1908 San Pablo Dr
Dbottom 20%San Marcos, CA 92078Neighborhood: Lake San Marcos
Pass at asking: -$8,400/mo full cashflow at 20% down, 7.43% rate.
Works at $406,286 (73% under asking); even all cash loses money at asking.
Rent $4,052/mo from 10 leases of 3-bed houses within 2 mi ($3,585–$4,335).
Beds
3
Baths
2
Sqft
1,627
Year Built
1964
Days on Market
0
Property Type
Single Family
HOA/mo
N/A
MLS ID
260026399SD
This property is in San Marcos (92078). View neighborhood stats →
About This Property
Welcome to 1908 San Pablo in the highly desirable Lake San Marcos community! Beautifully renovated from top to bottom, this home offers the perfect combination of modern finishes, thoughtful upgrades, and peace of mind. No detail was overlooked in this extensive renovation, which goes far beyond cosmetic improvements. Major upgrades include a complete electrical rewire, replacement of the original cast iron plumbing, updated foundation blocks, and owned solar, providing buyers with the confidence of significant improvements to the home’s core systems and the added benefit of energy efficiency. The beautifully refreshed interior offers a clean, modern feel throughout, creating a truly move-in-ready experience. Enjoy all that Lake San Marcos has to offer, with its picturesque surroundings, nearby golf courses, dining, shopping, and recreational opportunities. With extensive improvements both inside and out, this is a rare opportunity to own a comprehensively renovated home in one of North County’s most sought-after communities!
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Est. Monthly Payment
$10,271
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 foundThis Property
$4,052
Comp Average
$4,165
1132 Rancho Santa Fe Rd
4bd / 2ba · 1,765 sqft · Single Family
$985K
Est. $4,414/mo
590 Sonoma Street
3bd / 2.5ba · 1,487 sqft · Single Family
$949K
Est. $3,750/mo
1702 Kenwood Place
3bd / 2.5ba · 1,709 sqft · Single Family
$1.19M
Est. $4,286/mo
1530 Camino Linda Drive
3bd / 2ba · 1,700 sqft · Single Family
$1.20M
Est. $4,415/mo
3503 La Mirada
3bd / 2ba · 1,441 sqft · Single Family
$1.60M
Est. $3,960/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
10 leases of 3-bed houses within 2 mi · $3,585–$4,335
Blended 50/50 with the zip's market median ($4,353)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$8,400/mo short at 20% down; +$10,909/mo rent closes it.
- Break-even price
- $406,286
- Break-even rent
- $14,961/mo
- Cashflow at 35% down
- −$6,838/mo
- Down payment to break even
- Not reachable
- Rate to break even
- Not reachable
73% under asking
$10,909/mo above the estimate
Negative even all-cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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