
837 Island Ct 3
Dbottom 20%San Diego, CA 92109
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.
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Est. Monthly Payment
$8,895
Location
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Comparable Properties
5 comps foundThis Property
$3,502
Comp Average
$3,883
3833 Lamont St
2bd / 2ba · 944 sqft · Condo
$795K
Est. $3,818/mo
1235 Parker Pl
2bd / 2ba · 875 sqft · Condo
$1.05M
Est. $3,900/mo
711 Island Ct
2bd / 2ba · 884 sqft · Condo
$1.27M
Est. $3,627/mo
4013 Crown Point
2bd / 2ba · 913 sqft · Condo
$1.10M
Est. $3,989/mo
3243 Ocean Front Walk
2bd / 2ba · 972 sqft · Condo
$1.30M
Est. $4,079/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
24 leases of 2-bed condos & townhomes within 2 mi · $3,020–$4,594
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$7,240/mo short at 20% down; +$9,403/mo rent closes it.
- Break-even price
- $307,297
- Break-even rent
- $12,905/mo
- Cashflow at 35% down
- −$5,938/mo
- Down payment to break even
- Not reachable
- Rate to break even
- Not reachable
75% under asking
$9,403/mo above the estimate
Negative even all-cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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