1465 Neptune Avenue
Dbottom 20%Encinitas, CA 92024Neighborhood: Leucadia
75 licensed short-term rentals within ½ mile (61 whole home), from the cities' license and permit lists of Nov 3, 2026.
Pass at asking: -$16,890/mo full cashflow at 20% down, 7.49% rate.
Works at $485,203 (82% under asking); even all cash loses money at asking.
Rent $4,861/mo from 11 leases of 3-bed houses within 2 mi ($4,515–$5,761).
Beds
3
Baths
2
Sqft
1,031
Year Built
1957
Days on Market
0
Property Type
Single Family
HOA/mo
N/A
MLS ID
260026144SD
This property is in Encinitas (92024). View neighborhood stats →
About This Property
Neptune rarely gives you a shot like this. A quarter-acre parcel sitting right across from the Pacific, just a short walk to Grandview beach access, and it comes two ways. Want turnkey soon? Renovate the existing 3 bed, 2 bath home that's already standing. Want your forever place? A full set of new-construction plans is ready to go: a 4,500 square foot contemporary design from Beery Design Group, laid out for that easy Encinitas indoor outdoor living, with space for a pool and a proper yard. Here's what makes this different from any raw lot. The heavy lifting through the City of Encinitas and the California Coastal Commission is nearly finished, with only small items standing between you and construction. That means no two-year approval marathon and thousands of dollars kept in your pocket. Someone else already fought that battle for you. You get real seclusion here, but you're still minutes from the shops, food, and coastline that define this pocket of North County.
Mortgage Calculator
Est. Monthly Payment
$18,404
Location
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Zoned Schools
Elementary
Paul Ecke-Central 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
$4,861
Comp Average
$6,491
449 Alviso Way
3bd / 2ba · 1,368 sqft · Single Family
$2.00M
Est. $6,076/mo
1311 Walnutview Drive
3bd / 2ba · 1,633 sqft · Single Family
$1.95M
Est. $5,660/mo
1745 Whitehall Road
2bd / 2.5ba · 1,555 sqft · Single Family
$1.80M
Est. $6,323/mo
1547 Neptune
3bd / 2ba · 1,679 sqft · Single Family
$3.45M
Est. $7,147/mo
752 Bracero Road
3bd / 3.5ba · 1,846 sqft · Single Family
$2.80M
Est. $7,248/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
11 leases of 3-bed houses within 2 mi · $4,515–$5,761
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$16,890/mo short at 20% down; +$21,935/mo rent closes it.
- Break-even price
- $485,203
- Break-even rent
- $26,796/mo
- Cashflow at 35% down
- −$14,087/mo
- Down payment to break even
- Not reachable
- Rate to break even
- Not reachable
82% under asking
$21,935/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, 7.49% 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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