7326 San Bartolo St #220 · Carlsbad, CA 92011

$295,000

2 bd · 2.0 ba · 1,695 sqft · Manufactured · 38 Days on market

Built 1976 $174/sqft · 23% below area Est $385k · 23% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.5/10.0
• Appreciation +5.9/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Rare Triple Wide under $300k just blocks from the Carlsbad Beach!!!! Great property with lots of potential, one of the largest homes in this 55+ desirable mobile home park. Minimal Ocean View and amazing breezes. A/C, newer shed and appliances, newer tankless WH, and water filtration under kit sink. This home also has a very private yard with additional access through primary bedroom and lots of storage. Close to locked pedestrian gate. Lakeshore Gardens is a fun 55+ community with so many activities and ten lakes to walk in nature. No HOA or property taxes! No Rentals allowed!!

Key facts

• Air conditioning
• Washer dryer
• Bath tubs

Tags

• 10 MIN WALK TO THE BEACH
• AIR CONDITIONING
• NEW DUAL PANE WINDOWS
• WASHER DRYER
• REFRIGERATOR
• BATH TUBS

Property features AI

Finance

• HOA & community: Community pool and clubhouse; Fitness center; Spa/Hot tub; Billiard room and meeting room; Barbecue area; RV parking; Located in a senior community (Lakeshore Gardens)

Exterior

• Parking: 2 parking spaces
• Security: Gated community; Smoke detectors
• Utilities: Sewer connected; Drip irrigation
• Home design: Manufactured home; Single-story
• Construction: Asphalt shingle roof
• Exterior features: Covered patio/deck; Deck; Full fencing; Shed(s)

Interior

• Kitchen: Dishwasher; Disposal; Convection oven; Gas range/Gas cooktop; Range/oven; Range hood; Ice maker; Vented exhaust fan; Refrigerator
• Bedrooms: 2 possible bedrooms
• Flooring: Laminate; No other flooring types listed
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning (electric); Forced air heating (natural gas)
• Interior features: Sauna
• Laundry & utility: Washer and dryer included; Laundry in common area; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $295k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $295k).
• Recommended offer: $286k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.8% 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); 97 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $6,173/mo this rent would consume 47% of the median local household income ($159k/yr) (locally 714% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $7k of equity ($2k loan paydown + $5k 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 $83k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $240k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $286,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.09% ✓
• Cap rate: 17.84%
• Cash-on-cash: 41.23%
• DSCR: 2.83
• GRM: 4.0

CMA / ARV

• ARV (median comp): $385,020
• List price: $295,000
• Delta: -23.38%
• 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
7207 Santa Barbara St #154	0.00mi	3/2.0 (+1)	1,656 (-2%)	3mo	$513,300	$310	89
7002 San Bartolo St #30	0.15mi	3/2.0 (+1)	1,781 (+5%)	2mo	$341,500	$192	78
7024 San Bartolo Unit 19 A	0.00mi	3/2.0 (+1)	1,544 (-9%)	2mo	$425,000	$275	78
7224 San Benito St	0.13mi	2/2.0	1,600 (-6%)	9mo	$400,000	$250	77
7203 San Luis St #166	0.06mi	2/2.5	1,536 (-9%)	9mo	$375,000	$244	72
7140 Santa Rosa St	0.04mi	2/2.0	1,440 (-15%)	6mo	$191,000	$133	68
7106 Santa Cruz #56	0.05mi	2/2.0	1,464 (-14%)	9mo	$390,000	$266	68
7018 San Carlos St #60	0.10mi	2/2.0	1,440 (-15%)	6mo	$392,000	$272	65
7304 Santa Barbara St #325	0.23mi	2/2.0	1,512 (-11%)	9mo	$481,000	$318	64
7217 San Luis St #173	0.11mi	2/2.0	1,440 (-15%)	10mo	$280,000	$194	62
7313 San Luis St #236	0.32mi	3/2.0 (+1)	1,548 (-9%)	5mo	$450,000	$291	62
7318 San Luis St	0.37mi	2/2.0	1,440 (-15%)	9mo	$285,000	$198	50

