3535 Linda Vista Dr #130 · San Marcos, CA 92078

$299,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured · 83 Days on market

Built 1973 2,700 sqft lot $208/sqft · 11% below area Est $337k · 11% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.3/30.0
• ARV discount +12.5/15.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated VIEW Home with NO Property Taxes in Premier 55+ Resort Community! Enjoy elevated living in this beautifully maintained home located in a rent-controlled, resort-style community—plus the added benefit of HCD registration in lieu of traditional property taxes. This inviting residence features a desirable split-bedroom floor plan, offering privacy between the spacious primary suite and two guest bedrooms. The primary suite includes a walk-in closet for added comfort and convenience. Recent upgrades include a new stove, furnace, and thermostat, while many windows have been updated to vinyl dual pane for improved efficiency and natural light. Step outside to a low-maintenance yard with turf in the backyard and a drip irrigation system—perfect for easy outdoor enjoyment. Located in the highly sought-after Rancho Vallecitos community, residents enjoy access to exceptional amenities including a clubhouse, pool & spa, fitness center, library, billiards room, game and craft rooms, putting green, dog park, and more. A vibrant social calendar and scenic surroundings complete the resort lifestyle. Space rent is $740 and subject to city rent control.

Key facts

• 2,700 sq ft lot
• 2 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $299k.

Deal economics

• At list price, monthly cash flow is $772 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $281k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.5% in San Marcos — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#80 in CA, #3,074 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety D+, cost of living F.
• San Marcos Unified (suburban): math 52% / reading 67% proficiency, ranked #249 of 1,400 in CA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 232 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• This rent runs 36% of the median local income ($120k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $114k; list at $299k implies a 162% gain — meaningful room to come down on a strong offer.

Recommended offer $281,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.06%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (median comp): $336,700
• List price: $299,000
• Delta: -11.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3535 Linda Vista Dr Spc 29	0.00mi	2/2.0 (-1)	1,440 (0%)	1mo	$250,000	$174	94
3535 Linda Vista Dr #321	0.00mi	3/2.0	1,344 (-7%)	1mo	$275,000	$205	88
3535 Linda Vista Dr #50	0.00mi	2/2.0 (-1)	1,368 (-5%)	1mo	$358,000	$262	86
1930 W San Marcos Blvd #374	0.26mi	2/2.0 (-1)	1,440 (0%)	1mo	$385,000	$267	82
1930 W San Marcos Blvd #191	0.26mi	2/2.0 (-1)	1,488 (+3%)	1mo	$310,000	$208	76
1930 W San Marcos Blvd #437	0.26mi	3/2.0	1,531 (+6%)	2mo	$475,000	$310	76
1930 W San Marcos Blvd #425	0.26mi	3/2.0	1,344 (-7%)	2mo	$320,000	$238	75
3535 Linda Vista Dr #255	0.00mi	2/2.0 (-1)	1,624 (+13%)	2mo	$285,000	$175	72
650 S Rancho Santa Fe Rd #312	0.38mi	2/2.0 (-1)	1,344 (-7%)	1mo	$267,000	$199	66
650 S Rancho Santa Fe. Rd #294	0.37mi	2/2.0 (-1)	1,344 (-7%)	2mo	$228,500	$170	65
2010 W San Marcos Blvd #54	0.63mi	3/2.0	1,344 (-7%)	1mo	$684,999	$510	59
650 S Rancho Santa Fe Rd #54	0.38mi	2/2.0 (-1)	1,248 (-13%)	2mo	$260,000	$208	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.35% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.90×
• Total profit: $-8,571
• Equity at exit: $44,582

10-year hold

• IRR: 3.7%
• Equity multiple: 1.24×
• Total profit: $19,741
• Equity at exit: $25,852

Cash invested: $83,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92078

• Rents YoY: 0.3%
• Active inventory: 232
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,593 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$754
• Net cashflow: $772

