699 N Vulcan Ave #56 · Encinitas, CA 92024

$184,999

1 bd · 1.0 ba · 543 sqft · Manufactured public records · 65 Days on market

Built 2010 1,800 sqft lot Est $165k · 12% over ↓ 10% 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
• Schools +7.1/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Riviera Mobile Home Park in the heart of Leucadia. This immaculate 1-bedroom/1 bath residence offers 560 square feet of comfortable living space. The open layout feels spacious and inviting. Large shed is included for storage or use as a workshop. Just blocks from multiple beach access points and all the shops, dining, and charm that Leucadia is known for, the location is unbeatable. Riviera Mobile Home Park also features desirable community amenities, including a clubhouse, game room, and sparkling pool. A true turnkey opportunity, ideal for a primary residence or coastal retreat. Call now! SN: DJ710104Z

Key facts

• Clubhouse
• Community amenities
• Beach access points

Tags

• LARGE SHED
• BEACH ACCESS POINTS
• COMMUNITY AMENITIES
• CLUBHOUSE
• GAME ROOM

Property features AI

Finance

• Other: Lot size estimated; Lot dimensions listed as 1800 (source estimated)
• Financial info: Assessments: Unknown
• HOA & community: Land lease community (Riviera); Monthly land lease: $2,030; Community features: biking, hiking; Manager approval required; Pets allowed

Exterior

• Parking: Carport; Two parking spaces (includes 2 carport spaces); Park name: Riviera
• Utilities: Electricity connected
• Home design: Single-story mobile home (Pineridge model); Mobile home remains on site; Turnkey condition; Facing/has a view; Entry on main level
• Construction: Composition roof; Mobile home, approximately 14' x 40'
• Exterior features: Community pool; Park nearby; Lot level/flat; One storage shed

Interior

• Kitchen: Gas cooking; Garbage disposal; Microwave; Refrigerator; Free‑standing range; Water heater unit
• Bedrooms: All bedrooms on ground level
• Flooring: Laminate flooring
• Bathrooms: Walk-in shower; Shower (standard)
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Ceiling fan; One-level layout; Entry on main level
• Laundry & utility: Inside laundry room; Individual laundry room; Washer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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; 6 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $52k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.

Recommended offer $173,899 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.62% ✓
• Cap rate: 13.37%
• Cash-on-cash: 25.29%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $165,072
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
699 N Vulcan Ave #43	0.00mi	1/1.0	560 (+3%)	19mo	$170,000	$304	79
699 N Vulcan Ave #73	0.04mi	1/1.0	504 (-7%)	19mo	$150,000	$298	70
123 Jasper St #16	0.31mi	2/1.0 (+1)	600 (+10%)	2mo	$405,000	$675	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: 21.5%
• Equity multiple: 1.91×
• Total profit: $46,982
• Equity at exit: $27,584

10-year hold

• IRR: 31.2%
• Equity multiple: 4.14×
• Total profit: $162,456
• Equity at exit: $15,995

Cash invested: $51,800 (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: 5.1×

Monthly cashflow live

• Estimated rent: $3,000 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $1,092

Break-even live

Break-even rent $1,618

Max offer price $184,999

Occupancy floor 59%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
925 N Vulcan Ave Encinitas, CA	1.0	1.0	590	$2,872	$4.87	24d	2	0.22mi
1075 N Vulcan Ave Unit 05 Encinitas, CA	1.0	1.0	550	$2,471	$4.49	1d	1	0.40mi
1435 N Vulcan Ave Apt 9 Encinitas, CA	1.0	1.0	750	$2,995	$3.99	7d	1	0.75mi
1967 N Vulcan Ave Encinitas, CA	1.0–2.0	1.0–2.0	929	$3,895	$4.19	1d	7	1.42mi
116 Quail Gardens Dr Encinitas, CA	1.0	1.0	540	$2,612	$4.84	1d	3	1.49mi
810 3rd St Encinitas, CA	1.0	1.0	650	$2,695	$4.15	1d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $184,999 Active 65 DOM
2. 2026-06-17
   days on market $184,999 Active 64 DOM
3. 2026-06-16
   days on market $184,999 Active 63 DOM
4. 2026-06-15
   days on market $184,999 Active 62 DOM
5. 2026-06-13
   days on market $184,999 Active 60 DOM
6. 2026-06-13
   days on market $184,999 Active 59 DOM
7. 2026-06-09
   days on market $184,999 Active 56 DOM
8. 2026-06-08
   days on market $184,999 Active 55 DOM
9. 2026-06-07
   days on market $184,999 Active 54 DOM
10. 2026-06-04
    days on market $184,999 Active 51 DOM
11. 2026-06-03
    days on market $184,999 Active 50 DOM
12. 2026-06-02
    days on market $184,999 Active 49 DOM
13. 2026-06-01
    days on market $184,999 Active 48 DOM
14. 2026-05-31
    days on market $184,999 Active 47 DOM
15. 2026-05-22
    price $184,999
16. 2026-04-12
    listed $204,500 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 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: $36,002
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − Depreciation: −$5,382
• Taxable income: $10,797
• Est. tax owed @ 24.0%: −$2,591
• After-tax cash flow: $10,509/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

-9.5% since first listed

2 events — show timeline

• 2026-05-22 Price Changed $184,999 CRMLS
• 2026-04-12 Listed $204,500 CRMLS

Property tax history

-7.2%/yr

Latest (2013): $295 · +0.9% YoY. Source: county tax records.