
35788 Bay Morgan Lane
Ctop 80%Fallbrook, CA 92028
HOA rules unknown: an HOA can ban stays under 30 days (Civ. Code §4741), and no permit on file shows this one allows them. Get the CC&Rs.
Pass at asking: -$4,525/mo full cashflow at 20% down, 7.43% rate.
Works at $459,862 (56% under asking), or at 83% down.
Rent $4,853/mo from 4 leases of 4-bed houses in 92028 ($4,326–$5,310).
Beds
4
Baths
3
Sqft
3,006
Year Built
2017
Days on Market
54
Property Type
Single Family
HOA/mo
$205
MLS ID
260022658SD
This property is in Fallbrook (92028). Browse neighborhood analytics →
About This Property
Originally selected as a model home for Horse Creek Ridge, this exceptional residence was designed to showcase some of the builder’s most desirable finishes and upgrades, and it still stands apart today. Beautifully appointed and being sold fully furnished, this is a truly turnkey opportunity. An elegant marble-tiled entry opens to a light-filled floor plan with luxury vinyl plank flooring throughout the main level. At the heart of the home is a stunning chef’s kitchen featuring an oversized island, quartz countertops with dramatic waterfall edges, a built-in oven and microwave, and a generous walk-in pantry. The open layout flows into the dining and living areas, where a gas fireplace adds warmth and character. A first-floor bedroom offers flexibility for guests, multigenerational living, or a home office. Upstairs, a spacious loft provides additional living space, while the primary suite offers a spa-inspired bath with soaking tub, separate shower, two walk-in closets, and a private sauna. The beautifully designed backyard features a patio with overhead shade sails, an outdoor fireplace, a decorative water fountain, and multiple areas for dining, entertaining, and relaxing. Additional highlights include **FULLY PAID-OFF SOLAR**, a built-in EV charger, and a water softening and filtration system. With its former model-home details, full furnishings, impressive upgrades, and thoughtfully designed indoor and outdoor spaces, this Horse Creek Ridge home offers a rare combination of style, comfort, and convenience.
Mortgage Calculator
Est. Monthly Payment
$7,388
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
$4,853
Comp Average
$4,857
1202 Calle Sonia
4bd / 3ba · 2,791 sqft · Single Family
$969K
Est. $4,761/mo
3830 Lake Garden Drive
4bd / 3.5ba · 2,900 sqft · Single Family
$1.15M
Est. $4,855/mo
2890 Vista Del Rio
4bd / 3ba · 2,949 sqft · Single Family
$1.20M
Est. $4,874/mo
3144 Alta Verde Dr.
4bd / 4.5ba · 3,022 sqft · Single Family
$1.26M
Est. $4,903/mo

2043 Vista Valle Verde Drive
4bd / 2.5ba · 2,994 sqft · Single Family
$1.35M
Est. $4,892/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
Investment Score
4 leases of 4-bed houses in 92028 · $4,326–$5,310
Blended 50/50 with a property-level estimate
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$4,525/mo short at 20% down; 83% down or +$5,877/mo rent closes it.
- Break-even price
- $459,862
- Break-even rent
- $10,730/mo
- Cashflow at 35% down
- −$3,432/mo
- Down payment to break even
- 83%
- Rate to break even
- Not reachable
56% under asking
$5,877/mo above the estimate
$870,670 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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