350 N El Camino Real #72 · Encinitas, CA 92024

$219,000

2 bd · 2.0 ba · 1,536 sqft · Manufactured public records · 20 Days on market

Built 1974 14 ac lot ↓ 34% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Coastal living without the coastal price tag! Views, privacy, and the Encinitas lifestyle you've been dreaming of all just minutes from the beach. Perched at one of the highest points in Green Valley Mobile Estates, this beautifully updated home offers sweeping valley and ridgeline views, exceptional privacy, and effortless single-level living in one of Encinitas' most desirable 55 / 45+ communities. Approximately 3.5 miles from Moonlight Beach and the vibrant coastal charm of downtown Encinitas, you'll enjoy easy access to trendy cafés, acclaimed restaurants, boutique shopping, golf, medical services, and everything that makes North County one of Southern California's most sought-a

Key facts

• Renovated bathrooms
• New water heater
• Updated kitchen

Tags

• VALLEY AND RIDGELINE VIEWS
• EXCEPTIONAL PRIVACY
• SINGLE-LEVEL LIVING
• UPDATED KITCHEN
• RENOVATED BATHROOMS
• NEW WATER HEATER

Property features AI

Finance

• Financial info: Land lease approximately $1,995 per month
• HOA & community: Senior community; Community features: foothills, suburban; Located in a land-lease park (Green Valley Mobile Estates)

Exterior

• Parking: 2 total parking spaces; 2 carport spaces; Located in Green Valley Mobile Estates
• Utilities: Public sewer
• Home design: Single-story mobile home; Mobile home dimensions approximately 24' x 64'; Mobile home remains in place
• Construction: Mobile construction (manufactured home)
• Exterior features: Association pool; Level lot with street frontage; Has a view

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Primary bedroom on the main floor; Additional main floor bedroom(s)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central cooling
• Interior features: One-level entry with front door entry; Main floor primary bedroom; All bedrooms on the ground floor; Living room
• Laundry & utility: Dedicated laundry room; Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $219k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $219k).
• Recommended offer: $216k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.1% 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; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 33% 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 $7k 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 $61k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $130k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $215,715 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — 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: 2.01% ✓
• Cap rate: 17.10%
• Cash-on-cash: 38.60%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $506,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 N El Camino Real Real #50	0.00mi	2/2.0	1,440 (-6%)	1mo	$228,000	$158	89
444 El Camino Real #2	0.13mi	3/2.0 (+1)	1,512 (-2%)	1mo	$729,000	$482	85
350 N El Camino Real Real Spc 19	0.00mi	2/2.0	1,440 (-6%)	12mo	$280,000	$194	79
444 N El Camino Real Real Spc 48	0.13mi	3/2.0 (+1)	1,440 (-6%)	1mo	$665,000	$462	77
350 N El Camino Real #22	0.00mi	2/2.0	1,440 (-6%)	19mo	$191,000	$133	74
444 N El Camino Real #119	0.13mi	2/2.0	1,368 (-11%)	3mo	$650,000	$475	73
444 El Camino Real N #96	0.13mi	2/2.0	1,368 (-11%)	7mo	$440,000	$322	70
444 N El Camino Real #47	0.13mi	2/2.0	1,328 (-14%)	2mo	$438,500	$330	70
444 N El Camino Real #49	0.13mi	2/2.0	1,400 (-9%)	18mo	$469,900	$336	64
350 N El Camino Real #12	0.00mi	3/3.0 (+1)	1,440 (-6%)	21mo	$189,000	$131	63
444 N El Camino Real Real #26	0.13mi	2/2.0	1,344 (-12%)	14mo	$430,000	$320	61
444 N El Camino Real N Spc 61	0.13mi	2/2.0	1,344 (-12%)	22mo	$445,000	$331	54

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: 37.4%
• Equity multiple: 2.65×
• Total profit: $101,068
• Equity at exit: $32,654

10-year hold

• IRR: 45.2%
• Equity multiple: 5.84×
• Total profit: $296,858
• Equity at exit: $18,935

Cash invested: $61,320 (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: 4.1×

Monthly cashflow live

• Estimated rent: $4,413 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$927
• Net cashflow: $1,972

