
1401 El Norte Pkwy #267
Atop 10%San Marcos, CA 92069Neighborhood: Richland
Pass at asking: -$1,707/mo full cashflow at 20% down, 7.49% rate.
Works at $183,683 (55% under asking), or at 81% down.
Rent $2,186/mo: zip market median for this bed count.
Beds
2
Baths
2
Sqft
1,584
Year Built
1972
Days on Market
239
Property Type
Manufactured
HOA/mo
$266
MLS ID
NDP2601949
This property is in San Marcos (92069). View neighborhood stats →
About This Property
Seller will entertain offers between $385,000 & $405,000. This is a really nice and spacious 2 BR 2 Bath unit located in Madrid Manor Senior Community which is a 55 and over where you own the land and there are lots of activities every month. Miniature Golf Course & Tennis/Pickle ball Court. Billiard Room to name a few. This home has a Family Room and Large Enclosed 18 X 8 California Room that is currently being used as an office and is included in the square footage listed. New Laminate Floors. Freshly painted inside and out. Open front porch to enjoy the wonderful breeze that comes through. Desirable location with no neighbors in front of you or behind you for privacy. Plenty of parking for friends and family. WHEELCHAIR RAMP IN THE CARPORT. Mirrored Closet Doors in the Master Bedroom with his and her closets, Walk in Shower in the Master Bath with a separate Vanity in the Master Bedroom. This home has good bones. Many upgrades. New Siding in the front. New Siding on the Calif Room. 5 Year old roof. Pads and Piers under the home have been replaced. Plus a permanent foundation installed and recorded. Furnace and water heater replaced. New toilets. faucets and shower heads in both bathrooms. New faucet in kitchen. Under Sink Water Filter. Water resistant Vinyl in kitchen and both bathrooms. New Blinds throughout. Central Air Conditioning and Heat. Ceiling fans in the Family room and Dining room. Good size manicured fenced back yard. Huge insulated storage shed with electricity and a ceiling fan and plenty of shelves. Nice and clean. Includes Washer and Dryer. Move in ready. Seller will pay for a One year Home Warranty for buyer. HOA will allow two small pets 20 pounds or less. This home has everything you need.Land owned. No high space rent. Low HOA fee. Pre-Hud. NO FHA OR VA Please review the Community Website. Lots of social activities. https://www.madridmanor.com/about-our-community.html
Mortgage Calculator
Est. Monthly Payment
$3,052
Location
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Zoned Schools
Elementary
Richland Elementary · grades K-5 · San Marcos Unified
Middle
Woodland Park Middle · grades 6-8 · San Marcos Unified
High
Mission Hills 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 foundThis Property
$2,186
Comp Average
$2,520
1401 El Norte Parkway
3bd / 2ba · 1,521 sqft · Manufactured
$475K
Est. $3,020/mo
1401 El Norte Parkway
3bd / 2ba · 1,493 sqft · Manufactured
$489K
Est. $3,020/mo
1401 El Norte Pkwy
2bd / 2ba · 1,464 sqft · Manufactured
$369K
Est. $2,186/mo
909 Richland Rd
2bd / 2ba · 1,584 sqft · Manufactured
$500K
Est. $2,186/mo

1401 El Norte Parkway
2bd / 2ba · 1,550 sqft · Manufactured
$539K
Est. $2,186/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
Zip market median for this bed count
Thin data: no closed leases like this one nearby.
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$1,707/mo short at 20% down; 81% down or +$2,216/mo rent closes it.
- Break-even price
- $183,683
- Break-even rent
- $4,402/mo
- Cashflow at 35% down
- −$1,282/mo
- Down payment to break even
- 81%
- Rate to break even
- Not reachable
55% under asking
$2,216/mo above the estimate
$328,050 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.49% 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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