7221 San Luis St · Carlsbad, CA 92011

$149,999

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 6 Days on market

Built 1971 Good condition $104/sqft · 51% below area

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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
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0

Listing remarks MLS

Seller Financing or Rent to Own Option Available - Inquire for Details What if you could live just a short walk from the beach in Carlsbad… without paying the $2M+ price tag of nearby coastal homes? Welcome to Lakeshore Gardens, one of Southern California’s most desirable 55+ gated coastal communities, where everyday living feels more like a vacation. This home offers an incredible opportunity to enjoy true coastal lifestyle living with unbeatable walkability. The beach is just a short stroll away, and directly across the street you’ll find convenient shopping and dining including Ralphs, Starbucks, and several local restaurants. Inside the private gated community, residents enjoy an impressive list of resort-style amenities, including: • Scenic lake and walking paths • Resort-style pool and spa • Fully equipped fitness center • Billiards and card rooms • Large clubhouse and social gathering spaces • Fire pits, BBQ areas, and picnic spaces • Beautifully maintained grounds and active community events The home itself has been exceptionally well maintained, with new fencing installed along neighboring borders for added privacy. It offers the flexibility to move in and enjoy immediately or update with your own modern coastal design touches. One of the things residents love about Lakeshore Gardens is the ability to enjoy coastal Carlsbad living at a fraction of the cost of traditional beachside homes. The monthly space rent provides access to the land lease along with the beautifully maintained community grounds and extensive resort-style amenities that make this neighborhood so special. Homes this close to the beach in Carlsbad rarely become available at this price point, especially in a community offering this level of lifestyle, convenience, and amenities. Seller financing may be available. Contact listing agent for details.

Key facts

• 2 parking spots
• Community pool
• Built 1971

Tags

• SHORT STROLL TO BEACH
• GATED COASTAL COMMUNITIES
• RESORT STYLE AMENITIES
• SCENIC LAKE AND WALKING PATHS
• RESORT STYLE POOL AND SPA
• FULLY EQUIPPED FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $150k).
• Cap rate 29.4% 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); 96 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 14d 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 37% 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 24y ago; this cycle's ask has dropped $100k (40%) 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,999

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 3.31% ✓
• Cap rate: 29.36%
• Cash-on-cash: 82.40%
• DSCR: 4.67
• GRM: 2.5

CMA / ARV

• ARV (median comp): $304,812
• List price: $149,999
• Delta: -42.59%
• 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	0.18mi	2/2.0	1,440 (0%)	6mo	$191,000	$133	86
7217 San Luis St #173	0.15mi	2/2.0	1,440 (0%)	10mo	$280,000	$194	85
7318 San Luis St	0.22mi	2/2.0	1,440 (0%)	9mo	$285,000	$198	82
7018 San Carlos St #60	0.31mi	2/2.0	1,440 (0%)	6mo	$392,000	$272	80
7106 Santa Cruz #56	0.21mi	2/2.0	1,464 (+2%)	9mo	$390,000	$266	80
7304 Santa Barbara St #325	0.11mi	2/2.0	1,512 (+5%)	9mo	$481,000	$318	79
7243 San Luis St #257	0.00mi	2/2.0	1,248 (-13%)	2mo	$120,000	$96	76
7311 San Luis St #237	0.21mi	3/2.0 (+1)	1,359 (-6%)	1mo	$236,550	$174	75
7313 San Luis St #236	0.15mi	3/2.0 (+1)	1,548 (+8%)	5mo	$450,000	$291	71
7024 San Bartolo Unit 19 A	0.22mi	3/2.0 (+1)	1,544 (+7%)	2mo	$425,000	$275	71
7203 San Luis St #166	0.21mi	2/2.5	1,536 (+7%)	9mo	$375,000	$244	70
7224 San Benito St	0.11mi	2/2.0	1,600 (+11%)	9mo	$400,000	$250	69

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: 86.5%
• Equity multiple: 5.64×
• Total profit: $194,843
• Equity at exit: $57,135

10-year hold

• IRR: 87.0%
• Equity multiple: 11.79×
• Total profit: $452,983
• Equity at exit: $80,744

