699 N Vulcan Ave Spc 134 · Encinitas, CA 92024

$399,000

3 bd · 2.0 ba · 1,369 sqft · Manufactured public records · 59 Days on market

Built 2016 ↓ 17% 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

Best value west of I-5! Seller has made a HUGE price adjustment and is motivated. Experience coastal living at its finest in this light-filled 3-bedroom, 2-bath home in the heart of Leucadia. Thoughtfully updated and full of charm, the home features an open-concept layout, abundant natural light, and seamless indoor-outdoor flow. Enjoy a spacious kitchen, updated finishes, and inviting living spaces designed for relaxed coastal living. Ideally located just minutes from beaches, restaurants, coffee shops, and all that downtown Encinitas and Leucadia have to offer. Resort-style community amenities and an unbeatable location make this a rare opportunity at an exceptional value. Don’t mis

Key facts

• Open floor plan
• Quartz countertops
• Ensuite bath

Tags

• OPEN FLOOR PLAN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• CENTER ISLAND
• WOOD-STYLE FLOORING
• ENSUITE BATH

Property features AI

Finance

• HOA & community: Community pool; Located in Riveria Mobile Park Home (Leucadia subdivision); Pets allowed with breed restrictions; Lot is common interest (0)

Exterior

• Parking: Assigned parking with 2 total spaces
• Utilities: Sewer connected
• Home design: Manufactured home; Single-story
• Construction: Composition roof
• Exterior features: Covered porch with awnings

Interior

• Kitchen: Gas cooktop and gas oven; Dishwasher; Refrigerator
• Bedrooms: Up to 3 bedrooms possible
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Fireplace
• Interior features: Dishwasher; Refrigerator; Gas oven; Gas cooktop; One fireplace in the family room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $399k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $399k).
• Recommended offer: $387k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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); 208 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).
• At $6,049/mo this rent would consume 46% of the median local household income ($159k/yr) (locally 1537% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 $112k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $387,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.52% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.58%
• DSCR: 2.14
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $1,118,473
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
699 N Vulcan Ave #136	0.00mi	3/2.0	1,440 (+5%)	14mo	$250,000	$174	80
123 Jasper St #31	0.31mi	3/2.0	1,212 (-12%)	9mo	$990,000	$817	59

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: 21.7%
• Equity multiple: 1.91×
• Total profit: $101,805
• Equity at exit: $59,492

10-year hold

• IRR: 31.2%
• Equity multiple: 4.11×
• Total profit: $347,631
• Equity at exit: $34,498

Cash invested: $111,720 (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: 208
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $6,049 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$138 /mo · $1,655/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,270
• Net cashflow: $2,382

Break-even live

Break-even rent $3,034

Max offer price $399,000

Occupancy floor 56%

Sensitivity live

Price	-10% $2,608	-5% $2,495	+0% $2,382	+5% $2,269	+10% $2,156
Rent	-10% $1,904	-5% $2,143	+0% $2,382	+5% $2,621	+10% $2,860
Rate	-1.0pp $2,583	-0.5pp $2,483	base $2,382	+0.5pp $2,278	+1.0pp $2,173