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 74%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3919 Las Cruces Ave San Marcos, CA	3.0	2.0	1100	$3,200	$2.91	5d	1	0.31mi
658 Las Flores Dr San Marcos, CA	3.0	1.0	1284	$3,650	$2.84	43d	1	0.32mi
3815 La Rosa Dr San Marcos, CA	3.0	1.0	1014	$3,700	$3.65	12d	1	0.39mi
3834 La Rosa Dr Unit A San Marcos, CA	2.0	1.0	1014	$4,200	$4.14	43d	1	0.44mi
2010 W San Marcos Blvd San Marcos, CA	2.0	2.0	1288	$4,000	$3.11	43d	1	0.53mi
1643 Rue de Valle San Marcos, CA	2.0	1.5	1086	$3,222	$2.97	17d	1	0.53mi
830 S Rancho Santa Fe Rd San Marcos, CA	1.0–2.0	1.0–2.0	826	$3,150	$3.81	2d	5	0.58mi
603 Beverly Pl San Marcos, CA	2.0	1.5	1068	$3,150	$2.95	43d	1	0.61mi
910 S Rancho Santa Fe Rd Unit 1 San Marcos, CA	2.0	2.0	950	$2,900	$3.05	24d	1	0.70mi
1635 Creek St San Marcos, CA	1.0–2.0	2.0	1047	$3,450	$3.29	14d	3	0.74mi
2115 Solara Ln Vista, CA	4.0	2.5	1576	$4,200	$2.66	14d	1	0.85mi
1029 Martina Ct San Marcos, CA	2.0	2.0	1200	$2,995	$2.50	43d	1	1.00mi
1241 W San Marcos Blvd San Marcos, CA	1.0–2.0	1.0	883	$2,400	$2.72	43d	1	1.06mi
420 Smilax Rd San Marcos, CA	2.0	2.0	896	$2,445	$2.73	2d	3	1.07mi
1560 Circa Del Lago Unit D302 San Marcos, CA	2.0	2.0	1030	$4,500	$4.37	43d	1	1.12mi
1560 Circa Del Lago Unit D304 San Marcos, CA	2.0	2.0	1030	$4,500	$4.37	24d	1	1.12mi
320 Smilax Rd San Marcos, CA	2.0	1.0	875	$2,675	$3.06	24d	1	1.31mi
320 Smilax Rd San Marcos, CA	2.0	1.0	875	$2,675	$3.06	43d	1	1.31mi
300 Smilax Rd Unit 11 San Marcos, CA	2.0	1.0	875	$2,675	$3.06	24d	1	1.31mi
266 Avenida de Suerte San Marcos, CA	3.0	2.0	1132	$3,495	$3.09	21d	1	1.32mi
1257 Armorlite Dr San Marcos, CA	2.0	1.0–2.5	1189	$4,330	$3.64	1d	24	1.32mi
920 Sycamore Ave Vista, CA	2.0	2.0	950	$2,675	$2.82	3d	1	1.35mi
1052 Kendale Way Vista, CA	3.0	2.5	1576	$3,795	$2.41	43d	1	1.38mi
221 Smilax Rd Vista, CA	1.0–2.0	1.0–2.0	855	$2,799	$3.27	2d	8	1.39mi
2206 Saltbush Dr San Marcos, CA	3.0	3.5	1781	$4,000	$2.25	11d	1	1.39mi
1045 Armorlite Dr San Marcos, CA	2.0	1.0–3.0	902	$3,398	$3.77	1d	16	1.50mi

Listing history 21 events

1. 2026-06-18
   days on market $299,000 Active 83 DOM
2. 2026-06-17
   days on market $299,000 Active 82 DOM
3. 2026-06-16
   days on market $299,000 Active 81 DOM
4. 2026-06-15
   days on market $299,000 Active 80 DOM
5. 2026-06-13
   pricedays on market $299,000 Active 78 DOM
6. 2026-06-09
   days on market $320,000 Active 74 DOM
7. 2026-06-08
   days on market $320,000 Active 73 DOM
8. 2026-06-07
   days on market $320,000 Active 72 DOM
9. 2026-06-04
   days on market $320,000 Active 69 DOM
10. 2026-06-03
    days on market $320,000 Active 68 DOM
11. 2026-06-02
    days on market $320,000 Active 67 DOM
12. 2026-06-01
    days on market $320,000 Active 66 DOM
13. 2026-05-31
    days on market $320,000 Active 65 DOM
14. 2026-03-27
    listed $320,000 Active 1180-char remark

    Show marketing remark (1180 chars)

