735 Cornish Drive
1 / 7

735 Cornish Drive

C

Encinitas, CA 92024

$3,900,000
NEW — 2d

Soft Appraisal Value: $2,911,700 · 33.9% above estimate

Beds

3

Baths

1

Sqft

2,150

Year Built

1947

Days on Market

2

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2606166

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

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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.

Mortgage Calculator

Est. Monthly Payment

$24,758

Principal & Interest$19,721
Property Tax$3,900
Insurance$1,137
%($780,000)
%

Location

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Investment Score

0D
Est. Monthly Rent
$7,571
Monthly Cashflow

Rent − PITIA

$-17,187
Full Cashflow

Incl. vacancy, PM, maint, capex

$-22,178

Mortgage (P+I)
$19,721
Cap Rate
-0.76%
Cash-on-Cash
-34.12%
DSCR

Need ≥ 1.25 for DSCR loan

0.31
Break-even Rent
$36,373

NOI (Annual)
$-29,488
Price-to-Rent

Lower = better for investors

42.9

* Defaults: 20% down, 6.5% rate, 30yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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