7305 San Bartolo St #374 · Carlsbad, CA 92011

$175,000

2 bd · 2.0 ba · 1,368 sqft · Manufactured · 139 Days on market

Built 1976 Good condition $128/sqft · 54% below area ↓ 20% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Appreciation +5.9/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0

Listing remarks MLS

Traditional Style/Beach Living! Located in Lakeshore Gardens 55+ Gated Community! Recent upgrades in Kitchen, Both Bathrooms, Flooring AND a Fresh Coat of Paint! Kitchen has solid stone countertops, newer appliances, convection oven and gas range cooking! Primary Bath has upscale vanity with upgraded shower and sliding glass shower doors! This home is move in ready, however you can still add your touches to the outside areas to make it your own. * * NO Property Taxes! * * Some photos are Virtually Staged. Location is a 10 minute walk to South Carlsbad State Beach! LARGE strip mall offers EVERY POSSIBLE amenity from shopping to services all just a walk acrossthe street! Lakeshore Gardens has a multitude of community areas that are upscale, assessible and beautiful!

Key facts

• Upscale vanity
• Newer appliances
• Upgraded shower

Tags

• SOLID STONE COUNTERTOPS
• NEWER APPLIANCES
• UPSCALE VANITY
• UPGRADED SHOWER
• SLIDING GLASS SHOWER DOORS
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.7% vs local median 2.1% in Carlsbad — 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 78/100 on livability (#67 in CA, #2,526 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: health & safety D+, cost of living F.
• Carlsbad Unified (urban): math 68% / reading 76% proficiency, ranked #87 of 1,400 in CA (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.5%/yr); 97 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 36% of the median local income ($159k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.8% local appreciation)).
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.8% appreciation + 3.5% rent growth), your $49k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $100k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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.
7. 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.
8. 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: 2.72% ✓
• Cap rate: 23.75%
• Cash-on-cash: 62.34%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (median comp): $380,342
• List price: $175,000
• Delta: -53.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7140 Santa Rosa St	0.04mi	2/2.0	1,440 (+5%)	6mo	$191,000	$133	84
7018 San Carlos St #60	0.10mi	2/2.0	1,440 (+5%)	6mo	$392,000	$272	82
7106 Santa Cruz #56	0.04mi	2/2.0	1,464 (+7%)	9mo	$390,000	$266	79
7217 San Luis St #173	0.11mi	2/2.0	1,440 (+5%)	10mo	$280,000	$194	78
7311 San Luis St #237	0.35mi	3/2.0 (+1)	1,359 (-1%)	1mo	$236,550	$174	77
7243 San Luis St #257	0.22mi	2/2.0	1,248 (-9%)	2mo	$120,000	$96	73
7024 San Bartolo Unit 19 A	0.00mi	3/2.0 (+1)	1,544 (+13%)	2mo	$425,000	$275	71
7203 San Luis St #166	0.07mi	2/2.5	1,536 (+12%)	9mo	$375,000	$244	67
7318 San Luis St	0.37mi	2/2.0	1,440 (+5%)	9mo	$285,000	$198	66
7304 Santa Barbara St #325	0.23mi	2/2.0	1,512 (+10%)	9mo	$481,000	$318	64
7313 San Luis St #236	0.32mi	3/2.0 (+1)	1,548 (+13%)	5mo	$450,000	$291	54
6550 Ponto Dr #19	0.67mi	3/2.0 (+1)	1,410 (+3%)	10mo	$260,000	$184	50

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

Projected returns pro-forma

1.75% appreciation · 3.54% rent growth · sell at horizon

5-year hold

• IRR: 66.5%
• Equity multiple: 4.56×
• Total profit: $174,575
• Equity at exit: $66,658

10-year hold

• IRR: 67.2%
• Equity multiple: 9.43×
• Total profit: $412,976
• Equity at exit: $94,202

Cash invested: $49,000 (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 92011

