1477 Neptune Avenue
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1477 Neptune Avenue

Dbottom 20%

Encinitas, CA 92024Neighborhood: Leucadia

$4,325,000
STR closed · Encinitas allows houses and duplexes only

79 licensed short-term rentals within ½ mile (66 whole home), from the cities' license and permit lists of Nov 1, 2026.

Pass at asking: -$27,375/mo full cashflow at 20% down, 7.49% rate.

Works at $775,906 (82% under asking); even all cash loses money at asking.

Rent $7,772/mo from 8 leases of 4-bed houses within 2 mi ($7,568–$10,082).

Beds

4

Baths

2.5

Sqft

2,382

Year Built

2001

Days on Market

180

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2604277

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

About This Property

Experience the ultimate coastal lifestyle on Leucadia's most iconic street. Stunning, white water ocean view home, with unique architecture inspired by the natural curve of the waves-blending refined elegance with a laid-back coastal feel. Enter through the grand entrance to the upper level and you’re immediately drawn forward—as if the home itself is guiding you to the view. An expansive deck spanning the width of the home, allows sunlight to pour through walls of glass-the ocean becomes the focal point. At the heart of the home, the great room offers open concept design seamlessly connecting living, dining, and kitchen spaces suited for cooking, entertaining, or quiet evenings by the fireplace. The gourmet kitchen features custom cabinetry, attached oversized granite island with prep sink, professional-grade appliances and pantry-creating a space both beautiful and functional. The primary suite is a serene retreat, complete with walk-in closet, and private balcony where mornings begin with the sound and sight of the ocean. The en suite bath is equally indulgent, with dual vanities, a jetted bathtub, spacious shower and a sunlit dome fills the space with natural light. On the ground level, three beautifully appointed bedrooms, with ocean views, open through sliding glass doors to a terraced stone patio. A full bathroom and laundry room with sink, add everyday convenience. After a morning surf or beach walk, rinse off in the outdoor shower-perfect for salty hair and sandy toes. Owned Solar and a Tesla charger complete the home, blending sustainability with modern luxury. On Neptune, spectacular sunsets become a celebration, and life unfolds with effortless access to epic surf, beaches, boutiques, award winning dining, craft breweries, fitness studios and coffee houses-capturing the essence of the Leucadia lifestyle.

Mortgage Calculator

Est. Monthly Payment

$29,756

Principal & Interest$24,169
Property Tax$4,325
Insurance$1,261
%($865,000)
%
Loan Term

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.

Short-term not available here. Encinitas allows short-term rentals only in single-family homes and duplexes. See the rules

Investment Score

0D
Est. Monthly Rent
$7,772

8 leases of 4-bed houses within 2 mi · $7,568–$10,082

Blended 50/50 with the zip's market median ($7,509)

Monthly Cashflow

Rent − PITIA

-$21,983
Full Cashflow

Incl. vacancy, PM, maint, capex

-$27,375

What would make this work?

$27,375/mo short at 20% down; +$35,552/mo rent closes it.

Break-even price

82% under asking

$775,906
Break-even rent

$35,552/mo above the estimate

$43,324/mo
Cashflow at 35% down
−$22,843/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)
$24,169
Cap Rate
-0.78%
Cash-on-Cash
-37.98%
DSCR

Need ≥ 1.25 for DSCR loan

0.26

NOI (Annual)
-$33,806
Price-to-Rent

Lower = better for investors

46.4

* 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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DCashflow−$27,375/mo