1624 N Coast Highway 101 #45 · Encinitas, CA 92024

$350,000

3 bd · 1.0 ba · 650 sqft · Manufactured · 173 Days on market

Built 2004 900 sqft lot Est $356k · at est.

---

Why this score? — see what drove the B 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 +29.1/30.0
• DSCR +10.0/10.0
• ARV discount +8.2/15.0
• 1% rule +8.1/10.0
• 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 MLS

This ideal beach cottage is located in the charming town of Leucadia and is just steps to the ocean! Surrounded by lots of light & ocean breezes this home offers plenty of room for the family or for guests. Boasting 3 bedrooms plus built-in sunroom (office) and 1 bath this home comes complete with beautiful laminate wood floors, gorgeous kitchen with stainless appliances, newer roof & freshly painted inside. Nestled amongst million dollar homes and within walking distance to the beach, shopping, popular eateries, parks, schools, art galleries & the wonderful Farmer's Market. Perfect as a primary home, vacation home or rental property. Land lease $2,000/month

Key facts

• Laminate wood floors
• Steps from the ocean
• Newer roof

Tags

• RENOVATED BEACH COTTAGE
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• NEWER ROOF
• LAMINATE WOOD FLOORS
• STEPS FROM THE OCEAN

Property features AI

Finance

• HOA & community: Community features include watersports and suburban setting; Land lease community (The Sands) with monthly land lease of $2,200

Exterior

• Parking: Located in The Sands park
• Utilities: Public sewer
• Home design: Mobile home remains on site; Total of 2 stories
• Construction: Mobile home dimensions approximately 15 ft by 40 ft
• Exterior features: No pool; No landscaping; Has a view

Interior

• Bedrooms: Main floor primary bedroom; Main floor bedroom
• Bathrooms: 1 full bathroom
• Interior features: Ground-level entry; Two levels; Office
• Laundry & utility: Community laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $350k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: 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: Paul Ecke-Central Elementary (608 students, 23% FRL); Diegueno Middle (790 students, 16% FRL); Canyon Crest Academy (2,336 students, 11% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 208 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• This rent runs 35% 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 $10k 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 $98k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $200k; list at $350k implies a 75% gain — meaningful room to come down on a strong offer.

Recommended offer $308,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.31% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.82%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $355,550
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1624 N Coast Hwy 101 #3	0.00mi	2/1.0 (-1)	700 (+8%)	0mo	$549,000	$784	82
1624 N Coast Highway 101 #12	0.00mi	2/1.0 (-1)	670 (+3%)	10mo	$242,000	$361	81
1624 N Coast Hwy 101 #31	0.00mi	2/1.5 (-1)	630 (-3%)	10mo	$320,000	$508	80
1624 N Coast Hwy 101 #23	0.00mi	2/1.0 (-1)	640 (-2%)	22mo	$350,000	$547	74
123 Jasper St #16	0.72mi	2/1.0 (-1)	600 (-8%)	2mo	$405,000	$675	47

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: 8.0%
• Equity multiple: 1.32×
• Total profit: $31,766
• Equity at exit: $52,186

10-year hold

• IRR: 19.3%
• Equity multiple: 2.80×
• Total profit: $175,966
• Equity at exit: $30,262

Cash invested: $98,000 (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 92024

• Rents YoY: 5.4%
• Active inventory: 208
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $4,594 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$965
• Net cashflow: $1,211

Break-even live

Break-even rent $3,062

Max offer price $350,000

Occupancy floor 69%

Sensitivity live

Price	-10% $1,452	-5% $1,331	+0% $1,211	+5% $1,090	+10% $969
Rent	-10% $848	-5% $1,029	+0% $1,211	+5% $1,392	+10% $1,573
Rate	-1.0pp $1,387	-0.5pp $1,300	base $1,211	+0.5pp $1,120	+1.0pp $1,028

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1967 N Vulcan Ave Encinitas, CA	1.0–2.0	1.0–2.0	931	$5,359	$5.76	0d	6	0.52mi

Listing history 31 events

1. 2026-06-21
   days on market $350,000 Active 173 DOM
2. 2026-06-18
   days on market $350,000 Active 170 DOM
3. 2026-06-17
   days on market $350,000 Active 169 DOM
4. 2026-06-16
   days on market $350,000 Active 168 DOM
5. 2026-06-15
   days on market $350,000 Active 167 DOM
6. 2026-06-13
   days on market $350,000 Active 165 DOM
7. 2026-06-13
   days on market $350,000 Active 164 DOM
8. 2026-06-09
   days on market $350,000 Active 161 DOM
9. 2026-06-08
   days on market $350,000 Active 160 DOM
10. 2026-06-07
    days on market $350,000 Active 159 DOM
11. 2026-06-04
    days on market $350,000 Active 156 DOM
12. 2026-06-03
    days on market $350,000 Active 155 DOM
13. 2026-06-02
    days on market $350,000 Active 154 DOM
14. 2026-06-01
    days on market $350,000 Active 153 DOM
15. 2026-05-31
    days on market $350,000 Active 152 DOM
16. 2025-12-29
    listed $350,000 Active
17. 2021-09-09
    soldstatus $200,000 Closed Sale 684-char remark

    Show marketing remark (684 chars)

