248 Orange Ave · Coronado, CA 92118

$2,900,000

5 bd · 5.0 ba · 2,853 sqft · MultiFamily public records · 118 Days on market

Built 1984 3,600 sqft lot $1016/sqft · 14% below area Est $3370k · 14% under

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +13.8/15.0
• Schools +6.2/10.0
• Appreciation +5.7/10.0
• Cash flow +5.5/30.0
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Price Reduced! Motivated Seller. Well located triplex situated on the famed Orange Avenue- Coronado, CA. Improved space is approximately 2900sf. Strong Unit mix consisting of one 3Bed 2Bath townhome (Unit A), one 2Bed 1.5Bath Townhome (Unit B), and One 2Bed 2Bath unit (Unit C). All units are well taken care of with in-unit laundry, private water heaters, FOUR on-site garages plus FOUR on-site parking spaces! The property was built in 1984. Units have ample natural light. Units are accessed off Orange Avenue and in the rear alleyway. Steps from the Bay and all the retail amenities your tenants will need. Lot size is 3,591sf with dimensions of 26ft x 140ft.

Key facts

• 3,600 sq ft lot
• Built 1984
• Listed 117 days

What this means for you Summary

Snapshot

• This is a 3 × 3.0-bed/1.5-bath units multifamily listed at $2.90M.

Deal economics

• At list price, monthly cash flow is $-6k ($-75k/yr) — negative. Per door: $-2k/mo.
• To cash-flow at today's rent, offer at most $1.80M (37.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.50M (48.3% below list).
• Recommended offer: $1.50M (48.3% below list) — sets the bar for 1% rule.
• Cap rate 3.7% vs local median 0.8% in Coronado — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#249 in CA) — a middle-class / working-renter tenant base. Strengths: schools A+, commute A+, employment A+; Watch: cost of living F, health & safety F.
• Coronado Unified (suburban): math 61% / reading 77% proficiency, ranked #47 of 517 in CA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.4%/yr); 159 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 89% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $14,988/mo this rent would consume 134% of the median local household income ($135k/yr) (locally 1052% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $61k of equity ($20k loan paydown + $41k appreciation (1.4% local appreciation)).
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$215k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($2.64M) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $1.57M; list at $2.90M implies a 85% gain — meaningful room to come down on a strong offer.

Recommended offer $1,498,800 (48.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.52% ✗
• Cap rate: 3.72%
• Cash-on-cash: -9.18%
• DSCR: 0.59
• GRM: 16.1

CMA / ARV

• ARV (median comp): $3,369,555
• List price: $2,900,000
• Delta: -13.94%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
756-62 G Ave	0.64mi	5/5.0	2,500 (-12%)	2mo	$3,620,000	$1,448	48
515 Palm Ave	0.29mi	4/2.0 (-1)	2,433 (-15%)	17mo	$2,855,000	$1,173	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.41% appreciation · 4.44% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.68×
• Total profit: $-261,696
• Equity at exit: $1,052,399

10-year hold

• IRR: -0.3%
• Equity multiple: 0.96×
• Total profit: $-30,201
• Equity at exit: $1,448,120

Cash invested: $812,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92118

• Home prices YoY: 0.4%
• Rents YoY: 4.4%
• Active inventory: 159
• Price-to-rent: 48.4×

Monthly cashflow live

• Estimated rent: $14,988 high
• Mortgage (P&I): −$15,208
• Tax from tax record: −$1,636 /mo · $19,627/yr
• Insurance: −$1,208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,147
• Net cashflow: $-6,211

Break-even live

Break-even rent $22,850

Max offer price $1,802,749

Occupancy floor —

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3.0	1.5	$14,988
Total (3 units)			$14,988

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $725,000
• Closing costs: $87,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
237 E Ave Coronado, CA	6.0	3.0	2246	$15,000	$6.68	44d	1	0.10mi
1099 1st St Coronado, CA	2.0–4.0	2.5–4.0	3092	$12,500	$4.04	44d	4	0.20mi
624 1st St Coronado, CA	4.0	3.5	2400	$30,000	$12.50	44d	1	0.31mi
250 Soledad Pl Unit Vacation Rental Coronado, CA	4.0	3.0	2500	$15,000	$6.00	44d	1	0.31mi
170 H Ave Coronado, CA	5.0	4.0	2500	$12,500	$5.00	44d	1	0.36mi
710 E Ave Coronado, CA	4.0	4.5	2344	$20,000	$8.53	3d	1	0.54mi
734 Olive Ave Coronado, CA	4.0	3.5	2400	$8,900	$3.71	44d	1	0.56mi
621 Country Club Ln Coronado, CA	4.0	3.0	2140	$9,000	$4.21	44d	1	0.74mi
1027 Encino Row Coronado, CA	4.0	3.0	2097	$8,750	$4.17	44d	1	0.91mi

