1017 Martina Court
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1017 Martina Court

C

San Marcos, CA 92078

$685,000
NEW — 1d

Soft Appraisal Value: $671,000 · 2.1% above estimate

Beds

2

Baths

2

Sqft

1,200

Year Built

1975

Days on Market

1

Property Type

Condo

HOA/mo

$420

MLS ID

NDP2606479

This property is in San Marcos (92078). View neighborhood stats →

Virtual Tour

About This Property

Beautifully and extensively remodeled, unique, upper floor, 2 bedroom, 2 bathroom, end unit condo with open floor plan and expansive mountain view for sale in the coveted Lake San Marcos community! Located at the quiet, private end of the building, this condo was thoughtfully remodeled. The kitchen sparkles with granite counters, glass tile backsplash and shaker cabinets. More importantly, the kitchen walls were removed to create the most open and seamless great room design you can imagine. The expanded vanity in the primary suite offers dual sinks. A door from the living room into the secondary bathroom was added so guests don't have to walk awkwardly through a bedroom to access it. Recessed lighting and large windows keep it light and bright while updated dual pane windows, three ceiling fans, a breeze-through security door, and Quiet Rock drywall in the bedrooms keep it cool and quiet. The entire interior was freshly repainted and the exterior is in the process of getting new exterior paint. Enjoy the view from the spacious balcony accessible from both the living room and primary bedroom or take a 5 minute walk (literally, we timed it) on the adjacent walking path down to see sparkling Lake San Marcos and the community's shops and restaurants. For a separate fee you can join the golf club and/or get a "Lake and Lodge Membership" to take advantage of the pool, gym, lake amenities (including sandy "beach"), tennis and pickleball courts within walking distance. Kids can walk to several area schools including highly rated San Marcos High School. Behind the private, detached, single stall garage is a large golf-cart parking garage/storage room for your use only. A permit-only parking lot exclusively for residents' use provides an additional parking space. The HOA fee covers water, sewer, trash and garage electricity. This unit is a MUST-SEE!

Mortgage Calculator

Est. Monthly Payment

$4,769

Principal & Interest$3,464
Property Tax$685
Insurance$200
HOA$420
%($137,000)
%

Location

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Investment Score

24D
Est. Monthly Rent
$2,833
Monthly Cashflow

Rent − PITIA

$-1,936
Full Cashflow

Incl. vacancy, PM, maint, capex

$-3,158

Mortgage (P+I)
$3,464
Cap Rate
0.54%
Cash-on-Cash
-27.66%
DSCR

Need ≥ 1.25 for DSCR loan

0.59
Break-even Rent
$6,935

NOI (Annual)
$3,667
Price-to-Rent

Lower = better for investors

20.1

* 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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