155 Rosebay Drive #37
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155 Rosebay Drive #37

Btop 30%

Encinitas, CA 92024Neighborhood: Old Encinitas

$550,000
STR closed · Encinitas allows houses and duplexes only

9 licensed short-term rentals within ½ mile (6 whole home), from the cities' license and permit lists of Nov 13, 2026.

Pass at asking: -$2,325/mo full cashflow at 20% down, 7.36% rate.

Works at $245,629 (55% under asking), or at 82% down.

Rent $2,963/mo from 10 leases of 1-bed condos & townhomes within 2 mi ($2,771–$3,252).

Beds

1

Baths

1

Sqft

630

Year Built

1980

Days on Market

45

Property Type

Condo

HOA/mo

$404

MLS ID

NDP2609021

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

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About This Property

Beautifully updated corner unit in Rosebay Falls, ideally located within the quiet interior of the community. This single-level 1BR/1BA, 630 SF condo enjoys a private setting surrounded by lush tropical landscaping and views of the community waterfall from the bedroom, kitchen and balcony. The light and bright open floor plan features wood floors and recessed lighting. The upgraded kitchen features white cabinetry, granite countertops, stainless steel appliances and a large counter with bar seating. The spacious bedroom offers a walk-in closet with built-ins, while the remodeled bathroom features custom tile and glass shower doors. This unit can accommodate an in-unit washer and dryer and also includes a reserved underground parking space and private storage locker, perfect for bikes, surfboards and other gear. Enjoy a low HOA of only $404 per month, including water and trash. Community amenities include a sunset viewing deck and laundry facilities. Located approximately 1.5 miles from Moonlight Beach and just minutes from Downtown Encinitas, restaurants, shopping, the Coaster and I-5. A rare opportunity to own a move-in-ready home in Encinitas at an exceptional price point.

Mortgage Calculator

Est. Monthly Payment

$4,149

Principal & Interest$3,034
Property Tax$550
Insurance$160
HOA$404
%($110,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Park Dale Lane Elementary · grades K-6 · Encinitas Union Elementary

  • Middle

    Oak Crest 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

45B
Est. Monthly Rent
$2,963

10 leases of 1-bed condos & townhomes within 2 mi · $2,771–$3,252

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$1,185
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,325

What would make this work?

$2,325/mo short at 20% down; 82% down or +$3,020/mo rent closes it.

Break-even price

55% under asking

$245,629
Break-even rent

$3,020/mo above the estimate

$5,983/mo
Cashflow at 35% down
−$1,756/mo
Down payment to break even

$451,000 cash

82%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$3,034
Cap Rate
1.87%
Cash-on-Cash
-25.37%
DSCR

Need ≥ 1.25 for DSCR loan

0.71

NOI (Annual)
$10,288
Price-to-Rent

Lower = better for investors

15.5

* 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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BCashflow−$2,325/mo