1355 Rainbow Ridge Lane
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1355 Rainbow Ridge Lane

D

Encinitas, CA 92024

$4,000,000

Soft Appraisal Value: $3,959,600 · 1.0% above estimate

Beds

2

Baths

1

Sqft

1,170

Year Built

1950

Days on Market

50

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2602774

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

Virtual Tour

About This Property

Looking for outstanding views and acreage (1.72 Ac.), where vivid sunrises and dynamic sunsets are an everyday occurrence? This is it! First time on the market in over 50 years, opportunities like this are truly rare. Perched atop a hill with unbeatable backcountry views of Indian Head Canyon and Encinitas Ranch Golf Course, combined with excellent westerly views toward the ocean, this property offers a breathtaking setting from sunrise to sunset. This gated flag-lot parcel spans 1.72 acres in coastal Leucadia, offering exceptional privacy. You’ll be amazed by how much of the land is flat and usable, perfect for creating a legacy family compound, with the potential to subdivide into two oversized parcels. Current zoning is RR2 (Rural Residential—2 units per acre), with a minimum lot size of 21,500 sq. ft. The well-maintained original concrete block home has been tastefully updated over time and could potentially be retained as fantastic guest quarters. Located near the south end of Rainbow Ridge Lane, the property includes a clicker to a private gate providing convenient ingress and egress to the south, a luxury enjoyed only by this section of the street. This is a once-in-a-lifetime opportunity to enjoy the ultimate coastal lifestyle, with the beach just minutes away, along with great restaurants, shopping, and easy freeway access.

Mortgage Calculator

Est. Monthly Payment

$25,393

Principal & Interest$20,226
Property Tax$4,000
Insurance$1,167
%($800,000)
%

Location

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Investment Score

0D
Est. Monthly Rent
$4,218
Monthly Cashflow

Rent − PITIA

$-21,175
Full Cashflow

Incl. vacancy, PM, maint, capex

$-25,479

Mortgage (P+I)
$20,226
Cap Rate
-1.58%
Cash-on-Cash
-38.22%
DSCR

Need ≥ 1.25 for DSCR loan

0.17
Break-even Rent
$37,307

NOI (Annual)
$-63,030
Price-to-Rent

Lower = better for investors

79.0

* Defaults: 20% down, 6.5% rate, 30yr.

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

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