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 50%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 Garden View Rd Encinitas, CA	1.0	1.0	1086	$3,121	$2.87	1d	1	0.32mi
1320 Via Terrassa Encinitas, CA	1.0–3.0	1.0–2.0	1002	$3,858	$3.85	1d	21	0.48mi
1647 Tennis Match Way Encinitas, CA	3.0	2.5	1783	$6,000	$3.37	12d	1	0.67mi
820 Encinitas Blvd #202 Encinitas, CA	2.0	1.0	1060	$3,000	$2.83	19d	1	0.68mi
760 Encinitas Blvd #103 Encinitas, CA	2.0	1.5	1092	$3,600	$3.30	1d	1	0.72mi
606 Camino De Orchidia Encinitas, CA	2.0	2.5	1139	$9,000	$7.90	1d	1	0.92mi
1953 Skyknoll Way Encinitas, CA	3.0	3.0	1492	$4,500	$3.02	3d	1	1.08mi
211 Chapalita Dr Unit 1048659P Encinitas, CA	3.0	2.0	1313	$7,461	$5.68	12d	1	1.11mi
1101 Catania Ct Unit 202 Encinitas, CA	2.0	2.0	1057	$5,400	$5.11	11d	1	1.12mi
668 Westlake St Encinitas, CA	2.0	2.5	1379	$4,850	$3.52	1d	1	1.13mi
608 Silver Berry Pl Encinitas, CA	3.0	2.5	1268	$5,500	$4.34	7d	1	1.28mi
583 Melba Rd Encinitas, CA	3.0	2.0	1379	$5,495	$3.98	22d	1	1.36mi
1053 Golden Rd Unit B Encinitas, CA	2.0	1.5	1050	$3,400	$3.24	1d	1	1.43mi

Listing history 23 events

1. 2026-06-18
   days on market $219,000 Active 20 DOM
2. 2026-06-17
   statusdays on market $219,000 Active 19 DOM
3. 2026-06-16
   days on market $219,000 Active Under Contract 18 DOM
4. 2026-06-15
   days on market $219,000 Active Under Contract 17 DOM
5. 2026-06-13
   days on market $219,000 Active Under Contract 15 DOM
6. 2026-06-13
   days on market $219,000 Active Under Contract 14 DOM
7. 2026-06-09
   days on market $219,000 Active Under Contract 11 DOM
8. 2026-06-08
   statusdays on market $219,000 Active Under Contract 10 DOM
9. 2026-06-07
   days on market $219,000 Active 9 DOM
10. 2026-06-04
    days on market $219,000 Active 6 DOM
11. 2026-06-03
    days on market $219,000 Active 5 DOM
12. 2026-06-02
    days on market $219,000 Active 4 DOM
13. 2026-06-01
    days on market $219,000 Active 3 DOM
14. 2026-05-31
    days on market $219,000 Active 2 DOM
15. 2026-04-08
    price $229,000
16. 2026-04-01
    price $249,000
17. 2026-03-19
    price $269,000
18. 2026-02-26
    status Active
19. 2026-02-12
    historical Active Under Contract
20. 2026-01-29
    status Active
21. 2026-01-28
    historical Active Under Contract
22. 2025-12-15
    price $289,000
23. 2025-12-04
    listed $349,000 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 2/10 Low
• 🌡 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: $52,950
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$4,236
• − Management: −$4,236
• − Depreciation: −$6,371
• Taxable income: $21,460
• Est. tax owed @ 24.0%: −$5,150
• After-tax cash flow: $18,519/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

-34.4% since first listed

9 events — show timeline

• 2026-04-08 Price Changed $229,000 CRMLS
• 2026-04-01 Price Changed $249,000 CRMLS
• 2026-03-19 Price Changed $269,000 CRMLS
• 2026-02-26 Relisted — CRMLS
• 2026-02-12 Contingent — CRMLS
• 2026-01-29 Relisted — CRMLS
• 2026-01-28 Contingent — CRMLS
• 2025-12-15 Price Changed $289,000 CRMLS
• 2025-12-04 Listed $349,000 CRMLS

Property tax history

+2.3%/yr

Latest (2013): $337 · +5.8% YoY. Source: county tax records.