Cash invested: $42,000 (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: 96
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $4,963 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$187 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,042
• Net cashflow: $2,884

Break-even live

Break-even rent $1,312

Max offer price $149,999

Occupancy floor 37%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 23 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	0.64mi
6938 Seascape Dr Carlsbad, CA	1.0–2.0	1.0–2.0	810	$3,775	$4.66	3d	9	0.75mi
6910 Peachtree Rd Unit 1546353P Carlsbad, CA	3.0	2.0	1399	$6,129	$4.38	17d	1	0.81mi
820 Windcrest Dr Carlsbad, CA	3.0	2.0	1404	$5,581	$3.98	18d	1	0.85mi
6790 Embarcadero Ln Carlsbad, CA	1.0–2.0	2.0–2.5	2104	$5,750	$2.73	5d	1	0.96mi
6811 Alderwood Dr Carlsbad, CA	2.0	2.0	1292	$3,850	$2.98	44d	1	0.97mi
1967 N Vulcan Ave Encinitas, CA	1.0–2.0	1.0–2.0	929	$5,359	$5.77	2d	7	1.04mi
916 Caminito Estrada Unit B Carlsbad, CA	2.0	2.0	1188	$3,650	$3.07	44d	1	1.18mi
1812 Parliament Rd Encinitas, CA	2.0	2.0	1467	$11,200	$7.63	2d	1	1.21mi
6675 Paseo del Norte Unit A Carlsbad, CA	2.0	2.0	959	$3,850	$4.01	5d	1	1.22mi
6675 Paseo del Norte Unit B Carlsbad, CA	2.0	2.0	959	$4,300	$4.48	44d	1	1.22mi
6677 Paseo Del Norte Carlsbad, CA	2.0	2.0	959	$4,500	$4.69	44d	1	1.22mi
6677 Paseo del Norte Unit B Carlsbad, CA	2.0	1.0	959	$3,950	$4.12	44d	1	1.22mi
902 Caminito Madrigal Unit B Carlsbad, CA	2.0	1.0	897	$3,200	$3.57	11d	1	1.22mi
908 Caminito Madrigal Carlsbad, CA	2.0	2.0	897	$4,500	$5.02	44d	1	1.27mi
908 Caminito Madrigal Unit D Carlsbad, CA	2.0	1.5	897	$4,500	$5.02	44d	1	1.29mi
925 Wind Drift Dr Carlsbad, CA	2.0	2.5	1110	$3,895	$3.51	44d	1	1.35mi
6555 Sea Gate Rd Carlsbad, CA	2.0	2.0	1114	$4,095	$3.67	2d	3	1.39mi
141 Stonesteps Way Encinitas, CA	2.0	2.5	1593	$6,500	$4.08	2d	1	1.41mi
1703 Kennington Rd Encinitas, CA	3.0	2.0	1616	$6,195	$3.83	3d	1	1.42mi
1686 Neptune Ave Encinitas, CA	2.0	2.0	1268	$10,500	$8.28	2d	1	1.44mi
156 Grandview St Unit 4 Encinitas, CA	2.0	1.5	1400	$4,800	$3.43	13d	1	1.45mi
256 Hillcrest Dr Encinitas, CA	2.0	2.0	1100	$5,750	$5.23	2d	1	1.48mi

Listing history 46 events

1. 2026-06-18
   days on market $149,999 Active 6 DOM
2. 2026-06-17
   days on market $149,999 Active 5 DOM
3. 2026-06-16
   days on market $149,999 Active 4 DOM
4. 2026-06-15
   days on market $149,999 Active 3 DOM
5. 2026-06-13
   price $149,999 Active 1 DOM
6. 2026-06-13
   days on marketlisting id $174,999 Active 1 DOM
7. 2026-05-31
   days on market $174,999 Active 80 DOM
8. 2026-05-09
   price $199,993 1921-char remark

   Show marketing remark (1921 chars)

