3264 Shearer Crossing
Dbottom 20%Fallbrook, CA 92028
Pass at asking: -$27,496/mo full cashflow at 20% down, 7.36% rate.
Works at $602,066 (86% under asking); even all cash loses money at asking.
Rent $5,976/mo from 6 leases of 4–6 bed houses in 92028 ($4,701–$5,262).
Beds
5
Baths
2
Sqft
3,313
Year Built
1985
Days on Market
309
Property Type
Single Family
HOA/mo
N/A
MLS ID
NDP2509791
This property is in Fallbrook (92028). Browse neighborhood analytics →
About This Property
A once-in-a-lifetime opportunity to own an exceptional 93-acre estate in the heart of Fallbrook with COVETED WATER RIGHTS TO THE SAN LUIS REY RIVER. First, the home is majestically Perched atop a hillside, an exquisitely crafted Pueblo estate capturing the essence of timeless elegance and serene countryside living. Framed by panoramic vistas of lush orchards, rolling valleys, and distant mountains, the residence is a masterclass in architectural thoughtful design. Step inside to discover a warm, inviting interior from hand-laid Saltillo tile and rich wood flooring to plush carpeting in select bedrooms, every detail has been curated for both comfort and views. The expansive layout features 5 generously sized bedrooms, two dedicated offices, and an airy loft. The heart of the home, a sun-drenched kitchen, boasts a picture window that perfectly frames the sprawling orchard views. Two wood burning fireplaces lend additional warmth and character to the living spaces, creating cozy retreats for every season. Step out to the backyard where a resort-style pool and spa invite year-round relaxation. Now lets talk about the land... This agricultural paradise with a water supply so abundant, it defies expectations boasting two high-producing wells and WATER RIGHTS TO THE SAN LUIS REY RIVER, providing a virtually limitless flow to sustain farming, equestrian dreams, or other developments. The water infrastructure is truly unmatched with Two 65-foot-deep wells with potential production of up to 1,000 GPM, currently one well operating at 340 GPM with 65 PSI; One well is powered by a 20HP submersible pump, the other by a diesel-driven line shaft turbine. Water delivery that spans the entire estate with ease and efficiency, including the house with a reverse osmosis system for potable water. The land is as rich and versatile as its water supply. Currently planted with 11 acres of mature orange trees (25+ years old), 25 acres of various producing avocado trees (ranging from 10 to 25+ years) and a vibrant variety of fruit trees, including mandarins, apples, persimmons, and peaches. Approximately 20 acres of flat, usable terrain present an open canvas for expansion—whether envisioning a world-class equestrian facility, a luxury private estate compound, or a potential luxury subdivision. Let your imagination run free!! Steeped in rich agricultural history, this land has been lovingly maintained by the same family whose legacy helped shape Fallbrook’s renowned citrus and avocado industry.
Mortgage Calculator
Est. Monthly Payment
$28,597
Location
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Zoned Schools
Elementary
Bonsall Elementary · grades K-5 · Bonsall Unified
Middle
Norman L. Sullivan Middle · grades 6-8 · Bonsall Unified
High
Bonsall High · grades 9-12 · Bonsall Unified
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
4 comps foundThis Property
$5,976
Comp Average
$5,277
1409 Tecalote Drive
5bd / 5ba · 3,635 sqft · Single Family
$3.00M
Est. $5,344/mo
6036 Rainbow Heights Road
4bd / 3ba · 2,568 sqft · Single Family
$4.00M
Est. $4,351/mo

40390 Ross Road
4bd / 2ba · 1,500 sqft · Single Family
$2.63M
Est. $4,214/mo
3838 Foxglove
6bd / 6.5ba · 6,145 sqft · Single Family
$2.94M
Est. $7,199/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
6 leases of 4–6 bed houses in 92028 · $4,701–$5,262
Blended 50/50 with the zip's market median ($6,850)
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$27,496/mo short at 20% down; +$35,709/mo rent closes it.
- Break-even price
- $602,066
- Break-even rent
- $41,685/mo
- Cashflow at 35% down
- −$23,151/mo
- Down payment to break even
- Not reachable
- Rate to break even
- Not reachable
86% under asking
$35,709/mo above the estimate
Negative even all-cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* 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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