402 Zoey Lane
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402 Zoey Lane

Btop 30%

San Marcos, CA 92069Neighborhood: Twin Oaks Valley

$579,900

Pass at asking: -$2,538/mo full cashflow at 20% down, 7.43% rate.

Works at $249,448 (57% under asking), or at 84% down.

Rent $2,943/mo from 17 leases of 1–3 bed condos & townhomes within 2 mi ($3,124–$3,349).

Beds

2

Baths

2.5

Sqft

1,163

Year Built

2026

Days on Market

45

Property Type

Townhouse

HOA/mo

$350

MLS ID

260023150SD

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

About This Property

With massive builder incentives! Don't miss your opportunity to own a brand new townhome at Pico Place Homes, one of the most affordable new construction communities in San Marcos. With quick move-in homes available and limited-time builder incentives, now is the perfect time to make homeownership a reality. Featuring just 16 thoughtfully designed townhomes, this boutique community is nearing sellout. These modern 2-bedroom, 2.5-bath residences offer bright open-concept floor plans with 9-foot ceilings, designer quartz countertops, luxury vinyl plank flooring, and stylish finishes throughout. Included solar panels, energy-efficient features, and a builder warranty provide long-term savings and added peace of mind. Each home also includes an attached 2-car garage and an oversized covered balcony, while residents enjoy community amenities such as a playground, BBQ area, and dog run. Ideally located just minutes from North City, California State University San Marcos, shopping, dining, and entertainment, Pico Place Homes delivers exceptional value without the burden of high HOA fees or Mello-Roos. With homes complete, quick move-in availability, and demand continuing to grow, this is one of the final opportunities to own in this exciting new community.

Mortgage Calculator

Est. Monthly Payment

$4,321

Principal & Interest$3,222
Property Tax$580
Insurance$169
HOA$350
%($115,980)
%
Loan Term

Location

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

Investment Score

42B
Est. Monthly Rent
$2,943

17 leases of 1–3 bed condos & townhomes within 2 mi · $3,124–$3,349

Blended 50/50 with the zip's market median ($2,669)

Monthly Cashflow

Rent − PITIA

-$1,377
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,538

What would make this work?

$2,538/mo short at 20% down; 84% down or +$3,296/mo rent closes it.

Break-even price

57% under asking

$249,448
Break-even rent

$3,296/mo above the estimate

$6,239/mo
Cashflow at 35% down
−$1,934/mo
Down payment to break even

$487,116 cash

84%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$3,222
Cap Rate
1.72%
Cash-on-Cash
-26.26%
DSCR

Need ≥ 1.25 for DSCR loan

0.68

NOI (Annual)
$9,973
Price-to-Rent

Lower = better for investors

16.4

* 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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BCashflow−$2,538/mo