I’m not trying to support or knock down anyone’s position on this but just providing a data point – During our recent home renovation, we moved out and rented an older 3BR/2BA 1700 sf single level on the canyon in Del Mar (not in Olde Del Mar, but west of 5 off DM Heights Rd). It was pretty much in its original condition (one of the first Pardee tract homes built in the late 60s) without updates and was kind of shabby (linoleum/formica kitchen, older stove, original plumbing and outdated baths, etc), but had a nice view. We paid $3100/mo and when we recently moved, they re-rented it immediately for $3200. We’ve kept an eye on rentals in the Del Mar area, and it’s difficult to find a SFR for under $3000.
