5604 Taos Way · San Diego, CA 92154

$705,900

3 bd · 3.5 ba · 1,974 sqft · Townhouse · 76 Days on market

Built 2026 Excellent condition 2-car garage $358/sqft · 36% below area Est $1.105M · 36% 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 +15.0/15.0
• Cash flow +8.3/30.0
• Condition / age +4.8/5.0
• Livability +3.8/5.0
• 1% rule +2.6/10.0
• Rent growth +2.4/5.0
• DSCR +2.2/10.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This new three-story paired home exudes modern flexibility with a private bedroom on the first floor, ready to meet the unique needs of the homeowner. The second level is host to a generous open plan shared between the kitchen, living and dining spaces with direct access to an outdoor deck. Two additional bedrooms and a comfortable owner's suite, featuring a full bathroom and walk-in closet, offer private retreats on the third floor.

Key facts

• Private bedroom
• Full bathroom
• Walk-in closet

Tags

• PRIVATE BEDROOM
• OPEN PLAN
• OUTDOOR DECK
• OWNER'S SUITE
• FULL BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath townhouse listed at $706k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-649 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $612k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $535k (24.2% below list).
• Recommended offer: $535k (24.2% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.0% in San Diego — 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 75/100 on livability (#123 in CA, #4,206 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, crime D+, cost of living F.
• San Diego Unified (urban): math 19% / reading 29% proficiency, ranked #393 of 517 in CA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cadman Elementary (176 students, 51% FRL); Marston Middle (594 students, 41% FRL); Clairemont High (835 students, 49% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents soft (-0.5%/yr); 265 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 54d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $5,354/mo this rent would consume 68% of the median local household income ($95k/yr) (locally 19% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($664k) is reasonable based on typical stale-listing flexibility.

Recommended offer $535,382 (24.2% 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 76 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 5.19%
• Cash-on-cash: -3.94%
• DSCR: 0.82
• GRM: 11.0

CMA / ARV

• ARV (median comp): $1,104,900
• List price: $705,900
• Delta: -36.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3040 Caminito Arenoso	0.46mi	3/2.0	1,597 (-19%)	7mo	$1,245,000	$780	41
4961 Pacifica Dr	0.94mi	4/2.0 (+1)	1,920 (-3%)	14mo	$2,610,000	$1,359	37
3756 Balboa Ter Unit B	0.90mi	3/2.5	1,600 (-19%)	1mo	$872,500	$545	35
3793 Balboa Ter Unit A	0.77mi	3/2.0	1,659 (-16%)	2mo	$940,000	$567	33
3766 Balboa Ter Unit F	0.82mi	3/2.0	1,659 (-16%)	13mo	$959,000	$578	23
3762 Balboa Terrace Unit B Ter	0.90mi	3/2.0	1,580 (-20%)	14mo	$815,000	$516	22

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -26.3%
• Equity multiple: 0.13×
• Total profit: $-171,318
• Equity at exit: $105,252

10-year hold

• IRR: -37.6%
• Equity multiple: -0.33×
• Total profit: $-262,697
• Equity at exit: $61,033

Cash invested: $197,652 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 2 active · 2 under contract
• Months of supply: 3.0 mo (33%/mo absorbed)
• Median asking: $775,900 ($452/sqft)
• Median days on market: 47 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +23.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 92154

• Rents YoY: -0.5%
• Active inventory: 265
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $5,354 high
• Mortgage (P&I): −$3,702
• Tax est. 1.5%: −$882 /mo · $10,588/yr
• Insurance: −$294
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,124
• Net cashflow: $-649

Break-even live

Break-even rent $6,175

Max offer price $612,018

Occupancy floor —

Sensitivity live

Price	-10% $-161	-5% $-405	+0% $-649	+5% $-893	+10% $-1,137
Rent	-10% $-1,072	-5% $-860	+0% $-649	+5% $-437	+10% $-226
Rate	-1.0pp $-293	-0.5pp $-469	base $-649	+0.5pp $-832	+1.0pp $-1,018

