1048 C Street

1048 C Street

Dbottom 20%

Encinitas, CA 92024Neighborhood: Olivenhain

$2,699,000
NEW — 0d
STR-eligible · Encinitas, 3-night minimum · TOT 10%

1 licensed short-term rental within ½ mile (1 whole home), from the cities' license and permit lists of Nov 13, 2026.

Pass at asking: -$15,523/mo full cashflow at 20% down, 7.36% rate.

Works at $667,676 (75% under asking); even all cash loses money at asking.

Rent $6,627/mo from 14 leases of 3-bed houses within 2 mi ($6,654–$7,210).

Beds

3

Baths

2.5

Sqft

2,577

Year Built

1977

Days on Market

0

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2610242

This property is in Encinitas (92024). View neighborhood stats →

Virtual Tour

About This Property

A rare opportunity to reimagine something truly special in the heart of Olivenhain. Custom built in 1977 and offered for the first time by the original owner’s family, this distinctive, single-level home offers a unique canvas for those with vision. Featuring 3 bedrooms, plus an office, and 2.5 bathrooms, the home sits on a spacious lot with expansive easterly views enjoyed from nearly every room. While largely original and ready for its next chapter, the possibilities here are extraordinary. Envision transforming this unique property into an exceptional Olivenhain retreat, with room to expand, add a pool, or cultivate gardens. Enjoy fresh eggs from the chicken coop and an abundance of established fruit trees and vines, including pomegranate, citrus, dragon fruit, passion fruit, persimmon, peach, and plum. Beyond the property, enjoy Olivenhain’s miles of equestrian and walking trails, close-knit community, highly regarded schools such as OPE, and easy access to coastal communities and everyday conveniences. A rare opportunity to create something truly special in one of North County’s most desirable neighborhoods.

Mortgage Calculator

Est. Monthly Payment

$18,377

Principal & Interest$14,891
Property Tax$2,699
Insurance$787
%($539,800)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Olivenhain Pioneer Elementary · grades K-6 · Encinitas Union Elementary

  • Middle

    Diegueno Middle · grades 7-8 · San Dieguito Union High

  • High

    La Costa Canyon High · grades 9-12 · San Dieguito Union High

The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.

Investment Score

0D
Est. Monthly Rent
$6,627

14 leases of 3-bed houses within 2 mi · $6,654–$7,210

Blended 50/50 with the zip's market median ($6,431)

Monthly Cashflow

Rent − PITIA

-$11,750
Full Cashflow

Incl. vacancy, PM, maint, capex

-$15,523

What would make this work?

$15,523/mo short at 20% down; +$20,160/mo rent closes it.

Break-even price

75% under asking

$667,676
Break-even rent

$20,160/mo above the estimate

$26,787/mo
Cashflow at 35% down
−$12,731/mo
Down payment to break even

Negative even all-cash

Not reachable
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$14,891
Cap Rate
-0.13%
Cash-on-Cash
-34.51%
DSCR

Need ≥ 1.25 for DSCR loan

0.36

NOI (Annual)
-$3,612
Price-to-Rent

Lower = better for investors

33.9

* Modelled at 20% down, 7.36% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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DCashflow−$15,523/mo