   Seller Financing or Rent to Own Option Available - Inquire for Details What if you could live just a short walk from the beach in Carlsbad… without paying the $2M+ price tag of nearby coastal homes? Welcome to Lakeshore Gardens, one of Southern California’s most desirable 55+ gated coastal communities, where everyday living feels more like a vacation. This home offers an incredible opportunity to enjoy true coastal lifestyle living with unbeatable walkability. The beach is just a short stroll away, and directly across the street you’ll find convenient shopping and dining including Ralphs, Starbucks, and several local restaurants. Inside the private gated community, residents enjoy an impressive list of resort-style amenities, including: • Scenic lake and walking paths • Resort-style pool and spa • Fully equipped fitness center • Billiards and card rooms • Large clubhouse and social gathering spaces • Fire pits, BBQ areas, and picnic spaces • Beautifully maintained grounds and active community events The home itself has been exceptionally well maintained, with new fencing installed along neighboring borders for added privacy. It offers the flexibility to move in and enjoy immediately or update with your own modern coastal design touches. One of the things residents love about Lakeshore Gardens is the ability to enjoy coastal Carlsbad living at a fraction of the cost of traditional beachside homes. The monthly space rent provides access to the land lease along with the beautifully maintained community grounds and extensive resort-style amenities that make this neighborhood so special. Homes this close to the beach in Carlsbad rarely become available at this price point, especially in a community offering this level of lifestyle, convenience, and amenities. Seller financing may be available. Contact listing agent for details.

9. 2026-05-01
   price $199,994 1921-char remark

   Show marketing remark (1921 chars)

   Seller Financing or Rent to Own Option Available - Inquire for Details What if you could live just a short walk from the beach in Carlsbad… without paying the $2M+ price tag of nearby coastal homes? Welcome to Lakeshore Gardens, one of Southern California’s most desirable 55+ gated coastal communities, where everyday living feels more like a vacation. This home offers an incredible opportunity to enjoy true coastal lifestyle living with unbeatable walkability. The beach is just a short stroll away, and directly across the street you’ll find convenient shopping and dining including Ralphs, Starbucks, and several local restaurants. Inside the private gated community, residents enjoy an impressive list of resort-style amenities, including: • Scenic lake and walking paths • Resort-style pool and spa • Fully equipped fitness center • Billiards and card rooms • Large clubhouse and social gathering spaces • Fire pits, BBQ areas, and picnic spaces • Beautifully maintained grounds and active community events The home itself has been exceptionally well maintained, with new fencing installed along neighboring borders for added privacy. It offers the flexibility to move in and enjoy immediately or update with your own modern coastal design touches. One of the things residents love about Lakeshore Gardens is the ability to enjoy coastal Carlsbad living at a fraction of the cost of traditional beachside homes. The monthly space rent provides access to the land lease along with the beautifully maintained community grounds and extensive resort-style amenities that make this neighborhood so special. Homes this close to the beach in Carlsbad rarely become available at this price point, especially in a community offering this level of lifestyle, convenience, and amenities. Seller financing may be available. Contact listing agent for details.

10. 2026-04-24
    price $199,995 1921-char remark

    Show marketing remark (1921 chars)

    Seller Financing or Rent to Own Option Available - Inquire for Details What if you could live just a short walk from the beach in Carlsbad… without paying the $2M+ price tag of nearby coastal homes? Welcome to Lakeshore Gardens, one of Southern California’s most desirable 55+ gated coastal communities, where everyday living feels more like a vacation. This home offers an incredible opportunity to enjoy true coastal lifestyle living with unbeatable walkability. The beach is just a short stroll away, and directly across the street you’ll find convenient shopping and dining including Ralphs, Starbucks, and several local restaurants. Inside the private gated community, residents enjoy an impressive list of resort-style amenities, including: • Scenic lake and walking paths • Resort-style pool and spa • Fully equipped fitness center • Billiards and card rooms • Large clubhouse and social gathering spaces • Fire pits, BBQ areas, and picnic spaces • Beautifully maintained grounds and active community events The home itself has been exceptionally well maintained, with new fencing installed along neighboring borders for added privacy. It offers the flexibility to move in and enjoy immediately or update with your own modern coastal design touches. One of the things residents love about Lakeshore Gardens is the ability to enjoy coastal Carlsbad living at a fraction of the cost of traditional beachside homes. The monthly space rent provides access to the land lease along with the beautifully maintained community grounds and extensive resort-style amenities that make this neighborhood so special. Homes this close to the beach in Carlsbad rarely become available at this price point, especially in a community offering this level of lifestyle, convenience, and amenities. Seller financing may be available. Contact listing agent for details.

