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12604 Carmel Country Rd #22

Ctop 80%

Carmel Valley, CA 92130

$920,000

NEW — 0d

STR: check · no permits in this complex · TOT 11.75%

12 licensed short-term rentals within ½ mile (5 whole home), from the cities' license and permit lists of Nov 6, 2026.

No unit in this 36-unit complex holds a short-term rental license, so nothing shows its HOA allows them. Get the CC&Rs before counting on short-term income.

Pass at asking: -$4,916/mo full cashflow at 20% down, 7.43% rate.

Works at $279,893 (70% under asking), or at 97% down.

Rent $3,578/mo from 23 leases of 2-bed condos & townhomes within 0.5 mi ($3,365–$3,618).

Beds

Baths

2.5

Sqft

1,050

Year Built

1993

Days on Market

Property Type

Condo

HOA/mo

$605

MLS ID

260026357SD

This property is in Carmel Valley (92130). View neighborhood stats →

About This Property

Beautifully remodeled top-floor townhome offering the best of Carmel Valley living. Light and bright with vaulted ceilings, skylights, and an open-concept living and dining area. The updated kitchen and bathrooms feature stylish cabinetry and contemporary countertops. Two spacious primary bedroom suites provide comfort and privacy, with no neighbors above. Enjoy a spacious patio, perfect for outdoor entertaining and relaxing, plus a convenient two-car tandem garage with ample storage and a full in unit laundry. The beautifully maintained community offers two swimming pools and a fitness center. Ideally located just minutes from Del Mar Highlands Town Center and One Paseo, with premier dining, cafés, and luxury Cinépolis theaters. Enjoy convenient freeway access, nearby beaches, and top-rated schools.

Mortgage Calculator

Est. Monthly Payment

$6,904

Principal & Interest$5,111

Property Tax$920

Insurance$268

HOA$605

Down Payment

%($184,000)

Interest Rate

Loan Term

Location

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Zoned Schools

Elementary
Carmel Creek Elementary · grades K-3 · Solana Beach Elementary
Middle
Carmel Valley Middle · grades 7-8 · San Dieguito Union High
High
Torrey Pines 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 found

This Property

$3,578

Comp Average

$3,739

12630 Carmel Country Rd

2bd / 2.5ba · 1,116 sqft · Condo

$915K

Est. $4,075/mo

3887 Pell Pl.

2bd / 2ba · 1,052 sqft · Condo

$888K

Est. $3,560/mo

12610 Carmel Country Rd

2bd / 2.5ba · 1,116 sqft · Condo

$924K

Est. $3,851/mo

3631 Caminito Carmel Landing

2bd / 2ba · 1,066 sqft · Condo

$895K

Est. $3,600/mo

3521 Caminito Carmel Lndg

2bd / 2ba · 1,066 sqft · Condo

$900K

Est. $3,609/mo

Comps based on same zip code, similar beds (±1), price range (60-150%).

Investment Score

Est. Monthly Rent

$3,578

23 leases of 2-bed condos & townhomes within 0.5 mi · $3,365–$3,618

Blended 50/50 with the zip's market median ($3,607)

Monthly Cashflow

Rent − PITIA

-$3,326

Full Cashflow

Incl. vacancy, PM, maint, capex

-$4,916

What would make this work?

$4,916/mo short at 20% down; 97% down or +$6,384/mo rent closes it.

Break-even price: $279,893
Break-even rent: $9,962/mo
Cashflow at 35% down: −$3,957/mo
Down payment to break even: 97%
Rate to break even: Not reachable

Mortgage (P+I)

$5,111

Cap Rate

0.49%

Cash-on-Cash

-32.06%

DSCR

Need ≥ 1.25 for DSCR loan

0.52

NOI (Annual)

$4,492

Price-to-Rent

Lower = better for investors

21.4

* Modelled at 20% down, 7.43% 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.

Open Full Calculator

CCashflow−$4,916/mo