Alternative to Renting? Downtown San Diego Condos under $200,000
Posted on 12. Jul, 2010 by Gonzalo Vidano in Downtown Condo Deals, Real Estate Deals

I been showing lots of rentals over the weekend, for some reason this past week I have seen a big increase in inquiries for downtown rentals for studios and 1 bedrooms below the $1,800 price tag.
I noticed many overpriced condos which is not a surprise considering that many investors that try to rent out these units overpaid for them back in 2004 – 2006 and now somehow they are trying to rent them as close as they can to their mortgage payment. For example a 600 square foot studio in Atria located at 101 market street. They are asking $1,490 per month to rent.
Considering you can buy this or a similar units for $175,000 renting does not make any sense if you are in San Diego to stay. If you can buy it for a lower monthly payment also taking in the benefit of interest tax deduction you would be better of purchasing such a unit. A purchase price of $175,000 at 4.5% fixed rate FHA with just $5,000 down payment would leave you with a monthly payment as follows:
Principal and Interest on Mortgage Loan $861.37
Real Estate Taxes $145.83
Insurance $83
Private Mortgage Insurance (Insurance for buyers with less than 20% down payment) $70.83
HOA Fee $250
Total Monthly Payment $1,411.37
If in a few years you want to move out for whatever reason you can rent out of the unit covering you mortgage payment and extras and keeping the brick as a great investment in America’s finest city.
Here are some listings below the $200,000 range that could potentially provide great alternative for renters or fantastic investment properties to those investors out there that are trying to add on to their current portfolios.
Showing properties
1 - 10 of 10.
See more Downtown less than $200,000.
(all data current as of
5/21/2013)
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$200,000 : 207 5th Ave 1220, San Diego0 beds, 1 full bathHome size: 337 sq ftLot size: 1.21 acYear built: 2007Parking spots: 1Days on market: 21
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$172,200 : 207 5th Ave 811, San Diego0 beds, 1 full bathHome size: 311 sq ftLot size: 1.21 acYear built: 2008Days on market: 35
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$174,300 : 207 5th Ave 1214, San Diego0 beds, 1 full bathHome size: 311 sq ftLot size: 1.21 acYear built: 2008Days on market: 35
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$170,000 : 425 W Beech St 1008, San Diego1 bed, 1 full bathHome size: 672 sq ftLot size: 1.38 acYear built: 2004Parking spots: 1Days on market: 110
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$150,000 : 550 15th St 701, San Diego0 beds, 1 full bathHome size: 726 sq ftLot size: 9,977 sqftYear built: 2006Parking spots: 1Days on market: 141
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$189,000 : 1944 State St 15, San Diego1 bed, 1 full bathHome size: 589 sq ftLot size: 9,017 sqftYear built: 2003Days on market: 161
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$139,000 : 1643 6th Ave 518, San Diego0 beds, 1 full bathHome size: 474 sq ftYear built: 2004Parking spots: 1Days on market: 210
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$175,000 : 207 5th Ave 1133, San Diego0 beds, 1 full bathHome size: 338 sq ftYear built: 2007Days on market: 292
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$175,000 : 207 5th Ave 446, San Diego1 bed, 1 full bathHome size: 390 sq ftYear built: 2008Days on market: 328
-
$187,000 : 1400 Broadway St 1402, San Diego1 bed, 1 full bathHome size: 753 sq ftYear built: 2003Parking spots: 1Days on market: 811
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Tags: san diego condos for sale
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Downtown San Diego Real Estate
San Diego Coastal Real Estate
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-
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3 beds, 3 full bathsHome size: 2,389 sq ftLot size: 3,851 sqftYear built: 1980 -
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3 beds, 3 full, 1 part bathsHome size: 3,145 sq ftLot size: 9,087 sqftYear built: 1980 -
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3 beds, 1 full bathHome size: 996 sq ftLot size: 6,429 sqftYear built: 1945 -