• Home prices YoY: 0.4%
• Rents YoY: 3.5%
• Active inventory: 97
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $4,753 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$998
• Net cashflow: $2,546

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 41%

Sensitivity live

Price	-10% $2,667	-5% $2,606	+0% $2,546	+5% $2,485	+10% $2,425
Rent	-10% $2,170	-5% $2,358	+0% $2,546	+5% $2,733	+10% $2,921
Rate	-1.0pp $2,634	-0.5pp $2,590	base $2,546	+0.5pp $2,500	+1.0pp $2,454

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6923 Whitecap Dr Carlsbad, CA	3.0	2.0	1246	$5,250	$4.21	44d	1	0.47mi
820 Windcrest Dr Carlsbad, CA	3.0	2.0	1404	$5,581	$3.98	19d	1	0.65mi
6938 Seascape Dr Carlsbad, CA	1.0–2.0	1.0	775	$3,775	$4.87	0d	9	0.66mi
6790 Embarcadero Ln Carlsbad, CA	1.0–2.0	2.0–2.5	2104	$5,750	$2.73	6d	1	0.72mi
6910 Peachtree Rd Unit 1546353P Carlsbad, CA	3.0	2.0	1399	$6,129	$4.38	17d	1	0.76mi
6811 Alderwood Dr Carlsbad, CA	2.0	2.0	1292	$3,850	$2.98	44d	1	0.86mi
916 Caminito Estrada Unit B Carlsbad, CA	2.0	2.0	1188	$3,650	$3.07	44d	1	0.98mi
902 Caminito Madrigal Unit B Carlsbad, CA	2.0	1.0	897	$3,200	$3.57	12d	1	1.02mi
6675 Paseo del Norte Unit A Carlsbad, CA	2.0	2.0	959	$3,850	$4.01	6d	1	1.02mi
6675 Paseo del Norte Unit B Carlsbad, CA	2.0	2.0	959	$4,300	$4.48	44d	1	1.02mi
6677 Paseo Del Norte Carlsbad, CA	2.0	2.0	959	$4,500	$4.69	44d	1	1.03mi
6677 Paseo del Norte Unit B Carlsbad, CA	2.0	1.0	959	$3,950	$4.12	44d	1	1.03mi
908 Caminito Madrigal Carlsbad, CA	2.0	2.0	897	$4,500	$5.02	44d	1	1.07mi
908 Caminito Madrigal Unit D Carlsbad, CA	2.0	1.5	897	$4,500	$5.02	44d	1	1.09mi
925 Wind Drift Dr Carlsbad, CA	2.0	2.5	1110	$3,895	$3.51	44d	1	1.15mi
6555 Sea Gate Rd Carlsbad, CA	2.0	2.0	1114	$4,095	$3.67	2d	3	1.18mi
1967 N Vulcan Ave Encinitas, CA	1.0–2.0	1.0–2.0	931	$5,359	$5.76	0d	6	1.27mi
1812 Parliament Rd Encinitas, CA	2.0	2.0	1467	$11,200	$7.63	0d	1	1.43mi

Listing history 19 events

1. 2026-06-21
   days on market $175,000 Active 139 DOM
2. 2026-06-18
   days on market $175,000 Active 136 DOM
3. 2026-06-17
   days on market $175,000 Active 135 DOM
4. 2026-06-16
   days on market $175,000 Active 134 DOM
5. 2026-06-15
   days on market $175,000 Active 133 DOM
6. 2026-06-13
   days on market $175,000 Active 131 DOM
7. 2026-06-13
   days on market $175,000 Active 130 DOM
8. 2026-06-09
   days on market $175,000 Active 127 DOM
9. 2026-06-08
   days on market $175,000 Active 126 DOM
10. 2026-06-07
    days on market $175,000 Active 125 DOM
11. 2026-06-04
    days on market $175,000 Active 122 DOM
12. 2026-06-03
    days on market $175,000 Active 121 DOM
13. 2026-06-02
    days on market $175,000 Active 120 DOM
14. 2026-06-01
    days on market $175,000 Active 119 DOM
15. 2026-05-31
    days on market $175,000 Active 118 DOM
16. 2026-03-24
    price $239,000 777-char remark