    Updated VIEW Home with NO Property Taxes in Premier 55+ Resort Community! Enjoy elevated living in this beautifully maintained home located in a rent-controlled, resort-style community—plus the added benefit of HCD registration in lieu of traditional property taxes. This inviting residence features a desirable split-bedroom floor plan, offering privacy between the spacious primary suite and two guest bedrooms. The primary suite includes a walk-in closet for added comfort and convenience. Recent upgrades include a new stove, furnace, and thermostat, while many windows have been updated to vinyl dual pane for improved efficiency and natural light. Step outside to a low-maintenance yard with turf in the backyard and a drip irrigation system—perfect for easy outdoor enjoyment. Located in the highly sought-after Rancho Vallecitos community, residents enjoy access to exceptional amenities including a clubhouse, pool & spa, fitness center, library, billiards room, game and craft rooms, putting green, dog park, and more. A vibrant social calendar and scenic surroundings complete the resort lifestyle. Space rent is $740 and subject to city rent control.

15. 2026-03-27
    historical $320,000 1180-char remark

    Show marketing remark (1180 chars)

    Updated VIEW Home with NO Property Taxes in Premier 55+ Resort Community! Enjoy elevated living in this beautifully maintained home located in a rent-controlled, resort-style community—plus the added benefit of HCD registration in lieu of traditional property taxes. This inviting residence features a desirable split-bedroom floor plan, offering privacy between the spacious primary suite and two guest bedrooms. The primary suite includes a walk-in closet for added comfort and convenience. Recent upgrades include a new stove, furnace, and thermostat, while many windows have been updated to vinyl dual pane for improved efficiency and natural light. Step outside to a low-maintenance yard with turf in the backyard and a drip irrigation system—perfect for easy outdoor enjoyment. Located in the highly sought-after Rancho Vallecitos community, residents enjoy access to exceptional amenities including a clubhouse, pool & spa, fitness center, library, billiards room, game and craft rooms, putting green, dog park, and more. A vibrant social calendar and scenic surroundings complete the resort lifestyle. Space rent is $740 and subject to city rent control.

16. 2017-11-16
    soldstatus $114,000 664-char remark

    Show marketing remark (664 chars)

    Rare 3 bedroom with split bdrm floorplan and privacy in a highly desired 55 plus 5 Star community!! Well cared for home is neat and move-in ready. Neutral carpet in new like condition. New washer/dryer included! Extra large walk-in closet in master. Mirrored closet door in one secondary bedroom. Light and bright pretty mid tone paneling and built in china hutch to display your knick-knacks. Generous living area and family room to entertain in. City lights & Mtn Views from deck & yard. No Property Taxes! Neighborhoods: San Marcos Complex Features: , ,, ,, Equipment: Dryer, Range/Oven, Shed(s) Other Fees: 0 Sewer: Sewer Connected Topography: LL

17. 2017-11-16
    soldstatus $114,000 Sold 664-char remark

    Show marketing remark (664 chars)

    Rare 3 bedroom with split bdrm floorplan and privacy in a highly desired 55 plus 5 Star community!! Well cared for home is neat and move-in ready. Neutral carpet in new like condition. New washer/dryer included! Extra large walk-in closet in master. Mirrored closet door in one secondary bedroom. Light and bright pretty mid tone paneling and built in china hutch to display your knick-knacks. Generous living area and family room to entertain in. City lights & Mtn Views from deck & yard. No Property Taxes! Neighborhoods: San Marcos Complex Features: , ,, ,, Equipment: Dryer, Range/Oven, Shed(s) Other Fees: 0 Sewer: Sewer Connected Topography: LL

18. 2017-10-31
    status Pending 664-char remark

    Show marketing remark (664 chars)

    Rare 3 bedroom with split bdrm floorplan and privacy in a highly desired 55 plus 5 Star community!! Well cared for home is neat and move-in ready. Neutral carpet in new like condition. New washer/dryer included! Extra large walk-in closet in master. Mirrored closet door in one secondary bedroom. Light and bright pretty mid tone paneling and built in china hutch to display your knick-knacks. Generous living area and family room to entertain in. City lights & Mtn Views from deck & yard. No Property Taxes! Neighborhoods: San Marcos Complex Features: , ,, ,, Equipment: Dryer, Range/Oven, Shed(s) Other Fees: 0 Sewer: Sewer Connected Topography: LL

19. 2017-10-30
    historical 664-char remark

    Show marketing remark (664 chars)