    This ideal beach cottage is located in the charming town of Leucadia and is just steps to the ocean! Surrounded by lots of light & ocean breezes this home offers plenty of room for the family or for guests. Boasting 3 bedrooms plus built-in sunroom (office) and 1 bath this home comes complete with beautiful laminate wood floors, gorgeous kitchen with stainless appliances, newer roof & freshly painted inside. Nestled amongst million dollar homes and within walking distance to the beach, shopping, popular eateries, parks, schools, art galleries & the wonderful Farmer's Market. Perfect as a primary home, vacation home or rental property. Land lease $2,000/month

18. 2021-08-20
    status Pending Sale 684-char remark

    Show marketing remark (684 chars)

    This ideal beach cottage is located in the charming town of Leucadia and is just steps to the ocean! Surrounded by lots of light & ocean breezes this home offers plenty of room for the family or for guests. Boasting 3 bedrooms plus built-in sunroom (office) and 1 bath this home comes complete with beautiful laminate wood floors, gorgeous kitchen with stainless appliances, newer roof & freshly painted inside. Nestled amongst million dollar homes and within walking distance to the beach, shopping, popular eateries, parks, schools, art galleries & the wonderful Farmer's Market. Perfect as a primary home, vacation home or rental property. Land lease $2,000/month

19. 2021-06-09
    price $229,000 684-char remark

    Show marketing remark (684 chars)

    This ideal beach cottage is located in the charming town of Leucadia and is just steps to the ocean! Surrounded by lots of light & ocean breezes this home offers plenty of room for the family or for guests. Boasting 3 bedrooms plus built-in sunroom (office) and 1 bath this home comes complete with beautiful laminate wood floors, gorgeous kitchen with stainless appliances, newer roof & freshly painted inside. Nestled amongst million dollar homes and within walking distance to the beach, shopping, popular eateries, parks, schools, art galleries & the wonderful Farmer's Market. Perfect as a primary home, vacation home or rental property. Land lease $2,000/month

20. 2021-05-14
    price $249,000 684-char remark

    Show marketing remark (684 chars)

    This ideal beach cottage is located in the charming town of Leucadia and is just steps to the ocean! Surrounded by lots of light & ocean breezes this home offers plenty of room for the family or for guests. Boasting 3 bedrooms plus built-in sunroom (office) and 1 bath this home comes complete with beautiful laminate wood floors, gorgeous kitchen with stainless appliances, newer roof & freshly painted inside. Nestled amongst million dollar homes and within walking distance to the beach, shopping, popular eateries, parks, schools, art galleries & the wonderful Farmer's Market. Perfect as a primary home, vacation home or rental property. Land lease $2,000/month

21. 2021-04-17
    price $279,000 684-char remark

    Show marketing remark (684 chars)

    This ideal beach cottage is located in the charming town of Leucadia and is just steps to the ocean! Surrounded by lots of light & ocean breezes this home offers plenty of room for the family or for guests. Boasting 3 bedrooms plus built-in sunroom (office) and 1 bath this home comes complete with beautiful laminate wood floors, gorgeous kitchen with stainless appliances, newer roof & freshly painted inside. Nestled amongst million dollar homes and within walking distance to the beach, shopping, popular eateries, parks, schools, art galleries & the wonderful Farmer's Market. Perfect as a primary home, vacation home or rental property. Land lease $2,000/month

22. 2021-03-19
    listed $298,000 Active 684-char remark

    Show marketing remark (684 chars)

    This ideal beach cottage is located in the charming town of Leucadia and is just steps to the ocean! Surrounded by lots of light & ocean breezes this home offers plenty of room for the family or for guests. Boasting 3 bedrooms plus built-in sunroom (office) and 1 bath this home comes complete with beautiful laminate wood floors, gorgeous kitchen with stainless appliances, newer roof & freshly painted inside. Nestled amongst million dollar homes and within walking distance to the beach, shopping, popular eateries, parks, schools, art galleries & the wonderful Farmer's Market. Perfect as a primary home, vacation home or rental property. Land lease $2,000/month

23. 2017-02-12
    historical
24. 2017-02-12
    historical
25. 2017-01-01
    listed $120,000 Active
26. 2016-01-30
    listed $120,000
27. 2014-07-08
    soldstatus $65,000 Sold
28. 2014-07-08
    soldstatus $65,000
29. 2014-06-23
    status Pending
30. 2014-06-18
    listed $75,000 Active
31. 2014-06-18
    listed $75,000

ⓘ 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 ≥85°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: $55,129
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,410
• − Management: −$4,410
• − Depreciation: −$10,182
• Taxable income: $9,521
• Est. tax owed @ 24.0%: −$2,285
• After-tax cash flow: $12,242/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

+366.7% since first listed

16 events — show timeline

• 2025-12-29 Listed $350,000 CRMLS
• 2021-09-09 Sold (MLS) $200,000 CRMLS
• 2021-08-20 Pending — CRMLS
• 2021-06-09 Price Changed $229,000 CRMLS
• 2021-05-14 Price Changed $249,000 CRMLS
• 2021-04-17 Price Changed $279,000 CRMLS
• 2021-03-19 Listed $298,000 CRMLS
• 2017-02-12 Listing Removed — SDMLS
• 2017-02-12 Listing Removed — CRMLS
• 2017-01-01 Listed $120,000 SDMLS
• 2016-01-30 Listed $120,000 CRMLS
• 2014-07-08 Sold (MLS) $65,000 CRMLS
• 2014-07-08 Sold (MLS) $65,000 SDMLS
• 2014-06-23 Pending — SDMLS
• 2014-06-18 Listed $75,000 SDMLS
• 2014-06-18 Listed $75,000 CRMLS