Listing history 41 events

1. 2026-06-02
   days on market $2,900,000 Active 118 DOM
2. 2026-06-01
   days on market $2,900,000 Active 117 DOM
3. 2026-05-31
   days on market $2,900,000 Active 116 DOM
4. 2026-03-06
   price $2,900,000 663-char remark

   Show marketing remark (663 chars)

   Price Reduced! Motivated Seller. Well located triplex situated on the famed Orange Avenue- Coronado, CA. Improved space is approximately 2900sf. Strong Unit mix consisting of one 3Bed 2Bath townhome (Unit A), one 2Bed 1.5Bath Townhome (Unit B), and One 2Bed 2Bath unit (Unit C). All units are well taken care of with in-unit laundry, private water heaters, FOUR on-site garages plus FOUR on-site parking spaces! The property was built in 1984. Units have ample natural light. Units are accessed off Orange Avenue and in the rear alleyway. Steps from the Bay and all the retail amenities your tenants will need. Lot size is 3,591sf with dimensions of 26ft x 140ft.

5. 2026-02-05
   listed $3,000,000 Active 663-char remark

   Show marketing remark (663 chars)

   Price Reduced! Motivated Seller. Well located triplex situated on the famed Orange Avenue- Coronado, CA. Improved space is approximately 2900sf. Strong Unit mix consisting of one 3Bed 2Bath townhome (Unit A), one 2Bed 1.5Bath Townhome (Unit B), and One 2Bed 2Bath unit (Unit C). All units are well taken care of with in-unit laundry, private water heaters, FOUR on-site garages plus FOUR on-site parking spaces! The property was built in 1984. Units have ample natural light. Units are accessed off Orange Avenue and in the rear alleyway. Steps from the Bay and all the retail amenities your tenants will need. Lot size is 3,591sf with dimensions of 26ft x 140ft.

6. 2025-06-25
   status Pending Sale
7. 2025-06-24
   historical
8. 2025-06-24
   listed $3,290,000 Active
9. 2025-03-22
   historical
10. 2025-02-24
    status Back On Market
11. 2025-01-28
    historical
12. 2025-01-21
    listed $3,295,000
13. 2025-01-08
    historical
14. 2024-10-31
    price $3,298,999
15. 2024-10-17
    price $3,295,000
16. 2024-10-09
    price $3,225,000
17. 2024-09-29
    price $3,250,000
18. 2024-09-16
    price $3,295,000
19. 2024-09-09
    price $3,490,000
20. 2024-07-19
    listed $3,498,000 Active
21. 2024-07-15
    historical
22. 2019-09-10
    soldstatus $1,567,500 Sold
23. 2019-09-10
    soldstatus $1,567,500
24. 2019-09-10
    soldstatus $1,567,500
25. 2019-07-21
    historical Backup Offers Accepted
26. 2019-07-01
    listed $1,599,000 Active
27. 2019-07-01
    listed $1,599,000
28. 2019-06-16
    historical
29. 2019-06-16
    historical
30. 2019-05-07
    status Active
31. 2019-05-06
    status Active
32. 2019-04-29
    status Pending Sale
33. 2019-04-29
    status Pending
34. 2019-04-17
    listed $1,600,000 Active
35. 2019-04-17
    listed $1,600,000 Active
36. 2019-03-18
    historical
37. 2019-03-18
    historical
38. 2019-02-17
    price $1,600,000
39. 2019-02-17
    price $1,600,000
40. 2019-01-15
    listed $1,700,000 Active
41. 2019-01-15
    listed $1,700,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $19,627 · $1,636/mo
• Projected year-2 tax: $22,040 · $1,837/mo
• Expected delta: +$2,413/yr (+$201/mo · 12.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $179,856
• − Mortgage interest: −$162,445
• − Property taxes: −$19,627
• − Insurance: −$14,500
• − Repairs & maintenance: −$14,388
• − Management: −$14,388
• − Depreciation: −$84,364
• Taxable loss: −$129,856
• Est. tax savings @ 24.0%: +$31,166
• After-tax cash flow: $-43,370/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Coronado Unified
• NCES district ID: 0609870
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 77% ▼ -1.00%
• Median HH income: $91,550
• Composite: 62.45/100
• National rank: #691
• State rank: #47 of 517 in CA

