699 N Vulcan Ave #17 · Encinitas, CA 92024

$199,000

1 bd · 1.0 ba · 646 sqft · Manufactured public records · 101 Days on market

Built 2015 12 ac lot Est $244k · 19% under ↓ 34% 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
• 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
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Location, Location, Location Welcome to Encinitas Beach Living on a budget. Tucked away in a peaceful corner of a beautifully maintained community, this charming home offers the best of relaxed coastal living just 0.4 miles from Beacons Beach. Perfect for beach-loving couples or anyone who craves the sand and sea, the location alone is hard to beat but it’s the thoughtful touches throughout the home that truly make it special. Step inside to discover a spacious, open-concept kitchen with bar seating that flows seamlessly into a light-filled living area, where large windows invite in the golden California sun. Whether you're entertaining or enjoying a quiet morning coffee, this space f

Key facts

• Open-concept kitchen
• Private patio
• Deck

Tags

• OPEN-CONCEPT KITCHEN
• LIGHT-FILLED LIVING AREA
• NEARLY NEW WATER HEATER
• UPDATED PLUMBING FIXTURES
• PRIVATE PATIO
• DECK

Property features AI

Finance

• Other: Zoned R-1 (single family residential)
• Financial info: Land lease: $2,030 monthly (renewal date: November 1, 2025)
• HOA & community: Community amenities include pool and club house; Community of 136 units; Curbs and sidewalks in the neighborhood

Exterior

• Parking: Two parking spaces; Two carport spaces
• Utilities: Public sewer
• Home design: Single-story property; No shared/common walls
• Construction: Turnkey condition
• Exterior features: Concrete patio and enclosed/open patio areas; Shed on property; Community pool; Landscaped grounds; Close to clubhouse; Has view

Interior

• Kitchen: Kitchen open to family room; Gas cooking; Gas oven; Microwave; Refrigerator; Dishwasher; Garbage disposal; Water heater unit
• Bedrooms: Primary bedroom on main floor; All bedrooms on ground level
• Bathrooms: One full bathroom with shower (walk-in shower, exhaust fan)
• Heating & cooling: Forced air heating; Wall/window cooling
• Interior features: One-level home; Front door entry; Turnkey condition; Main floor primary bedroom; Primary bathroom with walk-in shower and exhaust fan
• Laundry & utility: Laundry in closet; Stackable washer/dryer setup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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: schools A+, amenities A+, commute 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.
• Market conditions: Rents rising fast (+5.4%/yr); 205 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $23k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.52% ✓
• Cap rate: 12.38%
• Cash-on-cash: 21.74%
• DSCR: 1.97
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $244,188
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
699 N Vulcan Ave #35	0.00mi	1/1.0	704 (+9%)	6mo	$157,000	$223	80
699 N Vulcan Ave #6	0.00mi	2/1.0 (+1)	720 (+12%)	7mo	$272,500	$378	70
123 Jasper St #16	0.31mi	2/1.0 (+1)	600 (-7%)	2mo	$405,000	$675	67
699 N Vulcan Ave #43	0.00mi	1/1.0	560 (-13%)	19mo	$170,000	$304	62

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: 17.1%
• Equity multiple: 1.71×
• Total profit: $39,517
• Equity at exit: $29,672

10-year hold

• IRR: 27.3%
• Equity multiple: 3.68×
• Total profit: $149,401
• Equity at exit: $17,206

Cash invested: $55,720 (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: 205
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,018 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$634
• Net cashflow: $1,009

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 62%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
925 N Vulcan Ave Encinitas, CA	1.0	1.0	590	$2,872	$4.87	24d	2	0.22mi
1075 N Vulcan Ave Unit 05 Encinitas, CA	1.0	1.0	550	$2,471	$4.49	1d	1	0.40mi
1435 N Vulcan Ave Apt 9 Encinitas, CA	1.0	1.0	750	$2,995	$3.99	7d	1	0.75mi
1967 N Vulcan Ave Encinitas, CA	1.0–2.0	1.0–2.0	929	$3,895	$4.19	1d	7	1.42mi
116 Quail Gardens Dr Encinitas, CA	1.0	1.0	540	$2,612	$4.84	1d	3	1.49mi
810 3rd St Encinitas, CA	1.0	1.0	650	$2,695	$4.15	1d	1	1.49mi

Listing history 26 events

1. 2026-06-18
   days on market $199,000 Active 101 DOM
2. 2026-06-17
   days on market $199,000 Active 100 DOM
3. 2026-06-16
   days on market $199,000 Active 99 DOM
4. 2026-06-15
   days on market $199,000 Active 98 DOM
5. 2026-06-13
   days on market $199,000 Active 96 DOM
6. 2026-06-13
   days on market $199,000 Active 95 DOM
7. 2026-06-09
   days on market $199,000 Active 92 DOM
8. 2026-06-08
   days on market $199,000 Active 91 DOM
9. 2026-06-07
   days on market $199,000 Active 90 DOM
10. 2026-06-04
    days on market $199,000 Active 87 DOM
11. 2026-06-03
    days on market $199,000 Active 86 DOM
12. 2026-06-02
    days on market $199,000 Active 85 DOM
13. 2026-06-01
    days on market $199,000 Active 84 DOM
14. 2026-05-31
    days on market $199,000 Active 83 DOM
15. 2026-05-12
    price $199,000
16. 2026-03-09
    listed $222,000 Active
17. 2026-02-24
    historical
18. 2025-11-07
    price $209,000
19. 2025-10-07
    listed $225,000 Active
20. 2025-10-07
    historical
21. 2025-09-24
    status Active
22. 2025-09-22
    historical Active Under Contract
23. 2025-09-12
    price $240,000
24. 2025-08-23
    price $250,000
25. 2025-06-21
    price $275,000
26. 2025-05-22
    listed $300,000 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 4/10 Moderate 7 d/yr ≥84°F today · 18 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: $36,222
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,898
• − Management: −$2,898
• − Depreciation: −$5,789
• Taxable income: $9,510
• Est. tax owed @ 24.0%: −$2,282
• After-tax cash flow: $9,830/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: 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

-33.7% since first listed

12 events — show timeline

• 2026-05-12 Price Changed $199,000 CRMLS
• 2026-03-09 Listed $222,000 CRMLS
• 2026-02-24 Listing Removed — CRMLS
• 2025-11-07 Price Changed $209,000 CRMLS
• 2025-10-07 Listing Removed — CRMLS
• 2025-10-07 Listed $225,000 CRMLS
• 2025-09-24 Relisted — CRMLS
• 2025-09-22 Contingent — CRMLS
• 2025-09-12 Price Changed $240,000 CRMLS
• 2025-08-23 Price Changed $250,000 CRMLS
• 2025-06-21 Price Changed $275,000 CRMLS
• 2025-05-22 Listed $300,000 CRMLS