4465 Highland Drive Drive
Dbottom 20%Carlsbad, CA 92008
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 →
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
Location
Loading map...
Comparable Properties
5 comps foundThis Property
$7,072
Comp Average
$6,846
3485 Ridgecrest
5bd / 3ba · 2,840 sqft · Single Family
$1.90M
Est. $6,744/mo
2285 Hillyer Street
5bd / 3ba · 2,842 sqft · Single Family
$1.90M
Est. $7,057/mo
3684 Maria Ln
5bd / 3ba · 2,960 sqft · Single Family
$2.25M
Est. $7,453/mo
3480 Charter Oak Road
5bd / 3ba · 2,473 sqft · Single Family
$2.17M
Est. $6,448/mo
4208 Park Dr
4bd / 4ba · 2,518 sqft · Single Family
$2.30M
Est. $6,527/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
20 leases of houses within 2 mi, size-adjusted · $5,694–$7,548
Blended 50/50 with the zip's market median ($7,800)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$18,427/mo short at 20% down; +$23,932/mo rent closes it.
- Break-even price
- $705,974
- Break-even rent
- $31,004/mo
- Cashflow at 35% down
- −$15,184/mo
- Down payment to break even
- Not reachable
- Rate to break even
- Not reachable
77% under asking
$23,932/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, 7.49% 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.
Open Full Calculator