1401 El Norte Parkway

1401 El Norte Parkway

D

San Marcos, CA 92069

$498,900

Soft Appraisal Value: $316,900 · 57.4% above estimate

Beds

2

Baths

2

Sqft

1,622

Year Built

2003

Days on Market

58

Property Type

Single Family

HOA/mo

$222

MLS ID

NDP2600592

Description

This move-in-ready home is now available in the sought-after 55+ Madrid Manor community. Notably, this property includes the land, so there is no land lease or rent required. The home features vaulted ceilings with skylights for natural light, laminate flooring, and ceiling fans in every room. The layout includes a wide hallway leading to the bedrooms and a guest bath, plus an optional room perfect for a den, office, or craft space. The large kitchen offers a center island for extra workspace, while the primary suite includes a walk-in closet and a walk-in shower. Outside, an extra-long carport provides ample space for outdoor entertaining. The unit is conveniently located near the clubhouse and guest parking, with easy access to I-15 and shopping. Madrid Manor amenities include: Large clubhouse with a kitchen and dining area (125-person capacity) Pool, spa, and fitness facilities (exercise and aerobics rooms) Card room, library, and pool room with three tables Tennis and pickleball courts, mini-golf, and shuffleboard Dance studio and additional meeting rooms Landscaped hillside with walking paths

Mortgage Calculator

Est. Monthly Payment

$3,389

Principal & Interest$2,523
Property Tax$499
Insurance$146
HOA$222
%($99,780)
%

Investment Score

27D
Est. Monthly Rent
$2,915
Monthly Cashflow

Rent − PITI − HOA

$-475
Full Cashflow

Incl. vacancy, PM, maint, capex

$-1,561

Mortgage (P+I)
$2,523
Cap Rate
2.31%
Cash-on-Cash
-5.71%
DSCR

⚠️ Need ≥ 1.25 for DSCR loan

0.86
Break-even Rent
$3,390

NOI (Annual)
$11,543
Price-to-Rent

Lower = better for investors

14.3

* 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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