398 Andrew Avenue
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398 Andrew Avenue

Ctop 80%

Encinitas, CA 92024Neighborhood: Leucadia

$2,795,000
STR-eligible · Encinitas, 3-night minimum · TOT 10%

15 licensed short-term rentals within ½ mile (11 whole home), from the cities' license and permit lists of Nov 3, 2026.

Pass at asking: -$14,949/mo full cashflow at 20% down, 7.49% rate.

Works at $856,918 (69% under asking), or at 97% down.

Rent $8,584/mo from 20 leases of 3-bed houses within 2 mi ($7,300–$9,949).

Beds

3

Baths

2.5

Sqft

3,121

Year Built

1990

Days on Market

93

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2607263

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

Virtual Tour

About This Property

New price: now offered at $2,795,000. Discover a rare slice of coastal paradise in the heart of Leucadia, Encinitas’ beloved beachside enclave, now priced to move. Set on a peaceful cul-de-sac street, this two-story coastal home has room to breathe on a level, third-acre lot just west of I-5, with space to add a guest house or ADU. At 3,121 square feet, it is one of the larger homes in the neighborhood, offering three bedrooms downstairs plus a family room and game room that flex to fit your life: home gym, media room, playroom, or guest space. Owned solar and upgraded dual-paned French doors deliver comfort, quiet, and lower energy bills year-round. The entire upper level is built for entertaining. A light and bright open kitchen, bar, dining, and living space flows onto an extensive wraparound deck with peek ocean and sunset views, so the party and the coastal air are never more than a few steps away. Outside, the fenced backyard is level and private, with room to relax, entertain, or add a pool. The terraced side yard features a small vegetable garden with room to grow. A two-car attached garage offers EV charging and extra storage, and the circular driveway parks four more cars. Walk to the trails at Batiquitos Lagoon or bike to Grandview, the closest of the area’s renowned surf beaches, along with Beacons and Swami’s. Moonlight Beach and Encinitas Ranch Golf Course are minutes away. Renowned restaurants, cafés, and boutique shopping are part of the rhythm here, served by acclaimed schools. This much space, land, and lifestyle at this new price is an opportunity worth seeing soon. Come feel the good vibes, and make coastal Leucadia yours. Select photos digitally altered to remove upstairs bar and to illustrate a conceptual pool and spa design. No pool or spa currently exists on the property.

Mortgage Calculator

Est. Monthly Payment

$19,229

Principal & Interest$15,619
Property Tax$2,795
Insurance$815
%($559,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Capri 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.

Investment Score

5C
Est. Monthly Rent
$8,584

20 leases of 3-bed houses within 2 mi · $7,300–$9,949

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$10,645
Full Cashflow

Incl. vacancy, PM, maint, capex

-$14,949

What would make this work?

$14,949/mo short at 20% down; 97% down or +$19,414/mo rent closes it.

Break-even price

69% under asking

$856,918
Break-even rent

$19,414/mo above the estimate

$27,998/mo
Cashflow at 35% down
−$12,020/mo
Down payment to break even

$2,711,150 cash

97%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$15,619
Cap Rate
0.47%
Cash-on-Cash
-32.09%
DSCR

Need ≥ 1.25 for DSCR loan

0.45

NOI (Annual)
$13,197
Price-to-Rent

Lower = better for investors

27.1

* 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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CCashflow−$14,949/mo