
735 Cornish Drive
Dbottom 20%Encinitas, CA 92024Neighborhood: Old Encinitas
31 licensed short-term rentals within ½ mile (23 whole home), from the cities' license and permit lists of Nov 11, 2026.
Pass at asking: -$22,867/mo full cashflow at 20% down, 7.43% rate.
Works at $922,660 (76% under asking); even all cash loses money at asking.
Rent $9,203/mo from 10 leases of 2–4 bed houses within 1 mi ($7,525–$13,235).
Beds
3
Baths
1
Sqft
2,150
Year Built
1947
Days on Market
137
Property Type
Single Family
HOA/mo
N/A
MLS ID
NDP2606166
This property is in Encinitas (92024). View neighborhood stats →
About This Property
Perched atop a sprawling near half-acre double lot in the coveted Encinitas Highlands, this rare west-of-I-5 property offers the best of coastal living with flexibility, income potential, and room to grow. Just moments from Moonlight Beach, Viewpoint Park, the Coaster Station, Encinitas Library, and the vibrant shops, restaurants, and cafés of Downtown Encinitas, the location is truly hard to beat. The light-filled single-level main residence features three bedrooms, one bath, original hardwood floors, wood-beam ceilings, a cozy wood-burning fireplace, and an expansive deck overlooking the property's lush grounds. Thoughtful updates over the years have preserved the home's charm while enhancing everyday comfort. A detached office provides the perfect space for working from home, pursuing creative passions, or creating a private wellness retreat. Adding to the property's versatility is a separate studio space with its own entrance, kitchenette, and full bath, along with a detached Quonset Hut residence tucked toward the rear of the property, creating valuable rental income opportunities, guest accommodations, or flexible living arrangements. The expansive lot offers an increasingly rare sense of space and privacy in the heart of Encinitas, with room to entertain, garden, relax, and enjoy the coastal lifestyle. For those seeking future possibilities, the property also presents exceptional long-term upside, including plans for a lot split with a striking architectural residence on the second lot, designed to complement the site's unique setting and scale. Whether you're looking for a charming beach-close home, an income-producing investment, a multigenerational property, or a legacy homesite for the future, opportunities like this rarely come available in one of Encinitas' most sought-after neighborhoods.
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Est. Monthly Payment
$26,704
Location
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Zoned Schools
Elementary
Paul Ecke-Central Elementary · grades K-6 · Encinitas Union Elementary
Middle
Oak Crest 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 foundThis Property
$9,203
Comp Average
$7,616
637 Sparta Drive
4bd / 4ba · 2,051 sqft · Single Family
$2.60M
Est. $8,006/mo
890 Passiflora Avenue
3bd / 2.5ba · 2,257 sqft · Single Family
$3.00M
Est. $8,209/mo
1044 Arcadia Rd
4bd / 2.5ba · 2,012 sqft · Single Family
$2.60M
Est. $7,110/mo
27 E Street
3bd / 3.5ba · 2,148 sqft · Single Family
$3.50M
Est. $7,528/mo
752 Bracero Road
3bd / 3.5ba · 1,846 sqft · Single Family
$2.80M
Est. $7,225/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
10 leases of 2–4 bed houses within 1 mi · $7,525–$13,235
Blended 50/50 with the zip's market median ($6,762)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$22,867/mo short at 20% down; +$29,697/mo rent closes it.
- Break-even price
- $922,660
- Break-even rent
- $38,900/mo
- Cashflow at 35% down
- −$18,804/mo
- Down payment to break even
- Not reachable
- Rate to break even
- Not reachable
76% under asking
$29,697/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, 7.43% 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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