4444 Adams Street
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4444 Adams Street

Dbottom 20%

Carlsbad, CA 92008Neighborhood: Hedionda Point

$3,797,000
STR-eligible · Carlsbad Coastal Zone · TOT 10%

16 licensed short-term rentals within ½ mile (16 whole home), from the cities' license and permit lists of Nov 10, 2026.

Pass at asking: -$23,288/mo full cashflow at 20% down, 7.43% rate.

Works at $764,856 (80% under asking); even all cash loses money at asking.

Rent $7,629/mo from 9 leases of 3-bed houses within 2 mi ($7,347–$9,567).

Beds

3

Baths

3.5

Sqft

4,238

Year Built

1996

Days on Market

45

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2608961

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

Virtual Tour

About This Property

Perched above Agua Hedionda Lagoon, this exceptional Carlsbad residence enjoys sweeping views of the lagoon, coastline and Pacific Ocean from nearly every room. Designed to embrace its elevated setting, this extraordinary home offers expansive indoor-outdoor living, generous entertaining spaces and a rare sense of privacy—all minutes from Carlsbad Village, beaches, Coast Highway, I-5 and Highway 78. The main-level great room centers around a grand fireplace and opens through a frameless glass NanaWall system to a covered view deck, creating a seamless connection between the interior and the water beyond. Skylights, ceiling heaters, a built-in BBQ with sink and cabinetry, custom wall fountain, and copper fire table make the deck an inviting setting for everyday living, entertaining and sunset evenings. The remodeled and expanded kitchen is both functional and distinctive, featuring two oversized islands, custom copper apron-front workstation sinks, Sub-Zero refrigerator/freezer, Dacor six-burner gas cooktop with statement copper hood, double wall ovens, wine and beverage refrigeration, and a coffee/drink bar with copper nautilus-shell sink. Extensive cabinetry, pullouts, drawer storage, spice storage and an integrated desk maximize organization and usability. The spacious primary suite captures the same remarkable water views and includes a fireplace, room for a sitting area or home fitness space, and a well-appointed bath with a view-oriented shower, jetted tub and walk-in closet. The lower level adds valuable flexibility with a large bonus room overlooking the lagoon and ocean. Complete with a wet bar, mini refrigerator, nearby full bath and separate exterior entry, this space is well suited for guests, extended stays, media, office or additional living needs. A remodeled laundry room includes high-capacity LG washer and dryer, abundant storage and an oversized utility sink that can also serve as a pet-washing station. Outside, the lower patio features a SwimSpa with attached hot tub, water views and a copper-bowl fire pit. A recently completed cobblestone courtyard and imported French fountain create a memorable and private entry experience. Thoughtfully improved while still offering room to personalize, this is a rare opportunity to enjoy an elevated coastal lifestyle overlooking one of Carlsbad’s most scenic natural settings.

Mortgage Calculator

Est. Monthly Payment

$25,998

Principal & Interest$21,094
Property Tax$3,797
Insurance$1,107
%($759,400)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Kelly 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.

Investment Score

0D
Est. Monthly Rent
$7,629

9 leases of 3-bed houses within 2 mi · $7,347–$9,567

Monthly Cashflow

Rent − PITIA

-$18,369
Full Cashflow

Incl. vacancy, PM, maint, capex

-$23,288

What would make this work?

$23,288/mo short at 20% down; +$30,244/mo rent closes it.

Break-even price

80% under asking

$764,856
Break-even rent

$30,244/mo above the estimate

$37,873/mo
Cashflow at 35% down
−$19,333/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)
$21,094
Cap Rate
-0.57%
Cash-on-Cash
-36.80%
DSCR

Need ≥ 1.25 for DSCR loan

0.29

NOI (Annual)
-$21,749
Price-to-Rent

Lower = better for investors

41.5

* Modelled at 20% down, 7.43% 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−$23,288/mo