444 N El Camino Real Real Spc 42 · Encinitas, CA 92024

$429,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 9 Days on market

Built 1971 Est $433k · at est. $275/mo HOA · 6% of rent

---

Why this score? — see what drove the C+ 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.9/15.0
• Schools +7.1/10.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the highly desirable land-owned Park Encinitas. This community is truly a gem not to be missed. Large 3 bed 2 full-bath, well maintained home. Large open floor plan with tons of natural light. New Electrical panel, Two large outdoor locking storage units, Refrigerator, laundry washer/dryer included. Move-in ready Senior 55+. Where else can you own a private lot in this idyllic beach town for $450,000. Don't let this opportunity get away.

Key facts

• Private lot
• 2 parking spots
• Community pool

Tags

• LAND-OWNED PARK ENCINITAS
• PRIVATE LOT

Property features AI

Finance

• Other: Pet policy includes breed restrictions
• HOA & community: Homeowners association with monthly fee of $275; HOA fee includes water; Community amenities: clubhouse, picnic area, pool, trash; Senior community (Park Encinitas)

Exterior

• Parking: 2 parking spaces
• Utilities: Sewer: Unknown
• Home design: Single-story mobile home; Residential property
• Construction: Composition roof
• Exterior features: Community pool; Shed(s)

Interior

• Kitchen: Dishwasher; Range; Oven; Range hood; Refrigerator
• Bedrooms: Up to 3 bedrooms possible
• Flooring: Linoleum; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Dishwasher; Dryer; Refrigerator; Washer; Range; Oven; Range hood
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $429k.

Deal economics

• At list price, monthly cash flow is $946 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $429k).
• Cap rate 8.9% 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; 20 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).
• 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

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 $120k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $65k; list at $429k implies a 560% gain — meaningful room to come down on a strong offer.

Recommended offer $429,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.12% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.45%
• DSCR: 1.42
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $432,768
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
444 N El Camino Real #47	0.00mi	2/2.0 (-1)	1,328 (-1%)	2mo	$438,500	$330	91
444 N El Camino Real #119	0.00mi	2/2.0 (-1)	1,368 (+2%)	3mo	$650,000	$475	89
444 N El Camino Real Real Spc 48	0.00mi	3/2.0	1,440 (+7%)	1mo	$665,000	$462	87
444 El Camino Real N #96	0.00mi	2/2.0 (-1)	1,368 (+2%)	7mo	$440,000	$322	86
444 N El Camino Real Real #26	0.00mi	2/2.0 (-1)	1,344 (0%)	14mo	$430,000	$320	84
444 El Camino Real #2	0.00mi	3/2.0	1,512 (+12%)	1mo	$729,000	$482	78
350 N El Camino Real Real #50	0.13mi	2/2.0 (-1)	1,440 (+7%)	1mo	$228,000	$158	76
444 N El Camino Real #49	0.00mi	2/2.0 (-1)	1,400 (+4%)	18mo	$469,900	$336	73
350 N El Camino Real Real #18	0.13mi	2/2.0 (-1)	1,250 (-7%)	11mo	$180,000	$144	68
350 N El Camino Real Real Spc 19	0.13mi	2/2.0 (-1)	1,440 (+7%)	12mo	$280,000	$194	67
350 N El Camino Real #22	0.13mi	2/2.0 (-1)	1,440 (+7%)	19mo	$191,000	$133	61
350 N El Camino Real #12	0.13mi	3/3.0	1,440 (+7%)	21mo	$189,000	$131	61

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $2,582
• Equity at exit: $63,965

10-year hold

• IRR: 12.4%
• Equity multiple: 2.09×
• Total profit: $130,875
• Equity at exit: $37,092

Cash invested: $120,120 (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: 205
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $4,809 high
• Mortgage (P&I): −$2,250
• Tax from tax record: −$150 /mo · $1,795/yr
• Insurance: −$179
• HOA: −$275
• Vacancy / Maint / Mgmt: −$1,010
• Net cashflow: $946

