1603 Frazier Avenue
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1603 Frazier Avenue

Dbottom 20%

Carlsbad, CA 92008Neighborhood: Olde Carlsbad

$4,198,000
NEW — 0d
STR closed · outside Carlsbad's Coastal Zone

0 licensed short-term rentals within ½ mile (0 whole home), from the cities' license and permit lists of Nov 3, 2026.

Pass at asking: -$24,985/mo full cashflow at 20% down, 7.49% rate.

Works at $958,702 (77% under asking); even all cash loses money at asking.

Rent $9,604/mo from 9 leases of houses within 1 mi, size-adjusted ($7,500–$9,742).

Beds

5

Baths

4.5

Sqft

4,356

Year Built

2016

Days on Market

0

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2609854

This property is in Carlsbad (92008). View neighborhood stats →

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About This Property

The crown jewel of the neighborhood. Set on a coveted corner parcel, 1603 Frazier combines timeless East Coast-inspired charm with sophisticated Southern California living. Finished in 2017 and extensively customized, this exceptionally private residence offers the craftsmanship and character of a custom home. Mature specimen trees, manicured landscaping, custom stonework and gates create an impressive arrival. Inside, natural light illuminates beautifully appointed interiors featuring wide-plank French oak flooring, extensive millwork, shiplap, crown molding, custom built-ins, designer lighting and striking steel-and-glass doors and windows, including a distinctive Dutch-style entry door. The kitchen and main living spaces open through expansive LaCantina doors to a spectacular outdoor retreat, while the adjoining dining area features a dramatic cathedral ceiling. The thoughtfully designed floor plan includes a main-level en suite bedroom, designer powder room and flexible poolside room ideal for an office, gym or retreat. Upstairs, the spacious primary suite features a luxurious bath with Carrara marble and an oversized glass-enclosed shower. Three additional bedrooms, including a private en suite, and a generous media lounge complete the upper level. Outdoors, a sparkling pool and spa with safety cover are complemented by a covered entertaining pavilion with a cathedral tongue-and-groove ceiling, fully equipped outdoor kitchen, fire table, heater, bistro lighting and multiple patios surrounded by lush landscaping. Additional highlights include a beautifully finished garage, custom mudroom, owned solar with Tesla battery storage, tankless water heaters, Lutron Caséta smart lighting, motorized shades, custom closets, FX Luminaire landscape lighting and Baldwin hardware. Limestone walkways, custom fencing and mature olive and fruit trees further distinguish the grounds. Just moments from the freeway, Carlsbad Village, beaches, dining, shopping and recreation, this exceptional residence offers remarkable privacy, extensive customization and effortless indoor-outdoor living in one of Carlsbad's most desirable coastal settings.

Mortgage Calculator

Est. Monthly Payment

$28,882

Principal & Interest$23,459
Property Tax$4,198
Insurance$1,224
%($839,600)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Magnolia Elementary · grades K-5 · Carlsbad Unified

  • Middle

    Valley Middle · grades 6-8 · Carlsbad Unified

  • High

    Sage Creek High · grades 9-12 · Carlsbad Unified

    or Carlsbad High · grades 9-12 · Carlsbad Unified

    Choice area: the district lets families here pick either school.

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. Outside Carlsbad's Coastal Zone, where short-term rentals are not allowed. See the rules

Investment Score

0D
Est. Monthly Rent
$9,604

9 leases of houses within 1 mi, size-adjusted · $7,500–$9,742

Monthly Cashflow

Rent − PITIA

-$19,277
Full Cashflow

Incl. vacancy, PM, maint, capex

-$24,985

What would make this work?

$24,985/mo short at 20% down; +$32,448/mo rent closes it.

Break-even price

77% under asking

$958,702
Break-even rent

$32,448/mo above the estimate

$42,052/mo
Cashflow at 35% down
−$20,586/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)
$23,459
Cap Rate
-0.30%
Cash-on-Cash
-35.71%
DSCR

Need ≥ 1.25 for DSCR loan

0.33

NOI (Annual)
-$12,541
Price-to-Rent

Lower = better for investors

36.4

* 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−$24,985/mo