ZIP CODE 92115 // SAN DIEGO-CHULA VISTA-CARLSBAD, CA // DATA AS OF 2026-09-30
San Diego, CA (92115) Rental Property Cap Rate & Cash Flow Report
Located in San Diego County (San Diego, CA), Zip Code 92115 ranks #298 of 500 within this selected sample (41th percentile) with a Zillow ZHVI typical home-value index of $844,313 (+2.3% YoY) and a ZORI observed market rent of $3,293/mo (-0.2% YoY). Requires at least 62.3% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$2,256/mo
Annual: -$27,070/yr
Modeled Cap Rate
2.86%
NOI: $24,162/yr
Cash-on-Cash Return
-13.94%
Cash Needed: $194,192
1% Rule Ratio
0.39%
Gross Yield: 4.68%
Break-Even Rent
$5,886/mo
State Tax: 0.71%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 92115 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (CA Avg 0.71%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$4,269/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$1,280/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (92115)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $697,398 | $2,620/mo | 4.51% |
| 2022 | $792,378 | $2,975/mo | 4.51% |
| 2023 | $803,193 | $3,128/mo | 4.67% |
| 2024 | $854,983 | $3,207/mo | 4.50% |
| 2025 | $825,150 | $3,299/mo | 4.80% |
| 2026 | $844,313 | $3,293/mo | 4.68% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 92507 Riverside, CA | $600,967 | $2,346/mo | 2.87% | -$1,604/mo |
| 92407 San Bernardino, CA | $544,058 | $2,125/mo | 2.87% | -$1,451/mo |
| 93033 Oxnard, CA | $704,468 | $2,733/mo | 2.84% | -$1,895/mo |
| 92114 San Diego, CA | $737,487 | $2,857/mo | 2.83% | -$1,987/mo |
| 90001 Florence-Graham, CA | $594,881 | $2,304/mo | 2.83% | -$1,603/mo |
| 92324 Colton, CA | $500,440 | $1,929/mo | 2.81% | -$1,357/mo |