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: 45.4%
• Equity multiple: 3.43×
• Total profit: $200,697
• Equity at exit: $112,366

10-year hold

• IRR: 46.7%
• Equity multiple: 6.95×
• Total profit: $491,207
• Equity at exit: $158,797

Cash invested: $82,600 (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: 97
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $6,173 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,296
• Net cashflow: $2,838

Break-even live

Break-even rent $2,581

Max offer price $295,000

Occupancy floor 49%

Sensitivity live

Price	-10% $3,042	-5% $2,940	+0% $2,838	+5% $2,736	+10% $2,634
Rent	-10% $2,350	-5% $2,594	+0% $2,838	+5% $3,082	+10% $3,326
Rate	-1.0pp $2,987	-0.5pp $2,913	base $2,838	+0.5pp $2,762	+1.0pp $2,684

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7064 Whitewater St Carlsbad, CA	3.0	2.5	2050	$8,500	$4.15	44d	1	0.14mi
6923 Whitecap Dr Carlsbad, CA	3.0	2.0	1246	$5,250	$4.21	44d	1	0.47mi
820 Windcrest Dr Carlsbad, CA	3.0	2.0	1404	$5,581	$3.98	19d	1	0.65mi
6790 Embarcadero Ln Carlsbad, CA	1.0–2.0	2.0–2.5	2104	$5,750	$2.73	6d	1	0.72mi
6910 Peachtree Rd Unit 1546353P Carlsbad, CA	3.0	2.0	1399	$6,129	$4.38	17d	1	0.76mi
6811 Alderwood Dr Carlsbad, CA	2.0	2.0	1292	$3,850	$2.98	44d	1	0.86mi
916 Caminito Estrada Unit B Carlsbad, CA	2.0	2.0	1188	$3,650	$3.07	44d	1	0.98mi
925 Wind Drift Dr Carlsbad, CA	2.0	2.5	1110	$3,895	$3.51	44d	1	1.15mi
6555 Sea Gate Rd Carlsbad, CA	2.0	2.0	1114	$4,095	$3.67	2d	3	1.18mi
1967 N Vulcan Ave Encinitas, CA	1.0–2.0	1.0–2.0	931	$5,359	$5.76	0d	6	1.27mi
1812 Parliament Rd Encinitas, CA	2.0	2.0	1467	$11,200	$7.63	0d	1	1.43mi
1859 N Vulcan Ave Encinitas, CA	2.0	2.5	1950	$7,000	$3.59	0d	1	1.43mi

Listing history 34 events

1. 2026-06-21
   days on market $295,000 Active 38 DOM
2. 2026-06-18
   days on market $295,000 Active 35 DOM
3. 2026-06-17
   days on market $295,000 Active 34 DOM
4. 2026-06-16
   days on market $295,000 Active 33 DOM
5. 2026-06-15
   days on market $295,000 Active 32 DOM
6. 2026-06-13
   days on market $295,000 Active 30 DOM
7. 2026-06-13
   days on market $295,000 Active 29 DOM
8. 2026-06-09
   days on market $295,000 Active 26 DOM
9. 2026-06-08
   days on market $295,000 Active 25 DOM
10. 2026-06-08
    price $295,000 Active 24 DOM
11. 2026-06-07
    days on market $315,000 Active 24 DOM
12. 2026-06-04
    days on market $315,000 Active 21 DOM
13. 2026-06-03
    days on market $315,000 Active 20 DOM
14. 2026-06-02
    days on market $315,000 Active 19 DOM
15. 2026-06-01
    days on market $315,000 Active 18 DOM
16. 2026-05-31
    days on market $315,000 Active 17 DOM
17. 2026-05-12
    listed $315,000 Active 804-char remark
18. 2026-04-27
    historical
19. 2026-04-06
    price $389,000
20. 2026-03-05
    listed $395,000 Active
21. 2023-08-28
    soldstatus $240,000 Sold

    Show marketing remark (585 chars)

    Rare Triple Wide under $300k just blocks from the Carlsbad Beach!!!! Great property with lots of potential, one of the largest homes in this 55+ desirable mobile home park. Minimal Ocean View and amazing breezes. A/C, newer shed and appliances, newer tankless WH, and water filtration under kit sink. This home also has a very private yard with additional access through primary bedroom and lots of storage. Close to locked pedestrian gate. Lakeshore Gardens is a fun 55+ community with so many activities and ten lakes to walk in nature. No HOA or property taxes! No Rentals allowed!!

