2516 San Elijo Cardiff By The Sea
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2516 San Elijo Cardiff By The Sea

Dbottom 20%

Cardiff-by-the-Sea, CA 92007Neighborhood: Cardiff-by-the-Sea

$6,995,000
STR-eligible · Encinitas, 3-night minimum · TOT 10%

15 licensed short-term rentals within ½ mile (14 whole home), from the cities' license and permit lists of Nov 13, 2026.

Pass at asking: -$44,193/mo full cashflow at 20% down, 7.36% rate.

Works at $1,212,135 (83% under asking); even all cash loses money at asking.

Rent $12,031/mo from 10 leases of 2–4 bed houses within 0.5 mi, same school area ($11,194–$13,627).

Beds

3

Baths

5

Sqft

4,185

Year Built

2025

Days on Market

45

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2609028

This property is in Cardiff-by-the-Sea (92007). View neighborhood stats →

Virtual Tour

About This Property

• Multi-Million-Dollar Renovation Completed in 2025 • Panoramic Pacific Ocean & San Elijo Lagoon Views • 4,185 SF of Interior Living Space • 2,000+ SF of Outdoor Living Space • Seamless Indoor-Outdoor Living • 4 Sub-zero Wine Fridges • Italian Bertazoni Appliances • Cedarwood Hot Tub • One of Cardiff's Most Coveted Coastal Locations. If you know Cardiff, chances are you know this house. Set in one of Cardiff-by-the-Sea’s most recognizable and sought-after locations, 2516 San Elijo Avenue is the kind of home you’ve driven or walked past and wondered about. Perched above the San Elijo Lagoon with panoramic views stretching to the Pacific Ocean and coastline beyond, it occupies a position that is extraordinarily difficult to replicate. Recently transformed through a multi-million-dollar renovation, the residence has been completely reimagined to take full advantage of its setting. Expansive floor-to-ceiling glass brings the lagoon, ocean, sunsets, and coastal landscape into nearly every major living space, while natural light and ocean breezes reinforce the effortless connection between indoors and out. More than 2,000 square feet of outdoor living creates an extension of the home itself, with two outdoor kitchens and two covered dining areas, an oversized cedarwood spa, offering multiple places to entertain, dine, and unwind against an exceptional coastal backdrop. Inside, bespoke craftsmanship and thoughtful contemporary design are found throughout. A sculptural statement staircase, refined finishes, integrated smart-home technology, and carefully considered details give the residence a sophisticated yet relaxed coastal character. Positioned at the pinnacle of the home on the top-floor entry level, the primary retreat captures some of the property’s most remarkable views. Beyond the residence itself, the location is what makes this opportunity so difficult to duplicate. Cardiff State Beach, beloved local restaurants and cafés, surf breaks, boutique shopping, and the trails of San Elijo Lagoon are all just moments away, placing some of the best of Cardiff living within easy reach. There are homes with exceptional views, homes with beautiful design, and homes in coveted locations. Rarely do all three come together like this. 2516 San Elijo Avenue is a rare opportunity to own one of Cardiff-by-the-Sea’s most distinctive residences—pairing an irreplaceable coastal setting, panoramic ocean and lagoon views, and a newly reimagined home in one of North County San Diego’s most sought-after locations.

Mortgage Calculator

Est. Monthly Payment

$47,628

Principal & Interest$38,593
Property Tax$6,995
Insurance$2,040
%($1,399,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Ada W. Harris Elementary · grades 3-6 · Cardiff 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.

Comparable Properties

1 comp found

This Property

$12,031

vs

Comp Average

$20,000

Comps based on same zip code, similar beds (±1), price range (60-150%).

Investment Score

0D
Est. Monthly Rent
$12,031

10 leases of 2–4 bed houses within 0.5 mi, same school area · $11,194–$13,627

Monthly Cashflow

Rent − PITIA

-$35,597
Full Cashflow

Incl. vacancy, PM, maint, capex

-$44,193

What would make this work?

$44,193/mo short at 20% down; +$57,394/mo rent closes it.

Break-even price

83% under asking

$1,212,135
Break-even rent

$57,394/mo above the estimate

$69,425/mo
Cashflow at 35% down
−$36,957/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)
$38,593
Cap Rate
-0.86%
Cash-on-Cash
-37.91%
DSCR

Need ≥ 1.25 for DSCR loan

0.25

NOI (Annual)
-$59,985
Price-to-Rent

Lower = better for investors

48.5

* 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.

Open Full Calculator
DCashflow−$44,193/mo