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
850 Hermes Ave Encinitas, CA	3.0	2.0	1442	$6,800	$4.72	3d	1	0.13mi
156 Leucadia Blvd Encinitas, CA	3.0	2.0	1100	$4,500	$4.09	2d	1	0.16mi
317 Crocus Ct Encinitas, CA	3.0	2.5	1416	$8,000	$5.65	18d	1	0.17mi
579 Hygeia Ave Encinitas, CA	3.0	2.5	1609	$9,500	$5.90	2d	1	0.19mi
804 Clark Ave Encinitas, CA	2.0	2.0	1200	$5,200	$4.33	25d	1	0.50mi
120 Phoebe St Unit 02 Encinitas, CA	2.0	1.5	975	$3,800	$3.90	2d	1	0.56mi
120 Phoebe St Apt 7 Encinitas, CA	2.0	1.5	975	$3,800	$3.90	11d	1	0.56mi
123 W Jason St Unit C Encinitas, CA	2.0	1.0	900	$3,685	$4.09	15d	1	0.61mi
1403 Hermes Ave Unit A Encinitas, CA	2.0	1.0	890	$4,095	$4.60	13d	1	0.69mi
1403 Hermes Ave Apt D Encinitas, CA	2.0	1.0	890	$3,754	$4.22	2d	1	0.69mi
129 Jupiter St Encinitas, CA	2.0	1.0	950	$3,500	$3.68	11d	1	0.70mi
1457 N Vulcan Ave Apt 7 Encinitas, CA	2.0	1.0	1056	$3,995	$3.78	2d	1	0.76mi
1457 N Vulcan Ave Unit 2 Encinitas, CA	2.0	1.0	1056	$3,995	$3.78	12d	1	0.76mi
1457 N Vulcan Ave Unit 6 Encinitas, CA	3.0	2.5	1282	$5,150	$4.02	21d	1	0.76mi
608 Silver Berry Pl Encinitas, CA	3.0	2.5	1268	$5,500	$4.34	8d	1	0.86mi
201 4th St Unit A Encinitas, CA	2.0	1.5	1350	$7,500	$5.56	2d	1	0.93mi
137 Avocado St Unit 146 Encinitas, CA	2.0	1.5	1100	$4,995	$4.54	2d	1	0.94mi
250 Hillcrest Dr Encinitas, CA	2.0	2.0	1100	$5,995	$5.45	17d	1	0.96mi
256 Hillcrest Dr Encinitas, CA	2.0	2.0	1100	$5,750	$5.23	2d	1	0.98mi
156 Grandview St Unit 4 Encinitas, CA	2.0	1.5	1400	$4,800	$3.43	14d	1	1.05mi
141 Stonesteps Way Encinitas, CA	2.0	2.5	1593	$6,500	$4.08	2d	1	1.06mi
1703 Kennington Rd Encinitas, CA	3.0	2.0	1616	$6,195	$3.83	3d	1	1.08mi
1680 Neptune Ave Encinitas, CA	4.0	3.5	1706	$25,000	$14.65	2d	1	1.09mi
1686 Neptune Ave Encinitas, CA	2.0	2.0	1268	$10,500	$8.28	2d	1	1.10mi
1103 Catania Ct Unit 104 Encinitas, CA	2.0	2.0	940	$5,500	$5.85	2d	1	1.15mi
1101 Catania Ct Unit 202 Encinitas, CA	2.0	2.0	1057	$5,400	$5.11	12d	1	1.16mi
1101 Catania Ct Unit 104 Encinitas, CA	2.0	2.0	940	$5,250	$5.59	2d	1	1.17mi
283 Mangano Cir Unit 283 Encinitas, CA	2.0	2.0	900	$3,300	$3.67	5d	1	1.19mi
1812 Parliament Rd Encinitas, CA	2.0	2.0	1467	$11,200	$7.63	0d	1	1.32mi
549 San Dieguito Dr Unit 1048650P Encinitas, CA	3.0	3.0	1571	$6,934	$4.41	8d	1	1.34mi
687 S Coast Highway 101 #213 Encinitas, CA	2.0	3.0	1167	$5,950	$5.10	2d	1	1.35mi
1967 N Vulcan Ave Encinitas, CA	1.0–2.0	1.0–2.0	931	$5,359	$5.76	0d	6	1.42mi

Listing history 19 events

1. 2026-06-21
   days on market $399,000 Active 59 DOM
2. 2026-06-18
   days on market $399,000 Active 56 DOM
3. 2026-06-17
   days on market $399,000 Active 55 DOM
4. 2026-06-16
   days on market $399,000 Active 54 DOM
5. 2026-06-15
   days on market $399,000 Active 53 DOM
6. 2026-06-13
   days on market $399,000 Active 51 DOM
7. 2026-06-13
   days on market $399,000 Active 50 DOM
8. 2026-06-09
   days on market $399,000 Active 47 DOM
9. 2026-06-08
   days on market $399,000 Active 46 DOM
10. 2026-06-07
    days on market $399,000 Active 45 DOM
11. 2026-06-04
    days on market $399,000 Active 42 DOM
12. 2026-06-03
    days on market $399,000 Active 41 DOM
13. 2026-06-02
    days on market $399,000 Active 40 DOM
14. 2026-06-01
    days on market $399,000 Active 39 DOM
15. 2026-05-31
    days on market $399,000 Active 38 DOM
16. 2026-05-13
    price $399,000
17. 2026-04-23
    listed $449,000 Active
18. 2026-04-23
    historical
19. 2025-10-28
    listed $480,000 Active

ⓘ 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: $1,655 · $138/mo
• Projected year-2 tax: $3,032 · $253/mo
• Expected delta: +$1,377/yr (+$115/mo · 83.2%)

ⓘ 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 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: $72,583
• − Mortgage interest: −$22,350
• − Property taxes: −$1,655
• − Insurance: −$1,995
• − Repairs & maintenance: −$5,807
• − Management: −$5,807
• − Depreciation: −$11,607
• Taxable income: $23,362
• Est. tax owed @ 24.0%: −$5,607
• After-tax cash flow: $22,975/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

-16.9% since first listed

4 events — show timeline

• 2026-05-13 Price Changed $399,000 SDMLS
• 2026-04-23 Listed $449,000 SDMLS
• 2026-04-23 Listing Removed — SDMLS
• 2025-10-28 Listed $480,000 SDMLS