    Show marketing remark (777 chars)

    Traditional Style/Beach Living! Located in Lakeshore Gardens 55+ Gated Community! Recent upgrades in Kitchen, Both Bathrooms, Flooring AND a Fresh Coat of Paint! Kitchen has solid stone countertops, newer appliances, convection oven and gas range cooking! Primary Bath has upscale vanity with upgraded shower and sliding glass shower doors! This home is move in ready, however you can still add your touches to the outside areas to make it your own. * * NO Property Taxes! * * Some photos are Virtually Staged. Location is a 10 minute walk to South Carlsbad State Beach! LARGE strip mall offers EVERY POSSIBLE amenity from shopping to services all just a walk acrossthe street! Lakeshore Gardens has a multitude of community areas that are upscale, assessible and beautiful!

17. 2026-02-03
    listed $275,000 Active 777-char remark

    Show marketing remark (777 chars)

    Traditional Style/Beach Living! Located in Lakeshore Gardens 55+ Gated Community! Recent upgrades in Kitchen, Both Bathrooms, Flooring AND a Fresh Coat of Paint! Kitchen has solid stone countertops, newer appliances, convection oven and gas range cooking! Primary Bath has upscale vanity with upgraded shower and sliding glass shower doors! This home is move in ready, however you can still add your touches to the outside areas to make it your own. * * NO Property Taxes! * * Some photos are Virtually Staged. Location is a 10 minute walk to South Carlsbad State Beach! LARGE strip mall offers EVERY POSSIBLE amenity from shopping to services all just a walk acrossthe street! Lakeshore Gardens has a multitude of community areas that are upscale, assessible and beautiful!

18. 2026-02-01
    historical
19. 2025-09-26
    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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥82°F today · 19 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: $57,039
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$4,563
• − Management: −$4,563
• − Depreciation: −$5,091
• Taxable income: $29,519
• Est. tax owed @ 24.0%: −$7,084
• After-tax cash flow: $23,463/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 · 1 photo

Good 75/100 Cosmetic rehab

This home is move-in ready with recent upgrades in kitchen and bathrooms, fresh paint, and hardwood floors. It offers a good condition with potential for further value increases through landscaping and smart home improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers
• Both Add a smart home system — Improves convenience and can be a selling point
• Both Install a smart thermostat — Saves energy and can be a selling point

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers ↑
• Both Add a smart home system — Improves convenience and can be a selling point ↑
• Both Install a smart thermostat — Saves energy and can be a selling point ↑

ⓘ 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: Carlsbad Unified
• NCES district ID: 0607500
• Math proficiency: 68% ▲ 2.00%
• Reading proficiency: 76% ▲ 2.00%
• Median HH income: $81,200
• Composite: 65.11/100
• National rank: #1068
• State rank: #87 of 1400 in CA

Livability — Carlsbad

• Score: 78/100
• State rank: #67
• US rank: #2526

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carlsbad, CA
• County: San Diego County · 3,178,799 people
• City population: 114,373
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 23,190
• Household income: $159,235
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 714.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 17% Two or more races 15% Asian 12%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 4% Slovak 3% Italian 3%
• Foreign-born: 16% · Canada, China, Vietnam
• Languages at home: 82% English-only · Spanish 6% Chinese 4% German/W. Germanic 2%

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: ▲ 1.75%
• Current HPI: 399.8502
• Rent YoY: ▲ 3.54%
• 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

-20.1% since first listed

4 events — show timeline

• 2026-03-24 Price Changed $239,000 SDMLS
• 2026-02-03 Listed $275,000 SDMLS
• 2026-02-01 Listing Removed — SDMLS
• 2025-09-26 Listed $299,000 SDMLS