881 Thomas

881 Thomas

Ctop 80%

San Diego, CA 92109

$850,000
NEW — 0d

Pass at asking: -$3,512/mo full cashflow at 20% down, 7.43% rate.

Works at $392,714 (54% under asking), or at 80% down.

Rent $4,671/mo from 9 leases of 1–3 bed condos & townhomes within 0.5 mi ($4,429–$5,597).

Beds

2

Baths

2

Sqft

1,066

Year Built

1974

Days on Market

0

Property Type

Condo

HOA/mo

$580

MLS ID

260026548SD

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

About This Property

Start the morning with coffee and ocean and bay views from your private balcony, then head two blocks to the sand. This refreshed 2-bedroom, 2-bath condo at 881 Thomas Avenue #26 makes it easy to enjoy Pacific Beach on foot or by bike. Inside, fresh paint, new flooring, and updated fixtures give the home a clean, inviting feel, and in-unit laundry makes beach days a little easier. Set in a small, gated complex, the home includes two underground parking spaces, additional storage, and elevator access. Residents also have access to an exercise room and a community room with a full kitchen for gatherings. Spend the morning surfing or biking the boardwalk, grab lunch along Mission Boulevard, then head to Mission Bay or Crown Point for a paddle or a picnic by the water. In the evening, walk to dinner, explore the neighborhood's nightlife, or come home to catch the sunset from your balcony. With coffee shops, local boutiques, and restaurants close by and convenient access to I-5, this condo makes a day at the beach feel like part of your everyday routine.

Mortgage Calculator

Est. Monthly Payment

$6,400

Principal & Interest$4,722
Property Tax$850
Insurance$248
HOA$580
%($170,000)
%
Loan Term

Location

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Investment Score

35C
Est. Monthly Rent
$4,671

9 leases of 1–3 bed condos & townhomes within 0.5 mi · $4,429–$5,597

Blended 50/50 with the zip's market median ($4,308)

Monthly Cashflow

Rent − PITIA

-$1,729
Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,512

What would make this work?

$3,512/mo short at 20% down; 80% down or +$4,561/mo rent closes it.

Break-even price

54% under asking

$392,714
Break-even rent

$4,561/mo above the estimate

$9,232/mo
Cashflow at 35% down
−$2,626/mo
Down payment to break even

$680,000 cash

80%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$4,722
Cap Rate
2.04%
Cash-on-Cash
-24.79%
DSCR

Need ≥ 1.25 for DSCR loan

0.73

NOI (Annual)
$17,327
Price-to-Rent

Lower = better for investors

15.2

* 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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CCashflow−$3,512/mo