35916 Rice Canyon Road
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35916 Rice Canyon Road

Dbottom 20%

Fallbrook, CA 92028

$1,568,000

Pass at asking: -$9,285/mo full cashflow at 20% down, 7.43% rate.

Works at $358,974 (77% under asking); even all cash loses money at asking.

Rent $3,581/mo from 16 leases of 3-bed houses in 92028 ($3,407–$3,707).

Beds

3

Baths

2

Sqft

1,536

Year Built

1979

Days on Market

58

Property Type

Single Family

HOA/mo

N/A

MLS ID

PW26198626

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

About This Property

Secluded single-story log-style home featuring a stunning panoramic view. With 20.89 acres of picturesque rolling hills, this mini-ranch offers endless possibilities for enjoying the wonders of nature and for generating different sources of income. Currently, a portion of this mini-ranch is being developed as an exotic fruit farm featuring a number of exotic fruits such as guava, Australian custard apple, Israeli custard apple, banana, orange, peach, jujube, java, sapote, mango, longan, tangerine, berry, berry, rolia, lemon, and sakara flower. The rolling hillsides have great potential to nurture grapevines or avocados for personal enjoyment or additional income streams. The charming log style main house offers a peaceful country atmosphere paired with a beautiful panoramic view. With spacious 3 bedrooms, 2 bathrooms, and a side deck, it offers relaxing space away from city noise and traffic. This house is also currently rented as AirBnB providing another source of income stream.The property also features a detached 2-car garage, an existing mobile home structure included at no assigned value, and boundless space for the potential additional construction of AirBnb tiny homes. Please check with the city for any updated ordinances and/requirements. This huge parcel is also currently home to a number of farm animals, including chickens, peacocks, egg-laying geese, and dogs. Nevertheless, there is plenty of room on these extensive acres for animals like horses, goats, alpacas, and fish.

Mortgage Calculator

Est. Monthly Payment

$10,736

Principal & Interest$8,711
Property Tax$1,568
Insurance$457
%($313,600)
%
Loan Term

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.

Investment Score

0D
Est. Monthly Rent
$3,581

16 leases of 3-bed houses in 92028 · $3,407–$3,707

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$7,155
Full Cashflow

Incl. vacancy, PM, maint, capex

-$9,285

What would make this work?

$9,285/mo short at 20% down; +$12,059/mo rent closes it.

Break-even price

77% under asking

$358,974
Break-even rent

$12,059/mo above the estimate

$15,640/mo
Cashflow at 35% down
−$7,652/mo
Down payment to break even

Negative even all-cash

Not reachable
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$8,711
Cap Rate
-0.30%
Cash-on-Cash
-35.53%
DSCR

Need ≥ 1.25 for DSCR loan

0.33

NOI (Annual)
-$4,743
Price-to-Rent

Lower = better for investors

36.5

* 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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DCashflow−$9,285/mo