1048 C Street
Dbottom 20%Encinitas, CA 92024Neighborhood: Olivenhain
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 →
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
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.
Comparable Properties
5 comps foundThis Property
$6,627
Comp Average
$8,083
1243 Saxony Road
4bd / 3ba · 2,294 sqft · Single Family
$1.95M
Est. $8,577/mo
1761 Gascony Road
3bd / 2.5ba · 2,262 sqft · Single Family
$2.00M
Est. $7,171/mo
808 Palaro Drive
4bd / 3ba · 2,553 sqft · Single Family
$2.69M
Est. $8,015/mo
398 Andrew Avenue
3bd / 2.5ba · 3,121 sqft · Single Family
$2.79M
Est. $8,341/mo
890 Passiflora Avenue
3bd / 2.5ba · 2,257 sqft · Single Family
$3.00M
Est. $8,311/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
14 leases of 3-bed houses within 2 mi · $6,654–$7,210
Blended 50/50 with the zip's market median ($6,431)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$15,523/mo short at 20% down; +$20,160/mo rent closes it.
- Break-even price
- $667,676
- Break-even rent
- $26,787/mo
- Cashflow at 35% down
- −$12,731/mo
- Down payment to break even
- Not reachable
- Rate to break even
- Not reachable
75% under asking
$20,160/mo above the estimate
Negative even all-cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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