Carmel Valley is not going to cash flow well right now with your parameters. If they did, many of us would have already bought several already. The time to have bought would have been between 2010-2011 and even maybe 2012….
a 2/2 condo in CarmelV will run around $420k on the low side… Then you have mello roos on top of your normal property tax total roughly 1.3%, and an HOA probably roughly around $280/month (on the low side)… Assuming you put 100k down and borrow 320k, with the prevailing rate of 4.5%/30year,
you’re looking at $2423/month in payments for something that probably rents for about that, maybe a little lower around $2300/month…