    Rare 3 bedroom with split bdrm floorplan and privacy in a highly desired 55 plus 5 Star community!! Well cared for home is neat and move-in ready. Neutral carpet in new like condition. New washer/dryer included! Extra large walk-in closet in master. Mirrored closet door in one secondary bedroom. Light and bright pretty mid tone paneling and built in china hutch to display your knick-knacks. Generous living area and family room to entertain in. City lights & Mtn Views from deck & yard. No Property Taxes! Neighborhoods: San Marcos Complex Features: , ,, ,, Equipment: Dryer, Range/Oven, Shed(s) Other Fees: 0 Sewer: Sewer Connected Topography: LL

20. 2017-10-20
    listed $119,500 Active 664-char remark

    Show marketing remark (664 chars)

    Rare 3 bedroom with split bdrm floorplan and privacy in a highly desired 55 plus 5 Star community!! Well cared for home is neat and move-in ready. Neutral carpet in new like condition. New washer/dryer included! Extra large walk-in closet in master. Mirrored closet door in one secondary bedroom. Light and bright pretty mid tone paneling and built in china hutch to display your knick-knacks. Generous living area and family room to entertain in. City lights & Mtn Views from deck & yard. No Property Taxes! Neighborhoods: San Marcos Complex Features: , ,, ,, Equipment: Dryer, Range/Oven, Shed(s) Other Fees: 0 Sewer: Sewer Connected Topography: LL

21. 2017-10-20
    listed $119,500 664-char remark

    Show marketing remark (664 chars)

    Rare 3 bedroom with split bdrm floorplan and privacy in a highly desired 55 plus 5 Star community!! Well cared for home is neat and move-in ready. Neutral carpet in new like condition. New washer/dryer included! Extra large walk-in closet in master. Mirrored closet door in one secondary bedroom. Light and bright pretty mid tone paneling and built in china hutch to display your knick-knacks. Generous living area and family room to entertain in. City lights & Mtn Views from deck & yard. No Property Taxes! Neighborhoods: San Marcos Complex Features: , ,, ,, Equipment: Dryer, Range/Oven, Shed(s) Other Fees: 0 Sewer: Sewer Connected Topography: LL

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,111
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,449
• − Management: −$3,449
• − Depreciation: −$8,698
• Taxable income: $4,787
• Est. tax owed @ 24.0%: −$1,149
• After-tax cash flow: $8,113/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: San Marcos Unified
• NCES district ID: 0634880
• Math proficiency: 52% ▲ 1.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $64,752
• Composite: 53.67/100
• National rank: #3093
• State rank: #249 of 1400 in CA

Livability — San Marcos

• Score: 77/100
• State rank: #80
• US rank: #3074

Category grades

Amenities A+ Commute A+ Cost of living F Crime A- Employment A+ Housing B Health & safety D+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Marcos, CA
• County: San Diego County · 3,178,799 people
• City population: 100,940
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 53,605
• Household income: $120,268
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1594.0

Population outlook (San Diego County) Hauer SSP2

• Today (2025): 3,678,185 people
• By 2030: 3,856,546 · +4.8%
• By 2040: 4,171,407 · +13.4%
• By 2050: 4,421,607 · +20.2%
• By 2075: 4,831,599 · +31.4%
• By 2100: 4,832,502 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Hispanic / Latino 28% Two or more races 17% Asian 10% Black 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 73% English-only · Spanish 18% Other Indo-European 3% Chinese 1%

Political lean MEDSL · San Diego

• 2024 margin: D (+16.8) · D 56.9% · R 40.1% · Other 2.9%
• 2008→2024 swing: +6.6pp toward D · 2008: 10.2pp · 2024: 16.8pp
• All cycles: 2024: D+16.8 2020: D+22.8 2016: D+17.8 2012: D+5.1 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -351.55%
• Current HPI: 358.3294
• Rent YoY: ▲ 0.35%
• Metro: San Diego-Chula Vista-Carlsbad, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+167.8% since first listed

8 events — show timeline

• 2026-03-27 Listed $320,000 CRMLS
• 2026-03-27 Coming Soon $320,000 CRMLS
• 2017-11-16 Sold (MLS) $114,000 SDMLS
• 2017-11-16 Sold (MLS) $114,000 CRMLS
• 2017-10-31 Pending — SDMLS
• 2017-10-30 Listing Removed — CRMLS
• 2017-10-20 Listed $119,500 SDMLS
• 2017-10-20 Listed $119,500 CRMLS