7957 Blue Lake Drive
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7957 Blue Lake Drive

Ctop 80%

San Diego, CA 92119

$1,299,990
STR-eligible · San Diego Tier 3 · TOT 12.75%

One license per person in San Diego: whether you can hold it depends on you, not only the home.

5 licensed short-term rentals within ½ mile (3 whole home), from the cities' license and permit lists of Nov 13, 2026.

Pass at asking: -$5,784/mo full cashflow at 20% down, 7.36% rate.

Works at $543,129 (58% under asking), or at 85% down.

Rent $5,390/mo from 10 leases of 3–5 bed houses within 2 mi ($5,501–$5,970).

Beds

4

Baths

3

Sqft

2,364

Year Built

1964

Days on Market

49

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2608931

This property is in San Diego (92119). Browse neighborhood analytics →

Virtual Tour

About This Property

Seller concession for a rate buy down being offered to buyer! Welcome to 7957 Blue Lake Drive, a spacious 4-bedroom, 3-bath home in the desirable San Carlos community offering a flexible floor plan, inviting indoor-outdoor living, and a beautifully established backyard just minutes from Lake Murray. The light-filled main living area features a classic brick fireplace with wood-burning stove, crown molding, recessed lighting, and French doors that open directly to an expansive covered patio, creating a seamless extension of the living space for year-round dining and entertaining. The private backyard offers a generous lawn, mature landscaping, multiple seating areas, and a dedicated spa area surrounded by greenery. Inside, the kitchen provides abundant cabinetry and counter space and connects conveniently to the dining and living areas. One of the downstairs bedrooms is currently configured as an additional family/media room with extensive built-in cabinetry, offering versatility as a guest room, home office, playroom, or bedroom. Upstairs, the oversized primary bedroom provides plenty of room to create a comfortable retreat, while additional bedrooms and a flexible loft/office area offer even more usable space. Plantation shutters, ceiling fans, recessed lighting, thoughtful built-ins, and generous attic storage add function throughout the home. Ideally located near Lake Murray, Cowles Mountain, Mission Trails Regional Park, neighborhood shopping and dining, and convenient freeway access, this classic San Carlos home offers exceptional space, flexibility, and a backyard designed to enjoy the San Diego lifestyle.

Mortgage Calculator

Est. Monthly Payment

$8,851

Principal & Interest$7,172
Property Tax$1,300
Insurance$379
%($259,998)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Benchley/Weinberger Elementary · grades K-5 · San Diego Unified

  • Middle

    Pershing Middle · grades 6-8 · San Diego Unified

  • High

    Henry High · grades 9-12 · San Diego Unified

The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.

Investment Score

15C
Est. Monthly Rent
$5,390

10 leases of 3–5 bed houses within 2 mi · $5,501–$5,970

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$3,461
Full Cashflow

Incl. vacancy, PM, maint, capex

-$5,784

What would make this work?

$5,784/mo short at 20% down; 85% down or +$7,512/mo rent closes it.

Break-even price

58% under asking

$543,129
Break-even rent

$7,512/mo above the estimate

$12,902/mo
Cashflow at 35% down
−$4,440/mo
Down payment to break even

$1,104,992 cash

85%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$7,172
Cap Rate
1.53%
Cash-on-Cash
-26.70%
DSCR

Need ≥ 1.25 for DSCR loan

0.61

NOI (Annual)
$19,890
Price-to-Rent

Lower = better for investors

20.1

* Modelled at 20% down, 7.36% 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−$5,784/mo