909 Richland #111
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909 Richland #111

Atop 10%

San Marcos, CA 92069Neighborhood: Richland

$584,999
NEW — 0d

Pass at asking: -$2,052/mo full cashflow at 20% down, 7.49% rate.

Works at $319,048 (45% under asking), or at 71% down.

Rent $3,692/mo: zip market median for this bed count.

Beds

4

Baths

3

Sqft

1,848

Year Built

1990

Days on Market

0

Property Type

Manufactured

HOA/mo

$382

MLS ID

SW26231777

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

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About This Property

Welcome to 909 Richland Rd #111 in the highly desirable 55+ Foothills of San Marcos, a LAND OWNED manufactured home community! Situated on a premium corner location with NO NEIGHBORS ON EITHER SIDE, this beautifully upgraded single story home offers approximately 1,848 sq ft with 3 bedrooms, a separate office or optional 4th bedroom, and 3 full bathrooms. The showstopper is the BRAND NEW CUSTOM KITCHEN, completed less than a year ago with over $50,000 invested in stunning upgrades! Featuring gorgeous blue gray lower cabinetry with black hardware, contrasting white upper cabinets, soft close doors and drawers, quartz countertops with a dramatic full height quartz extending to the ceiling, a pot filler, and a professional style COSMO chef's range. The kitchen opens to the dining room, creating a beautiful space for entertaining. The spacious floor plan features NEWER LVP flooring throughout the main living areas and primary bedroom, upgraded plush carpet in secondary bedrooms, and newer interior and exterior paint. All three bedrooms have convenient bathroom access, including a secondary mini primary suite with its own private bathroom and another bedroom with direct access to a bathroom that also opens to the hallway. The primary suite offers a spacious bathroom and generous closet, while the separate flex room with double doors is currently used as an office. Additional improvements include a NEWER HVAC SYSTEM completely replaced in February 2023 with an Ecobee smart thermostat, an oversized indoor laundry and utility room, and a good sized pantry. Outside, enjoy beautiful NEW landscaping with brick walkways surrounding the home, drip irrigation for plants and potted greenery, and a covered front porch with privacy screening. The exterior storage shed and refrigerator are included! This home also features a 433A PERMANENT FOUNDATION, adding another desirable feature to this land owned property. Foothills of San Marcos offers resort style amenities including a clubhouse, pool, spa, fitness center, tennis courts, billiards, shuffleboard, and community activities. A rare opportunity to own a beautifully upgraded home with an exceptional kitchen, spacious floor plan, and land ownership in one of San Marcos' established and desirable communities!

Mortgage Calculator

Est. Monthly Payment

$4,407

Principal & Interest$3,269
Property Tax$585
Insurance$171
HOA$382
%($117,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Richland 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.

Investment Score

61A
Est. Monthly Rent
$3,692

Zip market median for this bed count

Thin data: no closed leases like this one nearby.

Monthly Cashflow

Rent − PITIA

-$715
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,052

What would make this work?

$2,052/mo short at 20% down; 71% down or +$2,665/mo rent closes it.

Break-even price

45% under asking

$319,048
Break-even rent

$2,665/mo above the estimate

$6,357/mo
Cashflow at 35% down
−$1,439/mo
Down payment to break even

$415,349 cash

71%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$3,269
Cap Rate
2.88%
Cash-on-Cash
-21.04%
DSCR

Need ≥ 1.25 for DSCR loan

0.84

NOI (Annual)
$16,823
Price-to-Rent

Lower = better for investors

13.2

* 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−$2,052/mo