1940 Fairway Circle Drive
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1940 Fairway Circle Drive

C

San Marcos, CA 92078

$715,000
NEW — 2d

Soft Appraisal Value: $706,600 · 1.2% above estimate

Beds

3

Baths

2

Sqft

1,325

Year Built

1975

Days on Market

2

Property Type

Condo

HOA/mo

$525

MLS ID

NDP2606534

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

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About This Property

Welcome to this beautifully remodeled top-floor, 3-bedroom, 2-bath condo in the highly sought-after Fairway Knolls community of Lake San Marcos. Just eight easy steps lead to this light-filled upper-level home, with a front and back patio, vaulted ceilings, gas fireplace, and a living room sliding door framing the unobstructed 180-degree views of mountains, the Lake San Marcos neighborhood, the driving range and the 10th and 18th holes of The Links at Lakehouse Golf Course. The completely remodeled kitchen features quartz and quartzite countertops, new stainless steel appliances, and soft-close cabinetry. Throughout the home you'll find luxury vinyl plank flooring, recessed lighting, fresh neutral paint, updated electrical outlets and switches, newer windows, and generous storage. Two secondary bedrooms feature custom IKEA closet organizers and wood shutters, while the spacious primary suite offers a walk-in closet with a custom IKEA organization system, dual vanities, and a beautifully tiled walk-in shower with a frameless glass enclosure. Skylights in both bathrooms fill the spaces with natural light. The home includes an assigned covered carport with additional storage, plus ample guest parking nearby. Ideally located just steps from the community pool, tennis/pickleball court, and clubhouse, the Fairway Knolls community has recently completed an extensive exterior renovation, and the special assessment has already been paid. HOA dues include water, cable, internet, and trash. Beyond the community, enjoy everything Lake San Marcos has to offer, including waterfront dining at Amalfi, golf, boating, kayaking, live entertainment, and optional membership amenities, making this the perfect opportunity to embrace the resort-style lifestyle that Lake San Marcos is known for. The HOA covers water, cable/internet, and trash, while residents also enjoy access to the community pool, tennis courts, and clubhouse. The Fairway Knolls community has recently undergone an extensive exterior renovation, and the seller has already paid the special assessment, offering added value and peace of mind to the new owner. Located in the vibrant Lake San Marcos neighborhood, you'll have the option to enjoy nearby restaurants, lake activities, and membership opportunities, making this an exceptional opportunity to enjoy resort-style living with spectacular golf course and mountain views in one of North County's most sought-after communities.

Mortgage Calculator

Est. Monthly Payment

$5,064

Principal & Interest$3,615
Property Tax$715
Insurance$209
HOA$525
%($143,000)
%

Location

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Investment Score

31C
Est. Monthly Rent
$3,507
Monthly Cashflow

Rent − PITIA

$-1,557
Full Cashflow

Incl. vacancy, PM, maint, capex

$-2,960

Mortgage (P+I)
$3,615
Cap Rate
1.10%
Cash-on-Cash
-24.84%
DSCR

Need ≥ 1.25 for DSCR loan

0.69
Break-even Rent
$7,351

NOI (Annual)
$7,867
Price-to-Rent

Lower = better for investors

17.0

* 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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