135 Redwood
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135 Redwood

Dbottom 20%

Carlsbad, CA 92008Neighborhood: North Beach

$5,650,000
STR-eligible · Carlsbad Coastal Zone · TOT 10%

65 licensed short-term rentals within ½ mile (65 whole home), from the cities' license and permit lists of Nov 13, 2026.

Pass at asking: -$35,739/mo full cashflow at 20% down, 7.36% rate.

Works at $973,496 (83% under asking); even all cash loses money at asking.

Rent $9,662/mo from 17 leases of houses within 2 mi, size-adjusted ($7,500–$10,228).

Beds

6

Baths

5.5

Sqft

4,409

Year Built

2002

Days on Market

230

Property Type

Single Family

HOA/mo

N/A

MLS ID

PW26066248

This property is in Carlsbad (92008). View neighborhood stats →

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About This Property

Welcome to coastal luxury living at its finest in the heart of Carlsbad. This completely renovated and upgraded 6 bedroom, 6 bathroom estate spans approximately 4,400 square feet of thoughtfully designed living space, offering the perfect blend of elegance, comfort, and modern sophistication.  With stunning ocean views and twenty yards from the beach, this home greets you with an abundance of natural light, soaring ceilings, and seamless indoor-outdoor flow.The open-concept floor plan, including ocean views inside and out with glass railings, features a chef’s kitchen equipped with Wolf and Sub-Zero appliances, custom cabinetry, and an oversized island that opens to expansive living and dining areas—ideal for both entertaining and everyday living. Perfect for large families or entertaining. Each bedroom is generously sized, with 2 en-suite bathrooms that have been beautifully updated. The primary suite serves as a private retreat, complete with breathtaking ocean vistas, a spa-inspired bathroom, and a spacious walk-in closet.Outdoor living includes a wrap-around deck, built in Wolf grilling station, outdoor shower, seven on-site parking spots along with a pristine spacious 3-car garage with wall to wall cabinets and overhead storage. In addition to Carlsbad being the #2 ranked public school system in the nation, #4 ranked beach in California and top 15 in the country to raise a family or retire, this exceptional home is walking distance from Michelin starred restaurants, shopping and nightlife, surfing, swimming, kayaking or fishing, and a short drive to LegoLand, world class golf, an airport a train station, offering the ultimate coastal lifestyle. Don’t miss the opportunity to own a turnkey ocean-view masterpiece in one of North County’s most sought-after communities.

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Est. Monthly Payment

$38,470

Principal & Interest$31,172
Property Tax$5,650
Insurance$1,648
%($1,130,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Jefferson Elementary · grades K-5 · Carlsbad Unified

  • Middle

    Valley Middle · grades 6-8 · Carlsbad Unified

  • High

    Sage Creek High · grades 9-12 · Carlsbad Unified

    or Carlsbad High · grades 9-12 · Carlsbad Unified

    Choice area: the district lets families here pick either school.

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
$9,662

17 leases of houses within 2 mi, size-adjusted · $7,500–$10,228

Monthly Cashflow

Rent − PITIA

-$28,808
Full Cashflow

Incl. vacancy, PM, maint, capex

-$35,739

What would make this work?

$35,739/mo short at 20% down; +$46,414/mo rent closes it.

Break-even price

83% under asking

$973,496
Break-even rent

$46,414/mo above the estimate

$56,076/mo
Cashflow at 35% down
−$29,894/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)
$31,172
Cap Rate
-0.87%
Cash-on-Cash
-37.95%
DSCR

Need ≥ 1.25 for DSCR loan

0.25

NOI (Annual)
-$49,002
Price-to-Rent

Lower = better for investors

48.7

* 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−$35,739/mo