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581 Silver Berry Place

Ctop 80%

Encinitas, CA 92024Neighborhood: Old Encinitas

$899,000

STR closed · Encinitas allows houses and duplexes only

6 licensed short-term rentals within ½ mile (4 whole home), from the cities' license and permit lists of Oct 31, 2026.

Pass at asking: -$3,918/mo full cashflow at 20% down, 7.49% rate.

Works at $390,974 (57% under asking), or at 83% down.

Rent $4,332/mo from 8 leases of 2-bed condos & townhomes within 1 mi ($4,325–$4,873).

Beds

Baths

Sqft

929

Year Built

1999

Days on Market

Property Type

Condo

HOA/mo

$320

MLS ID

NDP2608653

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

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About This Property

Live the beach lifestyle in this charming 2-bed, 2-bath condo in the gated Saxony community, just minutes from Moonlight State Beach and a short drive to South Ponto. Enjoy peak ocean views and sunsets from the primary bedroom and private deck, high ceilings, laminate flooring, and a quiet, friendly community. Recent upgrades include new windows, an updated second bathroom, new baseboards, new stair carpet, and newly installed storage racks in the garage. Washer/dryer stay, plus a 1-car garage, assigned parking, and HOA amenities (pool, spa, dog park). This unit is located close to pool, in the center of the community. Close to top-rated schools, shopping, dining, and everything Encinitas has to offer!

Mortgage Calculator

Est. Monthly Payment

$6,505

Principal & Interest$5,024

Property Tax$899

Insurance$262

HOA$320

Down Payment

%($179,800)

Interest Rate

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.

Comparable Properties

5 comps found

This Property

$4,332

Comp Average

$3,884

1760 El Camino Real

2bd / 2ba · 906 sqft · Condo

$659K

Est. $3,591/mo

245 Fairlee

2bd / 2ba · 936 sqft · Condo

$745K

Est. $3,933/mo

1976 Fairlee Drive

2bd / 2ba · 936 sqft · Condo

$790K

Est. $3,933/mo

402 Bay Berry Pl

2bd / 2ba · 939 sqft · Condo

$965K

Est. $4,345/mo

1757 Pleasantdale

2bd / 2ba · 936 sqft · Condo

$895K

Est. $3,619/mo

Comps based on same zip code, similar beds (±1), price range (60-150%).

Short-term not available here. Encinitas allows short-term rentals only in single-family homes and duplexes. See the rules

Investment Score

28C

Est. Monthly Rent

$4,332

8 leases of 2-bed condos & townhomes within 1 mi · $4,325–$4,873

Blended 50/50 with the zip's market median ($4,146)

Monthly Cashflow

Rent − PITIA

-$2,173

Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,918

What would make this work?

$3,918/mo short at 20% down; 83% down or +$5,089/mo rent closes it.

Break-even price: $390,974
Break-even rent: $9,421/mo
Cashflow at 35% down: −$2,976/mo
Down payment to break even: 83%
Rate to break even: Not reachable

Mortgage (P+I)

$5,024

Cap Rate

1.76%

Cash-on-Cash

-26.15%

DSCR

Need ≥ 1.25 for DSCR loan

0.67

NOI (Annual)

$15,865

Price-to-Rent

Lower = better for investors

17.3

* 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−$3,918/mo