborhood stats →

About This Property

In the heart of Mission Beach, this 2 bed 2 bath condo sits just half a block from Mission Bay and one block from Belmont Park. A short walk to restaurants, entertainment, surf breaks and sunset views. Recent interior updates include a refrigerator and dishwasher installed in 2026, updated plumbing fixtures and connections, and recently installed ceiling fans. The condo also features a new front door, and the building's water heater was replaced approximately one year ago. Both bedrooms are located on the top floor. Covered off street carport parking also makes it highly desirable. Fishing, sailing, boating and bike rentals and public transit are within walking distance. Additional public parking is available on the other side of the Bahia, with overnight parking subject to posted rules. An option for owner-occupants and investors alike, the condo can be sold furnished or unfurnished.

Mortgage Calculator

Est. Monthly Payment

$8,895

Principal & Interest$6,944
Property Tax$1,250
Insurance$365
HOA$336
%($250,000)
%
Loan Term

Location

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Investment Score

0D
Est. Monthly Rent
$3,502

24 leases of 2-bed condos & townhomes within 2 mi · $3,020–$4,594

Monthly Cashflow

Rent − PITIA

-$5,393
Full Cashflow

Incl. vacancy, PM, maint, capex

-$7,240

What would make this work?

$7,240/mo short at 20% down; +$9,403/mo rent closes it.

Break-even price

75% under asking

$307,297
Break-even rent

$9,403/mo above the estimate

$12,905/mo
Cashflow at 35% down
−$5,938/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)
$6,944
Cap Rate
-0.12%
Cash-on-Cash
-34.75%
DSCR

Need ≥ 1.25 for DSCR loan

0.39

NOI (Annual)
-$1,452
Price-to-Rent

Lower = better for investors

29.7

* 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−$7,240/mo