Livability — Coronado

• Score: 69/100
• State rank: #249
• US rank: #8296

Category grades

Amenities A- Commute A+ Cost of living F Crime C Employment A+ Housing C Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coronado, CA
• County: San Diego County · 3,178,799 people
• City population: 18,929
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 18,929
• Household income: $134,534
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 1052.0

Population outlook (San Diego County) Hauer SSP2

• Today (2025): 3,678,185 people
• By 2030: 3,856,546 · +4.8%
• By 2040: 4,171,407 · +13.4%
• By 2050: 4,421,607 · +20.2%
• By 2075: 4,831,599 · +31.4%
• By 2100: 4,832,502 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 19% Two or more races 11% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 3%
• Common ancestry: Italian 4% Lithuanian 4% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 84% English-only · Spanish 12% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · San Diego

• 2024 margin: D (+16.8) · D 56.9% · R 40.1% · Other 2.9%
• 2008→2024 swing: +6.6pp toward D · 2008: 10.2pp · 2024: 16.8pp
• All cycles: 2024: D+16.8 2020: D+22.8 2016: D+17.8 2012: D+5.1 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.41%
• Current HPI: 360.7979
• Rent YoY: ▲ 4.44%
• Metro: San Diego-Chula Vista-Carlsbad, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+70.6% since first listed

38 events — show timeline

• 2026-03-06 Price Changed $2,900,000 SDMLS
• 2026-02-05 Listed $3,000,000 SDMLS
• 2025-06-25 Pending — CRMLS
• 2025-06-24 Listed $3,290,000 CRMLS
• 2025-06-24 Listing Removed — CRMLS
• 2025-03-22 Listing Removed — SDMLS
• 2025-02-24 Relisted — SDMLS
• 2025-01-28 Listing Removed — SDMLS
• 2025-01-21 Listed $3,295,000 SDMLS
• 2025-01-08 Listing Removed — SDMLS
• 2024-10-31 Price Changed $3,298,999 SDMLS
• 2024-10-17 Price Changed $3,295,000 SDMLS
• 2024-10-09 Price Changed $3,225,000 SDMLS
• 2024-09-29 Price Changed $3,250,000 SDMLS
• 2024-09-16 Price Changed $3,295,000 SDMLS
• 2024-09-09 Price Changed $3,490,000 SDMLS
• 2024-07-19 Listed $3,498,000 SDMLS
• 2024-07-15 Coming Soon — SDMLS
• 2019-09-10 Sold (Public Records) $1,567,500 Public Records
• 2019-09-10 Sold (MLS) $1,567,500 SDMLS
• 2019-09-10 Sold (MLS) $1,567,500 TheMLS
• 2019-07-21 Contingent — TheMLS
• 2019-07-01 Listed $1,599,000 SDMLS
• 2019-07-01 Listed $1,599,000 TheMLS
• 2019-06-16 Listing Removed — SDMLS
• 2019-06-16 Listing Removed — CRMLS
• 2019-05-07 Relisted — CRMLS
• 2019-05-06 Relisted — SDMLS
• 2019-04-29 Pending — CRMLS
• 2019-04-29 Pending — SDMLS
• 2019-04-17 Listed $1,600,000 SDMLS
• 2019-04-17 Listed $1,600,000 CRMLS
• 2019-03-18 Listing Removed — SDMLS
• 2019-03-18 Listing Removed — CRMLS
• 2019-02-17 Price Changed $1,600,000 SDMLS
• 2019-02-17 Price Changed $1,600,000 CRMLS
• 2019-01-15 Listed $1,700,000 SDMLS
• 2019-01-15 Listed $1,700,000 CRMLS

Property tax history

+8.7%/yr

Latest (2025): $19,627 · +2.3% YoY. Source: county tax records.