850 State St. 318
Ctop 80%San Diego, CA 92101
Pass at asking: -$4,036/mo full cashflow at 20% down, 7.43% rate.
Works at $228,415 (70% under asking), or at 98% down.
Rent $3,510/mo from 3 leases in this building ($3,472–$3,861).
Beds
2
Baths
2
Sqft
1,282
Year Built
1985
Days on Market
1
Property Type
Condo
HOA/mo
$948
MLS ID
PTP2608306
This property is in San Diego (92101). View neighborhood stats →
About This Property
Ideally situated in the Marina District, Marina Park was built as a planned low-density community right next to the historic Pantoja Park, with a sense of tranquility and ease throughout the complex. Fountains, water features, lush landscaping and wide pathways create the sense of a peaceful oasis. The unit we have for offer is in an ideal location within the complex. Bright and open, this two bedroom/two bath home, offers two private suites with full baths. Both suites have views of the skyline with large floor to ceiling windows on one side, and glass door patio access on the other. The living room and dining room are also open to the patio with pool, courtyard and horizon views. Additional features comprise of a gas fireplace, a counter bar to the kitchen, hardwood floors throughout, and a newer furnace make for a and an open and inviting space living space. Some of the many complex amenities include: two pools with jacuzzi, gym, sauna, library, 24-hour security, dedicated mail room, lobby lounge and an additional courtyard lounge area. For parking, the unit has two side by side parking spots, community EV charging, and abundant guest parking. (36 spots) Walk to Ralphs, Whole Foods, Little Italy, the Gaslamp, and Sea Port Village, as well as a host of first-tier restaurants and shops. The Marina District, and especially the Marina Park complex, are in an absolutely fantastic neighborhood that offers convenience, lifestyle, and immediate access to some of the best attractions in San Diego.
Mortgage Calculator
Est. Monthly Payment
$6,111
Comparable Properties
5 comps foundThis Property
$3,510
Comp Average
$4,136
San Diego
2bd / 2ba · 1,282 sqft · Condo
$750K
Est. $4,731/mo
645 Front Street
2bd / 2ba · 1,259 sqft · Condo
$800K
Est. $4,962/mo
850 State
2bd / 2ba · 1,282 sqft · Condo
$689K
Est. $3,510/mo
1750 Kettner Blvd
2bd / 2.5ba · 1,270 sqft · Condo
$845K
Est. $3,975/mo
850 State Street
2bd / 2ba · 1,275 sqft · Condo
$875K
Est. $3,500/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
3 leases in this building · $3,472–$3,861
Thin data: only 3 leases behind this number.
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$4,036/mo short at 20% down; 98% down or +$5,242/mo rent closes it.
- Break-even price
- $228,415
- Break-even rent
- $8,752/mo
- Cashflow at 35% down
- −$3,251/mo
- Down payment to break even
- 98%
- Rate to break even
- Not reachable
70% under asking
$5,242/mo above the estimate
$738,920 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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