4465 Highland Drive Drive

4465 Highland Drive Drive

Dbottom 20%

Carlsbad, CA 92008

$3,095,000
NEW — 0d

Pass at asking: -$18,427/mo full cashflow at 20% down, 7.49% rate.

Works at $705,974 (77% under asking); even all cash loses money at asking.

Rent $7,072/mo from 20 leases of houses within 2 mi, size-adjusted ($5,694–$7,548).

Beds

5

Baths

2

Sqft

2,632

Year Built

1979

Days on Market

0

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2610002

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

Virtual Tour

About This Property

Panoramic ocean and lagoon views take center stage at 4465 Highland Drive. Set on a generous corner lot, this coastal Carlsbad property captures a spectacular outlook, pairing the ease of single-level living with a setting that makes every day feel special. Offered for the first time in 47 years, this lovingly maintained home presents a rare opportunity to create your own coastal retreat. Featuring five bedrooms, two bathrooms, and approximately 2,632 square feet of living space on an approximately 0.36-acre lot, the residence offers enduring character and room to bring your vision to life. The wraparound deck is a standout feature, an inviting place for morning coffee overlooking the water, outdoor dinners, and evenings spent taking in the panoramic ocean and lagoon views. The flexible five-bedroom layout provides space for guests, a home office, and everyday living. Enjoy the home’s original charm or introduce thoughtful updates to complement its extraordinary setting. Boat parking adds convenience for those drawn to life on the water, while the generous corner lot offers potential for an ADU, subject to city approval, permitting, and site requirements. With access to Carlsbad’s beaches, village shops, dining, and recreation, this property brings together views, space, and possibility. After nearly five decades, the opportunity has arrived to make this remarkable coastal setting your own.

Mortgage Calculator

Est. Monthly Payment

$21,293

Principal & Interest$17,296
Property Tax$3,095
Insurance$903
%($619,000)
%
Loan Term

Location

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Investment Score

0D
Est. Monthly Rent
$7,072

20 leases of houses within 2 mi, size-adjusted · $5,694–$7,548

Blended 50/50 with the zip's market median ($7,800)

Monthly Cashflow

Rent − PITIA

-$14,222
Full Cashflow

Incl. vacancy, PM, maint, capex

-$18,427

What would make this work?

$18,427/mo short at 20% down; +$23,932/mo rent closes it.

Break-even price

77% under asking

$705,974
Break-even rent

$23,932/mo above the estimate

$31,004/mo
Cashflow at 35% down
−$15,184/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)
$17,296
Cap Rate
-0.30%
Cash-on-Cash
-35.72%
DSCR

Need ≥ 1.25 for DSCR loan

0.33

NOI (Annual)
-$9,338
Price-to-Rent

Lower = better for investors

36.5

* 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−$18,427/mo