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1017 Martina Court

Btop 30%

San Marcos, CA 92078Neighborhood: Lake San Marcos

$639,000

NEW — 0d

STR: check · HOA rules unknown · TOT 8%

HOA rules unknown: an HOA can ban stays under 30 days (Civ. Code §4741), and no permit on file shows this one allows them. Get the CC&Rs.

Pass at asking: -$2,756/mo full cashflow at 20% down, 7.43% rate.

Works at $280,024 (56% under asking), or at 83% down.

Rent $3,339/mo from 11 leases of 1–3 bed condos & townhomes within 1 mi ($3,284–$3,762).

Beds

Baths

Sqft

1,200

Year Built

1975

Days on Market

Property Type

Condo

HOA/mo

$420

MLS ID

NDP2610141

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

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About This Property

Don't miss this rarely available upper end-unit in Lake San Marcos—exceptional privacy, sweeping hillside views, and 1,200 sq. ft. of single-level living! Extensively remodeled 2BR/2BA with only one shared wall, open great room, beautiful kitchen, and brand-new refrigerator. Upgrades include brand-new high-efficiency mini-split A/C that heats and cools, dual sinks in the primary bath, a guest-accessible second bath, dual-pane windows, recessed lighting, and QuietRock bedroom drywall. Enjoy the spacious balcony with living room and primary bedroom access, private garage with large storage room, and nearby lake facilities, dining, shopping, boating, golf, resort and highly rated San Marcos schools. Fresh interior/exterior paint, excellent rental history, low HOA including water/trash, and no Mello-Roos. Vacant, turnkey, and priced for exceptional value—ready for a quick close!

Mortgage Calculator

Est. Monthly Payment

$4,795

Principal & Interest$3,550

Property Tax$639

Insurance$186

HOA$420

Down Payment

%($127,800)

Interest Rate

Loan Term

Location

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Zoned Schools

Elementary
Discovery Elementary · grades K-5 · San Marcos Unified
Middle
San Elijo Middle · grades 6-8 · San Marcos Unified
High
San Marcos High · grades 9-12 · San Marcos Unified

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

Comparable Properties

5 comps found

This Property

$3,339

Comp Average

$3,328

1060 San Marcos Blvd

2bd / 2.5ba · 1,222 sqft · Condo

$596K

Est. $3,234/mo

1812 Fairway Circle

2bd / 2ba · 1,150 sqft · Condo

$600K

Est. $3,314/mo

3307 Faye Drive

2bd / 2.5ba · 1,193 sqft · Condo

$650K

Est. $3,420/mo

1003 La Ventana Court

2bd / 2ba · 1,200 sqft · Condo

$675K

Est. $3,295/mo

1646 Via Caminar

2bd / 2ba · 1,222 sqft · Condo

$795K

Est. $3,376/mo

Comps based on same zip code, similar beds (±1), price range (60-150%).

Investment Score

40B

Est. Monthly Rent

$3,339

11 leases of 1–3 bed condos & townhomes within 1 mi · $3,284–$3,762

Blended 50/50 with the zip's market median ($3,320)

Monthly Cashflow

Rent − PITIA

-$1,456

Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,756

What would make this work?

$2,756/mo short at 20% down; 83% down or +$3,580/mo rent closes it.

Break-even price: $280,024
Break-even rent: $6,919/mo
Cashflow at 35% down: −$2,091/mo
Down payment to break even: 83%
Rate to break even: Not reachable

Mortgage (P+I)

$3,550

Cap Rate

1.80%

Cash-on-Cash

-25.88%

DSCR

Need ≥ 1.25 for DSCR loan

0.70

NOI (Annual)

$11,526

Price-to-Rent

Lower = better for investors

15.9

* 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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BCashflow−$2,756/mo