612 Tam O Shanter Drive
Atop 10%San Marcos, CA 92069Neighborhood: Richland
Pass at asking: -$2,457/mo full cashflow at 20% down, 7.43% rate.
Works at $430,050 (43% under asking), or at 68% down.
Rent $4,289/mo from 13 leases of 3–5 bed houses within 2 mi ($3,355–$3,889).
Beds
4
Baths
2
Sqft
1,360
Year Built
1974
Days on Market
0
Property Type
Single Family
HOA/mo
N/A
MLS ID
NDP2610191
This property is in San Marcos (92069). View neighborhood stats →
About This Property
A rare opportunity in San Marcos! Welcome to 612 Tam O Shanter Drive, where space, convenience, and potential come together. Situated in a desirable neighborhood, this single-story corner home sits on an impressive quarter-acre lot with NO HOA! Offering 4 bedrooms and 2 bathrooms, the home features upgraded dual-pane windows, a remodeled kitchen with additional cabinet storage, and a remodeled primary bathroom with a separate wet room. Step outside to a spacious backyard featuring raised garden beds, a beautiful water fountain, westerly, and plenty of room for entertaining or gardening. Additional highlights include central A/C, ceiling fans in every bedroom, and accessibility features such as a permanent concrete entry ramp and a removable ramp leading from the primary bedroom to the backyard. Conveniently located near shopping, dining, everyday amenities, and schools within the San Marcos Unified School District. With easy access to the 78 and 15 freeways, enjoy a convenient commute throughout North County and the greater San Diego area. An incredible opportunity for homeowners, investors, and buyers looking to build equity! With a little vision and TLC, make this San Marcos gem your own!
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Est. Monthly Payment
$5,135
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.
Renovation math
Flagged Light Value-Add from the listing remarks — “tlc”.
- Asking now
- $750K
- Worth finished
- $845K
- Budget to renovate
- $95,077
$551/sqft
$621/sqft × 1,360 sqft
$70/sqft to spend
Comparable finished homes nearby suggest this is worth $845K once it's brought to par — about $95,077 above the asking price. That spread is your renovation budget before the deal stops working.
Rent once renovated
- Rent at par
- $3,771/mo
- Cashflow at that rent
- −$2,856/mo
$2.77/sqft × 1,360 sqft, median of 5 comps
cap rate 2.40%, DSCR 0.73
Heads up: the rent estimate elsewhere on this page ($4,289/mo) is above what comparable finished homes here support. A home that needs work does not out-rent them, so treat $3,771/mo as the ceiling.
Buying at asking and achieving par rent, excluding the renovation spend itself. We don't publish a current-condition rent: no listing remark says how much work a home needs, and mid-renovation it earns nothing.
Based on 5 comparable homes of the same property type and size currently listed nearby — asking prices and modelled rents, not closed sales. A contractor's scope, not this page, decides what a renovation actually costs.
Comparable Properties
5 comps foundThis Property
$4,289
Comp Average
$3,803
320 Rolling Hills
3bd / 2ba · 1,376 sqft · Single Family
$700K
Est. $3,833/mo
521 Shadow Hills Drive
4bd / 2ba · 1,479 sqft · Single Family
$825K
Est. $3,984/mo
1537 Palomarcos
3bd / 2ba · 1,286 sqft · Single Family
$799K
Est. $3,605/mo
1352 Orlando St
4bd / 2ba · 1,524 sqft · Single Family
$949K
Est. $4,108/mo
1649 Palomar Drive
3bd / 2ba · 1,257 sqft · Single Family
$834K
Est. $3,485/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Short-term not available here. San Marcos does not allow short-term rentals in residential zones. See the rules
Investment Score
13 leases of 3–5 bed houses within 2 mi · $3,355–$3,889
Blended 50/50 with the zip's market median ($4,970)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$2,457/mo short at 20% down; 68% down or +$3,191/mo rent closes it.
- Break-even price
- $430,050
- Break-even rent
- $7,480/mo
- Cashflow at 35% down
- −$1,676/mo
- Down payment to break even
- 68%
- Rate to break even
- 0.17%
43% under asking
$3,191/mo above the estimate
$509,932 cash
at 20% down
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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