22. 2023-08-03
    status Pending

    Show marketing remark (585 chars)

    Rare Triple Wide under $300k just blocks from the Carlsbad Beach!!!! Great property with lots of potential, one of the largest homes in this 55+ desirable mobile home park. Minimal Ocean View and amazing breezes. A/C, newer shed and appliances, newer tankless WH, and water filtration under kit sink. This home also has a very private yard with additional access through primary bedroom and lots of storage. Close to locked pedestrian gate. Lakeshore Gardens is a fun 55+ community with so many activities and ten lakes to walk in nature. No HOA or property taxes! No Rentals allowed!!

23. 2023-07-08
    price $250,000

    Show marketing remark (585 chars)

    Rare Triple Wide under $300k just blocks from the Carlsbad Beach!!!! Great property with lots of potential, one of the largest homes in this 55+ desirable mobile home park. Minimal Ocean View and amazing breezes. A/C, newer shed and appliances, newer tankless WH, and water filtration under kit sink. This home also has a very private yard with additional access through primary bedroom and lots of storage. Close to locked pedestrian gate. Lakeshore Gardens is a fun 55+ community with so many activities and ten lakes to walk in nature. No HOA or property taxes! No Rentals allowed!!

24. 2023-03-29
    listed $275,000 Active

    Show marketing remark (585 chars)

    Rare Triple Wide under $300k just blocks from the Carlsbad Beach!!!! Great property with lots of potential, one of the largest homes in this 55+ desirable mobile home park. Minimal Ocean View and amazing breezes. A/C, newer shed and appliances, newer tankless WH, and water filtration under kit sink. This home also has a very private yard with additional access through primary bedroom and lots of storage. Close to locked pedestrian gate. Lakeshore Gardens is a fun 55+ community with so many activities and ten lakes to walk in nature. No HOA or property taxes! No Rentals allowed!!

25. 2021-08-27
    soldstatus $189,000 Closed Sale
26. 2021-08-11
    status Pending Sale
27. 2021-08-09
    status Active
28. 2021-08-07
    status Pending Sale
29. 2021-08-04
    status Active
30. 2021-08-04
    price $189,000
31. 2021-07-23
    status Pending Sale
32. 2021-04-01
    listed $179,000 Active
33. 2011-08-09
    soldstatus $66,000
34. 2011-07-02
    listed $68,000

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥82°F today · 19 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: $74,077
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$1,475
• − Repairs & maintenance: −$5,926
• − Management: −$5,926
• − Depreciation: −$8,582
• Taxable income: $31,218
• Est. tax owed @ 24.0%: −$7,492
• After-tax cash flow: $26,564/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: 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

+333.8% since first listed

19 events — show timeline

• 2026-06-07 Price Changed $295,000 SDMLS
• 2026-05-12 Listed $315,000 SDMLS
• 2026-04-27 Listing Removed — SDMLS
• 2026-04-06 Price Changed $389,000 SDMLS
• 2026-03-05 Listed $395,000 SDMLS
• 2023-08-28 Sold (MLS) $240,000 SDMLS
• 2023-08-03 Pending — SDMLS
• 2023-07-08 Price Changed $250,000 SDMLS
• 2023-03-29 Listed $275,000 SDMLS
• 2021-08-27 Sold (MLS) $189,000 CRMLS
• 2021-08-11 Pending — CRMLS
• 2021-08-09 Relisted — CRMLS
• 2021-08-07 Pending — CRMLS
• 2021-08-04 Relisted — CRMLS
• 2021-08-04 Price Changed $189,000 CRMLS
• 2021-07-23 Pending — CRMLS
• 2021-04-01 Listed $179,000 CRMLS
• 2011-08-09 Sold (MLS) $66,000 CRMLS
• 2011-07-02 Listed $68,000 CRMLS