Break-even live

Break-even rent $3,611

Max offer price $429,000

Occupancy floor 75%

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1320 Via Terrassa Encinitas, CA	1.0–3.0	1.0–2.0	1002	$4,427	$4.42	1d	21	0.62mi
1647 Tennis Match Way Encinitas, CA	3.0	2.5	1783	$6,000	$3.37	12d	1	0.69mi
155 Rosebay Dr #45 Encinitas, CA	2.0	1.0	925	$3,000	$3.24	1d	1	0.70mi
1190 Encinitas Blvd Encinitas, CA	1.0–2.0	1.0–2.0	799	$3,100	$3.88	1d	4	0.72mi
117 Rosebay Dr Encinitas, CA	2.0	2.0	1000	$2,900	$2.90	1d	3	0.78mi
820 Encinitas Blvd #202 Encinitas, CA	2.0	1.0	1060	$3,000	$2.83	19d	1	0.81mi
924 Encinitas Blvd Encinitas, CA	1.0–2.0	1.0–2.0	800	$2,945	$3.68	1d	3	0.84mi
760 Encinitas Blvd #103 Encinitas, CA	2.0	1.5	1092	$3,600	$3.30	1d	1	0.85mi
141 Turner Ave Encinitas, CA	4.0	2.0	1830	$6,500	$3.55	1d	1	0.89mi
141 Turner Ave Encinitas, CA	4.0	2.0	1830	$6,500	$3.55	3d	1	0.89mi
1953 Skyknoll Way Encinitas, CA	3.0	3.0	1492	$4,500	$3.02	3d	1	1.03mi
606 Camino De Orchidia Encinitas, CA	2.0	2.5	1139	$9,000	$7.90	1d	1	1.07mi
1101 Catania Ct Unit 202 Encinitas, CA	2.0	2.0	1057	$5,400	$5.11	11d	1	1.08mi
1101 Catania Ct Unit 104 Encinitas, CA	2.0	2.0	940	$5,250	$5.59	1d	1	1.08mi
1103 Catania Ct Unit 104 Encinitas, CA	2.0	2.0	940	$5,500	$5.85	1d	1	1.09mi
211 Chapalita Dr Unit 1048659P Encinitas, CA	3.0	2.0	1313	$7,461	$5.68	11d	1	1.17mi
668 Westlake St Encinitas, CA	2.0	2.5	1379	$4,850	$3.52	1d	1	1.26mi
2033 Red Coach Ln Encinitas, CA	3.0	2.0	1014	$5,250	$5.18	17d	1	1.30mi
608 Silver Berry Pl Encinitas, CA	3.0	2.5	1268	$5,500	$4.34	7d	1	1.34mi
283 Mangano Cir Unit 283 Encinitas, CA	2.0	2.0	900	$3,300	$3.67	4d	1	1.39mi

HOA detail

• Monthly dues: $275 · $3,300/yr
• Likely covers: electric

Listing history 12 events

1. 2026-06-18
   days on market $429,000 Active 9 DOM
2. 2026-06-17
   days on market $429,000 Active 8 DOM
3. 2026-06-16
   days on market $429,000 Active 7 DOM
4. 2026-06-15
   days on market $429,000 Active 6 DOM
5. 2026-06-13
   days on market $429,000 Active 4 DOM
6. 2026-06-13
   days on market $429,000 Active 3 DOM
7. 2026-06-10
   days on marketlisting id $429,000 Active 1 DOM
8. 2026-01-20
   listed $429,000 Active
9. 2026-01-15
   historical
10. 2025-11-06
    price $429,000
11. 2025-08-03
    listed $450,000 Active
12. 1998-03-19
    soldstatus $65,000

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,795 · $150/mo
• Projected year-2 tax: $3,260 · $272/mo
• Expected delta: +$1,466/yr (+$122/mo · 81.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $57,708
• − Mortgage interest: −$24,031
• − Property taxes: −$1,795
• − Insurance: −$2,145
• − Repairs & maintenance: −$4,617
• − Management: −$4,617
• − HOA: −$3,300
• − Depreciation: −$12,480
• Taxable income: $4,724
• Est. tax owed @ 24.0%: −$1,134
• After-tax cash flow: $10,219/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

+560.0% since first listed

5 events — show timeline

• 2026-01-20 Listed $429,000 SDMLS
• 2026-01-15 Listing Removed — SDMLS
• 2025-11-06 Price Changed $429,000 SDMLS
• 2025-08-03 Listed $450,000 SDMLS
• 1998-03-19 Sold (Public Records) $65,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,795 · +6.1% YoY. Source: county tax records.