Address not disclosed · Carlsbad
Dbottom 20% of multifamilyCarlsbad, CA 92008Neighborhood: Carlsbad Village
11 licensed short-term rentals within ½ mile (11 whole home), from the cities' license and permit lists of Nov 10, 2026.
Pass at asking: -$10,014/mo full cashflow at 20% down, 7.43% rate.
Works at $696,177 (65% under asking), or at 93% down.
Rent $6,944/mo: 2 units of about 686 sqft, each priced from up to 20 closed leases within 1 mi ($5,594–$7,866).
Beds
—
Baths
—
Sqft
1,372
Year Built
1940
Days on Market
45
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
NDP2608952
This property is in Carlsbad (92008). View neighborhood stats →
About This Property
Rare opportunity to own a turnkey, fully furnished duplex west of I-5 in the heart of Carlsbad Village. Comprehensively renovated in 2024, the property features two furnished residences, both currently leased, situated on an expansive approximately 9,276 SF lot. The property offers a unique combination of immediate income and future flexibility for an owner-user, second home, extended family, business partners, or investment. Designed for indoor-outdoor coastal living, the property features private outdoor spaces and a large landscaped backyard with mature landscaping, garden areas, fire pit, and enclosed entertaining bar. Walk to the beach, restaurants, cafés, shopping, and everything Carlsbad Village has to offer. An exceptional opportunity to own a flexible coastal property in one of North County San Diego's most desirable communities. Investment Highlights ?- Two Fully Furnished Residences | Both Leased Long-Term ?- $105,000 Annual In-Place Rental Income ?- Renovated in 2024 | Updated Electrical & Plumbing ?- 9,276 SF Lot with Expansive Landscaped Backyard ?- Indoor-Outdoor Living | Fire Pit & Entertaining Areas ?- Private Outdoor Spaces & In-Unit Laundry ?- West of I-5 | Walk to Beach, Dining & Carlsbad Village *Property is tenant occupied. Please do not disturb tenants or walk the property.* All showings by appointment only through listing broker. Buyer to independently verify all information including square footage, rents, zoning, permitted uses, development potential and short-term rental regulations.
Small multifamily · 2 units
Valued on income: each unit priced from closed leases nearby, then added up. The listing says 2 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~686 sqft · 20 leases within 1 mi | 2 | $3,472 | $6,944 |
| Gross rent, all units | $6,944/mo | ||
- Gross rent multiplier
- 24.0
- Price per unit
- $1,000,000
- NOI (a year)
- $17,333
- Cap rate
- 0.87%
Price ÷ a year's gross rent
Median $525,000 across 89 listed 2–4 unit buildings in San Diego County
Default vacancy, management, upkeep, tax, insurance
Its grade compares it with other multifamily listings only: a building valued on income isn't ranked against houses and condos.
House hack with FHA
Live in the one unit, rent the other 1.
- Down payment
- $586,650
- Your cost to live there
- $12,143/mo
- More than renting it
- $8,671/mo
29.3% · plus closing costs
After $3,472/mo from the other unit
vs $3,472/mo to rent the same unit
How this is figured
- Loan $1,438,084 ($1,413,350 + 1.75% upfront mortgage insurance) at 7.18% (Freddie Mac 30-year average, week of Nov 5, 2026), 30 years: $9,742/mo
- FHA mortgage insurance $824/mo · property tax $2,000/mo · insurance $583/mo
- Vacancy, management and capex on the rented units, upkeep on the building: $2,465/mo
- FHA allows 3.5% down on 2–4 units when you live in one, up to HUD's 2026 San Diego County limit for 2 units ($1,413,350); this price is above it, so the down payment covers the difference. Lenders count only part of the other units' rent toward qualifying.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$13,694
The seller chose not to publish this home's address, so we don't show it on a map or name its zoned schools. Agents can see it in the MLS: ask us and we'll get it for you.
Comparable Properties
1 comp foundThis Property
$6,944
Comp Average
$5,074
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 2-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
2 units of about 686 sqft, each priced from up to 20 closed leases within 1 mi · $5,594–$7,866
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$10,014/mo short at 20% down; 93% down or +$13,005/mo rent closes it.
- Break-even price
- $696,177
- Break-even rent
- $19,949/mo
- Cashflow at 35% down
- −$7,930/mo
- Down payment to break even
- 93%
- Rate to break even
- Not reachable
65% under asking
$13,005/mo above the estimate
$1,860,000 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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