350 N El Camino Real #41 · Encinitas, CA 92024

$279,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 37 Days on market

Built 1975 Good condition 2,000 sqft lot Est $464k · 40% under

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Why this score? — see what drove the A- 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).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +7.1/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks

If you’re looking to downsize or retire close to the beach, then look no further! This “ground set” 55+/45 community is unique to other mobile home communities in that the homes are set lower into the ground making it so there are no stairs to climb. This beautifully upgraded home offers a light and bright floorplan! 2 spacious bedrooms, 2 full bathrooms, open concept living and dining room, well designed kitchen with stainless appliances, family room and a dedicated laundry area, too, large enough for full size washer/dryer and utility sink. The living room windows are adorned with custom shutters, all flooring throughout the home is a deep wood grained looking plank, new

Key facts

• Custom shutters
• Covered carport
• No stairs

Tags

• GROUND SET COMMUNITY
• NO STAIRS
• CUSTOM SHUTTERS
• DEDICATED LAUNDRY AREA
• COVERED CARPORT
• OUTDOOR SHEDS

Property features AI

Finance

• Other: Lot size and living area are estimated
• Financial info: Land lease of $1,836 per month
• HOA & community: Located in a senior community (Green Valley Mobile Estates); Community features include street lighting and urban setting; Manager approval required; Park has 77 pads; Pets are allowed

Exterior

• Parking: Covered parking; Carport attached (2 carport spaces); RV and boat access/parking available; Two total parking spaces; RV parking fee applies
• Utilities: Public sewer
• Home design: Single-story manufactured/mobile home (24' x 60'); Entry at ground level; One total story
• Construction: Mobile/manufactured construction
• Exterior features: In-ground private pool; Yard; Level lot with street frontage; Two sheds on the property; Has a view

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Bedrooms are all on the ground level
• Bathrooms: Two full bathrooms
• Heating & cooling: Central cooling
• Interior features: One-level home with a formal entry; All bedrooms located on the main level; Jack & Jill bathroom configuration; Primary suite with primary bathroom; Laundry room inside the home
• Laundry & utility: Washer included; Dryer included; Laundry located inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $279k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $279k).
• Recommended offer: $271k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 1.6% in Encinitas — 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 79/100 on livability (#54 in CA, #2,026 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, cost of living F.
• San Dieguito Union High (urban): math 72% / reading 79% proficiency, ranked #56 of 1,400 in CA (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Park Dale Lane Elementary (437 students, 30% FRL); Oak Crest Middle (802 students, 24% FRL); Canyon Crest Academy (2,336 students, 11% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 208 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• This rent runs 32% of the median local income ($159k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $78k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($271k) is reasonable based on typical stale-listing flexibility.

Recommended offer $270,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.53% ✓
• Cap rate: 12.51%
• Cash-on-cash: 22.20%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $463,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 N El Camino Real Real #50	0.00mi	2/2.0	1,440 (0%)	1mo	$228,000	$158	99
350 N El Camino Real Real Spc 19	0.00mi	2/2.0	1,440 (0%)	12mo	$280,000	$194	90
444 N El Camino Real Real Spc 48	0.13mi	3/2.0 (+1)	1,440 (0%)	1mo	$665,000	$462	88
350 N El Camino Real #22	0.00mi	2/2.0	1,440 (0%)	19mo	$191,000	$133	84
444 N El Camino Real #119	0.13mi	2/2.0	1,368 (-5%)	3mo	$650,000	$475	83
444 El Camino Real N #96	0.13mi	2/2.0	1,368 (-5%)	7mo	$440,000	$322	80
444 El Camino Real #2	0.13mi	3/2.0 (+1)	1,512 (+5%)	1mo	$729,000	$482	80
444 N El Camino Real #47	0.13mi	2/2.0	1,328 (-8%)	2mo	$438,500	$330	79
444 N El Camino Real #49	0.13mi	2/2.0	1,400 (-3%)	18mo	$469,900	$336	74
350 N El Camino Real #12	0.00mi	3/3.0 (+1)	1,440 (0%)	21mo	$189,000	$131	74
444 N El Camino Real Real #26	0.13mi	2/2.0	1,344 (-7%)	14mo	$430,000	$320	71
350 N El Camino Real Real #18	0.00mi	2/2.0	1,250 (-13%)	11mo	$180,000	$144	68

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 · 5.39% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 1.74×
• Total profit: $57,419
• Equity at exit: $41,600

10-year hold

• IRR: 27.8%
• Equity multiple: 3.74×
• Total profit: $214,099
• Equity at exit: $24,123

Cash invested: $78,120 (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 92024

• Rents YoY: 5.4%
• Active inventory: 208
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $4,270 high
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$897
• Net cashflow: $1,445

Break-even live

Break-even rent $2,441

Max offer price $279,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,638	-5% $1,542	+0% $1,445	+5% $1,349	+10% $1,252
Rent	-10% $1,108	-5% $1,277	+0% $1,445	+5% $1,614	+10% $1,783
Rate	-1.0pp $1,586	-0.5pp $1,516	base $1,445	+0.5pp $1,373	+1.0pp $1,299

