1611 Hillcrest

1611 Hillcrest

Btop 30%

Fallbrook, CA 92028

$849,000

Pass at asking: -$2,936/mo full cashflow at 20% down, 7.36% rate.

Works at $464,833 (45% under asking), or at 71% down.

Rent $4,614/mo from 9 leases of 3–5 bed houses within 2 mi ($3,885–$4,290).

Beds

4

Baths

3

Sqft

1,970

Year Built

1958

Days on Market

136

Property Type

Single Family

HOA/mo

N/A

MLS ID

SW26109297

This property is in Fallbrook (92028). Browse neighborhood analytics →

About This Property

CLOSE TO TOWN | RV PARKING | MOTHER IN-LAW QUARTERS | LARGE CUSTOM PATIO | PERSONAL ORCHARD | Situated on a generous half-acre lot in Fallbrook, this warm and inviting 4 bedroom, 3 bathroom home spans 1,970 square feet and immediately welcomes you with its exceptional character and a layout designed for a true sense of comfort, all with the added peace of mind that comes from low property taxes and no HOA fees. An extra-large driveway provides extensive parking and plenty of space for an RV, offering safe and easy access to Mission while placing you just moments away from downtown Fallbrook for all your major shopping, amazing local restaurants, charming coffee shops, beautiful parks, scenic trails, and so much more of what really makes this community such a special place to live. Stepping inside, the residence instantly feels like home, showcasing original wood flooring in excellent condition throughout the main living areas and an incredibly welcoming atmosphere. The heart of the home flows beautifully around the dining room, which features a lovely built-in bar and china cabinet alongside an added pantry and storage space complete with beautiful built-in display cabinets. For multi-generational living or visiting guests, the attached mother-in-law unit with its own private entrance offers the perfect blend of connection and privacy. The living space effortlessly expands outdoors to a covered barbecue patio right off the dining area, a dedicated covered spa patio, and an extra-large covered patio featuring a built-in fire pit that is perfect for gathering with loved ones. Surrounded by a beautiful lot filled with numerous fruit and citrus trees, this peaceful property offers a rare combination of charm and functionality, so come see it today and imagine the wonderful memories you will make in this enchanting space.

Mortgage Calculator

Est. Monthly Payment

$5,781

Principal & Interest$4,684
Property Tax$849
Insurance$248
%($169,800)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    William H. Frazier Elementary · grades K-6 · Fallbrook Union Elementary

  • Middle

    James E. Potter Intermediate · grades 7-8 · Fallbrook Union Elementary

  • High

    Fallbrook High · grades 9-12 · Fallbrook Union High

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

51B
Est. Monthly Rent
$4,614

9 leases of 3–5 bed houses within 2 mi · $3,885–$4,290

Blended 50/50 with the zip's market median ($5,102)

Monthly Cashflow

Rent − PITIA

-$1,167
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,936

What would make this work?

$2,936/mo short at 20% down; 71% down or +$3,813/mo rent closes it.

Break-even price

45% under asking

$464,833
Break-even rent

$3,813/mo above the estimate

$8,427/mo
Cashflow at 35% down
−$2,058/mo
Down payment to break even

$602,790 cash

71%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$4,684
Cap Rate
2.80%
Cash-on-Cash
-20.75%
DSCR

Need ≥ 1.25 for DSCR loan

0.80

NOI (Annual)
$23,748
Price-to-Rent

Lower = better for investors

15.3

* Modelled at 20% down, 7.36% 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−$2,936/mo