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: $176,475
• Closing costs: $21,177
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4434 La Crosse Ave San Diego, CA	3.0	1.5	1440	$4,695	$3.26	21d	1	0.17mi
4219 Avati Dr San Diego, CA	4.0	2.5	2016	$5,795	$2.87	73d	1	0.33mi
4443 Caminito Pedernal San Diego, CA	3.0	2.0	1597	$4,650	$2.91	11d	1	0.37mi
3081 Nute Way San Diego, CA	3.0	2.0	1670	$8,900	$5.33	73d	1	0.42mi
4489 Bertha St San Diego, CA	3.0	2.0	1478	$10,900	$7.37	63d	1	0.68mi
4361 Rolfe Rd San Diego, CA	4.0	3.0	2100	$4,999	$2.38	47d	1	0.76mi
4542 Hidalgo Ave San Diego, CA	3.0	2.0	1292	$3,995	$3.09	71d	1	0.81mi
4164 Mount Herbert Ave San Diego, CA	4.0	2.0	1426	$5,200	$3.65	17d	1	0.94mi
2655 Loring St San Diego, CA	3.0	2.0	1920	$6,500	$3.39	54d	1	0.94mi
4379 Mount Henry Ave San Diego, CA	4.0	2.0	1235	$4,000	$3.24	73d	1	1.02mi
4062 Conrad Ave San Diego, CA	4.0	3.0	1650	$5,600	$3.39	54d	1	1.05mi
4666 Monongahela St San Diego, CA	3.0	2.0	1432	$4,350	$3.04	18d	1	1.09mi
4472 Mount Herbert Ave San Diego, CA	4.0	2.0	1949	$1,795	$0.92	19d	1	1.13mi
3539 Mount Laurence Dr San Diego, CA	4.0	3.0	2296	$7,500	$3.27	64d	1	1.15mi
2726 Tonto Way San Diego, CA	4.0	2.0	1860	$5,750	$3.09	22d	1	1.20mi
4786 Monongahela St San Diego, CA	4.0	2.0	1345	$8,500	$6.32	73d	1	1.21mi
2369 Loring St San Diego, CA	3.0	2.0	1350	$6,499	$4.81	67d	1	1.25mi
3620 Paul Jones Ave San Diego, CA	4.0	2.0	1715	$5,600	$3.27	11d	1	1.26mi
2229 Caminito Preciosa Sur La Jolla, CA	3.0	2.0	2080	$6,500	$3.12	73d	1	1.27mi
2229 Caminito Preciosa Sur La Jolla, CA	3.0	2.0	2080	$5,950	$2.86	40d	1	1.27mi
5681 Desert View Dr La Jolla, CA	3.0	3.0	1500	$5,000	$3.33	36d	1	1.28mi
4727 Mount Longs Dr San Diego, CA	4.0	2.0	1428	$4,995	$3.50	67d	1	1.35mi
6063 Oakgate Row La Jolla, CA	3.0	2.0	2518	$7,350	$2.92	25d	1	1.41mi
2143 Caminito San Martin La Jolla, CA	3.0	3.0	1954	$7,495	$3.84	25d	1	1.45mi
5022 Rebel Rd San Diego, CA	3.0	2.0	1920	$4,700	$2.45	57d	1	1.45mi
2710 Carriagedale Row La Jolla, CA	4.0	3.5	2350	$7,500	$3.19	73d	1	1.46mi

Property features AI

Finance

• Other: Listing status: ActiveInventory type: Spec
• Financial info: List price $731,900

Exterior

• Parking: 2-car garage2 total parking spaces
• Home design: Single-family property (Rosa 4 plan)
• Exterior features: Living area approximately 1,974Address: 5604 Taos Way, San Diego, CA 92154

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 3 full bathrooms1 half bathroom
• Interior features: Spec home (Rosa 4 plan)

