293 Via Del Cerrito
Dbottom 20%Encinitas, CA 92024Neighborhood: Olivenhain
2 licensed short-term rentals within ½ mile (2 whole home), from the cities' license and permit lists of Nov 13, 2026.
Pass at asking: -$19,396/mo full cashflow at 20% down, 7.36% rate.
Works at $961,962 (73% under asking); even all cash loses money at asking.
Rent $9,548/mo from 10 leases of 3–5 bed houses within 1 mi ($9,267–$11,897).
Beds
4
Baths
4.5
Sqft
4,286
Year Built
1969
Days on Market
0
Property Type
Single Family
HOA/mo
N/A
MLS ID
NDP2610243
This property is in Encinitas (92024). View neighborhood stats →
About This Property
OPPORTUNITY KNOCKS... Single level with ADU and panoramic 180 degree views of Olivenhain and RSF......Pool, large grassy areas, boat or RV storage areas, sheds and plenty of room for a pickleball court and much more...... Once-in-a-Lifetime hilltop location waiting for a refresh (this is a FIXER) with unobstructed, sweeping views. Situated on a 1.55-acre estate lot, this opportunity offers a rare combination of elevation, privacy, and a large flat yard area, perfect for entertaining. Wake up to golden sunrises over one of the most dramatic view settings available in coastal North County........Opportunity to renovate the existing single level 3,566 sf home and it's 720 sf ADU.......Seller is finalizing plans for a total refresh of the layout to include 4 bedrooms and 4.5 baths in the main house (ADU layout stays the same)...........plans could also include converting the current pool to be a pickleball court and adding a new pool on the view side of the property.......For sale only for a limited time in as-is condition! Mature citrus and fruit trees already thrive on the lower terraced area — expand the orchard, plant grape vines and cultivate your own vineyard, or lay out garden beds and outdoor living space.
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Est. Monthly Payment
$23,831
Location
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Zoned Schools
Elementary
Olivenhain Pioneer 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.
Renovation math
Flagged Fixer from the listing remarks — “fixer”, “as-is”.
- Asking now
- $3.50M
- Worth finished
- $3.30M
- Already above finished value
- −$204,568
$817/sqft
$769/sqft × 4,286 sqft
$48/sqft over
Comparable finished homes nearby suggest this is worth about $3.30M — below the asking price. A renovation here has to be funded out of the purchase, not the spread.
Rent once renovated
- Rent at par
- $11,458/mo
- Cashflow at that rent
- −$17,925/mo
$2.67/sqft × 4,286 sqft, median of 5 comps
cap rate 0.67%, DSCR 0.48
Buying at asking and achieving par rent, excluding the renovation spend itself. We don't publish a current-condition rent: no listing remark says how much work a home needs, and mid-renovation it earns nothing.
Based on 5 comparable homes of the same property type and size currently listed nearby — asking prices and modelled rents, not closed sales. A contractor's scope, not this page, decides what a renovation actually costs.
Comparable Properties
5 comps foundThis Property
$9,548
Comp Average
$11,366
136 Hummingbird
4bd / 3ba · 4,200 sqft · Single Family
$3.15M
Est. $11,683/mo
765 Val Sereno Drive
4bd / 2.5ba · 4,121 sqft · Single Family
$2.95M
Est. $10,453/mo
3105 Caminito Ricardo
5bd / 4ba · 4,422 sqft · Single Family
$3.40M
Est. $10,739/mo
772 Conestoga Ct Lot 7
4bd / 4.5ba · 4,660 sqft · Single Family
$4.00M
Est. $12,458/mo
1144 Hermes
5bd / 4ba · 3,963 sqft · Single Family
$4.00M
Est. $11,496/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
10 leases of 3–5 bed houses within 1 mi · $9,267–$11,897
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$19,396/mo short at 20% down; +$25,190/mo rent closes it.
- Break-even price
- $961,962
- Break-even rent
- $34,738/mo
- Cashflow at 35% down
- −$15,775/mo
- Down payment to break even
- Not reachable
- Rate to break even
- Not reachable
73% under asking
$25,190/mo above the estimate
Negative even all-cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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