11. 2026-04-17
    price $199,996 1921-char remark

    Show marketing remark (1921 chars)

    Seller Financing or Rent to Own Option Available - Inquire for Details What if you could live just a short walk from the beach in Carlsbad… without paying the $2M+ price tag of nearby coastal homes? Welcome to Lakeshore Gardens, one of Southern California’s most desirable 55+ gated coastal communities, where everyday living feels more like a vacation. This home offers an incredible opportunity to enjoy true coastal lifestyle living with unbeatable walkability. The beach is just a short stroll away, and directly across the street you’ll find convenient shopping and dining including Ralphs, Starbucks, and several local restaurants. Inside the private gated community, residents enjoy an impressive list of resort-style amenities, including: • Scenic lake and walking paths • Resort-style pool and spa • Fully equipped fitness center • Billiards and card rooms • Large clubhouse and social gathering spaces • Fire pits, BBQ areas, and picnic spaces • Beautifully maintained grounds and active community events The home itself has been exceptionally well maintained, with new fencing installed along neighboring borders for added privacy. It offers the flexibility to move in and enjoy immediately or update with your own modern coastal design touches. One of the things residents love about Lakeshore Gardens is the ability to enjoy coastal Carlsbad living at a fraction of the cost of traditional beachside homes. The monthly space rent provides access to the land lease along with the beautifully maintained community grounds and extensive resort-style amenities that make this neighborhood so special. Homes this close to the beach in Carlsbad rarely become available at this price point, especially in a community offering this level of lifestyle, convenience, and amenities. Seller financing may be available. Contact listing agent for details.

12. 2026-04-09
    price $199,997 1921-char remark

    Show marketing remark (1921 chars)

    Seller Financing or Rent to Own Option Available - Inquire for Details What if you could live just a short walk from the beach in Carlsbad… without paying the $2M+ price tag of nearby coastal homes? Welcome to Lakeshore Gardens, one of Southern California’s most desirable 55+ gated coastal communities, where everyday living feels more like a vacation. This home offers an incredible opportunity to enjoy true coastal lifestyle living with unbeatable walkability. The beach is just a short stroll away, and directly across the street you’ll find convenient shopping and dining including Ralphs, Starbucks, and several local restaurants. Inside the private gated community, residents enjoy an impressive list of resort-style amenities, including: • Scenic lake and walking paths • Resort-style pool and spa • Fully equipped fitness center • Billiards and card rooms • Large clubhouse and social gathering spaces • Fire pits, BBQ areas, and picnic spaces • Beautifully maintained grounds and active community events The home itself has been exceptionally well maintained, with new fencing installed along neighboring borders for added privacy. It offers the flexibility to move in and enjoy immediately or update with your own modern coastal design touches. One of the things residents love about Lakeshore Gardens is the ability to enjoy coastal Carlsbad living at a fraction of the cost of traditional beachside homes. The monthly space rent provides access to the land lease along with the beautifully maintained community grounds and extensive resort-style amenities that make this neighborhood so special. Homes this close to the beach in Carlsbad rarely become available at this price point, especially in a community offering this level of lifestyle, convenience, and amenities. Seller financing may be available. Contact listing agent for details.

13. 2026-03-24
    price $199,998 1921-char remark

    Show marketing remark (1921 chars)

