1602 San Remo Place #201
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1602 San Remo Place #201

Dbottom 20%

Encinitas, CA 92024Neighborhood: Leucadia

$1,475,000
STR closed · Encinitas allows houses and duplexes only

4 licensed short-term rentals within ½ mile (3 whole home), from the cities' license and permit lists of Nov 4, 2026.

Pass at asking: -$9,035/mo full cashflow at 20% down, 7.49% rate.

Works at $303,546 (79% under asking); even all cash loses money at asking.

Rent $3,527/mo from 10 leases of 1-bed condos & townhomes within 2 mi ($3,699–$4,212).

Beds

1

Baths

1.5

Sqft

1,021

Year Built

2024

Days on Market

46

Property Type

Townhouse

HOA/mo

$374

MLS ID

260022950SD

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

Virtual Tour

About This Property

Just five minutes from the Pacific Ocean, welcome to VANTAGE, where the San Diego coast meets the countryside. Experience Encinitas from an entirely new perspective at Fox Point Farms, a one-of-a-kind coastal community built around a working organic farm, where farm-to-table experiences, wellness and connection are woven into everyday life. Among approximately 250 residences, fewer than a dozen enjoy views of both the farm and the Pacific, and VANTAGE is one of them. Positioned on a premium end-unit corner with no one above, this light-filled residence offers a front-row seat to both. As evening settles in, watch the sun disappear over the Pacific while golden light stretches across the farm below, a view that makes even an ordinary night at home feel extraordinary. Inside, thoughtful upgrades include custom built-ins, designer wallpaper, California Closets, blackout shades, smart-home features, paid solar, whole-home water softening and a beautifully remodeled primary bath. An expansive loft offers flexible space as an optional second bedroom, office, media room or private retreat. Life at Fox Point extends far beyond your front door. Live music, wellness experiences, seasonal gatherings and community events create a genuine sense of connection, while Encinitas Ranch Golf Course sits just across the street and the beach is minutes away. Farm, ocean, sunsets and community, all woven into a lifestyle unlike anything else in San Diego. Welcome to VANTAGE.

Mortgage Calculator

Est. Monthly Payment

$10,522

Principal & Interest$8,243
Property Tax$1,475
Insurance$430
HOA$374
%($295,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    El Camino Creek 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
$3,527

10 leases of 1-bed condos & townhomes within 2 mi · $3,699–$4,212

Blended 50/50 with the zip's market median ($3,110)

Monthly Cashflow

Rent − PITIA

-$6,995
Full Cashflow

Incl. vacancy, PM, maint, capex

-$9,035

What would make this work?

$9,035/mo short at 20% down; +$11,734/mo rent closes it.

Break-even price

79% under asking

$303,546
Break-even rent

$11,734/mo above the estimate

$15,261/mo
Cashflow at 35% down
−$7,490/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)
$8,243
Cap Rate
-0.50%
Cash-on-Cash
-36.75%
DSCR

Need ≥ 1.25 for DSCR loan

0.34

NOI (Annual)
-$7,392
Price-to-Rent

Lower = better for investors

34.9

* 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−$9,035/mo