350 N El Camino Real #26 · Encinitas, CA 92024

$449,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured · 36 Days on market

Built 2024 Good condition Est $412k · 9% over

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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 +18.4/30.0
• Schools +7.1/10.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• ARV discount +3.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Modern Coastal Living | Green Valley Mobile Estates (55+) – Encinitas, CA Refined coastal living awaits in this beautifully upgraded, custom-designed 2024 Silvercrest BD-07 Energy Star home. Privately situated to capture unobstructed mountain views and cool ocean breezes just beyond the fog line, this residence offers an exceptional blend of comfort, efficiency, and style. Set within a sought-after 55+ community (primary resident 55+, secondary 45+; park approval required; no rentals), this home presents a rare opportunity to own a newer, energy-efficient property in Encinitas at an attainable price point. Completed January 30, 2024, and protected by a 7-year construction warranty, th

Key facts

• Quartz countertops
• 2 garage spots
• Community pool

Tags

• UNOBSTRUCTED MOUNTAIN VIEWS
• ENERGY EFFICIENT PROPERTY
• OPEN-CONCEPT FLOOR PLAN
• QUARTZ COUNTERTOPS
• APRON-FRONT FARMHOUSE SINK
• EXPANSIVE KITCHEN ISLAND

Property features AI

Finance

• Other: Park name: Green Valley Mobile Estates; Pets allowed with breed restrictions; One shed on property
• Financial info: Land lease (monthly) applies
• HOA & community: Located in a senior community; Community features include golf course access, dog park, hiking, watersports, preserve/public land, urban conveniences, storm drains

Exterior

• Parking: Two garage spaces; Two carport spaces (attached); Covered parking; Assigned parking; Driveway (concrete, driveway level); RV access/parking available (fee applies)
• Security: Security lights; Resident manager
• Utilities: District/public water connected; Sewer connected (sewer paid); Natural gas connected; Electricity connected (220V throughout, 220V for spa, 220V in laundry); Cable connected; Telephone available in street; Underground utilities
• Home design: Single-story home; Entry at level 1; Faces east; Mobile home model BD-07 (upgraded); Turnkey condition; Has view; Accessibility features: 36"+ halls, 32"+ doors, no interior steps, multiple access exits, entry slope <1 foot
• Construction: Composition/fiberglass fire-retardant roof; Cement board siding; Drywall interior walls; Slump block and stacked block elements; Sealed ducting and radiant barrier; Concrete perimeter foundation with seismic tie-down and pier jacks; FHA approved foundation features; Quake bracing
• Exterior features: Concrete patios and open porch; Rain gutters; Exterior lighting; Awning; Patio slab; Community heated/exercise pool (gunite, fenced); Association spa (in-ground, gunite); Storage building / shed; Concrete or block skirting; Landscaped yard with sprinkler system; Back yard; Level with street lot; Sidewalks; Street lighting

Interior

• Kitchen: Kitchen open to family room; Kitchen island; Quartz counters; Self-closing cabinet doors and drawers; Gas & electric range; Gas oven; Self-cleaning oven; Range/stove hood; Microwave; Refrigerator; Dishwasher; Garbage disposal; Ice maker; Water line to refrigerator; Water purifier; Energy-efficient appliances; Water softener
• Bedrooms: Primary bedroom; Primary suite; All bedrooms on one level; Office (can be used as bedroom-sized room)
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms; Soaking tub; Separate tub and walk-in shower; Double sinks in master bath; Bidet; Closet in bathroom; Linen closet/storage; Exhaust fan(s); Low-flow toilets; Vanity area; Granite counters
• Heating & cooling: Central heating (natural gas furnace); Energy Star heating; Central cooling; Whole house fan; Gas cooling components; SEER 16+ rated system; Energy Star cooling
• Interior features: Crown moldings; Partially furnished; Wired for data; Ceiling fan(s); Recessed lighting; Open floor plan; Storage space; Cathedral or vaulted ceilings; Granite counters; Sliding glass door(s); Energy Star doors; Storm doors; Double-pane and low-emissivity windows; Skylights; Blinds and screens; Energy Star windows; Energy Star water heater
• Laundry & utility: Dedicated laundry room; Washer hookup; Gas and electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $449k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $445k (0.8% below list).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: 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; 19 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 34% 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.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $26k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $435,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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: 0.99% ✗
• Cap rate: 7.41%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $411,840
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 N El Camino Real Real #18	0.00mi	2/2.0 (-1)	1,250 (+0%)	11mo	$180,000	$144	85
444 N El Camino Real #47	0.13mi	2/2.0 (-1)	1,328 (+6%)	2mo	$438,500	$330	76
444 N El Camino Real #119	0.13mi	2/2.0 (-1)	1,368 (+10%)	3mo	$650,000	$475	70
444 El Camino Real N #96	0.13mi	2/2.0 (-1)	1,368 (+10%)	7mo	$440,000	$322	67
444 N El Camino Real Real #26	0.13mi	2/2.0 (-1)	1,344 (+8%)	14mo	$430,000	$320	64
444 N El Camino Real N Spc 61	0.13mi	2/2.0 (-1)	1,344 (+8%)	22mo	$445,000	$331	58
444 N El Camino Real #49	0.13mi	2/2.0 (-1)	1,400 (+12%)	18mo	$469,900	$336	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: -7.4%
• Equity multiple: 0.72×
• Total profit: $-35,210
• Equity at exit: $66,947