    Seller Financing or Rent to Own Option Available - Inquire for Details What if you could live just a short walk from the beach in Carlsbad… without paying the $2M+ price tag of nearby coastal homes? Welcome to Lakeshore Gardens, one of Southern California’s most desirable 55+ gated coastal communities, where everyday living feels more like a vacation. This home offers an incredible opportunity to enjoy true coastal lifestyle living with unbeatable walkability. The beach is just a short stroll away, and directly across the street you’ll find convenient shopping and dining including Ralphs, Starbucks, and several local restaurants. Inside the private gated community, residents enjoy an impressive list of resort-style amenities, including: • Scenic lake and walking paths • Resort-style pool and spa • Fully equipped fitness center • Billiards and card rooms • Large clubhouse and social gathering spaces • Fire pits, BBQ areas, and picnic spaces • Beautifully maintained grounds and active community events The home itself has been exceptionally well maintained, with new fencing installed along neighboring borders for added privacy. It offers the flexibility to move in and enjoy immediately or update with your own modern coastal design touches. One of the things residents love about Lakeshore Gardens is the ability to enjoy coastal Carlsbad living at a fraction of the cost of traditional beachside homes. The monthly space rent provides access to the land lease along with the beautifully maintained community grounds and extensive resort-style amenities that make this neighborhood so special. Homes this close to the beach in Carlsbad rarely become available at this price point, especially in a community offering this level of lifestyle, convenience, and amenities. Seller financing may be available. Contact listing agent for details.

14. 2026-03-20
    price $249,990 1921-char remark

    Show marketing remark (1921 chars)

    Seller Financing or Rent to Own Option Available - Inquire for Details What if you could live just a short walk from the beach in Carlsbad… without paying the $2M+ price tag of nearby coastal homes? Welcome to Lakeshore Gardens, one of Southern California’s most desirable 55+ gated coastal communities, where everyday living feels more like a vacation. This home offers an incredible opportunity to enjoy true coastal lifestyle living with unbeatable walkability. The beach is just a short stroll away, and directly across the street you’ll find convenient shopping and dining including Ralphs, Starbucks, and several local restaurants. Inside the private gated community, residents enjoy an impressive list of resort-style amenities, including: • Scenic lake and walking paths • Resort-style pool and spa • Fully equipped fitness center • Billiards and card rooms • Large clubhouse and social gathering spaces • Fire pits, BBQ areas, and picnic spaces • Beautifully maintained grounds and active community events The home itself has been exceptionally well maintained, with new fencing installed along neighboring borders for added privacy. It offers the flexibility to move in and enjoy immediately or update with your own modern coastal design touches. One of the things residents love about Lakeshore Gardens is the ability to enjoy coastal Carlsbad living at a fraction of the cost of traditional beachside homes. The monthly space rent provides access to the land lease along with the beautifully maintained community grounds and extensive resort-style amenities that make this neighborhood so special. Homes this close to the beach in Carlsbad rarely become available at this price point, especially in a community offering this level of lifestyle, convenience, and amenities. Seller financing may be available. Contact listing agent for details.

15. 2026-03-12
    listed $249,999 Active 1921-char remark

    Show marketing remark (1921 chars)

    Seller Financing or Rent to Own Option Available - Inquire for Details What if you could live just a short walk from the beach in Carlsbad… without paying the $2M+ price tag of nearby coastal homes? Welcome to Lakeshore Gardens, one of Southern California’s most desirable 55+ gated coastal communities, where everyday living feels more like a vacation. This home offers an incredible opportunity to enjoy true coastal lifestyle living with unbeatable walkability. The beach is just a short stroll away, and directly across the street you’ll find convenient shopping and dining including Ralphs, Starbucks, and several local restaurants. Inside the private gated community, residents enjoy an impressive list of resort-style amenities, including: • Scenic lake and walking paths • Resort-style pool and spa • Fully equipped fitness center • Billiards and card rooms • Large clubhouse and social gathering spaces • Fire pits, BBQ areas, and picnic spaces • Beautifully maintained grounds and active community events The home itself has been exceptionally well maintained, with new fencing installed along neighboring borders for added privacy. It offers the flexibility to move in and enjoy immediately or update with your own modern coastal design touches. One of the things residents love about Lakeshore Gardens is the ability to enjoy coastal Carlsbad living at a fraction of the cost of traditional beachside homes. The monthly space rent provides access to the land lease along with the beautifully maintained community grounds and extensive resort-style amenities that make this neighborhood so special. Homes this close to the beach in Carlsbad rarely become available at this price point, especially in a community offering this level of lifestyle, convenience, and amenities. Seller financing may be available. Contact listing agent for details.