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2 beds, 2 full bathsHome size: 1,344 sq ftYear built: 1973 -
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2 beds, 2 full bathsHome size: 1,604 sq ftYear built: 1978 -
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6 beds, 8 full, 2 part bathsHome size: 10,000 sq ftYear built: 1927 -
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3 beds, 3 full, 1 part bathsHome size: 3,256 sq ftLot size: 35,811 sqftYear built: 2002 -
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3 beds, 3 full, 1 part bathsHome size: 2,865 sq ftLot size: 12,493 sqftYear built: 2007 -
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4 beds, 3 full bathsHome size: 3,095 sq ftLot size: 17,359 sqftYear built: 1921 -
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2 beds, 2 full bathsHome size: 1,673 sq ftYear built: 2005 -
$360,000 - 6333 La Jolla Blvd 362
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1 bed, 1 full bathHome size: 713 sq ftLot size: 1.62 acYear built: 1970
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$1,150,000 - 3925 Via Valle Verde
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4 beds, 2 full, 1 part bathsHome size: 2,333 sq ftLot size: 7,841 sqftYear built: 1975 -
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6 beds, 7 full, 1 part bathsHome size: 6,200 sq ftYear built: 1990 -
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4 beds, 4 full, 1 part bathsHome size: 3,675 sq ftLot size: 18,930 sqftYear built: 2006 -
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3 beds, 3 full bathsHome size: 2,119 sq ftLot size: 2,178 sqftYear built: 1980 -
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7 beds, 8 full, 2 part bathsHome size: 12,409 sq ftLot size: 1.84 acYear built: 1992 -
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3 beds, 4 full, 1 part bathsHome size: 3,098 sq ftLot size: 8.28 acYear built: 1986 -
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3 beds, 3 full, 1 part bathsHome size: 3,867 sq ftLot size: 8,544 sqftYear built: 2003 -
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3 beds, 3 full bathsHome size: 2,243 sq ftLot size: 2,614 sqftYear built: 1989 -
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San Diego
5 beds, 7 full, 2 part bathsHome size: 10,500 sq ftLot size: 39,204 sqftYear built: 2006 -
$4,495,000 - 5451 Calle Chaparro
Rancho Santa Fe
5 beds, 5 full, 1 part bathsHome size: 5,419 sq ftLot size: 2.14 acYear built: 2005 -
$2,595,000 - 16449 La Via Feliz
Rancho Santa Fe
6 beds, 6 full, 1 part bathsHome size: 6,400 sq ftYear built: 1985 -
$1,179,000 - 3823 Avenida Feliz
Rancho Santa Fe
3 beds, 2 full bathsHome size: 1,955 sq ftLot size: 6,970 sqftYear built: 1979 -
$6,995,000 - 5111 El Mirlo
Rancho Santa Fe
6 beds, 6 full, 1 part bathsHome size: 9,500 sq ftLot size: 4.55 acYear built: 2001 -
$6,495,000 - 6007 Lago Lindo
Rancho Santa Fe
5 beds, 4 full, 1 part bathsHome size: 8,200 sq ftLot size: 2.10 acYear built: 1989 -
$4,850,000 - 7102 Via Del Charro
Rancho Santa Fe
5 beds, 6 full, 2 part bathsHome size: 8,051 sq ftYear built: 1985 -
$3,495,000 - 18620 Via Catania
Rancho Santa Fe
4 beds, 4 full, 1 part bathsHome size: 4,374 sq ftYear built: 2005 -
$3,495,000 - 7152 Rancho La Cima
Rancho Santa Fe
4 beds, 4 full, 1 part bathsHome size: 7,206 sq ftLot size: 2.05 acYear built: 1995 -
$3,450,000 - 642 FLORES DE ORO
Rancho Santa Fe
4 beds, 4 full, 1 part bathsHome size: 6,638 sq ftLot size: 5.41 acYear built: 2002 -
$3,250,000 - 5802 Lago Lindo
Rancho Santa Fe
4 beds, 3 full, 1 part bathsHome size: 6,781 sq ftLot size: 2.08 acYear built: 1956 -
$3,200,000 - 17601 Los Morros
Rancho Santa Fe
4 beds, 4 full, 1 part bathsHome size: 5,771 sq ftLot size: 3.00 acYear built: 1966 -
$2,295,000 - 4452 La Orilla
Rancho Santa Fe
4 beds, 5 full bathsHome size: 3,543 sq ftLot size: 2.12 acYear built: 1977 -
$995,000 - 6161 Paseo Delicias
Rancho Santa Fe
2 beds, 2 full bathsHome size: 1,738 sq ftLot size: 1.13 acYear built: 1975 -
$2,250,000 - 6893 Calle Portone
Rancho Santa Fe
3 beds, 3 full, 1 part bathsHome size: 3,104 sq ftLot size: 9,070 sqftYear built: 2003 -
$1,419,000 - 13945 Calle Cardenas
San Diego
4 beds, 3 full bathsHome size: 3,028 sq ftLot size: 25,700 sqftYear built: 1989 -
$1,399,000 - 8129 Santaluz Village Green S
San Diego
2 beds, 2 full, 1 part bathsHome size: 2,924 sq ftLot size: 7,202 sqftYear built: 2003



