
3237 Canonita Drive
Ctop 80%Fallbrook, CA 92028
Pass at asking: -$4,791/mo full cashflow at 20% down, 7.43% rate.
Works at $451,195 (58% under asking), or at 85% down.
Rent $4,501/mo from 16 leases of 3-bed houses in 92028 ($4,452–$4,845).
Beds
3
Baths
2.5
Sqft
2,624
Year Built
1979
Days on Market
58
Property Type
Single Family
HOA/mo
N/A
MLS ID
ND26196758
This property is in Fallbrook (92028). Browse neighborhood analytics →
About This Property
Fallbrook acreage with expansive views, a producing avocado grove & ADU/sport court/pool potential! This well-maintained 3-bedroom, 2.5-bath, 2,624 sq ft home sits on 2.07 private acres and offers a rare opportunity to build a detached ADU with its own private driveway—ideal for rental income, multigenerational living, or guests. Seventy five producing avocado trees with irrigation infrastructure for up to 150, plus usable land for hobby farming, gardening, recreation, and entertaining. Features include an updated kitchen, vaulted wood-beam ceilings, wood-burning fireplace, Trex deck, new paver driveway, updated roof and HVAC, and large 2-car garage. Buyers may also want to explore rural land financing options that could make owning acreage more attainable. Minutes to I-15, approximately 20 minutes to Temecula and 30 minutes to the coast. A unique opportunity to enjoy rural living with room to grow.Property highlights:• 2.07 acres with a 75-tree producing avocado grove, irrigation set up for up to 150 trees• 20 minutes to Old Town Temecula, 30 minutes to the beach• Minutes to I-15 and 3 minutes to Monserate Winery• Usable land for recreation or entertaining• Updated concrete tile roof and HVAC• Space to add an ADU for rental or multigenerational living• Well-maintained septic system
Mortgage Calculator
Est. Monthly Payment
$7,361
Location
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Zoned Schools
Elementary
Live Oak 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.
Comparable Properties
5 comps foundThis Property
$4,501
Comp Average
$4,532
1427 El Nido Drive
3bd / 3ba · 2,697 sqft · Single Family
$949K
Est. $4,560/mo
4488 La Canada
3bd / 3ba · 2,680 sqft · Single Family
$975K
Est. $4,592/mo
4994 San Jacinto Circle
3bd / 3.5ba · 2,616 sqft · Single Family
$999K
Est. $4,560/mo
2645 Daisy Ln
3bd / 2.5ba · 2,483 sqft · Single Family
$1.10M
Est. $4,391/mo
1474 Via Encinos
3bd / 2.5ba · 2,588 sqft · Single Family
$1.15M
Est. $4,557/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
16 leases of 3-bed houses in 92028 · $4,452–$4,845
Blended 50/50 with a property-level estimate
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$4,791/mo short at 20% down; 85% down or +$6,222/mo rent closes it.
- Break-even price
- $451,195
- Break-even rent
- $10,723/mo
- Cashflow at 35% down
- −$3,671/mo
- Down payment to break even
- 85%
- Rate to break even
- Not reachable
58% under asking
$6,222/mo above the estimate
$913,750 cash
Negative even at a 0% loan
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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