16. 2026-03-03
    historical
17. 2026-02-21
    price $199,900
18. 2026-01-31
    price $199,990
19. 2026-01-19
    price $199,999
20. 2026-01-15
    listed $249,999 Active
21. 2025-11-07
    historical
22. 2025-11-04
    price $249,990
23. 2025-10-24
    price $249,999
24. 2025-10-17
    price $299,900
25. 2025-10-11
    price $299,990
26. 2025-09-17
    listed $299,999 Active
27. 2025-09-13
    status Active
28. 2025-09-12
    historical
29. 2025-09-05
    status Active
30. 2025-09-05
    price $275,000
31. 2025-08-28
    price $294,900
32. 2025-08-14
    price $294,990
33. 2025-07-10
    listed $294,999 Active
34. 2025-07-03
    historical
35. 2025-06-22
    price $299,000
36. 2025-06-13
    price $299,900
37. 2025-05-25
    price $299,990
38. 2025-05-16
    price $299,999
39. 2025-05-15
    listed $299,999 Active
40. 2025-05-09
    price $249,999
41. 2025-05-09
    historical
42. 2023-11-16
    soldstatus $160,000 Sold
43. 2023-10-29
    status Pending
44. 2023-10-09
    listed $195,000 Active
45. 2002-08-22
    soldstatus $107,500
46. 2002-07-18
    listed $114,500

ⓘ 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 · 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: $59,553
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$4,764
• − Management: −$4,764
• − Depreciation: −$4,364
• Taxable income: $34,259
• Est. tax owed @ 24.0%: −$8,222
• After-tax cash flow: $26,385/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

Good 80/100 Cosmetic rehab

This manufactured home in Lakeshore Gardens is in good condition with cosmetic updates needed to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet with hardwood flooring — Improves aesthetics and value
• Both Install smart home technology — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood flooring — Improves aesthetics and value ↑
• Both Install smart home technology — Enhances convenience and marketability ↑

ⓘ 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

+74.7% since first listed

39 events — show timeline

• 2026-05-09 Price Changed $199,993 CRMLS
• 2026-05-01 Price Changed $199,994 CRMLS
• 2026-04-24 Price Changed $199,995 CRMLS
• 2026-04-17 Price Changed $199,996 CRMLS
• 2026-04-09 Price Changed $199,997 CRMLS
• 2026-03-24 Price Changed $199,998 CRMLS
• 2026-03-20 Price Changed $249,990 CRMLS
• 2026-03-12 Listed $249,999 CRMLS
• 2026-03-03 Listing Removed — CRMLS
• 2026-02-21 Price Changed $199,900 CRMLS
• 2026-01-31 Price Changed $199,990 CRMLS
• 2026-01-19 Price Changed $199,999 CRMLS
• 2026-01-15 Listed $249,999 CRMLS
• 2025-11-07 Listing Removed — SDMLS
• 2025-11-04 Price Changed $249,990 SDMLS
• 2025-10-24 Price Changed $249,999 SDMLS
• 2025-10-17 Price Changed $299,900 SDMLS
• 2025-10-11 Price Changed $299,990 SDMLS
• 2025-09-17 Listed $299,999 SDMLS
• 2025-09-13 Relisted — CRMLS
• 2025-09-12 Listing Removed — CRMLS
• 2025-09-05 Relisted — CRMLS
• 2025-09-05 Price Changed $275,000 CRMLS
• 2025-08-28 Price Changed $294,900 CRMLS
• 2025-08-14 Price Changed $294,990 CRMLS
• 2025-07-10 Listed $294,999 CRMLS
• 2025-07-03 Listing Removed — SDMLS
• 2025-06-22 Price Changed $299,000 SDMLS
• 2025-06-13 Price Changed $299,900 SDMLS
• 2025-05-25 Price Changed $299,990 SDMLS
• 2025-05-16 Price Changed $299,999 SDMLS
• 2025-05-15 Listed $299,999 SDMLS
• 2025-05-09 Price Changed $249,999 SDMLS
• 2025-05-09 Coming Soon — SDMLS
• 2023-11-16 Sold (MLS) $160,000 SDMLS
• 2023-10-29 Pending — SDMLS
• 2023-10-09 Listed $195,000 SDMLS
• 2002-08-22 Sold (MLS) $107,500 CRMLS
• 2002-07-18 Listed $114,500 CRMLS