204 Woodland Parkway #220
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204 Woodland Parkway #220

Atop 10%

San Marcos, CA 92069Neighborhood: Richland

$480,000

Pass at asking: -$1,956/mo full cashflow at 20% down, 7.49% rate.

Works at $226,433 (53% under asking), or at 79% down.

Rent $2,837/mo from 11 leases of 2-bed condos & townhomes within 2 mi ($2,830–$2,940).

Beds

2

Baths

2

Sqft

940

Year Built

1990

Days on Market

101

Property Type

Condo

HOA/mo

$438

MLS ID

NDP2607025

This property is in San Marcos (92069). View neighborhood stats →

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About This Property

VA approved. Don't miss this opportunity to own a beautifully maintained 2-bedroom, 2-bath condominium in one of San Marcos' most convenient locations. This inviting home features an open-concept layout with a spacious living room, dining area, and abundant natural light throughout. Updated kitchen & baths! The kitchen offers new cabinets, counter tops, ample cabinet space, and newer appliances. Baths features updated flooring, fixtures & more. The primary suite provides a private bath and generous closet space. A second bedroom and full bath make this home ideal for guests, roommates, or a home office. Step outside to your private patio/balcony and enjoy the peaceful surroundings. Enjoy two (2) assigned parking spots. Residents have access to community amenities including EV Charging stations, a sparkling pool, spa, and lush greenbelts. Located just minutes from shopping, dining, schools, parks, and major commuter routes, this home offers the perfect combination of comfort and convenience. Open-concept layout with a spacious living room, dining area, and abundant natural light throughout. Whether you're searching for your first home, a low-maintenance lifestyle, or an excellent investment property, this home checks all the boxes.

Mortgage Calculator

Est. Monthly Payment

$3,740

Principal & Interest$2,682
Property Tax$480
Insurance$140
HOA$438
%($96,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Knob Hill 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.

Short-term not available here. San Marcos does not allow short-term rentals in residential zones. See the rules

Investment Score

52A
Est. Monthly Rent
$2,837

11 leases of 2-bed condos & townhomes within 2 mi · $2,830–$2,940

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$903
Full Cashflow

Incl. vacancy, PM, maint, capex

-$1,956

What would make this work?

$1,956/mo short at 20% down; 79% down or +$2,540/mo rent closes it.

Break-even price

53% under asking

$226,433
Break-even rent

$2,540/mo above the estimate

$5,377/mo
Cashflow at 35% down
−$1,453/mo
Down payment to break even

$379,200 cash

79%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$2,682
Cap Rate
2.17%
Cash-on-Cash
-24.45%
DSCR

Need ≥ 1.25 for DSCR loan

0.76

NOI (Annual)
$10,420
Price-to-Rent

Lower = better for investors

14.1

* 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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ACashflow−$1,956/mo