Listing history 43 events

1. 2026-07-30
   days on market $705,900 Active 76 DOM
2. 2026-07-28
   days on market $705,900 Active 75 DOM
3. 2026-07-24
   days on market $705,900 Active 71 DOM
4. 2026-07-23
   days on market $705,900 Active 70 DOM
5. 2026-07-22
   days on market $705,900 Active 69 DOM
6. 2026-07-21
   days on market $705,900 Active 68 DOM
7. 2026-07-20
   days on market $705,900 Active 67 DOM
8. 2026-07-18
   days on market $705,900 Active 65 DOM
9. 2026-07-16
   days on market $705,900 Active 63 DOM
10. 2026-07-15
    pricedays on market $705,900 Active 62 DOM
11. 2026-07-14
    days on market $713,900 Active 61 DOM
12. 2026-07-13
    days on market $713,900 Active 60 DOM
13. 2026-07-13
    days on market $713,900 Active 59 DOM
14. 2026-07-11
    days on market $713,900 Active 58 DOM
15. 2026-07-10
    days on market $713,900 Active 57 DOM
16. 2026-07-09
    days on market $713,900 Active 56 DOM
17. 2026-07-07
    days on market $713,900 Active 54 DOM
18. 2026-07-06
    days on market $713,900 Active 53 DOM
19. 2026-07-06
    days on market $713,900 Active 52 DOM
20. 2026-07-05
    days on market $713,900 Active 51 DOM
21. 2026-07-03
    days on market $713,900 Active 50 DOM
22. 2026-07-02
    days on market $713,900 Active 49 DOM
23. 2026-07-01
    days on market $713,900 Active 48 DOM
24. 2026-06-30
    days on market $713,900 Active 47 DOM
25. 2026-06-29
    days on market $713,900 Active 46 DOM
26. 2026-06-28
    days on market $713,900 Active 45 DOM
27. 2026-06-27
    days on market $713,900 Active 44 DOM
28. 2026-06-26
    days on market $713,900 Active 43 DOM
29. 2026-06-24
    days on market $713,900 Active 41 DOM
30. 2026-06-22
    days on market $713,900 Active 39 DOM
31. 2026-06-21
    days on market $713,900 Active 38 DOM
32. 2026-06-18
    days on market $713,900 Active 35 DOM
33. 2026-06-17
    days on market $713,900 Active 34 DOM
34. 2026-06-16
    days on market $713,900 Active 33 DOM
35. 2026-06-15
    days on market $713,900 Active 32 DOM
36. 2026-06-13
    days on market $713,900 Active 30 DOM
37. 2026-06-09
    days on market $713,900 Active 26 DOM
38. 2026-06-08
    days on market $713,900 Active 25 DOM
39. 2026-06-07
    days on market $713,900 Active 24 DOM
40. 2026-06-04
    days on market $713,900 Active 21 DOM
41. 2026-06-03
    pricedays on market $713,900 Active 20 DOM
42. 2026-06-01
    days on market $731,900 Active 18 DOM
43. 2026-05-31
    days on market $731,900 Active 17 DOM

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

Taxation est. · year 1

• Rental income: $64,246
• − Mortgage interest: −$39,541
• − Property taxes: −$10,588
• − Insurance: −$3,530
• − Repairs & maintenance: −$5,140
• − Management: −$5,140
• − Depreciation: −$20,535
• Taxable loss: −$20,228
• Est. tax savings @ 24.0%: +$4,855
• After-tax cash flow: $-2,931/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This modern three-story townhouse is in excellent condition with no visible repairs needed. It offers a spacious and well-designed interior with a good curb appeal, making it an attractive investment for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Updating the kitchen appliances — Modern appliances can improve functionality and appeal ↑
• Both Adding smart home features — Smart home features can increase convenience and marketability ↑

Zoned Schools

Elementary Cadman Elementary Middle Marston Middle High Clairemont High

Schools (NCES district)

• District: San Diego Unified
• NCES district ID: 0634320
• Math proficiency: 19% ▼ -29.00%
• Reading proficiency: 29% ▼ -28.00%
• Median HH income: $61,673
• Composite: 22.31/100
• National rank: #8135
• State rank: #393 of 517 in CA

B Composite livability gradescore 75/100

Livability — San Diego

• Score: 75/100
• State rank: #123
• US rank: #4206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Diego, CA
• County: San Diego County · 3,678,185 people
• City population: 1,397,612
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 80,445
• Household income: $94,901
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 19% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 30% White 12% Asian 12% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 65%
• Foreign-born: 32% · Canada, China
• Languages at home: 35% English-only · Spanish 56% Tagalog/Filipino 7% Chinese 1%

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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: ▼ -568.62%
• Current HPI: 393.1836
• Rent YoY: ▼ -0.52%
• Metro: San Diego-Chula Vista-Carlsbad, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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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

Property features AI

Finance

• Other: Listing status: ActiveInventory type: Spec
• Financial info: List price $731,900

Exterior

• Parking: 2-car garage2 total parking spaces
• Home design: Single-family property (Rosa 4 plan)
• Exterior features: Living area approximately 1,974Address: 5604 Taos Way, San Diego, CA 92154

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 3 full bathrooms1 half bathroom
• Interior features: Spec home (Rosa 4 plan)