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 Garden View Rd Encinitas, CA	1.0	1.0	1086	$3,121	$2.87	0d	1	0.32mi
1320 Via Terrassa Encinitas, CA	1.0–2.0	1.0–2.0	992	$4,200	$4.23	0d	16	0.48mi
155 Rosebay Dr #45 Encinitas, CA	2.0	1.0	925	$3,000	$3.24	0d	1	0.57mi
1190 Encinitas Blvd Encinitas, CA	1.0–2.0	1.0–2.0	799	$3,100	$3.88	0d	4	0.58mi
1647 Tennis Match Way Encinitas, CA	3.0	2.5	1783	$6,000	$3.37	13d	1	0.67mi
820 Encinitas Blvd #202 Encinitas, CA	2.0	1.0	1060	$3,000	$2.83	21d	1	0.68mi
924 Encinitas Blvd Encinitas, CA	1.0–2.0	1.0–2.0	800	$2,945	$3.68	0d	4	0.69mi
760 Encinitas Blvd #103 Encinitas, CA	2.0	1.5	1092	$3,600	$3.30	0d	1	0.72mi
606 Camino De Orchidia Encinitas, CA	2.0	2.5	1139	$9,000	$7.90	0d	1	0.92mi
1953 Skyknoll Way Encinitas, CA	3.0	3.0	1492	$4,500	$3.02	4d	1	1.08mi
211 Chapalita Dr Unit 1048659P Encinitas, CA	3.0	2.0	1313	$7,526	$5.73	0d	1	1.11mi
1101 Catania Ct Unit 202 Encinitas, CA	2.0	2.0	1057	$5,400	$5.11	12d	1	1.12mi
1101 Catania Ct Unit 104 Encinitas, CA	2.0	2.0	940	$5,250	$5.59	0d	1	1.12mi
1103 Catania Ct Unit 104 Encinitas, CA	2.0	2.0	940	$5,500	$5.85	0d	1	1.13mi
668 Westlake St Encinitas, CA	2.0	2.5	1379	$4,850	$3.52	0d	1	1.13mi
714 Passiflora Ave Unit 1 Encinitas, CA	1.0	1.0	1000	$4,000	$4.00	0d	1	1.16mi
608 Silver Berry Pl Encinitas, CA	3.0	2.5	1268	$5,500	$4.34	9d	1	1.28mi
283 Mangano Cir Unit 283 Encinitas, CA	2.0	2.0	900	$3,300	$3.67	6d	1	1.29mi
2033 Red Coach Ln Encinitas, CA	3.0	2.0	1014	$5,250	$5.18	19d	1	1.32mi
583 Melba Rd Encinitas, CA	3.0	2.0	1379	$5,495	$3.98	23d	1	1.36mi
1053 Golden Rd Unit B Encinitas, CA	2.0	1.5	1050	$3,400	$3.24	0d	1	1.43mi

Listing history 16 events

1. 2026-06-21
   pricedays on market $279,000 Active 37 DOM
2. 2026-06-18
   days on market $299,000 Active 34 DOM
3. 2026-06-17
   days on market $299,000 Active 33 DOM
4. 2026-06-16
   days on market $299,000 Active 32 DOM
5. 2026-06-15
   days on market $299,000 Active 31 DOM
6. 2026-06-13
   days on market $299,000 Active 29 DOM
7. 2026-06-13
   days on market $299,000 Active 28 DOM
8. 2026-06-09
   days on market $299,000 Active 25 DOM
9. 2026-06-08
   days on market $299,000 Active 24 DOM
10. 2026-06-07
    days on market $299,000 Active 23 DOM
11. 2026-06-04
    days on market $299,000 Active 20 DOM
12. 2026-06-03
    days on market $299,000 Active 19 DOM
13. 2026-06-02
    days on market $299,000 Active 18 DOM
14. 2026-06-01
    days on market $299,000 Active 17 DOM
15. 2026-05-31
    days on market $299,000 Active 16 DOM
16. 2026-05-15
    listed $299,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,242
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$4,099
• − Management: −$4,099
• − Depreciation: −$8,116
• Taxable income: $13,718
• Est. tax owed @ 24.0%: −$3,292
• After-tax cash flow: $14,051/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 · 15 photos

Good 80/100 Cosmetic rehab

This well-maintained mobile home offers a good condition with modern updates and a clean exterior. It is ready for immediate occupancy and minor cosmetic improvements can further enhance its value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: San Dieguito Union High
• NCES district ID: 0634380
• Math proficiency: 72% ▬ 0.00%
• Reading proficiency: 79% ▼ -1.00%
• Median HH income: $110,199
• Composite: 70.63/100
• National rank: #519
• State rank: #56 of 1400 in CA

Livability — Encinitas

• Score: 79/100
• State rank: #54
• US rank: #2026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Encinitas, CA
• County: San Diego County · 3,178,799 people
• City population: 61,717
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 50,617
• Household income: $158,507
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 1537.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 14% Two or more races 11% Asian 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Romanian 3% Slovak 3%
• Foreign-born: 12% · Canada, China
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% German/W. Germanic 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: ▼ -881.14%
• Current HPI: 461.5044
• Rent YoY: ▲ 5.39%
• 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

1 event — show timeline

• 2026-05-15 Listed $299,000 CRMLS