10-year hold

• IRR: 5.0%
• Equity multiple: 1.41×
• Total profit: $51,016
• Equity at exit: $38,821

Cash invested: $125,720 (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: 205
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $4,455 high
• Mortgage (P&I): −$2,355
• Tax est. 1.5%: −$561 /mo · $6,735/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$935
• Net cashflow: $416

Break-even live

Break-even rent $3,928

Max offer price $449,000

Occupancy floor 86%

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 19 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	0.48mi
155 Rosebay Dr #45 Encinitas, CA	2.0	1.0	925	$3,000	$3.24	1d	1	0.57mi
1190 Encinitas Blvd Encinitas, CA	1.0–2.0	1.0–2.0	799	$3,100	$3.88	1d	4	0.58mi
117 Rosebay Dr Encinitas, CA	2.0	2.0	1000	$2,900	$2.90	1d	3	0.64mi
820 Encinitas Blvd #202 Encinitas, CA	2.0	1.0	1060	$3,000	$2.83	19d	1	0.68mi
924 Encinitas Blvd Encinitas, CA	1.0–2.0	1.0–2.0	800	$2,945	$3.68	1d	3	0.69mi
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	11d	1	1.11mi
1101 Catania Ct Unit 202 Encinitas, CA	2.0	2.0	1057	$5,400	$5.11	11d	1	1.12mi
1101 Catania Ct Unit 104 Encinitas, CA	2.0	2.0	940	$5,250	$5.59	1d	1	1.12mi
1103 Catania Ct Unit 104 Encinitas, CA	2.0	2.0	940	$5,500	$5.85	1d	1	1.13mi
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
283 Mangano Cir Unit 283 Encinitas, CA	2.0	2.0	900	$3,300	$3.67	4d	1	1.29mi
2033 Red Coach Ln Encinitas, CA	3.0	2.0	1014	$5,250	$5.18	17d	1	1.32mi
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 12 events

1. 2026-06-09
   days on market $449,000 Active 36 DOM
2. 2026-06-08
   days on market $449,000 Active 35 DOM
3. 2026-06-07
   days on market $449,000 Active 34 DOM
4. 2026-06-04
   days on market $449,000 Active 31 DOM
5. 2026-06-03
   days on market $449,000 Active 30 DOM
6. 2026-06-02
   days on market $449,000 Active 29 DOM
7. 2026-06-01
   days on market $449,000 Active 28 DOM
8. 2026-05-31
   days on market $449,000 Active 27 DOM
9. 2026-05-04
   listed $475,000 Active
10. 2025-03-17
    historical
11. 2025-02-20
    price $469,000
12. 2025-01-20
    listed $479,000 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: $53,456
• − Mortgage interest: −$25,151
• − Property taxes: −$6,735
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,277
• − Management: −$4,277
• − Depreciation: −$13,062
• Taxable loss: −$2,290
• Est. tax savings @ 24.0%: +$549
• After-tax cash flow: $5,545/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This modern, energy-efficient home in a 55+ community offers a blend of comfort and style with a well-maintained interior and exterior. Smart home features and landscaping improvements can further enhance its value.

Value-add opportunities

• Both Smart home automation system — Enhances comfort and energy efficiency.
• Both Landscaping improvements — Enhances curb appeal and outdoor living space.
• Both Smart security system — Improves safety and convenience for potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Smart home automation system — Enhances comfort and energy efficiency. ↑
• Both Landscaping improvements — Enhances curb appeal and outdoor living space. ↑
• Both Smart security system — Improves safety and convenience for potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-0.8% since first listed

4 events — show timeline

• 2026-05-04 Listed $475,000 CRMLS
• 2025-03-17 Listing Removed — CRMLS
• 2025-02-20 Price Changed $469,000 CRMLS
• 2025-01-20 Listed $479,000 CRMLS